'the villages' real estate commissions reduced.............

[stadry]

understand its been cut from 6% to 5% - anyone else hear the same ? reason not given

[Toymeister]

If true it reflects market reality,. I've used MLS Realtors at 3% (total commission) in TV.

[Stu from NYC]

If true for MLS realtors would think they would not promote a 3% commission house as hard as a 6% one.

[Toymeister]

If true for MLS realtors would think they would not promote a 3% commission house as hard as a 6% one.

Well, you are talking to me. Do you want to see my listing agreement for 3% or do you want the Realtors name (PM me) so you can verify to your satisfaction?

The way any MLS listing works in a two agent sale, is the selling party gets 2.5%. This is common, 3% to selling agent is not common. The listing agent under my listing agreement gets .5% not much. No ads, if you want professional pictures you can provide them. My cost for those was 200.00. You get MLS exposure, also Zillow and Trulia. On the flip side this guy gets a couple grand for a few hours work.

Most homes are not sold by the listing agent, a simple fact.

[charlieo1126@gmail.com]

Well, you are talking to me. Do you want to see my listing agreement for 3% or do you want the Realtors name (PM me) so you can verify to your satisfaction?

The way any MLS listing works in a two agent sale, is the selling party gets 2.5%. This is common, 3% to selling agent is not common. The listing agent under my listing agreement gets .5% not much. No ads, if you want professional pictures you can provide them. My cost for those was 200.00. You get MLS exposure, also Zillow and Trulia. On the flip side this guy gets a couple grand for a few hours work.

Most homes are not sold by the listing agent, a simple fact. maybe that stops another useless thread of rumors and fake news

[Jayhawk]

Well, you are talking to me. Do you want to see my listing agreement for 3% or do you want the Realtors name (PM me) so you can verify to your satisfaction?

The way any MLS listing works in a two agent sale, is the selling party gets 2.5%. This is common, 3% to selling agent is not common. The listing agent under my listing agreement gets .5% not much. No ads, if you want professional pictures you can provide them. My cost for those was 200.00. You get MLS exposure, also Zillow and Trulia. On the flip side this guy gets a couple grand for a few hours work.

Most homes are not sold by the listing agent, a simple fact.

Apples to oranges. You get what you pay for, obviously.

[JohnN]

It's still a goldmine for the realtors.

[vintageogauge]

If true it reflects market reality,. I've used MLS Realtors at 3% (total commission) in TV.

At 3% yours would be the last home an agent would show, they want full commissions not 1/2 commissions. Cheaper isn't always better.

[manaboutown]

Friends of mine who have bought and sold many houses related a story to me. They were being shown homes by a mother-daughter team which had a paper list of houses to show them which revealed the commission to be paid on each house. The daughter ticked off the houses to see one after another to the mother who was driving. My friend is a tall guy and he could read the list over the daughter's shoulder. They were were being shown houses from the highest to lowest commissions in order, literally.

[Toymeister]

At 3% yours would be the last home an agent would show, they want full commissions not 1/2 commissions. Cheaper isn't always better.
Virtually all homes sold by the non listing agent are 2.5%. It does not matter if you use (insert your favorite here) realtor or mine the selling agent gets the same.

So is more expensive better? If you need hand holding yes. That covers most sellers particularly those that are prone to posting here. If you don't then, yes cheaper is better, to the tune of thousands of dollars.

[graciegirl]

Houses here are much desired. Many people find a good lawyer and list them for sale by owner. We were approached by a person wanting to buy our house and we weren't quite ready to make the permanent move to a bigger house but after thinking about it we decided to come here full time. We closed then with McLin and Burnsed. It cost us to split about $750 nine years ago.

[JoMar]

Virtually all homes sold by the non listing agent are 2.5%. It does not matter if you use (insert your favorite here) realtor or mine the selling agent gets the same.

So is more expensive better? If you need hand holding yes. That covers most sellers particularly those that are prone to posting here. If you don't then, yes cheaper is better, to the tune of thousands of dollars.

Will be nice to know when it was listed and how long it takes to sell.

[retiredguy123]

I would be willing to list with a full priced agent, but I want them to provide a written marketing plan that they would need to implement, and I would require them to allow me to terminate their contract if I lose confidence in them. Also, if they bring you an offer that is less than full price, you have the option to renegotiate the commission at that time. The stated commission is only applicable when the buyer pays the full listing price, which doesn't usually happen. So, you can agree to a 5 or 6 percent commission, but it is only legally enforceable when the seller gets the full listing price.

