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Realtor listing fee

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  • Realtor

    Marksman
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    It doesn't matter if it's listed on the closing statement as coming out of the Seller's pocket or the Buyer's. It's included in the price the Buyer is paying.

    All the sellers fees come out of the sellers proceeds/Bank Account, all the buyers fees come out of the buyers Bank Account.

    Generally the price of the property is as high as it can be and less "coming down" by the seller because the realtor fees are taken into consideration

    It's called "Fair Market Value" (FMV) Lots of Real Estate experts on here. The gift that keeps giving.

    Home come your not pissed off at:

    When you buy Gasoline. We have to pay first, not knowing what the total cost will be when filling up, (or use a credit card, because you cannot be trusted to pay when you're finished...) We have to pump my own gas, and the employee doesn't even have to talk to me or say "Thank you".... I doubt they took pay cut when they had less to do...

    Oh, and Lowes, Walmart etc, you go in there and get your products yourself, and you have to check YOURSELF out. While the employees watch you with their arms crossed…. The you still pay the full price, and you DON’t even work there…. Lol I doubt they took pay cut when they had less to do...

    I'd wouldn't mind to know what you all do for a living... care to share? It's a 2 way street. I bet I could be as ignorant about your profession as you are mine.... oooohhhhh oooohhhh

    Like I said in my first post. you love to hate them, but they're generally the first place you look to with questions... Go figure... ;)
     

    FrankT

    6.8 SPCII Hog Slayer
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    yeah the excuse realtors make is, they need us we are an added value...10% maybe are of value to you, the rest are just along for the ride...the buyer ends up paying for most fees in the end because without all the fees paid the property could be cheaper...you will never convince a realtor they are not needed as it is their living. If there were not so many bad agents the good ones would be not so maligned by most.
     

    Realtor

    Marksman
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    yeah the excuse realtors make is, they need us we are an added value...10% maybe are of value to you, the rest are just along for the ride...the buyer ends up paying for most fees in the end because without all the fees paid the property could be cheaper...you will never convince a realtor they are not needed as it is their living. If there were not so many bad agents the good ones would be not so maligned by most.

    Someone already said it upstream here. Theres good, and not so good, in every profession.

    There are millions of self proclaimed experts (Pick a subject) that surround us every minute of every day.....

    I had lunch with a "Life Coach" once. I swear, I'm sill to this day, not sure how I made it 21 years in the Navy, and have been self employed (at the time abut 10 years) with out them, and still be able to put my t-shirt on right side out....

    But, I suppose someone out there has a need, otherwise, they wouldn't exist....
     

    Dan1612

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    If you found yourself a buyer, and you have the terms worked out, I’ll gladly give you the contracts and you can fill them out yourself free of charge. I’ll even offer limited advice.
    I’ve done that in the past as well.
     

    Realtor

    Marksman
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    If you found yourself a buyer, and you have the terms worked out, I’ll gladly give you the contracts and you can fill them out yourself free of charge. I’ll even offer limited advice.
    I’ve done that in the past as well.

    we all have....
     

    MauserLarry

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    Generally the price of the property is as high as it can be and less "coming down" by the seller because the realtor fees are taken into consideration

    Frank-of course the price is as high as it can be. Everybody wants top dollar for their stuff. Property owners almost always overprice their place. Several things come into play here.

    1. What a person can or will pay for your property.
    2. The appraised value. Anything over this comes straight out of the buyers pocket. My sister sold her house in Memphis probably 30 years ago for $10,000 more than she wanted for it. The guy that paid more had owned it in the past and wanted it back.
    3. What the mortgage company is willing to finance on the deal.

    There are probably others but these came to mind. If a person does not want to pay a fee to sell his or her house, it is easy and legal to plop a For Sale By Owner sign in their yard and do it yourself. It never worked for me but I've known people that have and I don't know a one of them that completely knocked off the real estate fees. They usually bragged to me about the extra money in their pockets. Which is true, the seller will make extra cash but what they take for their house does not affect the appraised value. What it does affect is it drives down the value of homes in the same area, a cheaper house here and there won't hurt much but a big sell-off at lower rates will cause every-bodies appraised value to drop. Take note of the older parts of town are always cheaper. It all boils down to..........if you want to save the fees......sell it yourself.
     

    FLT

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    It seems that Florida does indeed have a lot of realtors.

