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6% is a lot on a $1m. But, it is better than 33.33% on a quick $1m settlement.
Commissions are more negotiable than ever. But like everything else a minimal commission is going to.lead to minimal service
Eh try doing it once and then see how it goes. I know a lot in the space and it takes more work than many think. The good ones are worth it. Same argument could be made for things attorneys do that many people see as they could’ve done themselves.
I've done it and there is way more to it than people know. Its a lot of work.
Realtors are a total waste. The title company does all the work. All the agent does is get you access to see the house. They also fill in the blanks to a contract. In my current house, the agent for the seller was being a hinderance to the sale so I went and knocked on the door of the seller and he and I negotiated the price together. BAM sale done. Why pay a commission?
Pro
This is your experience, not everyone's. You clearly hired a terrible realtor. Good realtors are capable of much more and also the title companies' job is completely different and separate from the realtors' job.
I say the same thing. There effort is the same regardless of purchase price and most disappear after getting it under contract then show up at the end to make sure the commission is right. Sincerely a real estate attorney who does more work than the agents.
I assume your work doesn’t come in using proper grammar.
Pro
Apparently, none of yall have ever been under contract and wished you could get out of the contract but didn't put any mechanisms into the contract to get out. I've had many a home brewed contract come through my door needing guidance. Just an example, I can almost promise most of you don't know how to create an am table and complete the financing contingency part of the contract. I once had someone buying a house with financing, and he didn't even put a financing contingency in the contract. You know what that means, if your financing falls through, you still have to buy the property. Good luck with that one.
Pro
As an attorney who does residential transactions, agents play a valuable role for both buyers and sellers. But the commissions can be ridiculous. And half of the commission goes right to the broker dealer. The way the commission works doesn't even make sense. Buyers agents make the same whether they take their buyer to one open house and write one offer as a buyer that goes to 40 open houses and writes 40 offers.
It's not mandatory to get a realtor. It is doable on your own especially with the current market and as a legal professional.
Yes it does.
I did sell by owner.
They couldn't even force me to pay part of the feed via the practice of seller assist, since the legal requirements and procedures changed in the last year. Good luck
I haven't seen a RE agent take 6% in quite a long time - most take 3%, while the other side's agent gets 2-3% (so 6%, but in total, not to one agent). And if you didn't know you could negotiate that down, then....well, that's on you.
It’s a family member. So awkward convo
You're not the only one. Put ads out on Zillow, Craigslist, Redfin, anywhere you can put a cheap or free ad. When you do find a buyer, take them to the title company and they will do all the paperwork for under $500. That's a lot of money to give someone to put your house up on MLS.