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Originally Posted by ...Whitepower...
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 bite quickly (1 week max) then we will go ahead and list it.
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As Harry posted...you may want to give any qualified prospects more than a week...but after 30 days, you'll know their serious interest...or not.
If you have the time and ambition...do a little marketing, like sent all those prospects a post card announcing a public open house...create some urgency.
Quote:
Originally Posted by ...Whitepower...
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.
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Nice of you to remain loyal to the agent who you have done business with in the past. If you secure the buyer...a couple percent is fair for your agent to get the buyer under contract & walk the thing through to closing.
Contrary to Harry's post...you do not need an attorney to handle the transaction...as almost all escrow/title companies have an attorney or 2 on staff...and the title company is who prepares the documents to close. But if you want to pay your real estate agent buddy...and an attorney...and the title company...Hey, it's your money.
Some have had bad experiences with Realtors, so they feel more comfortable with an attorney walking them through...
And, some have had bad experiences with attorneys...or mechanics...or housekeepers...or window washers...or...
Quote:
Originally Posted by ...Whitepower...
What do you think a fair "under the table" fee would be?
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There may be fair...but there is no legal "under the table" fees/commissions paid to an agent. Never.
An agent is paid from his broker...if he is a broker, he will pay himself as an associate broker through his brokerage company.
An agent never gets paid directly for real estate services.