Contract…Realestate (Commission)?
Will a realtor be willing to sign a contract that states their commission is anything above a certain dollar. I need to clear $300,000 so I want the contract to say that their commission is anything above $300K. So if it sells for $320,000, they get $20,000…if it sells for $301,000 they get $1,000. Would a realtor do that? Can they do that? I spoke with realtors and they say they would list it for $319,000 and I should have no problem getting $315,000.
This is a net listing and is NOT legal.
The realtor has no way to effect the market value of your home. It will sell for what it’s worth. Just because you ‘need’ it to sell for 300k doesn’t mean that it will.
December 18th, 2009 at 1:28 am
There are two of them involved. You can do this, but you also need to set a specific amount for the buyers agent. The way you will have it set up if there client sends in a low offer you are unwilling to pay them to close the sale…..so you house is not going to be shown by the hundreds of other agents, only yours.
If you so this offer a specific amount to the buyers agent. Standardly they would earn 9k from a 300k sale, so offer them that and let your agent decide on their own if they are willing to list your house and get you through closing for (possibly) free.
References :
December 18th, 2009 at 1:50 am
I don’t personally know of any Realtor or agent (yes there is a difference) that would accept a $1,000 commission as they would be splitting it with another agent so each would receive $500 total on a sale of $301,000. That doesn’t make sense unless the agents are willing to wait for the market to change so that they would make the listing at $319,000 therefore receive a $19,000 split between the two. Also they say you should have no problem getting $315,000 but I would have them give you the comparables within a mile radius of your property before signing a listing agreement with anyone.
References :
16 yrs Real Estate
Title & Escrow
Loans
December 18th, 2009 at 2:32 am
This is a net listing and is NOT legal.
The realtor has no way to effect the market value of your home. It will sell for what it’s worth. Just because you ‘need’ it to sell for 300k doesn’t mean that it will.
References :