my home is for sale with a realtor, 1.5% to my listing agent, 2% to selling agent. slow market. up it to 3%?
- 1 decade agoFavorite Answer
It sounds to me like you went with a "discount" realtor who will list your your on the multiple listing service and that's about it. If you are paying a total of 3.5% currently, is the realtor, the marketing of the property other than being on the MLS is probably on you.
So there are several things that are probably working against you at this point in time.
* Your house may not be fully marketed other than a listing.
* Given a choice of similar houses, realtors will opt for full commission houses to guide their clients to
* Housing is just slow to sell in most areas.currently.
Ask your realtor what they are doing to market your house. If your house has been up for a long time, consider moving to a different realtor. No slam to your current realtor, but sometimes a different realtor will stir up interest on it. Weird, but it happens.
And if you are going to use a realtor and want to get the most action, put a clause in the agreement that indicates you will pay 1% more to the selling realtor who brings in a full price offer within 30 days of listing.Source(s): Full time project manager, part time real estate investor
- Bostonian In MOLv 71 decade ago
With a discount real estate agent, you must consider how much effort they're going to put into the sale personally. Most real estate is listed on the MLS so that other agents can show the property and get a piece of the pie. This significanly increases the chances of a sale since the selling agent will get their normal split.
However, with a discount agent, other agents won't spend much time on showing your property unless you offer them a full split -- typically 3% to 3.5% in most parts of the US.
By offering only 2% to the selling agent you have effectively cut them out of the picture. They're simply not going to waste their time working for a little more than half price. This is why it's so important that you pick a discount agent carefully. If you get a real tiger with top marketing skills and lots of repeat customers they'll grab for the full commission and everyone walks away happy. However, if you get a typical "coaster" of an agent your property will sit for ages without a single showing.
At the very least you need to kick the selling agent's comission up to market level to have any hope at all of getting any action on your property. An even better plan of attack would be to kick the selling agent's commision a half point ABOVE market. You'll still be 1 to 1.5 points below market in total but will get much more exposure on the MLS as other agents compete for the extra few $$$.
- Anonymous1 decade ago
It depends, do you want to sell it fast?
How are you priced compaired to other homes on your street, block, subdivision, community?
If you have a good agent, those fee's are plenty. Make sure you have a good, agressive agent. Also make sure you are not overpriced. In a slow market, buyers do know they can get a deal. Make sure you are priced accordingly.