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Discount Realty Companies vs FSBO - Experiences?
Posted on 5/10/21 at 10:54 am
Posted on 5/10/21 at 10:54 am
So I’ve run across a few companies such as 1% lists, etc. claiming realty services with heavily discounted commissions but including MLS listings, etc. as part of their service. It sounds intriguing, but I’m curious about catches, etc. I hate the idea of paying 5-6% commission when selling a home I’m certain will sell relatively easily, but I also notice that the only homes in my area that are sitting unsold for extended periods are FSBO. I like the idea of splitting the difference. What says the money board experts?
4
Posted on 5/10/21 at 10:55 am to Nature Boy
You should not be paying any commissions selling a home right now. The buyer should. It's a red shot seller's market, put everything in their court.
Just get a solid realtor, stage it in an attractive manner, get good pictures of the house and put closing costs on the buyer...you shouldnt have issues selling right now.
Just get a solid realtor, stage it in an attractive manner, get good pictures of the house and put closing costs on the buyer...you shouldnt have issues selling right now.
This post was edited on 5/10/21 at 10:57 am
Posted on 5/10/21 at 10:58 am to thunderbird1100
quote:
Just get a solid realtor
You mean for the potential new home? You’re saying go total FSBO aren’t you?
Posted on 5/10/21 at 11:02 am to Nature Boy
No a realtor to sell your current home. There are people who know what they are doing when doing FSBO, but they are few and far between. Most are just trying to cheap out and end up like you said, sitting on properties forever even in hot markets. A lot of realtors wont even show FSBO homes to people.
In this case, use an expert, do it right, and right now with it being such a seller's market, you can easily negotiate closing costs (like commissions) into the buyer's court.
Just be aware if you want to push a lot of closing costs on the buyer, you might have to negotiate more on home price.
In this case, use an expert, do it right, and right now with it being such a seller's market, you can easily negotiate closing costs (like commissions) into the buyer's court.
Just be aware if you want to push a lot of closing costs on the buyer, you might have to negotiate more on home price.
This post was edited on 5/10/21 at 11:04 am
Posted on 5/10/21 at 11:12 am to thunderbird1100
Realtors charge commissions. How do you use a realtor to sell a home on zero commission? I guess I’m not understanding you..
Do you mean use a realtor but negotiate the commission to very little? Or somehow push the fees to the buyer? Or assume the selling realtor will make it up on the new home they sell you? It sounded like you said sellers shouldn’t be paying commissions right now but obviously they’ll want to be paid for their service.
Do you mean use a realtor but negotiate the commission to very little? Or somehow push the fees to the buyer? Or assume the selling realtor will make it up on the new home they sell you? It sounded like you said sellers shouldn’t be paying commissions right now but obviously they’ll want to be paid for their service.
Posted on 5/10/21 at 11:25 am to Nature Boy
Had a neighbor try to sell their home with 'Redfin' two separate times this year trying to save on the commission. It didn't sell. She got an actual agent from a brokerage and it was under contract in 2 days.
Posted on 5/10/21 at 12:19 pm to Nature Boy
FSBO and offer buyers agents 3.5%
Sit back and watch these thirsty arse agents flood you with offers for that little extra commission in their pocket.
Also very helpful when negotiating repairs when the agent really wants it to close.
Sit back and watch these thirsty arse agents flood you with offers for that little extra commission in their pocket.
Also very helpful when negotiating repairs when the agent really wants it to close.
Posted on 5/10/21 at 1:05 pm to Nature Boy
quote:
Realtors charge commissions.
Yes, and you can have the buyer pay those commissions for your listing agent. Everything is negotiable in the contract/closing with the buyer.
Typically in some buyer markets, the seller might often have to pay all the commissions to get a deal to close, for the listing agent and buyer's agent. 4 years ago when we bought our current home, while it wasn't a big buyers or sellers market necessarily, we agreed to pay listing price of the house, if the seller paid our agent's commission, which they did. I believe each agent split 6% total, for 3% each, which the buyer paid all that of.
If it was a big time sellers market, they may have come to us and said, we not only want you to pay your own agent's commission, but also our listing agent...and we might have had to agree with that if there was a chance we could easily lose the house to someone else.
It's all negotiating, but you can absolutely use an agent and avoid YOU personally paying them commissions as you can push that to the buyer, especially in the current landscape you'll probably find a buyer who will agree to that.
Posted on 5/10/21 at 3:59 pm to thunderbird1100
quote:
while it wasn't a big buyers or sellers market necessarily, we agreed to pay listing price of the house, if the seller paid our agent's commission, which they did. I believe each agent split 6% total, for 3% each, which the buyer paid all that of
You got took to the cleaners baw. No buyer pays any type of agent fee. Either you doing one helluva deep troll or you are an idiot.
Posted on 5/10/21 at 4:42 pm to Nature Boy
I've used one in the past, it worked pretty well. Lots of showings and an offer within a few days. This was 2018. I am pretty sure the commission was 2.5%. The house I sold was <200, but I could understand it being tough to swallow at higher price points.
Best part was I wasn't dealing with scheduling the showings and I didn't have to be there. They had an app that said 'someone is going to look at 4:00pm', accessed the house through a lock box, and then they'd send me any feedback I got as well. I'm sure it saved me a ton of work.
Best part was I wasn't dealing with scheduling the showings and I didn't have to be there. They had an app that said 'someone is going to look at 4:00pm', accessed the house through a lock box, and then they'd send me any feedback I got as well. I'm sure it saved me a ton of work.
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