Skip to main content

5% or 4%?

So, looking at selling my house for $450k and looking at agent fees...6% shared seems rather steep to me. I'm an easy seller and the house should sell pretty quick, it's in good shape. Basically, I've lived here less than a year and i HATE the neighborhood. When i bought the house, it had a lot of repairs that needed doing, so I've put in $30k. Bought the house for $340k. 450-340=110. 110-30= 80k. Minus closing costs estimate $15k. 80-15=65k. With realtor fees at 6% split between buyer agent and my agent would be 27k. 65-27=38k. And that's not including all the other associated fees and any potential concessions. At 5% agent split its still high at $22500. At 4%, $18k. Now I don't know about you, but if i had an easy sell house, and they closed in 45days, i would be pretty stoked with $9000 for that work.

Is it unreasonable to ask for 4% split? I know ppl think it narrows the buyer pool because buyer agents don't want to show houses that are low commiss, and i do get that, but honestly everyone I've ever talked to (friends and family) found their house on Zillow or truila and asked their agent to setup a showing...so i guess i just don't believe that....?

Instead of split 4%, would it more appropriate to negotiate to 2 or 2.5% for my agent and buyer can oay theirs? I know this ups their out of pocket closing costs, but really, if you can't afford to close, you probably won't be able to buy this house anyways.

Am i just being foolish about all this?

Edit: y'all are concerned about the 100k sell price difference. The place was in horrible condition when i boyght, which is why it was cheap. I gutted the entire house and replaced everything, literally everything with new including bath tub\showwr, cabinets, hickory kitchen cabinets, all new appliances, etc. the works. Inspent $30k and did the work myself because i know how, i remodel houses and my husband does hvac, plumbing & electrical. Our labor to do it ourselves has been many many many hours. Would've cost $80 minimum tondo all the work we did had we paid someone to do it. Honestly probably a lot more than $80k.

submitted by /u/Important-Bid-9792
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/1uy2735/5_or_4/

Comments

Popular posts from this blog

North Carolina – “One to Buy; Two to Sell”

I realize I will likely have to contact a real estate attorney but also hoping to hear insights and experiences from others! I have a house in NC that I bought by myself in 2009, and paid off, in full, in 2022. I got married in 2023. My spouse and I have not lived in the house as our "marital residence". We have maintained separate residences even after we got married. (That a separate topic!). I am now selling this house. Realtors have told us that my husband has to sign the deed at time of transfer but I am not convinced since the house has not been our marital residence. The realtors like to use the phrase "one to buy; two to sell", which seems like a broad-stroke statement which is not applicable under all circumstances. And of course, the realtors don’t realize the details of my specific circumstances: I purchased and paid for the house in full prior to marriage Only my name is on the deed And most importantly, we have never lived in the house as a marit...

Question With Tricon "Pending ID".....

My wife and i, along with 2 other peopl applied to rent a house, and our application says "Approved, Pending ID". Anyone else know what that means? Do we pretty much have the place or are we missing something? submitted by /u/Itskrueger [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1orixqj/question_with_tricon_pending_id/

How to get started?

Hi! I’m 23F and I just graduated college with an english degree (😅) but i’ve been working in nonprofits since I was 16 and lucked into an amazing first job with an one of the biggest and best real estate non-profits! I love my job so far, but it’s my first time being surrounded by such wealth (and very hard working, deserving individuals.) To be quite honest, I‘ve had a rough few years juggling multiple jobs to finish school, and the idea of myself not living paycheck to paycheck seems light years away. This is all being said, I guess I’m posing the question towards the group of what I can do now to start building that kind of future for myself. I find real estate very interesting, and i’ve loved learning about all the machinations behind development- I’m just not sure where to begin within the industry (investment/rentals are definitely not an option for me yet). I’m also looking to go back to school, but being that I don’t know where to start, I wouldn’t like to begin classes aga...