Originally Posted by ...Whitepower... (Post 205218)

We have had alot of interest in the house while doing the renovations. Somuch so that we have started a list with people to call back when we are ready to show it. The plan is to show it to them priorto listing it and offering it at a reduced price seeing that we won't have to pay a 5-6% commission. If none of them bites quickly (1 week max) then we will go ahead and list it.

Now my agent is a good guy and I will need someone to handle the transaction for me anyway so my question is this. What would you guys offer up for his services in the event i get a buyer prior to listing it with him? I know my attorney could handle the contract negotiations on my behalf as well for a fee and I have a call in to them.

What do you think a fair "under the table" fee would be?

Originally Posted by ...Whitepower... (Post 205218)

We have had alot of interest in the house while doing the renovations. So much so that we have started a list with people to call back when we are ready to show it. The plan is to show it to them priorto listing it and offering it at a reduced price seeing that we won't have to pay a 5-6% commission. If none of them bites quickly (1 week max) then we will go ahead and list it.

Now my agent is a good guy and I will need someone to handle the transaction for me anyway so my question is this. What would you guys offer up for his services in the event i get a buyer prior to listing it with him? I know my attorney could handle the contract negotiations on my behalf as well for a fee and I have a call in to them.

What do you think a fair "under the table" fee would be?

Originally Posted by MrPeabody (Post 205229)

Every case is different, but I paid my real estate agent 3% when I gave her the listing and handed her a qualified buyer.
I'm sure the laws vary in each state, but I don't think it would be wise for a realtor to do a deal for "under the table" money.
My agent had to get the reduced commission approved by the broker she worked for, and it was put in writing that it was contingent on that particular buyer purchasing the property within a set period of time.

Originally Posted by ...Whitepower... (Post 205230)

If I do get an offer I was thinking of finding out how much my attorney would charge and offering my agent the opportunity to do it for the same money..

Originally Posted by ...Whitepower... (Post 205230)

If I do get an offer I was thinking of finding out how much my attorney would charge and offering my agent the opportunity to do it for the same money..

Originally Posted by oyealiz (Post 205238)

When I bought from an owner, there was no real estate agent involved at all. We just used a standard real estate contract for the state and took it to a closing company to handle the closing. Their attorney was the only attorney involved, too.

Originally Posted by oyealiz (Post 205238)

When I bought from an owner, there was no real estate agent involved at all. We just used a standard real estate contract for the state and took it to a closing company to handle the closing. Their attorney was the only attorney involved, too.

Every state has different rules, of course, and even different cities can vary.

Originally Posted by Petew1971 (Post 205241)

:iagree: same deal for me when I sold my house..I showed up, signed some pepers and it was over

Originally Posted by oyealiz (Post 205243)

That's the way to go! If it's a "by owner" sale, you're going to have to pay closing costs anyway. Why pay a realtor fee on top of that?

Originally Posted by Petew1971 (Post 205249)

At first I had more Realstate agents show up then interested parties..They all wanted to tell me what they could do for me.

I finally had to put " NO Realstate Agents" on the flyer just to keep them vultures away

Originally Posted by sxeC6 (Post 205261)

:iagree: They don't like it when you go around them, but you don't need an agent to sell by owner. A title company can handle the paperwork.

Originally Posted by sxeC6 (Post 205261)

:iagree: They don't like it when you go around them, but you don't need an agent to sell by owner. A title company can handle the paperwork.

Originally Posted by oyealiz (Post 205281)

I meant "title company" earlier when I said closing company. :)

If I had my home for sale by owner and a realtor actually had a client to show the home to, I'd let them, for 1/2 the full commission. I just see no reason to involve a realtor if I already had a buyer!

Originally Posted by Petew1971 (Post 205295)

I told some of the Agents that came by they could show my house, sell it, handle all the paperwork for 2% ...they werent very happy about it :lol:

Originally Posted by oyealiz (Post 205300)

Because they probably didn't have a client to show the property, they just wanted the listing.

Originally Posted by oyealiz (Post 205238)

When I bought from an owner, there was no real estate agent involved at all. We just used a standard real estate contract for the state and took it to a closing company to handle the closing. Their attorney was the only attorney involved, too.

Every state has different rules, of course, and even different cities can vary.