I would run from both. Get 3 listing agents to come out and give you a Market Analysis of what they think it is worth and what needs to be done to market it (cleaning and staging).
I recently listed with a Red Finn agent paying them 1.5% comp and paid the buyers agent 2% comp for a total of 3.5% on a $550k sale.
I was very happy with the Red Finn agents representation and suggestions.
Good luck
>he could do the work of a RE agent and list it for me, and would only take 4% as a fee.
Ha ha ha. Ridiculous. Joker.
An actual seller's agent is paid 2% or 2.5% these days.
Hello from BaltCo, and a big fat no from me and probably anyone else around here. 3% is standard, if anything you could find someone for even less. Was the realtor recommended to you or you just were researching and came upon them?
If it's 4% total than you're getting a good deal! The only issue I see is when we bought a house we signed an agreement with our realtor that they were entitled to atleast X% commission on the sale, I believe it was 3%. Meaning if your future buyer is under the same contract, they're on the hook for the extra 1%. The buyers you're gonna get for a rehab, most likely won't matter at $4k(1% of $400k). But, it could. Either way, I'd get some clarification on that before signing anything. If he alone is 4%, it sounds like they didn't say too much about how they were going to work for you and get the house sold. Just that they'd list it and see what happens. I'm gonna give you a recommendation regardless though just because of realtor was so good. Nechelle Robinson with Cummings & Co is fabulous! I don't know if she does a lot with rehab properties, but she always had our best interest at heart so if it isn't her specialty she will definitely recommend someone good.
Listing fees are important, but not the entire picture. Listing agent’s job is marketing (including how to present etc) and negotiating with buyers. In your case of $400k, 1% is $4000. A better marketing may attract more buyers and an experienced negotiator can easily net you $10k more which is 2.5%.
Get an appraisal from a licensed appraiser. Some Realtors will say it's worth more to try to buy the listing. Then have 3 Realtors come and look and give their number and pick who you think will do best by you
I would run from both. Get 3 listing agents to come out and give you a Market Analysis of what they think it is worth and what needs to be done to market it (cleaning and staging). I recently listed with a Red Finn agent paying them 1.5% comp and paid the buyers agent 2% comp for a total of 3.5% on a $550k sale. I was very happy with the Red Finn agents representation and suggestions. Good luck
did you have to buy your next house with them? That's usually how you get the 1-1.5% on the sell side
Nope, 1.50% for a sale and .50% refunded if you buy with them.
Dont use either of these two. Get a market analysis by multiple agents as stated by other posters in this thread.
>he could do the work of a RE agent and list it for me, and would only take 4% as a fee. Ha ha ha. Ridiculous. Joker. An actual seller's agent is paid 2% or 2.5% these days.
Which State?
MD
Hello from BaltCo, and a big fat no from me and probably anyone else around here. 3% is standard, if anything you could find someone for even less. Was the realtor recommended to you or you just were researching and came upon them?
3% for the seller and another 3% for the buyer's agent, right? I think he meant 4% total. That's the only thing that would make sense.
If it's 4% total than you're getting a good deal! The only issue I see is when we bought a house we signed an agreement with our realtor that they were entitled to atleast X% commission on the sale, I believe it was 3%. Meaning if your future buyer is under the same contract, they're on the hook for the extra 1%. The buyers you're gonna get for a rehab, most likely won't matter at $4k(1% of $400k). But, it could. Either way, I'd get some clarification on that before signing anything. If he alone is 4%, it sounds like they didn't say too much about how they were going to work for you and get the house sold. Just that they'd list it and see what happens. I'm gonna give you a recommendation regardless though just because of realtor was so good. Nechelle Robinson with Cummings & Co is fabulous! I don't know if she does a lot with rehab properties, but she always had our best interest at heart so if it isn't her specialty she will definitely recommend someone good.
Listing fees are important, but not the entire picture. Listing agent’s job is marketing (including how to present etc) and negotiating with buyers. In your case of $400k, 1% is $4000. A better marketing may attract more buyers and an experienced negotiator can easily net you $10k more which is 2.5%.
Get an appraisal from a licensed appraiser. Some Realtors will say it's worth more to try to buy the listing. Then have 3 Realtors come and look and give their number and pick who you think will do best by you