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Met with a Realtor

March 1st, 2015 at 08:04 am

We met with a realtor on Friday about selling our home. The good news is that our home has appreciated since we bought it, by enough to cover the commission. And it should sell FAST. Two homes on our street have had offers in the last two months in 10 days or less!

This realtor will definitely do her work likely earn her commission. But when I see that huge number, I feel a bit sick to my stomach. That money could cover a year of college!

We have not yet agreed to have this realtor be our agent, so we could still officially do our own marketing and sell on our own. We have never done that before and likely won't. We did know how much a realtor cost when we bought, so this isn't new information. We even figured this cost in when we bought. It's just seeing that big number on a piece of paper that bothers me.

The agent wants to have it listed by the beginning of April, just after Easter. My biggest concern is listing too soon and having people see it but not want to wait to close until mid June. Although I would think families would be good with this if they have school age children. My preference is the last week of April. We are still discussing and really just need to firm up a trip to our new state first.

The other good news is we should easily walk away with $12-13K. The paying down of the mortgage has made a big difference in that regard.

10 Responses to “Met with a Realtor”

  1. scottish girl Says:

    That's good that your home has appreciated. Will you be able to take a trip to your new state soon?

  2. creditcardfree Says:

    Husband leaves VERY soon to drive there, my youngest daughter and I will likely go for a visit at the end of March. Waiting for him to report in to firm up our plans. The main reason we need to go is to visit several schools. That will then help us narrow down where in the city we plan to live!

  3. ceejay74 Says:

    ah, so jealous. We'll be taking such a bath on ours, assuming ever do sell it. Happy for you though!

  4. creditcardfree Says:

    Ceejay, we are in a highly sought after school district and happen to live in a newer area where there are no more single family lots to build on. House is only three years old. We only buy new IF there will be no more homes sold by the builder at the time we sell, otherwise you are competing with the builder at the time of sale, which usually isn't good.

    I hope you sell soon to get out from under that mortgage and payment!

  5. scfr Says:

    Are you speaking will a full-fee agent? If so, have you looked in to lower-fee agents or thought about negotiating the fee with the agent?

  6. creditcardfree Says:

    Yes, this is a full fee agent, Coldwell Banker...many home seem to list with lower fee agents around here and then later list will full fee, so I think we are wasting our time. I don't think she would take a lower fee, unless she brings the buyer. She is a top 10 agent in the area every year, so her fee would likely be worth the effort she puts in. Part of me hopes, someone we know that knows someone might want to buy before we sign to list. But that is likely far fetched!

  7. PatientSaver Says:

    Well just becus a 6% commission is "traditional," why not do what I did and negotiate that darn commission. If the house will really sell itself then why should he/she get the full 6%?

    When I had my house on the market briefly about 5 years ago, I interviewed 3 sets of realtors and, among other things, asked them if they were open to negotiating the commission. I think they knew if they said "no" it wouldn't look good on them as I had told them casually when we first met that I was meeting with several different realtors.

    I negotiated a 4.5% commission, which I think is plenty. They won't want to walk away from getting at it at all so i think they figure it all comes out in the wash as it's hard to say how much actual marketing/work they'll wind up doing on any given home.

    Even if they say they are full fee, doesn't mean you can't bring it up.

  8. MonkeyMama Says:

    Good Luck ccfree! I am totally with you. You can really get what you pay for in a realtor. Where we live though the stakes are high. I've seen too many people lose six figures because they wanted to save 1% on a realtor. (Those are always the people we buy from, so has worked well for us. Wink ).

  9. creditcardfree Says:

    Yes, PatientSaver, we can ask. I don't think it will happen however.

    Thank you for your comment, MonkeyMama, I completely agree that saving 1-2% while a large chunk of change can often lead to other problems and issues that are more costly in the end. This woman is definitely connected to the area, knows our builder...many positives really. When I look past the total amount, I really think she is the right realtor for us and will get the house sold fast and closed on time...doing due diligence on checking our buyer can afford home and get a loan. They have a guarantee program for someone who might need to sell in order to buy our home. The list goes on and on.

  10. FrugalTexan75 Says:

    That's great that your home appreciated so much!

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