[Jayhawk]

So, you can agree to a 5 or 6 percent commission, but it is only legally enforceable when the seller gets the full listing price.

I think you skipped class in Law School when they explained contracts.

[retiredguy123]

I think you skipped class in Law School when they explained contracts.
Every listing contract I ever signed stated a sale price for the house. The seller is not required to sell the house for a lower price. With several houses I have sold, I renegotiated a lower commission with the listing agent in exchange for accepting a lower price. That is my understanding of how a listing contract works.

[Toymeister]

Will be nice to know when it was listed and how long it takes to sell.

Why and to what end? This would only be used to criticize my decision.

Examples:

-Ah, you sold it in 35 days, if you used (insert favorite agent here) it would have sold in ten days.

-So you sold it in two days, you would have sold it for more if you used (insert firm name here).

You see in cyber world people tend to feel much better if they made a better decision than some other poster.

Meanwhile, I called four TV RE agents to see if 5% commission is the new normal. No one answered. Had anyone else tried to confirm or deny this?

[Toymeister]

I think you skipped class in Law School when they explained contracts.

I didn't skip the last thirty three years of my life as a Contracting Officer, Inspector General (Contacts), Retired Guy has it right. The next RE agent who know much about contracts will be the first one.

[tophcfa]

At 3% yours would be the last home an agent would show, they want full commissions not 1/2 commissions. Cheaper isn't always better.

A buyers real estate agent has a fiduciary duty to show their clients all the houses on the market that fit their criteria list. If they neglect to show homes to their clients, which fit their criteria list and are listed on the MLS, because they are unhappy with the terms of the listing agreement, then they are not fulfilling their responsibility as a real estate agent. If that is the case, fire their a$$ and get an agent that acts in accordance with the terms of their real estate license.

On the other hand, if you are working with a Villages Real Estate agent, all bets are off. The only code of ethics they have is what is dictated by the developer. Buyer and seller take note of that and accordingly take appropriate actions to protect your financial interest.

[Travelhunter]

Every listing contract I ever signed stated a sale price for the house. The seller is not required to sell the house for a lower price. With several houses I have sold, I renegotiated a lower commission with the listing agent in exchange for accepting a lower price. That is my understanding of how a listing contract works.
That’s what I did

[Bethwill]

Only if you buy AND sell using a Villages agent.

[Bethwill]

Only if you buy AND sell using a Villages agent.

[Robyn1963]

I am an MLS agent with Exit Realty and a Villages resident.

There is no “normal” or “typical” Commission everything is negotiable.

And I myself need to make money to support myself but would always put my clients best interest first.

Putting yourself first will always come back to bite you.

Success in the real estate world is all about relationships and referrals.

[PJackpot]

Which realtor did you use that gave you 3%?

[richs631]

If you have to pay for your pics what exactly do you do for your fee?

[theruizs]

I would be willing to list with a full priced agent, but I want them to provide a written marketing plan that they would need to implement, and I would require them to allow me to terminate their contract if I lose confidence in them. Also, if they bring you an offer that is less than full price, you have the option to renegotiate the commission at that time. The stated commission is only applicable when the buyer pays the full listing price, which doesn't usually happen. So, you can agree to a 5 or 6 percent commission, but it is only legally enforceable when the seller gets the full listing price.

Agree. We decided to sell our villa a few years ago and the listing agent encouraged us to take a less than full price offer. We agreed after she agreed to reduce her commission by $5000. So it certainly is negotiable.

[Jazzman]

I think you skipped class in Law School when they explained contracts.

Not really. Any business transaction is negotiable, most especially real estate sales.

[Alana33]

In other places I've lived:
Normally a realtor commission for residential property is 6%.
3% split between listing agent and their listing agency. 3% split between selling agent and their selling agency.
You as owner/seller can negotiate a lower commission.
You can also add a bonus amount for selling agent if property is sold within a certain amount of time/date as incentive.
Or you can FSBO, pay attorney to handle contract and closing.

[Toymeister]

If you have to pay for your pics what exactly do you do for your fee?

Ah, I thought that I made this clear in post #4, try looking there.

To be clear I don't have to pay for pictures. I wanted the highest quality pictures. I controlled that by choosing who took the pictures. I would do the same for any RE agent. I didn't choose a photographer based on price or availability, I simply chose the best. Take Brick House, TV RE agents photographer, some pics are very good, most are fair to good. I wanted Superior
pictures and that is exactly what I got.

