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  1. #1

    Default Real Estate Agent - Getting a Sweet Deal

    Hi

    A townhouse next door to mine sold last week. The townhouses are identical except mine is a mirror version.

    The agent has three potential buyers who are interested in mine and I'm happy to sell for a similar price.

    We have one evening viewing mid week. This could be a very quick and easy sale.

    What would be a fair agent fee for this engagement of service.

    I'd be interested to hear from both owners and agents.

    Thanks Fever

  2. #2
    Join Date
    Jun 2004
    Posts
    9,659

    Default

    A quick sale - how much commission?
    An interesting question!
    Would you feel better paying more if the place took a long time to sell?
    What is a quick, painless, sale worth to you?

  3. #3

    Default

    I'm not desperate to sell but it was part of my plan over the next two to three years.
    The townhouse is low maintenance with a well run body corporate.
    The commission is 2.75% + gst
    It will save me decorating/staging but its no biggie with easy access.

  4. #4
    Join Date
    Nov 2006
    Location
    Cyberspace
    Posts
    5,415

    Default

    0.5% for a three day listing.

  5. #5
    Join Date
    Jun 2004
    Posts
    9,659

    Default

    Quote Originally Posted by FeverPitch View Post
    I'm not desperate to sell but it was part of my plan over the next two to three years.
    The townhouse is low maintenance with a well run body corporate.
    The commission is 2.75% + gst
    It will save me decorating/staging but its no biggie with easy access.
    At 2.75%+ I'd take it.
    Personally I am fairly happy to pay where they have added value. Bringing the buyer to you like that adds value in my book - as opposed to sitting around waiting for someone to stumble across your place as often happens.

  6. #6
    Join Date
    Sep 2007
    Location
    Auckland
    Posts
    7,589

    Default

    Sounds like a good deal to me.

  7. #7

    Default

    Quote Originally Posted by Wayne View Post
    At 2.75%+ I'd take it.
    Personally I am fairly happy to pay where they have added value. Bringing the buyer to you like that adds value in my book - as opposed to sitting around waiting for someone to stumble across your place as often happens.
    100% agree... they have already provided value... why would you expect to pay less than their standard rate.

    You will be saving time and inconvenience by:
    - not having to do any tidy up the property
    - having the hassle of open homes
    - having large numbers of strangers come through your house

    You will be saving money by:
    - not having to tidy up the property
    - not having to pay for advertising

    if the price is a good one to you take it, pay the agent, move on.

  8. #8

    Default

    To an experienced agent a buyer they have built a relationship with is probable future income, why would he steer the buyer into your property for a lot less than he can steer that buyer into another one? That buyer is of value to him.

    At the same time, you are offering a conversion now. So it upgrades probable income to definite. Your property is of value to the agent.

    So meet in the middle. You could offer a 1 weeks listing with no marketing spend at a .75% discount, after which you will open it up to all agencies to bid on selling your property.
    Free online Property Investment Course from iFindProperty, a residential investment property agency.

  9. #9
    Join Date
    Nov 2006
    Location
    Cyberspace
    Posts
    5,415

    Default

    Oh, come on guys. This vendor has no need to sell now. I wonder if the agent has knocked on the door? Possibly. What would 0.5% actually be in terms of dollars? Let's say it sells for $400k. You are looking at $2k commission. What does the agent need to do for this? Take the (ahem) three qualified purchasers through? In all of one day each? No marketing, no rushing around with tyre kickers etc.

    For little more than a few hours work he gets $2k.

    Or, is that not enough for you lot?

  10. #10

    Default

    Just because one particular transaction is easy you shouldnít get paid a lot less. Youíre in business, you should know this.

    Agents are taught to secure good listings to then build your buyers list. You can ask him to give up his future earnings if you want, just donít be surprised if he says no.

    If I walk on to a car lot can I buy at no commission if I just happened to be there because I was with a mate? Computer store? Hell no.

    Thereís a quick way to test this out, list it privately on TradeMe at the price the other one sold at or a bit less (after it goes through, you donít want your neighbors wrath).


 

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