Lots of variables there. First and foremost, a broker’s fee is ALWAYS negotiable, when listing a property and if an agent tells you it isn’t, look for a different brokerage. Also, the seller always pays the commission to the listing broker, unless there is an agreement between the buyers and their buyers agent to search for a property. If it is a MLS listing, the norm is 3% to the buyers broker. Is this a commercial property because 10% is, in my opinion, extremely high for the sale of a residential property. The usual is 6% to 7%. A broker has their listing fee and then whatever commission % the broker pays to his agent is their internal agreement.
Are you buying or selling?
Agent found a renter. They met to pay the security deposit, first month's rent and agent fee. Because I couldn't be present, I requested photos of the cashier's checks. Agent sent me four photos.
4,700 - security deposit
4,700 - first month rent
4,230 - Agent fee
4,230 - broker's fee
17,860 - total paid upfront by renter before receiving keys to apartment!!!
This is insane!
Why would renter have to pay 4,230 twice?
Shouldn't 10% be 470.00 instead of 4,230?
Shouldn't the broker's fee be deducted from the agent's check?
I'm 100% shocked at how much a renter had to pay in order to live in my building. It just doesn't feel right.
Here’s my question: I own a house outright that I bought 12 years ago as a foreclosure. I’m ready to move, but it needs work. I figure 25-30K. It needs new AC, bathroom remodel, all new appliances. It could use new windows, which is not included in that 25-30K. It has carpet over hardwood that could be stripped and re-finished. I have no desire to do any of the work before selling.
It’s in a quiet decent blue collar neighborhood. The other houses for sale are not really updated and are listing for 200-250K which is much higher than a few years ago. There’s not a lot on the market, but there rarely is. My lot is a 1/2 acre, the others 1/4 acre. There’s no garage but a two car carport and a 2 story storage building while the others have one car garages. Mine is 100 years old. The others are 50. Mine has some quirks as it was changed or added onto through the years.
I’ve been getting mail and texts from We Buy Ugly Houses type companies. I want to sell it as it is. I don’t know if wiring is up to code. Can a realtor handle AS-IS houses? Any idea how much of a low ball the Ugly Houses types offer? Or how do I price a FSBO fixer upper?
Thanks for any tips.