Realtor Question

Hi,

I am second guessing things because of my mother. Here's the story:

Several years ago I was looking to sell and buy a bigger home. When the time came, my credit wasn't where it needed to be and we decided to hold off. I was in no rush and, I have come to learn, things do happen for a reason. I loved the realtor we used and felt horrible about pulling our house.

I decided to list my house a few weeks ago and rent for a bit while I sort a few things out personally. A family member strongly suggested I use their realtor. I really like him, he educated me on a few things, is very responsive, etc. He is charging me a 4% commission. He is based in Brooklyn and his wife works on Long Island.

In talking to my mother this morning, she said that no realtor would want to show my house at 4% and that he did me a disservice by reducing his commission. She also said that he being in Brooklyn was a problem because he isn't connected with the local realtors (i am in Levittown).

I know when I was originally looking to purchase I did my own homework and gave MLS numbers to my realtor. I actually lived in Brooklyn at the time. She said most buyers don't do that and they lean more on their realtor.

I'm just curious to your experiences and if I shot myself in the foot. I just want to sell my house and really didn't think it would be this complicated. Lol.

Thanks for any input!

Re: Realtor Question

I am not a realtor but I don't see why they wouldn't show your house for a 2/2% split. I think Realtors would prefer quantity (number of sales) vs. quality (half a percentage more commission per sale) as I am sure they have quotas and bonuses they can meet at the end of the month/quarter for more $$$.

Re: Realtor Question

The 4% is normal IMO, not the issue. The larger issue is it may pose an issue that he is not local to your area/town. But even that may not be an issue. Your mom is wrong, plenty of agents are going by 4%.

Re: Realtor Question

Ok. Thanks. I didn't think it was that much of an issue but she kept going on about it.

I wondered if him not being local would be a problem but I remember doing my own homework and it didn't matter who the selling realtor was, you know? UGH. I hate second guessing myself

Realtor Question

The commission IMO isn't and issue.

I agree with the fact he's not local. IMO you want to have someone that knows the area and the market. the market in Brooklyn is not the same as Levittown

Re: Realtor Question

I don't see the commission as being an issue. It doesn't matter what he gets, it really matters what he is offering out to cooperating agents (who will bring buyers). As long as he is offering out compensation that is in the range of normal on Long Island, it should be fine. You can ask him what he's offering out to buyer's agents if you don't know.

I don't think the location of his office matters much as a listing agent, as long as his marketing, negotiation skills, etc. are good. If an agent is totally unfamiliar with an area, it is not ideal, but it is more of an issue as a buyer's agent, in my opinion.

I am based in southeast Nassau, but I sell properties all over Long Island, and occasionally Queens. Right now, I have listings in Levittown, Seaford, East Setauket, Selden, N. Bellmore, Wantagh. I just closed on a house in West Islip. I don't think my clients suffer because I work beyond my own town and the surrounding towns, because I make sure that I familiarize myself with what I need to know about every area and I have a great marketing plan, strong negotiating skills, and always try to put in the effort for my clients. As long as your agent is doing that, and it sounds like you are happy with him, it should be fine.

But when I am showing houses, I don't care if the agent who is listing it is local or not, as long as they will be cooperative and fair (I can get access to show the house, they are forthcoming with answers to questions, they are easy to reach and responsive, etc.).

Re: Realtor Question

Christine,

Thank you for your insight! He actually lives in Massapequa and knows Levittown well. I have confidence in him and really like him.

I kind of thought my mom wasn't making much sense. Especially now that consumers have easier access to inventory.

Thanks!

Re: Realtor Question

Honestly I know a few people who have offices in the city/Boros but are on the island frequently. Often the reverse commute is better, and hey, money is money.

I'm not a REA, but like anything else, too many people think they are an expert in fields they know nothing about.

Good luck with your sale!!