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betty
My boys
Member since 5/05 4380 total posts
Name:
Beth
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Real Estate Brokers Fees
Does anyone know what % the realtor gets from the seller on a house?
Does anyone know if their is any type of contract sellers have to sign stating that they can't take a house off the market and sell it privately.
TIA
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Posted 8/26/05 5:23 PM  |
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Prudential Douglas Elliman Real Estate
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DjPiLL
Member since 5/05 3664 total posts
Name:
Richard
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Re: Real Estate Brokers Fees
You should be a little more specific with your question and how it relates to you.
Are you currently a seller? Are you currently using a listing agent? Did you sign any contracts with the listing agent? Does the contract have an exclusive clause in it that does not allow you to sell privately?
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| Posted 8/26/05 5:31 PM |
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pnm1654
Mommy to 2 boys!
Member since 5/05 4565 total posts
Name:
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Re: Real Estate Brokers Fees
Posted by betty
Does anyone know what % the realtor gets from the seller on a house?
Does anyone know if their is any type of contract sellers have to sign stating that they can't take a house off the market and sell it privately.
TIA
My friend is a real estate agent. She said now average commission is 4%.
And yes, there are contracts sellers sign with real estate agents that are exclusive listings. Usually they are limited in time. Meaning that they can't sell the house privately or with another real estate agency for a certain amount of time. Once that time passes and if the real estate agency has not sold the house, the owner can then sell it privately or with another agency.
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| Posted 8/26/05 5:34 PM |
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MrsERod
Praying for Everyone.
Member since 5/05 26170 total posts
Name:
MrsERod™®
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Re: Real Estate Brokers Fees
Posted by betty
Does anyone know what % the realtor gets from the seller on a house?
Does anyone know if their is any type of contract sellers have to sign stating that they can't take a house off the market and sell it privately.
TIA
rates vary, and can be anywhere from 2% - 8%... (the mom & pop agencies, are usually what they call the "discount" agencies, and offer the lower rates)
The contract your referring to is called a Listing Agreement. this agreement is for a certain amount of time, and depending of the type of agreement, (exclusive agency, exclusive right to sell)...the homeowner can or cannot sell it privately. once that time is up, the seller is free and clear to either 1. sign an extension w/that agency, 2. sign w/an entirely different agency, or 3. sell it on their own
hth
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| Posted 8/26/05 5:52 PM |
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betty
My boys
Member since 5/05 4380 total posts
Name:
Beth
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Re: Real Estate Brokers Fees
Thank you girls.......It's someone I know selling the house but it's on the market now through an agency. We were thinking of offering a little lower price privately but wasn't sure if they could do that.
Thanks again
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| Posted 8/26/05 5:55 PM |
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DjPiLL
Member since 5/05 3664 total posts
Name:
Richard
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Re: Real Estate Brokers Fees
Posted by betty
Thank you girls.......It's someone I know selling the house but it's on the market now through an agency. We were thinking of offering a little lower price privately but wasn't sure if they could do that.
Thanks again
That can be done if the seller does not have an exclusive clause in his listing agreement. He has to read the FINE PRINT.
There is nothing wrong in trying to get around RE brokers. Their commissions IMO are outrageous as it is.
If you can offer him a little less and avoid the commission... go do it.
He sells his house... you save some buks... its all good in the end!
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| Posted 8/26/05 6:01 PM |
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MrsERod
Praying for Everyone.
Member since 5/05 26170 total posts
Name:
MrsERod™®
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Re: Real Estate Brokers Fees
Posted by DjPiLL
Posted by betty
Thank you girls.......It's someone I know selling the house but it's on the market now through an agency. We were thinking of offering a little lower price privately but wasn't sure if they could do that.
Thanks again
That can be done if the seller does not have an exclusive clause in his listing agreement. He has to read the FINE PRINT.
If he/she signed an "Exclusive Agency" Listing Agreement, then yes, it can be done.
If he/she signed an "Exclusive Right to Sell" Listing Agreement, then the seller would still have to pay the commission fee, even if the seller found the buyer.
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| Posted 8/26/05 6:07 PM |
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betty
My boys
Member since 5/05 4380 total posts
Name:
Beth
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Re: Real Estate Brokers Fees
Thank you all
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| Posted 8/26/05 6:34 PM |
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