ou're selling your home as brokerage firm has brought the
a FSBO (for sale by owner) buyer to the deal, the listing
and you get annoyed when broker pays the selling broker
real estate brokers call you, half or 3 percent.
right? That's a reasonable
response when you're doing all When you're successfully
the work to market your property operating as a FSBO, you're
to save thousands of dollars in getting folks to come and look at
broker commissions. However, when your house, or condo, or
a "buyer broker" calls, you might whatever, and you don't need a
want to listen. listing agent. However, what if
you've been doing this for a
Why Listen while and none of the lookers has
been converted to a buyer? What
To understand why I say that, we then?
need to understand the functions
of "listing brokers" and "buyer Well, if a broker calls you and
brokers." Real estate brokers can says he or she is working with
and do serve both functions, buyers and they'd like to be able
though some specialize. to show your home, maybe you
should consider it. They probably
Some brokers who call you are only expect about half the
interested in listing your home. typical listing commission. That
They want to market your home for still allows you to save serious
you. The amount of commission money. Perhaps you can even
charged for this service varies, negotiate down a bit from half.
but where I live, most brokers This is especially true if your
list homes for a commission of 6 home is appropriately priced
percent of the sales price. When above the average price for a
the home sells, if another home in your area. In my area
where 3 percent to a selling
broker is frequently acceptable, Don't misunderstand me. I'm not
I've seen brokers accept 2.5 or for one second suggesting that
even 2 percent. It doesn't hurt you pay more than is necessary to
to ask. sell your home. At first, take
names and phone numbers of "buyer
As a bonus in that situation, you brokers" who call you. Then, if
get someone who is knowledgeable you find you need to, call back
about the process with an the ones who impressed you.
interest in getting the deal to
settlement. True, they don't There is a middle ground between
represent you. They represent the going it alone and listing with a
buyer, but the buyer wants your broker. If you find you need to,
home and the broker wants a this middle ground can be worth
payday. In short, the buyer exploring through buyer brokers.
broker has incentive to put an
oar in when problems arise.
About the Author:
Raynor James is with http://www.fsboamerica.org - providing homes for sale by owner, "FSBO", properties. Are you thinking, "Should I sell my home?" Visit http://www.fsboamerica.org/seller.cfm to sell your home sale for free for one month.
Source: www.isnare.com
