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is it better sell my house by owner ans offer 5% to the buyer’s realtor?or go to a reputable real estate co?
June 21st, 2009 by Dirtguy | Filed under Renting & Real Estate.
anarudner asked:
A local realtor in a gated community averages 1 sale per month in that community. is it better to list my house (water view, 1 mile from the beach and listed below market price for 2 months with another realtor) with him or to list by owner with 5 % comm to the buyer’s realtor?
3 other properties have sold during that time in this gated community at a higher price. PLEASE ADVISE!
beach villa
A local realtor in a gated community averages 1 sale per month in that community. is it better to list my house (water view, 1 mile from the beach and listed below market price for 2 months with another realtor) with him or to list by owner with 5 % comm to the buyer’s realtor?
3 other properties have sold during that time in this gated community at a higher price. PLEASE ADVISE!
beach villa
Tags: Beach Villa, Comm, Gated Community, Local Realtor, Real Estate Co, Realtor Community, Sell House, Sell My House, View 1, Water View
How are you planning to market your home? how are you planning to price your home? If you ask even 5% over you may lose 70%+ of the buyers out there.
* According to Thomas M. Stevens, President of the National Association of Realtors for 2006, “Finally, the plain fact is that hiring a professional pays off. The typical home represented by a professional last year sold for 16 percent more than those sold without a professional’s help. That profit more than pays for the agent’s commission. Millions of homeowners know it, and that’s why they will continue to call on experienced real estate professionals.”
Read More about why NOT For Sale By Owner…
Instead, invest your time finding a good Realtor and you’ll win, in my opinion. If you would like to be referred to a highly qualified Realtor anywhere in the US or Canada, I would be happy to personally refer you.
Do you want to do your own marketing?
Do you want to qualify buyers or arrange financing if they need it?
Are you willing to run your own open houses and deal with the public traipsing through your house criticizing it?
Do you want to chase down leads and do follow ups?
Can you handle the legal stuff, titles, liens, inspections, closing?
I bought my current house owner to owner but still employed a Realtor to manage all the paper work (for and arranged fee).
Decide how much time you have to invest and that 5% may be a deal.
Pick the best agent and move on
All the answers here are correct. I just would add that if there is any question in any seller’s mind whether to hire a realtor or not, then I suggest you attempt to FSBO for a set period of time. If it sells and you are prepared to deal with it then great. If it doesn’t sell then go to plan B and hire the realtor. In your case, that would be the realtor who is obviously dialed into your market.
As an agent and loan originator, I am more than willing to lend a hand with a FSBO if they give me the opportunity to either work with the potential buyers on their mortgages, on the owner’s new place, or anything in between and for the opportunity for the listing if and when you decide to list.
As far as your deal, why is the property not selling? If you go FSBO then I would only offer a 2.5-3% commission with a $1000 bonus to the agent if sold by a certain date. If you offer the 5% commission then some of that may end up with the brokerage firm. The bonus can be paid direct to the agent. You save some money and the agent will benefit as well since a 5% buyer’s premium is not customary unless it is raw land. Your other concern would be as an FSBO you will have to pay a MLS listing service to market to buyer’s agents. There are also several free FSBO listing services out there. and. I have had success marketing on both.
You should sell with the realtor. The commision will be the same no matter. The buyers agent and sellers agent would just split the rate. It is set only buy the sellers realtor and is typically around 6% but there is no set amount.
Definitly choose the Realtor – You can write the commission off your taes anyway and MOST IMPORTANTLY – they have an E&O insurance policy – Basically if there is a mistake the Realtor has an insurance policy protecting YOU!
Trust me use the Realtor – too many benefits to pass up.
List it with a Realtor and give him 1% and the buyer’s agent 4%. Most people buy their homes by looking on the internet. Most MLS listings get pushed onto online websites like Realtor.com.
If you’re in Southern California, give me a call and I’ll list it for you.
Regards
GO TO A REALTOR!