[jgmroc67]

As a realtor for 45 years in 2 states, I never looked at a commission when gleaning available listings to show...think about it... If you want to make the sale, you are going to align the features of a house to what the client is looking for. you are not going to waste your time and gas on listings just because of the commission rate

Also, The above quote about the man looking over the shoulder and deciding the listings are shown in order of commission rate does not make sense. Again think about it.... You line up the listings in order of which ones are closest to each other.

[HoosierPa]

I listed my house on my own on Zillow and a few other sites by owner just as the pandemic was starting. We sold it in 3 days at a nice price and I paid ZERO commission I figure I paid myself about $25,000 for almost no work. The title company does all the work, not the realtor.

[manaboutown]

As a realtor for 45 years in 2 states, I never looked at a commission when gleaning available listings to show...think about it... If you want to make the sale, you are going to align the features of a house to what the client is looking for. you are not going to waste your time and gas on listings just because of the commission rate

Also, The above quote about the man looking over the shoulder and deciding the listings are shown in order of commission rate does not make sense. Again think about it.... You line up the listings in order of which ones are closest to each other.

That is what happened. The list had both home prices and the commissions listed. The homes were all not far from one another within a gated community. These folks bought and sold at least twenty houses in ten years as they were flippers.

When they sold a couple of times in tougher markets they used a local MLS broker who did the listings for half a percent. The guy did a lot of them and made good money. Then they used the best photographer in the area $400- $700. They also staged their homes. They were making several hundred thousand dollars a year doing this in Orange County, CA. One house they bought for $700,000, put a lot of work into it while they lived there, and sold it FSBO four years later for $1,700,000. They knew what they were doing.

They picked up sales contract forms at the Newport Beach Realtor Association office and used those on their sales which were usually sold FSBO.

[Tlodge]

Just sold my house in Jacksonville.Went on market Monday at 5PM signed contract at 9PM last night.Paid 3 1/2 % commission.2% to buyers agent 1 1/2% to my agent.If he brings a buyer he gets the whole 3 1/2%.He had a professional photographer take pictures,did a 360 virtual tour.Showed the house approximately 8 times.Was asking $275,000,got $272,500.

[Worldseries27]

understand its been cut from 6% to 5% - anyone else hear the same ? Reason not given
art of the deal.
Lowering a commission is simple economics to generate sales and purchases. Wheres the mystery?

[newgirl]

I sold real estate for over 20 years and can tell you that agents have to split the commission with the broker , pay all advertising and other fee’s so when you say it is a 3 percent( I always demanded 7 percent , yes, lol and got it) commission the agent after all costs are lucky to see a full 1 percent . This is mls agents, village sales people do not pay for any marketing costs or cost associated with selling a property so they should be a bit less. So, understanding this you can see why agents would not be in a hurry to sell yours . Most homes listed at a reduced rate end up selling for far less then what you can walk away with offering a great commission. In fact, if I had a challenging listing I would have a seller offer a 8 percent and not once, have I ever not sold a house that was marketed this way for not only the best possible price, but also in the quickest time possible.
MLS agents are Realtors , meaning they not only have legal training hours every year but in order to be a Realtor they must go through a screening process , and is 100 percent responsible for the entire sale, where The Village sales are treated like employees and their only job is to show and write contracts . Where I sold in Mi we were responsible for making sure title is clean ( most do not understand a title company gives you a title but they do not tell you what is in it or deed restrictions etc. )The title companies around here would be out of business anywhere else, if you do not have a full time professional realtor then please( after what I have seen) hire a lawyer!
More commission, more money in the end on your house.

[Halibut]

If you want to make the sale, you are going to align the features of a house to what the client is looking for. you are not going to waste your time and gas on listings just because of the commission rate.

Also, buyers have been able to search listings for at least a couple of decades now. If we're in the market, we're usually the one who tell our Realtor which properties we want to see.

[JohnnyP]

I am currently downsizing with plans to move to TV in a few years. Sold another vacation home with a contract that explicitly specified full commission If sale price was greater than or equal to 95% of the listing price. Commission was reduced by 1% if the sale price was less than 95% of the listing price. The house was listed in March 2020, we had several showings, and was under contract in 27 days, at 95.2% of the listing price. Just closed on the house last week, and continuing on-plan to downsize and move to TV in the near future.

[CharlieRoy]

Hi, I would appreciate the name of your listing agent. Thanks

[CharlieRoy]

I listed my house on my own on Zillow and a few other sites by owner just as the pandemic was starting. We sold it in 3 days at a nice price and I paid ZERO commission I figure I paid myself about $25,000 for almost no work. The title company does all the work, not the realtor.

