How Much to Pay a RE Broker
I am about to start aggressively selling my house in Windsor Terrace. I posted an Open House notice on craigslist and got a decent response. I sold a house before on my own, and am pretty confident about my selling skills. However, after I posted the ad, I got contacted by a couple of real-estate…
I am about to start aggressively selling my house in Windsor Terrace. I posted an Open House notice on craigslist and got a decent response. I sold a house before on my own, and am pretty confident about my selling skills. However, after I posted the ad, I got contacted by a couple of real-estate agents from the top agencies claiming they have perfect buyers for me and would like an opportunity to show it to them. Given the urgency of my situation, I am considering But I don’t want to do that on an exclusive basis as I might be able to sell it on my own.
I am thinking of offering the agents 3% commission. Do you think they will take it? Does my plan sound doable and reasonable?
Any pointers will be appreciated.
Thank you
Yes – I agree with the others, your ad starts out desperate and negative. Just based on your ad, you probably should get a broker. You can do an open listing and get 2-3 brokers to show it. Usually, you get what you pay for, as you shouldn’t expect them to spend any significant money on marketing. Or, you can give a 3-6 month exclusive to one broker just make sure to ask what type of marketing they plan to use, make sure they’re tech savvy and simply wouldn’t just stick a sign in the window or rely on craigslist, they know the area, and does comps to give you a realistic price, remember, brokers and sellers don’t set prices – the market does. You don’t want to be stuck with a stale, over-priced listing 6 months from now. Also, that they will have open houses every (non holiday) weekend and they’re willing CO-BROKE. That usually will set you back 6% but in this market, you can probably neg that down to 5% if they get an offer from a buyer’s broker and have to co-broke or 3.5/4% if they get a direct buyer.
Brokers call all the FSBO’s with that pitch. Their buyers if they do have some wanting a house are looking on their own too, trust me. We did.
You definitely need to spring for a NY Times ad. All true comments above about what your listing needs but if I were seriously looking at WT, I’d still check out your house. If I saw the ad that is. So the main thing is to get the word out to buyers.
I think inside pictures are crucial. If you don’t have pictures, people may assume it’s even worse than it is. I know I feel suspicious when a RE listing has no interior photos. How soon will your tenants be out?
The price does seem a little high to me, based on the one photo and the location, but admittedly I am lacking in information. It seems like a price you’d pay for a house closer to the park (or one that’s where yours is but not needing a complete renovation).
I liked the ad but agree it needs more information. I would like a floor plan and interior photos, I don’t care how messy the rooms are, I want to see what the walls, doors, and windows look like. Definitely include any original details if there are any. Don’t forget a photo of the boiler. And the back yard and rear of house.
Man, after reading that ad, I would agree you need an agent. Your first two sentences are negative. Great to say how desperate you are to sell, that should get you some real high offers. Get an agent or get some help per what others have pointed out. Ad copy, photos, floor plans, etc.
We got every agreement in writing, which clearly spelled out when the realtor would be entitled to a commission. We also had every realtor email us the name(s) in advance of people they were going to bring.
remember that real estate agents are very litigious in general so be very careful….
When I sold FSBO, I cut deals with many agents that said I would pay them between 2 and 3% if they found us a buyer. (Some agencies would only do 3%; some I was able to get at 2 or 2.5%.) What is the downside? The brokers probably are full of it, but if they will bring in some extra potential buyers, why not? Just keep good records as to who brings who…. Also, agreed that the CL ad is missing key information (size; layout; etc). Also, it is sort of useless without pictures.
I agree with everyone else here…more info, pics, floorplan. It seems priced a bit high for what comes off as quite a bit of reno. needed. But maybe it is in better shape than you let on? It is also skirting the bounds of Windsor Terrace, so not sure about the price. Try listing lot size or square feet or something, hard to get a sense of it.