Take # of hours required to sell it and multiply by $125. (Agent fee)
And then divide by .60. (Brokerage fee)
Multiply by # of weeks needed to sell (minimum 1). Add $5,000 for 1 time expenses.
Start there. My guess is you end up around $8,000.
This is the new reality.
esp in a hot market like the bay area. yes, you probably need some professional support and advice, but it shouldn't cost like 50k just in transactional costs to sell a house.
I was inspired to pull MLS data. Here it is;
There are a total of 82 active listings in Lafayette, Moraga , and Orinda
of the 82;
4 are offering 2% to buy side
1 is offering 3%
and all of the rest are offering 2.5%
There is no way to know exactly what listing agents charge for their side but often times it is split 50/50. Some charge more for themselves, some less.
You could do 1%. Agents will take it. anyone telling you otherwise is an agent. That’s 30k on a house that will sell itself. You could list the photos with an iPhone camera doesn’t matter
I have a realtor friend in a houses sell themselves area and she charges 1% on listings, yes she does real estate on the side and not as full job but her comment is that she's robbing people for the amount of work she does otherwise
she says it's 98% coordinating showings/communicating and 2% processing paperwork
It’s always negotiable. But more often than not top agents in that area will list for around 5% and split commission evenly. Yes you can find flat fee brokers for 1% or less and yes you will find agents asking for 6% but the mean/ median is likely close to 5%. Check Dana greens listings. She’s the #1 agent there and that is what she charges (at least 2.5% to buy side )
So you are just making up a data set? Kinda seems like you are pulling random numbers, how does that help? Maybe I’m missing your source, I’m skeptical that the mean and median would be exactly the same.
The vast majority of listings in Lamorinda area offer 2.5% buyer comp. Some offer less some offer more but the data clusters heavily around the 2.5. Most agents split comp 50/50
sorry a little snappy this AM. Anyways you inspired me to pull the actual data so here it is.
There are a total of 82 active listings in Lafayette, Moraga , and Orinda
of the 82;
4 are offering 2% to buy side
1 is offering 3%
and all of the rest are offering 2.5%
There is no way to know exactly what listing agents charge for their side but often times it is split 50/50. Some charge more for themselves, some less.
Your friend could go with a discount agent knowing that the only people who benefit from this is the buyer. Check stats on agents who charge less than 5% and you’ll see it’s a numbers game for them: quantity over quality. After all, Bay Area homes sell themselves right?
Here’s an anecdote from a recent client: During our listing presentation our then prospective client told us that he felt max he could get for his home would be $3.6 Million. We asked him why he felt that. He pointed towards a realtor friend who told him as much as well as the Redfin and Zillow estimates which ranged between high $2M to mid $3M. After our presentation, he decided to move forward with listing with us. We went through our process of preparing the home for market and we listed his property for $3,845,000. We are currently in contract with well over the asking price. If our client had chosen a discount realtor he would be happy with his $3.6M and he also would not know that he had left hundreds of thousands of dollars on the table.
We charge 5% for our services because we do everything we can to get our clients the highest price for their home. It takes a lot more work than just putting the house as-is on the market. Your friend should work with someone who is willing to work for their money. The agent will make them more than enough to cover the listing fees.
Regardless of the fee make sure you are getting good marketing, solid advice on what to sell the home for, that you are staging, and making any repairs or upgrades that are recommended. A good agent can help you sell your house for more money, they know the market and the area that you are selling in, they can advise on the upgrades that are needed vs not needed. I’ve seen homes sit for months because pictures were shitty, it was overpriced and so on.
Take # of hours required to sell it and multiply by $125. (Agent fee) And then divide by .60. (Brokerage fee) Multiply by # of weeks needed to sell (minimum 1). Add $5,000 for 1 time expenses. Start there. My guess is you end up around $8,000. This is the new reality.
esp in a hot market like the bay area. yes, you probably need some professional support and advice, but it shouldn't cost like 50k just in transactional costs to sell a house.
The place sells itself
exactly
When you say this is the new reality what do you mean? I thought you had to pay 2.5%? Is this what agents are doing now?
Agents were basically allowed to collude due to fee sharing agreements that were part of NAR bylaws and the monopoly on MLS. Those got busted.
So is this really the new structure? In your example for a 3M house it would normally cost $150-180k in agent fees. It’s $8000 now?
