Selling House Question

[ForceFed4g63]

I'm selling a house for the first time, so pretty ignorant of the whole process. I got the listing agreement from my realtor, and there is a clause on there about me paying 3% for the buyer's broker. Is that industry standard? I wasn't aware I had to pay for the buying and selling broker, that's an additional hefty chunk of change I won't get if so...

[greengp]

I'm not 100% sure but most realtors charge 3%. You probably should shop around. Some realtors will really work hard to get your house sold and then theres ones who will drag their feet and still charge 3%.

[WWhittle]

Yes, that's the standard. Seller pays both sides of the commission for a total of 6%.
You can try to find an agent to agree to list your home for less than 3% on your side, but if you offer less than 3% to the buyers agent you will not get as many showings, guaranteed.

If you chose to sell it FSBO, you should still offer 3% to a buyers agent, or a flat dollar amount.

You could ask your agent to take 4-5% if they act as a dual agent. That would save you a little bit and it wouldn't be out of the norm for you to request a reduction in that scenario.

[ForceFed4g63]

Yes, that's the standard. Seller pays both sides of the commission for a total of 6%.
You can try to find an agent to agree to list your home for less than 3% on your side, but if you offer less than 3% to the buyers agent you will not get as many showings, guaranteed.

If you chose to sell it FSBO, you should still offer 3% to a buyers agent, or a flat dollar amount.

You could ask your agent to take 4-5% if they act as a dual agent. That would save you a little bit and it wouldn't be out of the norm for you to request a reduction in that scenario.


Thanks for the info. Just wanted to make sure that was normal. Normally I would consider doing FSBO but with me living out of town during the week and not even at the house it really wouldn't be feasible.

[CINDERBLOCK]

Some realtors will really work hard to get your house sold and then theres ones who will drag their feet and still charge 3%.

:bigthumb:

[94FormulaBird]

specs on the house?...we will be in the market after the wedding

[04ctd]

~1300 sq ft
3br 2ba
single garage
quiet area near Otranto, easy access to main roads

it is clean & nice & pretty inside. paint looks fresh in LR, think it had some granite counter tops? (I was looking mostly at the CTS-V rim in the box in the LR)
has a new roof & some other stuff

...now, about that 3% check, make sure you spell my name right...

[ForceFed4g63]

~1300 sq ft
3br 2ba
single garage
quiet area near Otranto, easy access to main roads

it is clean & nice & pretty inside. paint looks fresh in LR, think it had some granite counter tops? (I was looking mostly at the CTS-V rim in the box in the LR)
has a new roof & some other stuff

...now, about that 3% check, make sure you spell my name right...

Lol you got it.

I will have a thread up in the next few days with details, pics, etc.

Quick and dirty though:

Listing for 130k
Located in Northwoods Estates at the end of Otranto, quiet area, super nice neighbors
Single Garage
3 bedroom, 2 bath, 1250 sq ft.
Corner Lot, storage shed in back (fenced back yard)
New Roof (less than 6 weeks old), including new chimney cap and vent
New (April 2013) HVAC system (AC, heat pump, etc) with a transferable 5 year warranty
New (less than 6 months) Granite (real) countertops in kitchen
New (less than a year) Pergo flooring throughout living and dining area and hallway
Less than 2 year old ceramic tile floor in kitchen and pantry
Brand new backsplash in kitchen
New paint throughout
New light fixtures

I'm sure I'm forgetting plenty but it'll be listed either Monday or Tuesday and I'll post a thread up.