Housing market

[KnappShack]

Final score

1521 61st St, Des Moines, IA 50311 | Zillow

1521 61st St, Des Moines IA, is a Single Family home that contains 864 sq ft and was built in 1950.It contains 3 bedrooms and 1 bathroom.This home last sold for $207,000 in October 2023. The Zestimate for this Single Family is $220,400, which has increased by $87 in the last 30 days.The Rent...

www.zillow.com

 

[FallOf81]

https://www.cnn.com/2023/11/05/homes/nar-verdict-real-estate-commission-fee/index.html

 

[legi]

https://www.cnn.com/2023/11/05/homes/nar-verdict-real-estate-commission-fee/index.html

I just wish realtors would stop the BS practice of charging the same % commission regardless of if they sell a $100K house or $500K house while basically doing the same amount of work.

 

[KnappShack]

I just wish realtors would stop the BS practice of charging the same % commission regardless of if they sell a $100K house or $500K house while basically doing the same amount of work.

Charge more for the lower priced home?

 

[legi]

Charge more for the lower priced home?

I am saying charge a flat fee of maybe $5K-$10K as long as the work is comparable regardless of if the house is $100K or $500K.

 

[Dr.bannedman]

I am saying charge a flat fee of maybe $5K-$10K as long as the work is comparable regardless of if the house is $100K or $500K.

didnt mark charter start this 5 years ago?

havent heard much about him since

 

[Pat]

didnt mark charter start this 5 years ago?

havent heard much about him since

Yes, and they appear to have recently abandoned it, unfortunately.

 

[simply1]

I am saying charge a flat fee of maybe $5K-$10K as long as the work is comparable regardless of if the house is $100K or $500K.

Been around a long time, not very popular for whatever reason.

 

[BCClone]

I just wish realtors would stop the BS practice of charging the same % commission regardless of if they sell a $100K house or $500K house while basically doing the same amount of work.

Well, negotiate with them. You can do that.

 

[BCClone]

didnt mark charter start this 5 years ago?

havent heard much about him since

2500 to list and 3% to sell IIRC.

 

[KnappShack]

Well, negotiate with them. You can do that.

Especially in a market with low sales volume.

Is it mandatory to use an agent?

 

[BCClone]

Especially in a market with low sales volume.

Is it mandatory to use an agent?

You can sell it yourself

 

[KnappShack]

You can sell it yourself

Whoa! Then people don't have to pay for the service, but are still not happy when they choose to use the service?

Sounds about right.

 

[BCClone]

Whoa! Then people don't have to pay for the service, but are still not happy when they choose to use the service?

Sounds about right.

Some people think if a buyer uses an agent and buys a private house that the seller has to pay the agent. Nope. Only if the seller agrees to it.

 

[legi]

Well, negotiate with them. You can do that.

I just feel it’s dishonest to ask for different amount of money for the same amount of work just because of the house value.

Most buyers just take it cause they don’t know any better and it feels like realtors know this and wouldn’t even bother negotiating it cause there is plenty sheep around.

 

[BCClone]

I just feel it’s dishonest to ask for different amount of money for the same amount of work just because of the house value.

Most buyers just take it cause they don’t know any better and it feels like realtors know this and wouldn’t even bother negotiating it cause there is plenty sheep around.

It happens more than people know. Tell the agent you are shopping for one and looking for X percentage. Or tell them you will give an exclusive listing for 4.5 instead of 6 percent. Most agents push their own stuff heavier than others.

 

[legi]

It happens more than people know. Tell the agent you are shopping for one and looking for X percentage. Or tell them you will give an exclusive listing for 4.5 instead of 6 percent. Most agents push their own stuff heavier than others.

What would you consider a reasonable amount to pay realtor to sell any house valued $100K-$500K?

 

[BCClone]

What would you consider a reasonable amount to pay realtor to sell any house valued $100K-$500K?

6% for 100k. 5% at 200k. 4% for 400k get to 750-1MM (somewhere in there) you should be 3%. That’s my thoughts of where they should be. I know some realtors do agree to cuts at certain levels.

Now if they stage the house and do other stuff, maybe a little more.

I’m now kinda screwed because one of my wife’s best friends is a realtor so I’m tied to her and can’t really budge her much since she knows I can’t go elsewhere since a divorce would cost me more.

 

[KnappShack]

6% for 100k. 5% at 200k. 4% for 400k get to 750-1MM (somewhere in there) you should be 3%. That’s my thoughts of where they should be. I know some realtors do agree to cuts at certain levels.

Now if they stage the house and do other stuff, maybe a little more.

I’m now kinda screwed because one of my wife’s best friends is a realtor so I’m tied to her and can’t really budge her much since she knows I can’t go elsewhere since a divorce would cost me more.

The best friends are the ones who hold you over a barrel during business transactions

 

[BCClone]

The best friends are the ones who hold you over a barrel during business transactions

My friends and I don’t really do business with each other so no one feels obligated or think they are getting hosed. My wife’s family/friends are the opposite.