Broker fees for selling house

The big firms do not negotiate their fees much, but maybe now that the market is tougher they do a little. The things I personally think are much more important to negotiate is all they will do for you for the fees they earn. It's a huge mistake to take a lower commission but get almost nothing in the way of services. You'll pay a lower commission but you'll sell for a lot less and it takes longer so what's the point?

The broker should provide for you free of any up front charge (it's covered in the fees they earn):

* Some help with staging and advice on showing the property at its best, and a lot of honesty in this regard. If they let you list your place with a lot of clutter they aren't doing their job.

* Photography by a professional, in advance of the first open house. Any broker who takes the pictures themselves on their little pocket digital camera is an amateur.

* Professional floorplan. This must be done in advance of the first open house.

* Ad in the NY Times. Craigslist doesn't cut it.

Posted by: guest at February 16, 2008 1:54 PM

Big firms will match the smaller (quality)brokers. They have to in Brooklyn to be competitive.

You could also sell it yourself and allow all brokers to bring in their clients.
Then you split the commission and pay them 2.5%

Your selling broker will almost NEVER single handedly bring in a buyer. They will have open houses and other brokers will call them about it.

NO reason to use a broker, especially in Park Slope.

As far as the prevous poster, we have sold two places in the last 5 years, pretty much with a NY Times, Craigslist add and a REALISTIC PRICE.

Posted by: guest at February 16, 2008 2:58 PM

Until you've used a great broker (and I know that many aren't), you can't knock the value they can provide to your listing. Just like all other professions, there are those that aren't worth hiring. Sure there are neighborhoods like Park slope that are very much in demand, but finding financially qualified buyers and making your listing look irrestible with professional photos, a professional floorplan and some staging--is just the barebones of what a great broker will bring to the table. A good broker will also advertise in multiple venues, produce professinal marketing brochures and materials, show the apartment as often as possible, host inviting open houses, field all phone calls and emails about the property, and do a myriad of other tasks. Also remember that brokers share their commissions, so reducing it will eliminate buyers with brokers from even looking at the listing--and what you want to bring to your property is exposure, demand, and the highest price.

Posted by: guest at February 18, 2008 10:38 PM

Until you've used a great broker (and I know that many aren't), you can't knock the value they can provide to your listing. Just like all other professions, there are those that aren't worth hiring. Sure there are neighborhoods like Park slope that are very much in demand, but finding financially qualified buyers and making your listing look irrestible with professional photos, a professional floorplan and some staging--is just the barebones of what a great broker will bring to the table. A good broker will also advertise in multiple venues, produce professinal marketing brochures and materials, show the apartment as often as possible, host inviting open houses, field all phone calls and emails about the property, and do a myriad of other tasks. Also remember that brokers share their commissions, so reducing it will eliminate buyers with brokers from even looking at the listing--and what you want to bring to your property is exposure, demand, and the highest price.

Posted by: guest at February 18, 2008 10:38 PM