The Money Mustache Community
Learning, Sharing, and Teaching => Real Estate and Landlording => Topic started by: Dee 72013 on February 03, 2016, 01:44:22 PM
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[MOD NOTE: Split from other thread into separate discussion.]
When selling a home can you negotiate relator fees? We hate the thought of giving 6% to a relator or is it worth the $ to get a better price?
We found a few realtors that will help sell our home for a flat fee but that just covers basic service but it could potentially save us $$.
Also any thoughts on buying a newly built home? Is there any flexibility in price or is it usually firm?
Thanks
Dee
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When selling a home can you negotiate relator fees? We hate the thought of giving 6% to a relator or is it worth the $ to get a better price?
You absolutely can, whether or not you should depends on your experience and the market. Often a good agent can net you more than their fees through their marketing, so you get a higher price. Other times, particularly in hot markets, it won't matter, and you might be able to negotiate, or go without an agent, FSBO.
We found a few realtors that will help sell our home for a flat fee but that just covers basic service but it could potentially save us $$.
Yes, this can be a good scenario, to get your house listed on the MLS, but not necessarily have to pay all the agent's percents--keep in mind though, you'll still have to pay the buyer's agent, if any.
Also any thoughts on buying a newly built home? Is there any flexibility in price or is it usually firm?
Again, depends on the market. In a sliding down market, builders often will offer significant discounts to get the homes off their books. In a hot market, less flexibility.
A lot of the above just has to do with being in buyer's, or seller's, markets. And it will depend on your area as well, likely. :)
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arebelspy, Thanks for the feedback!
Right now our market is really hot & some houses are selling in less than a week that's why paying $$ to a realtor hurts :)
Dee
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arebelspy, Thanks for the feedback!
Right now our market is really hot & some houses are selling in less than a week that's why paying $$ to a realtor hurts :)
Dee
If you are selling, you should figure out how to get your property listed on MLS, if you have free time to show the house/inspections/etc. then you shouldn't need a realtor, sometimes they prefer someone other than the owner to show the house during an appraisal, but you can usually just leave a key with them and they can do it alone. If there is a mortgage, the mortgage banker will generally help tremendously, they do more work than the realtors anyways. If buying, you can find houses on MLS/craigslist, other places, generally on MLS most places are listed by realtors, you can occasionally negotiate with them a little, but you generally have to pay them at least 2-6% or a base fee.
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Good idea, thanks Jeremy
Dee
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When selling a home can you negotiate relator fees? We hate the thought of giving 6% to a relator or is it worth the $ to get a better price?
You absolutely can, whether or not you should depends on your experience and the market. Often a good agent can net you more than their fees through their marketing, so you get a higher price. Other times, particularly in hot markets, it won't matter, and you might be able to negotiate, or go without an agent, FSBO.
We found a few realtors that will help sell our home for a flat fee but that just covers basic service but it could potentially save us $$.
Yes, this can be a good scenario, to get your house listed on the MLS, but not necessarily have to pay all the agent's percents--keep in mind though, you'll still have to pay the buyer's agent, if any.
Also any thoughts on buying a newly built home? Is there any flexibility in price or is it usually firm?
Again, depends on the market. In a sliding down market, builders often will offer significant discounts to get the homes off their books. In a hot market, less flexibility.
A lot of the above just has to do with being in buyer's, or seller's, markets. And it will depend on your area as well, likely. :)
arebelspy, Thanks for the feedback!
Right now our market is really hot & some houses are selling in less than a week that's why paying $$ to a realtor hurts :)
Dee
If you are selling, you should figure out how to get your property listed on MLS, if you have free time to show the house/inspections/etc. then you shouldn't need a realtor, sometimes they prefer someone other than the owner to show the house during an appraisal, but you can usually just leave a key with them and they can do it alone. If there is a mortgage, the mortgage banker will generally help tremendously, they do more work than the realtors anyways. If buying, you can find houses on MLS/craigslist, other places, generally on MLS most places are listed by realtors, you can occasionally negotiate with them a little, but you generally have to pay them at least 2-6% or a base fee.
Arebelspy is obviously spot on BUT if your market is truly hot then you can save alot of you get it on Mls as Jeremy E said. Or if its that hot put a sign on the lawn for sale by owner. Most super hot areas people are driving around looking. I will add sometimes too Realtors get a bad rap and no I am not a realtor but have sold many many homes and some are worth the $ for the bullshit they have to put up with. When its a quick sale we feel we got ripped off or it was to easy sometimes but in the big scheme of things depending on where you live I know alot of realtors that work there asses off
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If you want a midway point, check if you like either of these two services and they serve your market:
Redfin
places.me
Mainly online, selling fee is reduced, they still pay buyers agent and list on MLS for. There are probably similar companies, anyone else know of some?
We used Redfin as a buyer in California (they have heavy presence), was very good experience, and getting a rebate check back was quite nice.