- Find a Real Estate Professional
- Realtors®
- Mortgage Lenders
- Home Improvement Pros
- Other Real Estate Services
- Review an Agent, Lender or Pro
- Marketing on Zillow
- Real Estate Agent Advertising
- Join the Professional Directory
- Popular
- Real Estate Market Reports
- More
- Joan Braunschweiger, "Morris County NJ"
- Contributions:1543
Honest to God, if I was a consumer cruising around Advice and happened upon this thread, I would sell fsbo. With the exception of several agents who get it and I would hire in a minute, there's so much of the truly nauseating "you get what you pay for", "we have these huge marketing expenses, you know" (I would love to see a detailed itemization of your "expenses"), "If an agent doesn't charge {insert blatant anti-trust violation statement of "standard" commission percentage here} how can they be expected to negotiate for you?" cr*p.
Agents who choose to be competitive with their commission rate, to actually negotiate their commission (rather than just saying commissions are negotiable, then never negotiating) and perform excellent service will be successful, period.
Not all agents have to negotiate, perhaps some shouldn't have to because their reputation has gained them plenty of well-deserved business but those that try to make the argument that lower commissioned agents equals lower quality and conversely, higher commissioned agents equal higher quality sound foolish and frankly, scared.
- Caveat Emptor
- Contributions:500
FSBO is actually easier than you think. Offer a buyer incentive (3.5 gets extra attention, but even 3 or 2% will get some traffic.)
the buyer's agent does all the work, easy peasy. you just have to work at getting the word out and being professional.
expect to outlay 500 upfront, 3.5% upon sale and spend a few hours inviting agen't to "agent only" showings to get the word out. go on sites like post-lets and red-fin and FSBO.com. look around.
Keep everything clean, stay in the kitchen, be friendly, be ready to tell every single one of them that you are fine being FSBO and don't want to hire them.
if you don't want to FSBO, then, like has been said, you don't have much choice.
the buyer's agent does all the work, easy peasy. you just have to work at getting the word out and being professional.
expect to outlay 500 upfront, 3.5% upon sale and spend a few hours inviting agen't to "agent only" showings to get the word out. go on sites like post-lets and red-fin and FSBO.com. look around.
Keep everything clean, stay in the kitchen, be friendly, be ready to tell every single one of them that you are fine being FSBO and don't want to hire them.
if you don't want to FSBO, then, like has been said, you don't have much choice.
- Caveat Emptor
- Contributions:500
Debbie :)
Tiffany :)
lol
Tiffany :)
lol
- Wes Black
- Contributions:509
Wow! What a heated discussion. I enjoyed it.
- Nicholas Ribeiro, "NicholasRibeiro"
- Contributions:1807
There are other options in between, none in which you want to deal with. Get a professional and pay them the 6%. Any less is not worth the stress!
- Linda Strasberg, "L Strasberg"
- Contributions:2315
You don't have too many options when you require the services of a professional Realtor to assist you in marketing your home with the least amount of stress along the way. A professional Realtor will set a good asking price that will generate high traffic and lots of online eyeballs, thereby driving in more offers. If your home is not well presented or priced competitively, potential home buyers may select another home that stands out better from yours.
A professional Realtor will distinguish your home from hundreds of other homes on the market.
A professional Realtor knowledgeable in all aspects of the real estate transaction whether a short sale REO or traditional transaction will insure the closing proceeds in the designated time frame as agreed by both parties.
It is not the yard sign or the brokerage brand that sells the property, it is the Realtor.
Or, you can always post it on zillow and see if it sells that way. If high ticket items such as homes were able to be sold without the knowledge, expertise and guidance of licensed salespeople, the product might be inferior if not governed by the same code of ethics we adhere to..Not even zillow has figured out how to sell homes without the assistance of a professional Realtor.
I guess you're stuck with us *)
A professional Realtor will distinguish your home from hundreds of other homes on the market.
A professional Realtor knowledgeable in all aspects of the real estate transaction whether a short sale REO or traditional transaction will insure the closing proceeds in the designated time frame as agreed by both parties.
It is not the yard sign or the brokerage brand that sells the property, it is the Realtor.
Or, you can always post it on zillow and see if it sells that way. If high ticket items such as homes were able to be sold without the knowledge, expertise and guidance of licensed salespeople, the product might be inferior if not governed by the same code of ethics we adhere to..Not even zillow has figured out how to sell homes without the assistance of a professional Realtor.
I guess you're stuck with us *)
- Linda Strasberg, "L Strasberg"
- Contributions:2315
You don't have too many options if you need a professional to assist you.
You can always post it on zillow and see if it sells that way....if every product were able to be sold without the help of a salesman the costs of the product might be lower but since no one has yet been able to figure out how to do that you're stuck with us.