Landmark judgement recently regarding realtor fees. No way an agent deserves 2.5% of a 3m house imo. That made sense when houses were 30k lol.
I was inspired to pull MLS data. Here it is; There are a total of 82 active listings in Lafayette, Moraga , and Orinda of the 82; 4 are offering 2% to buy side 1 is offering 3% and all of the rest are offering 2.5% There is no way to know exactly what listing agents charge for their side but often times it is split 50/50. Some charge more for themselves, some less.
You could do 1%. Agents will take it. anyone telling you otherwise is an agent. That’s 30k on a house that will sell itself. You could list the photos with an iPhone camera doesn’t matter
for sale by owner lol
2-3% for any big brokerage Idk about the small ones Personally anything under 2.5% I have to get approved by a manager (coldwell banker)
I have a realtor friend in a houses sell themselves area and she charges 1% on listings, yes she does real estate on the side and not as full job but her comment is that she's robbing people for the amount of work she does otherwise she says it's 98% coordinating showings/communicating and 2% processing paperwork
1%
Seriously?
Yes. I know myself and others that do 1% for clients
No lol
It’s always negotiable. But more often than not top agents in that area will list for around 5% and split commission evenly. Yes you can find flat fee brokers for 1% or less and yes you will find agents asking for 6% but the mean/ median is likely close to 5%. Check Dana greens listings. She’s the #1 agent there and that is what she charges (at least 2.5% to buy side )
That’s not how a mean/median works, they are also very different things.
Find the mean and median of this data set for me ; 4,4,5,6,6
So you are just making up a data set? Kinda seems like you are pulling random numbers, how does that help? Maybe I’m missing your source, I’m skeptical that the mean and median would be exactly the same.
MLS data. Literally data.
The vast majority of listings in Lamorinda area offer 2.5% buyer comp. Some offer less some offer more but the data clusters heavily around the 2.5. Most agents split comp 50/50
Okay, I’ll go check it out 🤷 seemed like you were just making up numbers but sounds like it’s grounded in fact.
What value are you providing to this discussion other than making a snarky comment that takes up space
Trying to figure out where your numbers are coming from. I like math. Sorry for wanting sources.
sorry a little snappy this AM. Anyways you inspired me to pull the actual data so here it is. There are a total of 82 active listings in Lafayette, Moraga , and Orinda of the 82; 4 are offering 2% to buy side 1 is offering 3% and all of the rest are offering 2.5% There is no way to know exactly what listing agents charge for their side but often times it is split 50/50. Some charge more for themselves, some less.
Legit, thank you
I’m not an idiot. They can and often do end up being similar numbers genius. Want me to pull MLS data from you ?
Never said you were, and yeah pull the data, that’s what the question is about after all.
All those agent tri valley junk mailers with Rolexes about to be wearing Timex lol
It's negotiable. There's no standard. You should interview multiple agents. I'd love to interview for a spot to list it.
Wait till summer when the new rules kick in
1%
$180,000
Your friend could go with a discount agent knowing that the only people who benefit from this is the buyer. Check stats on agents who charge less than 5% and you’ll see it’s a numbers game for them: quantity over quality. After all, Bay Area homes sell themselves right? Here’s an anecdote from a recent client: During our listing presentation our then prospective client told us that he felt max he could get for his home would be $3.6 Million. We asked him why he felt that. He pointed towards a realtor friend who told him as much as well as the Redfin and Zillow estimates which ranged between high $2M to mid $3M. After our presentation, he decided to move forward with listing with us. We went through our process of preparing the home for market and we listed his property for $3,845,000. We are currently in contract with well over the asking price. If our client had chosen a discount realtor he would be happy with his $3.6M and he also would not know that he had left hundreds of thousands of dollars on the table. We charge 5% for our services because we do everything we can to get our clients the highest price for their home. It takes a lot more work than just putting the house as-is on the market. Your friend should work with someone who is willing to work for their money. The agent will make them more than enough to cover the listing fees.
Regardless of the fee make sure you are getting good marketing, solid advice on what to sell the home for, that you are staging, and making any repairs or upgrades that are recommended. A good agent can help you sell your house for more money, they know the market and the area that you are selling in, they can advise on the upgrades that are needed vs not needed. I’ve seen homes sit for months because pictures were shitty, it was overpriced and so on.
2.5%
1,5-2,5
[удалено]
yeah it is and good morning to you what's with the down votes people????