real estate commission

**jt tailgater** · 02-11-2009, 08:35 PM

thinking of listing house in a few months. Any realtors on here or any that have sold a home lately? Question is; since the market is so slow, how far will realtors come off the full 7%? Have negotiated 6% on last sell 6 yrs ago, any possibility on anything less?

**Covenant Clone** · 02-11-2009, 08:38 PM

I am a realtor, 6% is the pretty much the norm in the market now a days. You will have a hard time getting less than that because when agents take less than the market it doesn't sit well with other firms in town. Avg. time on the market has definitely changed in this environment.

**dosry5** · 02-12-2009, 07:29 AM

We sold our home in October. Our realtor screwed up, cost us money, and in then end we almost lost the buyer. We ended up using the officer manager in our realtor's office to close the deal. They wouldn't even give us the tiniest of breaks on the rate when we requested compensation.

I guess $500 bucks was more important to them than my future business or having me trash them to anyone and everyone I know who is buying and/or selling. We ended up using a new realtor and different company for buying our new place.

My point? I don't think you're going to get a break---especially with this new $15,000 tax credit looking like a done deal.

**erikbj** · 02-12-2009, 07:34 AM

Cedar Rapids, Des Moines, Waterloo, Cedar Falls And Iowa City For Sale By Owner, Cedar Rapids Des Moines & Iowa City FSBO; IAHomesForSale.com

Couple people in my office used this and sold there house right away. It is a great deal if you can get it sold using this. I heard if you are in the DM area they are doing free listings as they are expanding from eastern Iowa to central Iowa.

**brianhos** · 02-12-2009, 07:36 AM

Originally Posted by dosry5

We sold our home in October. Our realtor screwed up, cost us money, and in then end we almost lost the buyer. We ended up using the officer manager in our realtor's office to close the deal. They wouldn't even give us the tiniest of breaks on the rate when we requested compensation.

I guess $500 bucks was more important to them than my future business or having me trash them to anyone and everyone I know who is buying and/or selling. We ended up using a new realtor and different company for buying our new place.

My point? I don't think you're going to get a break---especially with this new $15,000 tax credit looking like a done deal.

I think that tax credit got pulled.

**Wesley** · 02-12-2009, 07:41 AM

Originally Posted by dosry5

We sold our home in October. Our realtor screwed up, cost us money, and in then end we almost lost the buyer. We ended up using the officer manager in our realtor's office to close the deal. They wouldn't even give us the tiniest of breaks on the rate when we requested compensation.

I guess $500 bucks was more important to them than my future business or having me trash them to anyone and everyone I know who is buying and/or selling. We ended up using a new realtor and different company for buying our new place.

My point? I don't think you're going to get a break---especially with this new $15,000 tax credit looking like a done deal.

Sorry, Nancy pelosi juist took away the $15k tax credit and reduced tax break doiwn to $800. Good old Nancy Pathetic.

**dmclone** · 02-12-2009, 07:44 AM

I think it's actually $8,000 not $800

**erikbj** · 02-12-2009, 07:46 AM

Originally Posted by Wesley

Sorry, Nancy pelosi juist took away the $15k tax credit and reduced tax break doiwn to $800. Good old Nancy Pathetic.

I thought it was only for brand new home purchases, so it was not going to help many people out anyways.

**dosry5** · 02-12-2009, 08:08 AM

Developments : Proposed $15,000 Tax Credit Likely to Shrink

This is a Wall Street Journal blog on how that tax credit is shaping up (or down, as it seems)

**cytech** · 02-12-2009, 08:17 AM

Honestly it looks to me like they are trying to improve it. I am not sure about you but I would rather have a $7500 grant than a 15,000 0% intrest loan.

**dosry5** · 02-12-2009, 08:21 AM

Originally Posted by cytech

Honestly it looks to me like they are trying to improve it. I am not sure about you but I would rather have a $7500 grant than a 15,000 0% intrest loan.

The $15G wasn't a loan at all--under the original plan it was a tax credit and non-refundable. You didn't pay it back, but could only take the credit to extent that you owed federal taxes. It was a good thing, I would have used on the house I'm building...but I really don't think it would have spurred people to buy.

**jt tailgater** · 02-12-2009, 01:23 PM

any other commission stories or is 6% about it?

**JRCampy** · 02-12-2009, 01:30 PM

My wife and I are trying to sell our house right now, Iowa Realty is still asking 7%, at least they were 2 months ago when we put our house on the market.

**drmwevr08** · 02-12-2009, 01:34 PM

Originally Posted by JRCampy

My wife and I are trying to sell our house right now, Iowa Realty is still asking 7%, at least they were 2 months ago when we put our house on the market.

Asking is the key. Sign the agreement and write in 6 over the 7. If a realtor doesnt want your business at that point, you didnt want them anyway. And don't buy any of the BS arguments about why you should pay 7 rather than less either. They have them all ready just in case but when it comes down to it, its still good money and if they have a chance to sell your place, they will - for 5, 6 or 7%.

**wartknight** · 02-12-2009, 02:05 PM

Our realtor cut ours down to 4 or even 3 so we would lower the price on our townhouse. The issue came up though when other realtors would show the place then we would have to have it at 6.