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

Closed Thread
Thread Tools
  #1  
Old 08-13-2020, 07:01 AM
stadry stadry is offline
Senior Member
Join Date: Dec 2019
Location: atl (marietta) - 1/20 bought on killington loop then covoid hit - looking again
Posts: 435
Thanks: 220
Thanked 258 Times in 129 Posts
Default 'the villages' real estate commissions reduced.............

understand its been cut from 6% to 5% - anyone else hear the same ? reason not given
  #2  
Old 08-13-2020, 07:12 AM
Toymeister's Avatar
Toymeister Toymeister is offline
Platinum member
Join Date: Sep 2016
Posts: 1,680
Thanks: 343
Thanked 2,335 Times in 729 Posts
Default

If true it reflects market reality,. I've used MLS Realtors at 3% (total commission) in TV.
  #3  
Old 08-13-2020, 08:53 AM
Stu from NYC Stu from NYC is offline
Sage
Join Date: Feb 2020
Posts: 12,432
Thanks: 1,160
Thanked 13,937 Times in 5,277 Posts
Default

If true for MLS realtors would think they would not promote a 3% commission house as hard as a 6% one.
  #4  
Old 08-13-2020, 09:30 AM
Toymeister's Avatar
Toymeister Toymeister is offline
Platinum member
Join Date: Sep 2016
Posts: 1,680
Thanks: 343
Thanked 2,335 Times in 729 Posts
Default

Quote:
Originally Posted by Stu from NYC View Post
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.

Last edited by Toymeister; 08-13-2020 at 09:36 AM.
  #5  
Old 08-13-2020, 09:41 AM
charlieo1126@gmail.com charlieo1126@gmail.com is offline
Sage
Join Date: Jun 2019
Posts: 2,588
Thanks: 16
Thanked 2,883 Times in 1,100 Posts
Default Thankyou

Quote:
Originally Posted by Toymeister View Post
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
  #6  
Old 08-13-2020, 09:45 AM
Jayhawk's Avatar
Jayhawk Jayhawk is offline
Gold member
Join Date: Feb 2013
Posts: 1,450
Thanks: 3
Thanked 1,772 Times in 512 Posts
Default

Quote:
Originally Posted by Toymeister View Post
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.
  #7  
Old 08-13-2020, 09:52 AM
JohnN's Avatar
JohnN JohnN is offline
Sage
Join Date: Feb 2007
Posts: 3,566
Thanks: 6
Thanked 1,647 Times in 589 Posts
Default

It's still a goldmine for the realtors.
  #8  
Old 08-13-2020, 10:25 AM
vintageogauge vintageogauge is offline
Sage
Join Date: Aug 2016
Location: village of Fenney, Ford City, Pa., and Hudson, Ohio
Posts: 4,109
Thanks: 6
Thanked 4,284 Times in 1,427 Posts
Default

Quote:
Originally Posted by Toymeister View Post
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.
  #9  
Old 08-13-2020, 10:30 AM
manaboutown manaboutown is offline
Sage
Join Date: Aug 2009
Location: NJ, NM, SC, PA, DC, MD, VA, NY, CA, ID and finally FL.
Posts: 7,377
Thanks: 12,795
Thanked 4,572 Times in 1,748 Posts
Default

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.
__________________
"No one is more hated than he who speaks the truth." Plato

“To argue with a person who has renounced the use of reason is like administering medicine to the dead.” Thomas Paine
  #10  
Old 08-13-2020, 11:10 AM
Toymeister's Avatar
Toymeister Toymeister is offline
Platinum member
Join Date: Sep 2016
Posts: 1,680
Thanks: 343
Thanked 2,335 Times in 729 Posts
Default

Quote:
Originally Posted by vintageogauge View Post
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.
  #11  
Old 08-13-2020, 01:47 PM
graciegirl's Avatar
graciegirl graciegirl is offline
Sage
Join Date: Mar 2008
Posts: 40,004
Thanks: 4,850
Thanked 5,493 Times in 1,903 Posts
Send a message via AIM to graciegirl
Default

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.
__________________
It is better to laugh than to cry.
  #12  
Old 08-13-2020, 04:31 PM
JoMar JoMar is offline
Sage
Join Date: Apr 2014
Posts: 4,813
Thanks: 10
Thanked 2,302 Times in 865 Posts
Default

Quote:
Originally Posted by Toymeister View Post
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.
__________________
No one believes the truth when the lie is more interesting

Berks County Pennsylvania
  #13  
Old 08-13-2020, 05:00 PM
retiredguy123 retiredguy123 is online now
Sage
Join Date: Feb 2016
Posts: 13,939
Thanks: 2,272
Thanked 13,412 Times in 5,105 Posts
Default

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.
  #14  
Old 08-13-2020, 05:44 PM
Jayhawk's Avatar
Jayhawk Jayhawk is offline
Gold member
Join Date: Feb 2013
Posts: 1,450
Thanks: 3
Thanked 1,772 Times in 512 Posts
Default

Quote:
Originally Posted by retiredguy123 View Post
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.
  #15  
Old 08-13-2020, 06:16 PM
retiredguy123 retiredguy123 is online now
Sage
Join Date: Feb 2016
Posts: 13,939
Thanks: 2,272
Thanked 13,412 Times in 5,105 Posts
Default

Quote:
Originally Posted by Jayhawk View Post
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.
Closed Thread

Tags
reason, hear, villages, cut, understand

Thread Tools

You are viewing a new design of the TOTV site. Click here to revert to the old version.

All times are GMT -5. The time now is 07:49 AM.