Comments 1 - 12 of 12 Search these comments
Home prices could be lowered a few points if the sale price didn't have to be padded to cover all the commissions.
Sniper saysHome prices could be lowered a few points if the sale price didn't have to be padded to cover all the commissions.
This doesn’t actually work.
I heard a commercial in the radio about a new online listing site that does all the marketing and pays for inspections and commission is only 0.5 % of the unit's sales price.
So are you saying no one figures in the commission amount they will pay when deciding on the actual listing price?
Sniper saysSo are you saying no one figures in the commission amount they will pay when deciding on the actual listing price?
What buyer is going to give you list price plus commission? It’ll sell at its fair market price, not that plus another $20-30k in commission.
If the house appraises for $350,000 you can’t tack on another 6% to pay the realtors. That would mean the buyer would have to come up with more down payment to get financed at their expected rate.
However, despite trying, I was never able to sell a home without listing as it seems everyone who is serious about buying a home reflexively calls a realtor. I was able to get the commission down to 4.5%, though (1.5% to listing agent, but a full 3% to buyer's agent so buyer's agents would actually bring people).
https://www.washingtonpost.com/news/where-we-live/wp/2018/04/12/new-d-c-area-real-estate-firm-offers-a-twist-to-sellers-theyll-get-a-commission-rather-than-pay-one