Hi HoosierPA, can you recommend a source for the disclosure and sales offer forms that you used? Additionally, did you reach out to a title company and closing attorney in advance of listing? Thanks

[vintageogauge]

Every listing contract I ever signed stated a sale price for the house. The seller is not required to sell the house for a lower price. With several houses I have sold, I renegotiated a lower commission with the listing agent in exchange for accepting a lower price. That is my understanding of how a listing contract works.

If I was an agent and brought you a lower offer, ( they do have to present it to you even if it's a lowball) then you asked me to lower my commission I would walk. This is how these people make their living, they do what they have to in bringing you an offer but now you feel their effort is not worth what you agreed to pay. Very sad way to treat someone that is working for you.

[retiredguy123]

If I was an agent and brought you a lower offer, ( they do have to present it to you even if it's a lowball) then you asked me to lower my commission I would walk. This is how these people make their living, they do what they have to in bringing you an offer but now you feel their effort is not worth what you agreed to pay. Very sad way to treat someone that is working for you.
I understand your opinion. But, I would just point out that the listing contract is prepared by the broker, not by the seller. Their contract says the seller agrees to pay a specified commission on a full price offer. So, the seller has not agreed to pay a full commission on a reduced price offer unless it is stated otherwise. If that is what they expect, then they should rewrite the contract. I can assure you that, if you fail to adhere to any part of the listing contract, they will enforce it against you.

[vintageogauge]

I understand your opinion. But, I would just point out that the listing contract is prepared by the broker, not by the seller. Their contract says the seller agrees to pay a specified commission on a full price offer. So, the seller has not agreed to pay a full commission on a reduced price offer unless it is stated otherwise. If that is what they expect, then they should rewrite the contract. I can assure you that, if you fail to adhere to any part of the listing contract, they will enforce it against you.

You're still taking income away from the agent that is actually doing all the work. I would not accept a lower commission and if you chose to not accept the offer with full commission I would walk away from you and take my client to another home, there are plenty of them for sale.

[OrangeBlossomBaby]

Apples to oranges. You get what you pay for, obviously.

So, if I had a high-end home, let's say I bought it for $549,000 a 3000SF 3bd/3bth with mature landscaping, backing onto the wildlife preserve (with low fencing), a birdcage with a heated pool and spa, 3-car garage plus a 2-cart garage plus a front screened in porch, no carpeting, gourmet kitchen, italian marble tiling, walk-in shower, etc. etc. etc.

And I sold it when I decided to downsize - and didn't use any real estate agent at all.. did a "for sale by owner" thing on Facebook..or here on ToTV..

you're saying the house is worthless because there wasn't any agent getting 6% of the sales price as commission?

Are you really seriously believing that?

[OrangeBlossomBaby]

You're still taking income away from the agent that is actually doing all the work. I would not accept a lower commission and if you chose to not accept the offer with full commission I would walk away from you and take my client to another home, there are plenty of them for sale.

...and then the buyer can tell you "well you know, since you don't want to be part of this deal - I'm going to just walk away from you. *I* like that house. So with or without your help, I'm buying it. Do you want a commission or not?"

The buyer decides whether to buy the house or not - not the agent representing them. If you don't like the commission, you can walk away, but you can't "take the buyer with you" if the buyer likes the house.

[vintageogauge]

...and then the buyer can tell you "well you know, since you don't want to be part of this deal - I'm going to just walk away from you. *I* like that house. So with or without your help, I'm buying it. Do you want a commission or not?"

The buyer decides whether to buy the house or not - not the agent representing them. If you don't like the commission, you can walk away, but you can't "take the buyer with you" if the buyer likes the house.

The buyer made you an offer which you declined, you should have made a counteroffer rather than try to beat down the agent that brought them. And don't forget once that agent brought a buyer to your house if he comes back later on his own you still owe the commission, that too is in the contract. Lesson here is don't be a cheapskate.

[Brandigirl]

understand its been cut from 6% to 5% - anyone else hear the same ? reason not given

Yes, that is true. We just sold one of our homes at 5% with The Villages Realtor. It was on the market for 5 months (at 6%). It was 2 weeks due to be renewed (had 6 month contract) and I guess they didn't want us to switch with realtor outside The Villages. So The Villages Realtor said he would lower since it took so long to sell. Then we got lucky and 2 weeks later, it sold. I don't know if they are now starting at 5% or lower it from 6 to 5 % after it hasn't sold for a few months.