REVscene - Vancouver Automotive Forum

Nssan · 09-30-2009, 10:58 AM

Hello Realtors

I have some questions regarding purchasing and selling of property.

Average commission rate on selling a home ? pm is okay

If I were to purchase a place, is it worth wild to hire a realtor? How would the fees work?

Thanks

6793026 · 09-30-2009, 02:06 PM

you really need to read up a bit.
1) realtors can be expensive. they have a set structure. Just ask around, I dont' have the numbers with me
2) a GOOD buyer / Seller will respect the realtor and pay accordingly. they are trying to make a living driving you around to look at places or advertizing for you, it works both ways.

I'll give you the Pros.

- They know their shit.
the house has cracks, faulty walls etc. Sometimes a realtor will straight out tell you the house you want is shit and refer you to a new one OR tell you the house was a previous grow OP or previous owner had a pet and the carpet is shit or the tenant was crap. all in all, saves you time.

- hidden FYI

if you buy a townhouse / apartment and wonder why property mgmt fees will go up in 2 months, or they purpose pipes needs fixing? well, Agents will read the minutes they get and tell you, Hey, they plan to put in pipes which will cost owners 4000 next yr, or there's a lot of theft in this area. etc.

-You find out 2 months later you aren't allow to rent, well, it says stata limitations = you have to get in line until you get your turn. notified, eg// no rentals, no pets, no bbq on deck. it's what you pay the realtor for, their value add, the schools here suck etc....

-inside scoop.
how do people get an offer in when the property JUST showed up, well, they have access and it shows it was JUST listed, if you have a good relator, he'll tell you, You NEED to check this out asap.
trust me, 2 of my properties I was the first one to look at the place and made an offer way before it was online to the public.

Sellers
-paid advertizing.
it works much better than putting a for sales sign.

-market price. your house is worth 500k, there's no point putting it up at 600K, it simply wont' sell.
LISTEN to the relator, you can put your apartment at 480k BUT you can have like 15 offers people bidding over your hot apartment and end up selling at 520K.

Just cause you list it at 550 doesn't mean you will get 550k. 9 / 10 people put up 550 and then puts it down to 520k later.

- listen to your relator and ask for honest advice.
Hm, why do i only have 2 people looking? well, maybe you have pets in your house, you have crappy carpets? or your daughter's room smells like BC bud.
LISTEN to what htey have to say

Nssan · 10-01-2009, 08:48 AM

Thank you

I need to sell my apartment before I can buy something else.

However, I do want to try and sell it private first.

So, can I just ask a realtor to help me buy a place? or they will insist that I hire him/her to help me sell my place first and use him/her again to buy a place?

saucywoman · 10-01-2009, 10:52 AM

k sorry to jack thread but when looking to buy a property approx roughly how much do realtors cost? tia

Bonka · 10-01-2009, 12:27 PM

Quote:

Originally Posted by saucywoman

k sorry to jack thread but when looking to buy a property approx roughly how much do realtors cost? tia

A Buyer's agent generally gets compensated by the commission split payable with the listing (selling) agent, paid out by the Seller. Usually 3.22% 1st $100k/1.15% on balance.

saucywoman · 10-01-2009, 07:46 PM

Quote:

Originally Posted by Bonka

A Buyer's agent generally gets compensated by the commission split payable with the listing (selling) agent, paid out by the Seller. Usually 3.22% 1st $100k/1.15% on balance.

okay sweet, so if I pick a real estate agent to find me a place I don't have to pay; they will receive money from the sale price.

thanks

Bonka · 10-01-2009, 08:51 PM

A good agent should outline their remuneration at the forefront so there are no surprises since there are several ways for them to get compensated. I would ask about it upfront in detail if they don't say anything about it.

Nssan · 10-14-2009, 07:51 AM

Question:

Do buyers usually have agent representing themselves?

If yes,

If I was to offer those agents 1% commission on sold price to bring qualified buyers, will that be attractive enough?

This is a for sale by owner.

quasi · 10-16-2009, 08:17 AM

Quote:

Originally Posted by Nssan

Question:

Do buyers usually have agent representing themselves?

If yes,

If I was to offer those agents 1% commission on sold price to bring qualified buyers, will that be attractive enough?

This is a for sale by owner.

I highly doubt it. Agents aren't going to spend time showing people your place at a reduced commission when they could show a similar place in the same building or down the road and get a full commission. I'd guess the opposite, they'll probably go out of their way to make sure their clients don't view your place. I'm so anti salesmen it isn't even funny but the odds of you selling your place without an agent are not very good.

When I sold my last place I was given 3 different options on commission that went up in percentages. The differences in commission allotted more money for the buying agent. When you offer a higher commission the other agents would go out of their way to show your place first because if their client bought it they'd make more money which makes sense. At the end of the day the most money possible in the agents pocket is their bottom line and all they really care about.

Goodluck with your sale, hope it works for out.