You can always post it on zillow and see if it sells that way....if every product were able to be sold without the help of a salesman the costs of the product might be lower but since no one has yet been able to figure out how to do that you're stuck with us.
- Tiffany Bond, "TiffanyBond"
- Contributions:3010
Debbie :)
- Debra (Debbie) Rose, "Livingston NJ"
- Contributions:2734
and I am often left speechless by agents who have no concept of violating federal anti-trust laws
- Nicholas Ribeiro, "NicholasRibeiro"
- Contributions:1807
The problem with taking a listing at a lower commission the 6% in my market is the co-op. If you do not co-op that listing at 3% you can forget it. No agent will show it! I actually had one co-oped at 2% before and showed up to a showing where the buyers agent told the buyer right in front of me this was not for sale right now but would be in 3 months. I was speechless!
- Tiffany Bond, "TiffanyBond"
- Contributions:3010
Sometimes it doesn't matter how great or tragic your marketing plan is. Sometimes it's just the price.
- Tyler Boshart, "TyBoSellsHomes"
- Contributions:24
If a Realtor's best strategy to get a listing is to offer a lower asking commission than their competition, I would take a close look at what they are leaving out of their marketing plan.
- mmmark5
- Contributions:2
Well, this is an old post but a question asked every day by every seller. I recommend you go to hungryagents.com! It worked great for me. I had three different agents competing for my business and ended up paying a total of 3.5% (1% to my agent and 2.5% to the buyer's agent). Big Savings!
And the agent I chose was someone with tons of experience and he did a great job for us. No corner cutting, he put out a lot of effort into selling our home. And one of the agents we didn't go with also impressed us, so I don't think we were just lucky. There are a lot of good but not greedy agents willing to work for a little less.
And the agent I chose was someone with tons of experience and he did a great job for us. No corner cutting, he put out a lot of effort into selling our home. And one of the agents we didn't go with also impressed us, so I don't think we were just lucky. There are a lot of good but not greedy agents willing to work for a little less.
- Tyler Boshart, "TyBoSellsHomes"
- Contributions:24
Debra Enos -
Thank you! Finally! A Realtor who is focused on the bigger picture!
Thank you! Finally! A Realtor who is focused on the bigger picture!
- Debra Enos, "Beach Cities Realtor"
- Contributions:44
Commission is not written in stone..it is negotiable. But, becareful. REALTORS do incure expenses properly marketing your property and promoting it at it's best...to get the best sales price in a reasonable amount of time, whether it sells or not. Cut rating the commission may result it a basic MLS posting, and less exposure of your home. Which could possibily result in a lower sales price. More marketing exposure, more showings, qualified buyers = possible higher sales price, which could exceed the difference in the difference in commission. Also, don't forget that you will be making payments (hopefully) while your home is being marketed. So I ask you...what caliber of agent do you want to sell your home? Please, look at the bigger picture....
- Appraisal guy
- Contributions:120
Use a discount broker. Many times they can get you into the MLS and sell your home for 3% or less. [Hotlink removed by Zillow moderator. Please see our Good Neighbor Policy for more information.]
- Debra (Debbie) Rose, "Livingston NJ"
- Contributions:2734
Tyler, I was "with you" until your last paragraph.
You have a very myopic view of the real estate world........real estate isn't conducted all over the country in the way you may think it is...........the "going" (unnamed) rate really does vary around the country.......so don't assume anything as far as what one might have to offer a buyer's agent to encourage showings.
@hpvanc: I have to agree with the comment Tiffany just made, unfortunately the overly cautious approach doesn't help your reputation in my view.
actually, my reputation is just fine, and one I am proud of......but thanks for the concern (besides, I don't see how an "overly cautious" approach is harmful - so........when you have a re license to protect, then you can decide how you want to conduct yourself on a public forum!)
You have a very myopic view of the real estate world........real estate isn't conducted all over the country in the way you may think it is...........the "going" (unnamed) rate really does vary around the country.......so don't assume anything as far as what one might have to offer a buyer's agent to encourage showings.
@hpvanc: I have to agree with the comment Tiffany just made, unfortunately the overly cautious approach doesn't help your reputation in my view.
actually, my reputation is just fine, and one I am proud of......but thanks for the concern (besides, I don't see how an "overly cautious" approach is harmful - so........when you have a re license to protect, then you can decide how you want to conduct yourself on a public forum!)
- Tyler Boshart, "TyBoSellsHomes"
- Contributions:24
This is being blown way out of proportion.
Lets just agree that we disagree.
Lets just agree that we disagree.
- Tiffany Bond, "TiffanyBond"
- Contributions:3010
"If agents' strategies and marketing plans were identical then, yes - there would be a violation of the Anti-Trust Law."
