Anonymous wrote:

Anonymous wrote:

Anonymous wrote:In NoVA, not MD, but our very aggressive agent is putting down 2.5% buyer agent commission paid by sellers on offers.

Same - 2.5% seems to be the norm for nova for a full-service buyers agent - we had some agents offer to do it for 2% but they made it clear they wouldn't do much except communicate the offer.

Anecdotally we are seeing that a majority of the houses sitting on the market in close-in nova (~$1M) - if otherwise priced decently - are sitting because the seller isn't covering the buyer's agent commission and won't adjust the price to reflect the buyer having to pay the commission out of pocket.

This is an agent posting fake news. You can tell by the "we are seeing..."

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Anyone use a flat fee for selling?

For argument sakes, a 1.5 mil property in great condition in a desirable location will sell easily these days. Assuming the seller will list at a reasonable price based on comps and sellers agent agrees with listing price, how many hours of work are we talking about for the sellers agent? 10-20 hrs?

Let’s be generous and say it’s 40 hours of work and give a rate of $150/hr. That’s $6000 or a commission of 0.4%.

Negotiate hard people. It’s your $$$ to throw away, or not…

Houses sell themselves until they don’t. For any number of reasons.

Wow what incredible wisdom from a REALTOR (C). That's the kind of stuff you definitely pay extra for.

You are so tiresome with your retort that anyone who says anything you don’t agree with is a real estate agent. (What is the “C” supossed to denote?!?) Even after I called you out for this behavior earlier in this thread and told you I have nothing to do with the industry. When you say things like this, you are a joke.

There are many reasons why a house might be hard to sell but they usually involve incurable defects like location (say, across from an open air drug market or a cemetery or on a highway), archaic floor plan that would cost a fortune to renovate, someone was murdered in the house, etc. And of course, demand drops for housing in general, which hasn’t happened in a generation but has happened historically.

Anonymous wrote:I tried offering 2% when I sold and my house sat in a hot neighborhood - pretty sure the local realtors were blacklisting it. Was told by my realtor that I needed to go up to at least 2.5% because 2% simply wasn’t done in the neighborhood. I did and sold within a few weeks, although the buyers agent complained that I wasn’t offering 3%!

Another house in the neighborhood being sold by a discount agent also took much longer than normal to sell and ultimately the buyer was represented by another discount agent. I had been by a top selling agent whom I had interviewed but didn’t hire that she would steer buyers away from discount agents because they and their sellers were “difficult.”

Sample size of 2, but I would be careful out there. I think it’s disgusting, but seems the reality right now, at least certain places.

Anonymous wrote:I'm the PP who mentioned some houses are sitting that aren't covering buyer commission at/under $1M list price in close-in nova. I'm not a realtor (lobbyist, so pretty far from a realtor lol) - but am in the market looking to buy a SFH in Arlington right now.

We know the seller not covering the buyer agent commission is why certain houses are sitting because the listing agent is literally telling our agent that directly when our agent calls them to inquire on the property. Not sure if the sellers agent should be doing that (I would assume not??) but they are - I think we've had 5 listing agents so far say the seller will not cover the buyer agent commission and will not take an offer below list that reflects the buyer having to pay the buyer agent %.

But like I said in my original post it's anecdotal and based on my experience - didn't mean to trigger this thread!!

Anonymous wrote:

Anonymous wrote:In NoVA, not MD, but our very aggressive agent is putting down 2.5% buyer agent commission paid by sellers on offers.

Same - 2.5% seems to be the norm for nova for a full-service buyers agent - we had some agents offer to do it for 2% but they made it clear they wouldn't do much except communicate the offer.

Anecdotally we are seeing that a majority of the houses sitting on the market in close-in nova (~$1M) - if otherwise priced decently - are sitting because the seller isn't covering the buyer's agent commission and won't adjust the price to reflect the buyer having to pay the commission out of pocket.

Anonymous wrote:I'm a buyer and a realtor is asking for 3% commission, negotiated with the seller but it's my job to pay her the difference if the seller doesn't agree.

How are other people handling this? For a $2M home, $30K feels awfully rich for opening a few doors. There's no world where I'm going to pay a realtor 10x more money than I earn per hour.

Anonymous wrote:

Anonymous wrote:We plan to list our $1.5m home next month. Offering 1.75% to lifting agent and ZERO to buyers. We are in desirable neighborhood and home expected to sell over $1.5m. We will look at all offers and may kick back a few crumbs to the buyers agent, but we are talking something like $5k, not anything like 1%. If the buyer wants our home they can pay their damn agent. Not our problem - ah… that the whole point of the judgement?

Good luck with that. It will be interesting to see how it works out for you.

Anonymous wrote:We plan to list our $1.5m home next month. Offering 1.75% to lifting agent and ZERO to buyers. We are in desirable neighborhood and home expected to sell over $1.5m. We will look at all offers and may kick back a few crumbs to the buyers agent, but we are talking something like $5k, not anything like 1%. If the buyer wants our home they can pay their damn agent. Not our problem - ah… that the whole point of the judgement?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Anyone use a flat fee for selling?

For argument sakes, a 1.5 mil property in great condition in a desirable location will sell easily these days. Assuming the seller will list at a reasonable price based on comps and sellers agent agrees with listing price, how many hours of work are we talking about for the sellers agent? 10-20 hrs?

Let’s be generous and say it’s 40 hours of work and give a rate of $150/hr. That’s $6000 or a commission of 0.4%.

Negotiate hard people. It’s your $$$ to throw away, or not…

Houses sell themselves until they don’t. For any number of reasons.

Wow what incredible wisdom from a REALTOR (C). That's the kind of stuff you definitely pay extra for.

Anonymous wrote:

Anonymous wrote:Anyone use a flat fee for selling?

For argument sakes, a 1.5 mil property in great condition in a desirable location will sell easily these days. Assuming the seller will list at a reasonable price based on comps and sellers agent agrees with listing price, how many hours of work are we talking about for the sellers agent? 10-20 hrs?

Let’s be generous and say it’s 40 hours of work and give a rate of $150/hr. That’s $6000 or a commission of 0.4%.

Negotiate hard people. It’s your $$$ to throw away, or not…

Houses sell themselves until they don’t. For any number of reasons.

Anonymous wrote:

Anonymous wrote:Anyone use a flat fee for selling?

For argument sakes, a 1.5 mil property in great condition in a desirable location will sell easily these days. Assuming the seller will list at a reasonable price based on comps and sellers agent agrees with listing price, how many hours of work are we talking about for the sellers agent? 10-20 hrs?

Let’s be generous and say it’s 40 hours of work and give a rate of $150/hr. That’s $6000 or a commission of 0.4%.

Negotiate hard people. It’s your $$$ to throw away, or not…

best advice. The RE community are parasites. It's the market that really determines your net gain/loss. Don't lock in an entitled comission to the buyer - assuming you are selling. If your property is desirable, you will get more....the eventual buyer will be forced to pay their agent the fees - NOT YOU. This is the entire point of the recent judgement. Don't, never specify any comission to the buyers agent.