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Old 07-11-2019, 07:31 AM   #1
stinkbelly
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Default Real estate fees to sell

What is an average amount of fees paid to the real estate agent to list and sell your place?

What is the average length of contract you sign with an agent to list your place?
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Old 07-11-2019, 07:34 AM   #2
daniel044
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Just sold my house. Paid 3% of home selling price to buyers agent and my good friend is a agent so he sold the house for no commission. He will make his commission when I buy my new house from the seller.

Not sure on length of time as my house sold in 8 days. I would give it awhile though if I was you. You may be surprised how fast your property goes with interest rates being very low right now. People are buying right now.
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Old 07-11-2019, 07:47 AM   #3
sectxag06
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Quote:
Originally Posted by stinkbelly View Post
What is an average amount of fees paid to the real estate agent to list and sell your place?

What is the average length of contract you sign with an agent to list your place?
the historic norm is 6%. 3 to buyers agent and 3 to sellers agent. however, things are changing rapidly. there are more and more flat fee listing services these days. most likely still going to pay 3% for buyer's agent, but significantly less on the sales side. if you are in a hot area and know the price per sq foot, then a flat fee listing can be very advantageous. or if you are in a very high dollar home, it is normal to negotiate down. but, if you don't have a good feel for the market or the area is a bit wish washy on what sells and what doesn't, then a good full service sellers agent is worth it.
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Old 07-11-2019, 08:51 AM   #4
waffles
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I sold me house 2 years ago, listed it myself on zillow for free, the buyers had a realtor that wanted6%, I refused and negotiated it to 3%

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Old 07-11-2019, 09:10 AM   #5
Preacher Man
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3% to each has been the norm. A good buddy of mines wife listed our house and charged me 1% when I sold because she knew Id use her on the buying side when I bought. She made 3% on the buyer side.

Were good friends and she refused to have me sign a contract even though I offered to.

As hot as real estate is right now, you wont need to sign an exclusivity agreement and could likely get the same deal I had.
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Old 07-11-2019, 09:23 AM   #6
captainsling
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Buyers agent generally gets 3% and sellers agent gets 3%. It's all negotiable. When we sold our last house, we used our builder and he didn't charge us anything to sell our old house because he was building our new house for us. Our previous house before that, our realtor gave up their 3% because of the commission on the house we bought from that sale.
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Old 07-11-2019, 09:42 AM   #7
hooligan
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We just sold our house and it was 3 and 3% commission. All said and done with the other fees and crap involved it was a little over 7% total

We made sure to have an at will contract with our agent, if you’re working and doing your job I have no reason to leave but I’m not locking myself into a 3-4mo contract Incase they suck as an agent. Our guy was good and got our house sold in 42 days which we were happy with since we priced high for the first couple weeks. They’re based in burleson and cover your area, pm me if you want his info, good team to work with
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Old 07-11-2019, 09:47 AM   #8
TX_Hoghunter
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I paid 3% but my agent was also their agent.

-john
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Old 07-11-2019, 12:04 PM   #9
stinkbelly
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3% to each is crazy on high priced property. There should be a max. Maybe a flat fee is better for the seller.
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Old 07-11-2019, 01:46 PM   #10
wes122984
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add an additional 1-2% in seller cost.
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Old 07-11-2019, 01:55 PM   #11
skinsfan
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Just finished, 3 to sellers agent and 3 to buyers, all together cost us 8.7% to sell. We signed a 6 month contract, I’m sure every situation is different, I was a little frustrated with the costs associated with selling. Good luck!!!
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Old 07-11-2019, 02:25 PM   #12
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I would look into Redfin. They charge 1% on most sales and you have a full service agent.
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Old 07-11-2019, 02:34 PM   #13
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Quote:
Originally Posted by stinkbelly View Post
3% to each is crazy on high priced property. There should be a max. Maybe a flat fee is better for the seller.
Sometimes yes, sometimes no.

Keep in mind that the broker usually takes half, so that 3% is really less than 1.5% after the extra fees.
My wife showed one couple 80+ houses before they bought a $150,000 house.
Would you spend that much time, and gas money for roughly $2,000?

I do know some realtors aren't worth a crap, but my wife works her tail off to make sure you get the house you need/want at the right price. She goes out of her way to do stuff that I don't see many other realtors (in her office) doing. When all is said and done, she doesn't make that much money.
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Old 07-11-2019, 02:34 PM   #14
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3% to each is crazy on high priced property. There should be a max. Maybe a flat fee is better for the seller.
No kidding. I sold my lakehouse last year. Listed with an agent and signed a contract for standard 6%. One week later I found a buyer through a neighbor. I paid 6% of $1.5MM or $90,000 to someone that didn't have to do much. No way that dude earned that, but he sure took it. I'd have been embarrassed.
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Old 07-11-2019, 02:37 PM   #15
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No kidding. I sold my lakehouse last year. Listed with an agent and signed a contract for standard 6%. One week later I found a buyer through a neighbor. I paid 6% of $1.5MM or $90,000 to someone that didn't have to do much. No way that dude earned that, but he sure took it. I'd have been embarrassed.
1.5 million dollar lake house = first world problems!
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Old 07-11-2019, 02:43 PM   #16
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I paid a flat fee to Creekview realty for the MLS listing, lock box and scheduling service. Sold my house in May and the offer we accepted came less than 8 hours from when the MLS went live. Had 5 offers in the first 48 hours. Paid the buyer's agent 3% which in hindsight I wish I had pushed lower (could have). The buyer bought my house sight-unseen based on a 15 minute facetime walk-thru her realtor did.

Obviously I was in a heavy seller's market, lower end of a highly desirable neighborhood and listed early May which is a great time to sell. 2nd time I used Creekview. I think my total cost with them was $500.
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Old 07-11-2019, 03:06 PM   #17
TexAg07
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My favorite part as a Real Estate agent's husband is when people we know don't use my wife because they "found the house/buyer all on their own" so think they don't need a realtor. These people then, inevitably, call and text her almost every day during the process (mostly in the evening when we are home as a family) because finding a house/buyer not equal getting a house bought/sold and there are about 1000 decisions that come before closing day that they didn't realize they were going to have to make. Buying/selling a home is a pretty big deal, so it's nice to have an expert to consult with when making those decisions. Taken me years to convince her to stop giving her expert advice to folks who thought they didn't need it or didn't value it.

Not saying any one here would do that just offering another perspective.
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Old 07-11-2019, 03:31 PM   #18
curtintex
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1.5 million dollar lake house = first world problems!
That wasn't a problem, as much as it was the culmination of a great investment crossed with a colossal headache.
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Old 07-11-2019, 04:01 PM   #19
SmTx
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Originally Posted by curtintex View Post
No kidding. I sold my lakehouse last year. Listed with an agent and signed a contract for standard 6%. One week later I found a buyer through a neighbor. I paid 6% of $1.5MM or $90,000 to someone that didn't have to do much. No way that dude earned that, but he sure took it. I'd have been embarrassed.
My realtor buddy would say he deserves it due to the amount of tire kickers and window shoppers he has to deal with without being paid.

Then in the same breath tell me how he's taken to telling people unless they're pre-approved and ready to buy to keep on moving
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