Seems like we still need some brushing up on antitrust laws. The commission percentage is generally unrelated to the marketing plan or sales strategy as it applies only when the house is sold. The commission is for selling the house, which is the service pretty much any listing agent is offering. Were this a valid loophole we'd have all sorts of folks stating they could fix a commission together but as long as one agent printed out 103 flyers instead of 101, or if one agent advertised on different websites, they'd be clear of antitrust laws. This is a personal opinion, see disclaimer below on legal opinions.
@Debbie
Just because one "could" broadcast their rates doesn't mean they "should" broadcast their rates. I don't think it always leads to a discussion on what rates should be that could head down the price fixing path of doom - but it is mighty tempting when a bunch of agents start throwing around numbers. However, I doubt one would get in trouble for making a statement like "I list at X%" in almost any forum. I am basing that on MBA level courses and an antitrust course in law school, but I am not legally competent to render an official verdict in the matter or give bona fide legal advice. Should anyone be interested in that, I recommend finding a lawyer who specializes in anti-trust work.
Seems like we still need some brushing up on antitrust laws. The commission percentage is generally unrelated to the marketing plan or sales strategy as it applies only when the house is sold. The commission is for selling the house, which is the service pretty much any listing agent is offering. Were this a valid loophole we'd have all sorts of folks stating they could fix a commission together but as long as one agent printed out 103 flyers instead of 101, or if one agent advertised on different websites, they'd be clear of antitrust laws. This is a personal opinion, see disclaimer below on legal opinions.
@Debbie
Just because one "could" broadcast their rates doesn't mean they "should" broadcast their rates. I don't think it always leads to a discussion on what rates should be that could head down the price fixing path of doom - but it is mighty tempting when a bunch of agents start throwing around numbers. However, I doubt one would get in trouble for making a statement like "I list at X%" in almost any forum. I am basing that on MBA level courses and an antitrust course in law school, but I am not legally competent to render an official verdict in the matter or give bona fide legal advice. Should anyone be interested in that, I recommend finding a lawyer who specializes in anti-trust work.
- hpvanc
- Contributions:2579
Typo, "the original poster 13 months ago," should have read "the original poster 37 months ago."
- Tyler Boshart, "TyBoSellsHomes"
- Contributions:24
Debra, I agree with you. The commission a Realtor charges is negotiable. They can charge anything they want. They have to justify why they charge what they do. If they don't seem capable, don't hire them.
Also, NEVER assume someone does not know what you are talking about. Price fixing is an agreement between participants on the same side in a market to buy or sell a service only at a fixed price. If agents' strategies and marketing plans were identical then, yes - there would be a violation of the Anti-Trust Law. As you must know, agent's marketing plans are rarely the same. What the homeowner is paying for is the agent's expertise and guidance so I would say the level of service differs greatly.
I believe you two ladies are agents and understand how difficult it is not just to sell a house, but to make it more appealing than the house next door that is selling for less. First and foremost, an agent has a fiduciary duty to serve the homeowner. They are hired to market and sell the house to their best ability to get the highest and best offer for their house. In order to do so, it comes down to numbers. The more potential buyers that see your house, the better your chances are of getting it sold.
It is known that you will have more people view a property if the seller is offering a high commission to the buyers agent.
So if the agent is hired to sell the property but the homeowner only wants to pay 5% or lower do you expect the listing agent to lower his or her commission to 2% but let the buyers agent get 3%? - Doesn't seem right.
- hpvanc
- Contributions:2579
I have to agree with the comment Tiffany just made, unfortunately the overly cautious approach doesn't help your reputation in my view.
Unfortunately not one agent suggested an alternate business model, nor in the recent belated discussion acknowledged that is a part of the problem of why agents are in a long fight with the DOJ over price fixing. Yes there are different marketing plans, but the set of services offered varies very little, some states have made that law at the behest of agents and are themselves at odds with the DOJ, and if you all charge the same or close to the same rate, it is a monopoly with price fixing. Someone should have offered the suggestion a flat rate, ala carte, or variable commission based on services desired, listing to the original poster 13 months ago.
Seems to me there is an important, but uncomfortable discussion at stake here. There are ways to discuss the issue with out violating the political compromise.
Unfortunately not one agent suggested an alternate business model, nor in the recent belated discussion acknowledged that is a part of the problem of why agents are in a long fight with the DOJ over price fixing. Yes there are different marketing plans, but the set of services offered varies very little, some states have made that law at the behest of agents and are themselves at odds with the DOJ, and if you all charge the same or close to the same rate, it is a monopoly with price fixing. Someone should have offered the suggestion a flat rate, ala carte, or variable commission based on services desired, listing to the original poster 13 months ago.
Seems to me there is an important, but uncomfortable discussion at stake here. There are ways to discuss the issue with out violating the political compromise.
