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Realtor listing fee

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  • FLT

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    Realtor commission fees run from 5 to 7 % , that’s $25,000 to $37,800 on a $525,000 house . It would be cheaper to deal with the mob. :shocked: :faint:
     

    fv22

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    Then deal with the mob. Broken legs can be fixed for less than that, hell, even a funeral is much less than $37,800...
     

    kendive

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    Sell the house yourself... I have done it twice really not that hard.

    I don't care for realtors. When we were buying up property. I told one owner I will not buy the land until your contract is over with the realtor. They just cause you to pay more for stuff. I do the contract myself and take it to the closing agents. also makes it easy when you are paying cash.

    I do realize there is cases where you just have to have help and hire a realtor.






    .
     

    John B.

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    X2 for sell the house yourself. It's a seller's market for sure.

    Sent from my SM-G950U using Tapatalk
     

    SAWMAN

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    I have both bought and sold without a realitor.
    I paid a real estate lawyer to handle the paperwork. It cost <$1000. --- SAWMAN
     

    kendive

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    I have both bought and sold without a realitor.
    I paid a real estate lawyer to handle the paperwork. It cost <$1000. --- SAWMAN

    Yep gotta have the professionals handle the legal stuff... I used lockin and saba in Pace. They know me very well...
     

    wildrider666

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    Realtor commision percentages are negotiable or you can cap them. There's Seller Agency % and Buyer Agency %. If Buyer is represented by your sam Agency why would you pay them "twice". Look at the differences in final total commissions on a $1K property and a $5K property; At 6% total the first is $6K and the second is $30k: FOR THE SAME WORK!

    Agencies will whine about different group size of potential buyers or list reasons your property is hard to sell. B.S. Do a realtor contract with your terms, commision persentage for selling Agency AND commision % limit for Buyer Agency. Could be 2% to Sell and +1.5% if they bring Buyer, 2% for outside Agency buyer. Its business and their are a lot of Agencies that want yours.

    Don't just "pick an Agency", interview several! See how they will market you property: picture sale ad every week in 1, 2 local papers and local real estate brochures, will it be included in general TV ads? Set conditions: set the duration of you contract to 90 days with YOUR option to extend at 90 day intervals. Interior showing only to "pre-qualified" buyers. See how many other Agencies show up for Agent viewing event. See how much buyer traffic you get and the frequency during the period and subsequent periods. Drop low traffic agency at contract end of contract in writing. Fire your agent and ask for a replacement from agency if he/she has traits, demeanor, personality, appearances or other off-setting issues. I've fired them for unprofessional appearance, hygiene issues and " everything is comedy remarks.

    Know that you must do your part as the Seller, price MUST be reasonable even in a sellers market for condition and and location. Well maintained, clean/neat and no "eccentric stuff" gets more serious consideration and appropriate offers. You really need to accommodate potential buyer viewing requests/times. Get out of the house so buyers and agents can talk openly, both can say things you might take offense at (you love your 70's shag carpet and built in cat play ground that goes through five rooms, they might not). Even "their agent" wants to sell your property. they will bring questions if they have any. Discuss but never argue in front of buyers. Have a current (within10 years?) Property survey and know where the property lines physically are, who actually owns fences and if any Right of Ways exist, water, mineral Rights, historic restrictions. Improper property disclosure statements can break a deal or create financial liability. "Soft roof led to seven saging burnt roof trusses (and pylwood) that had 2X4s bolted thru them. It was undesclosed damage from a laundry room fire that seller "forgot about": Voided Contract.

    Yes, you can sell it your self but you need to educate yourself, have an bullet proof contract maybe a Lawyer, and a Title Company that will help you and do the final actions.
     

    Garpo

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    Yes, you can sell it your self but you need to educate yourself, have an bullet proof contract maybe a Lawyer, and a Title Company that will help you and do the final actions.

    It's not rocket science, trust me, done it three times myself. If all goes according to plan, I'll be doing it one more time in the very near future. :pray2:
     

    MauserLarry

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    Realtor commission fees run from 5 to 7 % , that’s $25,000 to $37,800 on a $525,000 house . It would be cheaper to deal with the mob. :shocked: :faint:

    What the Hell you think they're supposed to do? Sell your stuff for free! It's a business and just like any other business they offer a service for money and if you don't think it's worth it go somewhere else or sell it yourself. If you think this is high check out Barrett-Jackson's prices. Trust me, it would not be cheaper to deal with the "mob".
     

    MauserLarry

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    Realtor commision percentages are negotiable or you can cap them. There's Seller Agency % and Buyer Agency %. If Buyer is represented by your sam Agency why would you pay them "twice". Look at the differences in final total commissions on a $1K property and a $5K property; At 6% total the first is $6K and the second is $30k: FOR THE SAME WORK!

    Agencies will whine about different group size of potential buyers or list reasons your property is hard to sell. B.S. Do a realtor contract with your terms, commision persentage for selling Agency AND commision % limit for Buyer Agency. Could be 2% to Sell and +1.5% if they bring Buyer, 2% for outside Agency buyer. Its business and their are a lot of Agencies that want yours.

