Real estate commissions

CGI3 · 08-09-2010, 04:31 PM

Whats the average real estate commission in the lakes region. And also, it it possible to list the house on MLS without a real estate agent?

bigRazor · 08-10-2010, 06:21 AM

I don't know what the average is around here but in Southern NH, it's between 4 - 6 percent.

You can't get your house on the MLS without a real estate agent. However, you can do an entry only listing. You pay an agent a fee to get your house on the MLS. You handle all showings, negotiations, etc. The "listing" agent in this case does nothing for you except put your house on the MLS. You will have to offer a buyer agent commision.

Kamper · 08-10-2010, 07:09 AM

http://www.forsalebyowner.com/

I don't think this service participates in the MLS but you could give it a try. I see their signs from time to time.

Good luck!

BroadHopper · 08-10-2010, 09:06 AM

Is around 7%. The commission is negotiable with the broker. There are certain fixed administrative fees that are paid out of the commission and the rest goes to the broker. The higher the selling price the lower the commission. That is what I am told by a broker friend.

I do know that the commission can be negotiable. If you have a buyer agent, the commission is split between the two.

In one known case, a friend wanted to buy foreclosed lakefront property in Tuftonboro. The well known Wolfeboro agent wanted a 15% commission, claiming more paperwork with foreclosed property. A few phone calls, my friend located the bank that owns the property. Dealing directly with the bank, he saved 15%.

Do your homework.

MAXUM · 08-10-2010, 12:51 PM

I know somebody that used isoldmyhouse.com and you can get your house listed on the MLS through them for a fee of course.

Good luck if you're looking to sell yourself, it's not as cost effective or easy as you may think.

nhd · 08-11-2010, 05:23 AM

As a realtor I have to point out a few facts about selling a house yourself. The median sales price of a FSBO home reported was $153,000. The median sales price of an agent-assisted sale reported was $211,000. (NAR Stats)
87% of all buyers turn to the internet today to buy homes. Our company has spent considerable time and money into it's website design (www.spencerhughes.com). It also places it into the most popular search engines. It would go into REALTOR.com (#1 real estate site in America). This creates a high impact online marketing system.
In addition you have to be able to answer your phone and schedule showings at all times. I have followed up on some FSBO and can never get an answer on the phone. Discourages me, can't imagine what it does to a buyer.
Although you might pay for a real estate commission you get a lot more exposure and experience from a well known real estate company. Our commission goes into marketing and exposure not just our pockets!
Lastly a buyer will come in with the attitude of they are not paying the commission and they automatically knock the price down that percent.
If you decide to continue with a FSBO good luck. In this difficult market ask yourself if you really want to have limited exposure. A house that is priced correctly will sell. Our goal is to get you the most we can as quickly as possible and we will do a market analysis to get the correct price. If you want an experienced company to market your property then feel free to give me a call at Prudential Spencer-Hughes/Alton.
Nancy DePorter
603 875-2020
Lastly if you do decide to sell it yourself be prepared to have every realtor in the area calling to ask to list it for you. We are aggressive!

This'nThat · 08-11-2010, 05:44 AM

Quote:

Originally Posted by nhd

As a realtor ...

nhd, you answered everything but the original question -- commission percentage? Seems like you're in a good position to provide this info, no?

nhd · 08-11-2010, 05:55 AM

Varies, depends upon the property. Most are between 5-6%. Land is more. Some brokers will go less.

jerseyonbear · 08-11-2010, 08:50 AM

Real Estate agents all work on commission. Doesn't it stand to reason that an agent is going to show and sell the homes with the highest payment to them The area that I work in is showing more 7% to encourage the showings and the sales and the seller usually ends up with more money.

codeman671 · 08-11-2010, 08:50 AM

I have never paid more than 5%. No need to. There are no shortage of agent that are hungry for listings, and if they aren't putting the proper advertising and effort into it there are 10 right behind them to take over.

ishoot308 · 08-11-2010, 09:10 AM

One of the things we did with our Realtor when we sold our house was to only sign a three month agreement in lieu of the standard 6 months. This really puts a fire under their butt to advertise and push the sale of your house. If you don't like what they have done in three months, simply find another Realtor. My house was sold in just under three months at a 4% commission.

FWIW;

Dan

08-10-2010, 09:06 AM	#4
BroadHopper Senior Member Join Date: Oct 2004 Location: Laconia NH Posts: 5,522 Thanks: 3,128 Thanked 1,090 Times in 784 Posts	Average Is around 7%. The commission is negotiable with the broker. There are certain fixed administrative fees that are paid out of the commission and the rest goes to the broker. The higher the selling price the lower the commission. That is what I am told by a broker friend. I do know that the commission can be negotiable. If you have a buyer agent, the commission is split between the two. In one known case, a friend wanted to buy foreclosed lakefront property in Tuftonboro. The well known Wolfeboro agent wanted a 15% commission, claiming more paperwork with foreclosed property. A few phone calls, my friend located the bank that owns the property. Dealing directly with the bank, he saved 15%. Do your homework. __________________ Someday may never be an actual day.