- Debra (Debbie) Rose, "Livingston NJ"
- Contributions:2734
ok... on a serious note, Tiffany - it is my understanding, and it does seem a bit mirky, that in a public forum discussion one shouldn't even state : "I get x%".......because..if other agents do that, too, and one agent thinks......"gee I was getting less than that, maybe I should start asking for more"..........the end result could be "fixing" the price, even if the intent wasn't there.
I, also, prefer to err on the side of caution.
Commissions are negotiable...Mr Seller......if you'd like to know what I can do for you, and what I will charge, simply ask me... privately.... and besides - all marketing plans are not created equal...........so it really is much more involved than simply asking - "what do you charge"?
ps thanks dan - I like the "s witch out the tag" idea
I, also, prefer to err on the side of caution.
Commissions are negotiable...Mr Seller......if you'd like to know what I can do for you, and what I will charge, simply ask me... privately.... and besides - all marketing plans are not created equal...........so it really is much more involved than simply asking - "what do you charge"?
ps thanks dan - I like the "s witch out the tag" idea
- Dan, "the_country_hick"
- Contributions:4699
Debbie, I actually saw a product for that purpose. It was a stretcher that you put inside the jeans while they were wet. When they dried they were a bit larger than normal. The other option is to have a tailor make the size 8's fit although it might be easier to sew the size 8 tag on size 10 (or whatever) jeans.
- Debra (Debbie) Rose, "Livingston NJ"
- Contributions:2734
well, based on the OPs question above - I have an unrelated, but similar type of issue..............I have a pair of size 8 jeans I want to get back into...... but....... I don't want to go on a diet.
Can anyone help?
:)
( a little levity never hurt, and its more fun than discussing business plans))
Can anyone help?
:)
( a little levity never hurt, and its more fun than discussing business plans))
- Tiffany Bond, "TiffanyBond"
- Contributions:3010
You *can* be transparent to some extent. To the best of my knowledge, it's not prohibited to say "I charge X% to list a house." The problem comes in with agents making statements that either encourage or imply that everyone in a given market makes/charges X% or there is a standard commission rate. It's best to err to the side of caution in my humble opinion...but one could easily choose not to be overly cautious and still be quite forthright about their commission without violating anti-trust laws.
- hpvanc
- Contributions:2579
Of course agents would be allowed to discuss how they are compensated if not for the pesky fact that the price fixing problem is real. If agents were offering different services at different commission rates (or even different compensation models), this whole I can't admit what I charge argument would be a moot point.
Since this is a 2+ year old post, the best defense agents have on price fixing is to start looking at and offering alternate models. To a consumer that seems like a win-win situation. It allows you to create systems for the very vocal minority that doesn't like the current system reducing a reputation problem, it allows you to become more openly transparent to the public on service pricing eliminating a reputation issue, if you find a system that works that is different from the current system, and the one that is different from the one the Redfin and Zip use and many agents dislike you truly are the independent economic force that you purport yourselves to be.
Since this is a 2+ year old post, the best defense agents have on price fixing is to start looking at and offering alternate models. To a consumer that seems like a win-win situation. It allows you to create systems for the very vocal minority that doesn't like the current system reducing a reputation problem, it allows you to become more openly transparent to the public on service pricing eliminating a reputation issue, if you find a system that works that is different from the current system, and the one that is different from the one the Redfin and Zip use and many agents dislike you truly are the independent economic force that you purport yourselves to be.
- Tiffany Bond, "TiffanyBond"
- Contributions:3010
Agreed Debbie. It's really not that challenging to be vague when discussing commission. How hard would it be to say...
"If it is not the Realtor's commission, who's gets the [commission] then? The ONLY time I would consider lowering my commission would be if I was selling my mother's house. I would even do it for free for her! [It's always negotiable in general, I prefer to work at a rate I am comfortable with] I would however, convince her to pay the buyer's agent [an appropriate commission for the market]. "
"If it is not the Realtor's commission, who's gets the [commission] then? The ONLY time I would consider lowering my commission would be if I was selling my mother's house. I would even do it for free for her! [It's always negotiable in general, I prefer to work at a rate I am comfortable with] I would however, convince her to pay the buyer's agent [an appropriate commission for the market]. "
- Debra (Debbie) Rose, "Livingston NJ"
- Contributions:2734
Tiffany - unfortunately, there are a LOT of "someones" out there who are clueless in regard to anti trust laws.
I have given up trying to explain it (I am sure he person we are
referencing here has no idea what we are talking about!)
I have given up trying to explain it (I am sure he person we are
referencing here has no idea what we are talking about!)
- Tiffany Bond, "TiffanyBond"
- Contributions:3010
Someone also hasn't been reading up on appropriate behavior under anti-trust laws.
Want to sell not as FSBO & don't want to pay 6% either. Can anyone help?
Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.