Quote:
Originally Posted by nitch
fyi for sellers. found 2 realtors who will negotiate fees. one @ 5% and another at 4%
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I expect commission rates are regional. You will find all brokers will tell you ZILLOW prices are no good. They of course have a vested interest in securing their position.
I suggest, as we did that you compare the zillow estimate to the actual sale price. You need to do this quickly after a home is sold before Zillow updates their price.
We had TIME to plan. My statement is about four years old but based on my research the actual sale prices were never more than 5% above or below the Zillow price. The broker tries to control the situation-YOU CAN'T BLAME THEM.
Our previous home sold for 5% above the top zillow price.
We got a full listing price offer-CASH. We paid the broker the agreed upon 4% and our home was on MLS. For the opened house we had 35-40 lookers. How many of those were legitimate-ABLE TO BUY. Perhaps watching too many of those FLIPPER SHOWS, we will never know.
It might be true that other brokers were not interested in showing our property as if, I am correct it is a 50-50 split between the listing broker and the selling broker-SALESMAN so 4% is then 2%. Our place sold in 1 week to ten days and it was the listing broker who sold it. We got 395,000 so 4% is 15,800.
MY OPINION-you will interview a bunch of brokers. One will tell you I will get you ............... and you are drooling over that money-my commission is only 7%. Then, you sit and wonder. Hum, that same broker now tells you compared to what is out there you are too high. Now your house is STALE. So now you will get offeres below you new lowered price and you are stuck with a 7% commission-7% of 395,000 is 27650 compared to 4% 15,800. That 7% broker needs to get you over 12,000 more for you to net the same money. HUM would my home have sold for 395,000 plus 12,000 407,000-NOPE-and even if some starry eyed person wanted ot pay that much for it, if they needed a mortgage it would not have appraised for that much.