    According to NAR, the top 10 states with the most Realtors per capita are:

    Arizona, where 1 in every 168 residents is a Realtor
    Hawaii, where 1 in every 173 residents is a Realtor
    Florida, where 1 in every 175 residents is a Realtor
    D.C., where 1 in every 193 residents is a Realtor
    Nevada, where 1 in every 200 residents is a Realtor
    New Jersey, where 1 in every 201 residents is a Realtor
    Connecticut, where 1 in every 229 residents is a Realtor
    California, where 1 in every 241 residents is a Realtor
    Colorado, where 1 in every 257 residents is a Realtor
    Idaho, where 1 in every 267 residents
     

    bobinbusan

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    didn't know what "GOAT" meant, but once he explained it stood for "Greatest of All Time," her eyes got wide, and she said defiantly: "I want to be the GOAT."
     

    Big Shrek

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    It seems a bit ridiculous to me that I can sell $500,000 in a publicly traded stock on any business day, know how many bidders there are, how much they will bid, execute the transaction in less than 10 seconds, have my money available to me at that time, and it costs me $4.95. It's $4.95 a trade no matter if the stock is worth $1,000 or $1,000,000. On a $1,000 trade, the commission is 1/2 of 1 percent. But if I want to sell a parcel of land, I have to get a contract with an agent who wants 7% (10% for land), another agent gets involved to represent the buyer, I generally only have one bidder and I really don't know how much he is willing to pay, I've got to get an attorney involved to do a title search, pay a title company to do the closing, pay the county to record the deed, and there are others with their hands out wanting money too (e.g. home inspector, surveyor, etc).

    As a seller, you are less interested in a home inspection than the buyers are...
    Although almost any person who can read a checklist and knows housing construction fairly well can do it...but often prospective buyers aren't looking like they should be looking, like an inspector will. Prospective buyers don't usually crawl into the attic or under the house to check everything out.

    ANYONE buying a home that was built Pre-Ivan NEEDS an inspection...it's just so much fun to buy a home that has mold growing across the entire attic and inside the walls since Ivan. Literally didn't find my mold problem until starting on a bathroom demo and discovered a half-inch thick growth on the inside of the walls. So now I'm in a bleeping tiny apartment because my house had to be bulldozed, and insurance only paid off the mortgage...leaving zilch left to get a new house with. Lovely, right? EVERY BUYER should get a GOOD INSPECTION DONE. Every seller should do it before their house hits the market so they can find & fix any issues that are found before it goes to market...or adjust the price accordingly, disclose it, and let the buyer deal with it.

    Surveyors find out if the property lines are actually the ones you built a fence on...or over...we've all heard horror stories of a guy buying a home and finding out his driveway is on the neighbor's property...or his fence is...or even more fun, when someone buys the house next door and gets a survey showing that your fence that's been up for 20 years is encroaching their property...

    And then even MORE fun...Tribal Rights. The Florida Regs...let's say they're really interesting!!

    So yes, there are all sorts of things that go into Property sales...for a reason.
    One can ignore them and hope for the best, or check all the particulars and cover one's buttocks.
     

    Telum Pisces

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    I just wish I had the problem of selling a $525K home! :boink:
     

    MauserLarry

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    It seems a bit ridiculous to me that I can sell $500,000 in a publicly traded stock on any business day, know how many bidders there are, how much they will bid, execute the transaction in less than 10 seconds, have my money available to me at that time, and it costs me $4.95. It's $4.95 a trade no matter if the stock is worth $1,000 or $1,000,000. On a $1,000 trade, the commission is 1/2 of 1 percent. But if I want to sell a parcel of land, I have to get a contract with an agent who wants 7% (10% for land), another agent gets involved to represent the buyer, I generally only have one bidder and I really don't know how much he is willing to pay, I've got to get an attorney involved to do a title search, pay a title company to do the closing, pay the county to record the deed, and there are others with their hands out wanting money too (e.g. home inspector, surveyor, etc).

    I think you answered your own question. The whole deal is settled in 10 seconds without a whole lot of people involved. Your so-called $500,000 deal could also be worthless to the guy that buys it and has to sell it again at a big loss.
     

    MarkS

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    The realtor just called me to let me know I had an offer on a lot I listed
    Ten years of trying to sell it my self and he got me more than I was asking when I was going it alone even with me paying closing.
    Hopefully my gun fund will get a little bit of cash. Just got to pay off a couple of bills


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