08-11-2010, 05:23 AM	#6
nhd Member Join Date: Jul 2010 Posts: 39 Thanks: 18 Thanked 53 Times in 15 Posts	As a realtor I have to point out a few facts about selling a house yourself. The median sales price of a FSBO home reported was $153,000. The median sales price of an agent-assisted sale reported was $211,000. (NAR Stats) 87% of all buyers turn to the internet today to buy homes. Our company has spent considerable time and money into it's website design (www.spencerhughes.com). It also places it into the most popular search engines. It would go into REALTOR.com (#1 real estate site in America). This creates a high impact online marketing system. In addition you have to be able to answer your phone and schedule showings at all times. I have followed up on some FSBO and can never get an answer on the phone. Discourages me, can't imagine what it does to a buyer. Although you might pay for a real estate commission you get a lot more exposure and experience from a well known real estate company. Our commission goes into marketing and exposure not just our pockets! Lastly a buyer will come in with the attitude of they are not paying the commission and they automatically knock the price down that percent. If you decide to continue with a FSBO good luck. In this difficult market ask yourself if you really want to have limited exposure. A house that is priced correctly will sell. Our goal is to get you the most we can as quickly as possible and we will do a market analysis to get the correct price. If you want an experienced company to market your property then feel free to give me a call at Prudential Spencer-Hughes/Alton. Nancy DePorter 603 875-2020 Lastly if you do decide to sell it yourself be prepared to have every realtor in the area calling to ask to list it for you. We are aggressive! Last edited by nhd; 08-11-2010 at 05:24 AM. Reason: text change

08-11-2010, 08:50 AM	#9
jerseyonbear Senior Member Join Date: Jun 2005 Posts: 97 Thanks: 94 Thanked 7 Times in 6 Posts	Higher commission Real Estate agents all work on commission. Doesn't it stand to reason that an agent is going to show and sell the homes with the highest payment to them The area that I work in is showing more 7% to encourage the showings and the sales and the seller usually ends up with more money.

08-09-2010, 04:31 PM	#1
CGI3 Senior Member Join Date: Jul 2009 Posts: 91 Thanks: 135 Thanked 18 Times in 11 Posts	Real estate commissions Whats the average real estate commission in the lakes region. And also, it it possible to list the house on MLS without a real estate agent?

08-10-2010, 06:21 AM	#2
bigRazor Junior Member Join Date: Apr 2009 Location: Pelham, NH Posts: 19 Thanks: 0 Thanked 2 Times in 2 Posts	I don't know what the average is around here but in Southern NH, it's between 4 - 6 percent. You can't get your house on the MLS without a real estate agent. However, you can do an entry only listing. You pay an agent a fee to get your house on the MLS. You handle all showings, negotiations, etc. The "listing" agent in this case does nothing for you except put your house on the MLS. You will have to offer a buyer agent commision.

08-10-2010, 07:09 AM	#3
Kamper Senior Member Join Date: Jul 2005 Location: Thornton's Ferry Posts: 1,296 Thanks: 67 Thanked 166 Times in 126 Posts	http://www.forsalebyowner.com/ I don't think this service participates in the MLS but you could give it a try. I see their signs from time to time. Good luck!

08-10-2010, 12:51 PM	#5
MAXUM Senior Member Join Date: Apr 2004 Location: Kuna ID Posts: 2,755 Thanks: 246 Thanked 1,942 Times in 802 Posts	I know somebody that used isoldmyhouse.com and you can get your house listed on the MLS through them for a fee of course. Good luck if you're looking to sell yourself, it's not as cost effective or easy as you may think.

The Following User Says Thank You to MAXUM For This Useful Post:
CGI3 (08-10-2010)

08-11-2010, 05:55 AM	#8
nhd Member Join Date: Jul 2010 Posts: 39 Thanks: 18 Thanked 53 Times in 15 Posts	Varies, depends upon the property. Most are between 5-6%. Land is more. Some brokers will go less.

08-11-2010, 08:50 AM	#10
codeman671 Senior Member Join Date: Jan 2005 Posts: 3,382 Thanks: 215 Thanked 772 Times in 455 Posts	I have never paid more than 5%. No need to. There are no shortage of agent that are hungry for listings, and if they aren't putting the proper advertising and effort into it there are 10 right behind them to take over.

08-11-2010, 09:10 AM	#11
ishoot308 Senior Member Join Date: Feb 2008 Location: Gilford, NH / Welch Island Posts: 5,974 Thanks: 2,303 Thanked 4,984 Times in 1,931 Posts	One of the things we did with our Realtor when we sold our house was to only sign a three month agreement in lieu of the standard 6 months. This really puts a fire under their butt to advertise and push the sale of your house. If you don't like what they have done in three months, simply find another Realtor. My house was sold in just under three months at a 4% commission. FWIW; Dan