    Don't just "pick an Agency", interview several! See how they will market you property: picture sale ad every week in 1, 2 local papers and local real estate brochures, will it be included in general TV ads? Set conditions: set the duration of you contract to 90 days with YOUR option to extend at 90 day intervals. Interior showing only to "pre-qualified" buyers. See how many other Agencies show up for Agent viewing event. See how much buyer traffic you get and the frequency during the period and subsequent periods. Drop low traffic agency at contract end of contract in writing. Fire your agent and ask for a replacement from agency if he/she has traits, demeanor, personality, appearances or other off-setting issues. I've fired them for unprofessional appearance, hygiene issues and " everything is comedy remarks.

    Know that you must do your part as the Seller, price MUST be reasonable even in a sellers market for condition and and location. Well maintained, clean/neat and no "eccentric stuff" gets more serious consideration and appropriate offers. You really need to accommodate potential buyer viewing requests/times. Get out of the house so buyers and agents can talk openly, both can say things you might take offense at (you love your 70's shag carpet and built in cat play ground that goes through five rooms, they might not). Even "their agent" wants to sell your property. they will bring questions if they have any. Discuss but never argue in front of buyers. Have a current (within10 years?) Property survey and know where the property lines physically are, who actually owns fences and if any Right of Ways exist, water, mineral Rights, historic restrictions. Improper property disclosure statements can break a deal or create financial liability. "Soft roof led to seven saging burnt roof trusses (and pylwood) that had 2X4s bolted thru them. It was undesclosed damage from a laundry room fire that seller "forgot about": Voided Contract.

    Yes, you can sell it your self but you need to educate yourself, have an bullet proof contract maybe a Lawyer, and a Title Company that will help you and do the final actions.

    Excellent post! pretty well sums it up for whatever way you want to go with your sale.
     

    Zeroed in

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    Realtor commission fees run from 5 to 7 % , that’s $25,000 to $37,800 on a $525,000 house . It would be cheaper to deal with the mob. :shocked: :faint:


    Not to mention that fee is added into your mortgage and now you can quadruple that amount over the 30 year mortgage.
     

    Realtor

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    After 15 years in the Real Estate business, I have come to the conclusion, We (Realtors) have about the same reputation as Attorneys and Insurance agents.

    You love to hate them in every way imaginable, right up until the second you need them. Then from that second on, their your best investment/friend….

    Until the transaction/business is completed, then you bitch behind their backs to your friends about how much they charge....LOL
     

    MarkS

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    The wife and I have bought and sold a few properties only one of which had a house on it and never used a realtor
    Just a title company for closing
    That said we finally got a friends son who is a realtor to try and sell 6.25 acres of vacant land after a few years of trying to sell on our on. We’ve had a lot of people ask about owner financing. None of them could put up enough of a down payment to make it worth the hassle of foreclosure
    So now we’ll see if Justin earns his commission by getting it sold


    Sent from my iPhone using Tapatalk
     

    Overtime

    Fear the Wombat!
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    We sold our house 2 years ago and used a realtor, and he was worth every penny. We had a pretty hard deadline for the sell, as we already had another house out of state. He walked us through the whole process getting the house ready to sell and we had multiple offers and a contract in less than 24 hours. He got us more than we ever thought we could for the house, enough to cover his commission and then some. I never had to lift a finger. No way we could have done it ourselves. He made one of the most stressful times in our life a WHOLE lot easier......by the way, he goes by “Realtor” on this forum if anybody ever needs his services!
     

    FLT

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    I believe it’s sold ! Now I have figure out what I’m going to buy with the extra 20 something thousand dollars I’ll have left over after paying the title company’s fee. If I had of listed it the real estate company would have made over $3,000 an hour . I’m in the wrong business!
     

    The Pitt

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    I'm going through this mess now.

    Trying to buy a house in TX because I just got orders. I get a reference from a friend. First guy is a bum and never contacts me back after a couple attempts. Second reference I call and she sends me a bunch of CRAP listings. Mind you I've already sent her a few I had come across searching Zillow. She was trying to sell me at or above my Max range I gave her. I think she sent me houses that were difficult to sell or she was trying to sell what benefited her the most.

    How f'n difficult is it to tell me if a place is still available or already in the process of closing with the options I sent? Use the info I gave you and the types of houses I'm looking for based on the listings I provided. It's not THAT difficult. I'm paying you thousands of dollars!

    Not to mention I passed over MANY listings out there becase the listing agent posted just one or two, maybe ZERO, pictures. I would be pissed if that was my selling agent!

    Christ!

    I don't have my current house listed yet but I already know that she is going to be fantastic and I can't wait to make a boat load of money. However I see what it's costing me and it makes me sick! Almost 20% of my profits! That is if I was paying full amount. Find a friend in real estate and/or negotiate fees is your best bet.
     
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