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.
Met with a Realtor
March 1st, 2015 at 04:04 pm
March 1st, 2015 at 04:17 pm 1425226629
March 1st, 2015 at 04:19 pm 1425226752
March 1st, 2015 at 05:20 pm 1425230443
March 1st, 2015 at 05:33 pm 1425231206
I hope you sell soon to get out from under that mortgage and payment!
March 1st, 2015 at 06:22 pm 1425234127
March 1st, 2015 at 06:37 pm 1425235073
March 1st, 2015 at 10:14 pm 1425248090
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.
March 2nd, 2015 at 04:53 am 1425272020
March 2nd, 2015 at 01:22 pm 1425302566
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.
March 3rd, 2015 at 12:27 am 1425342433