Trying to sell a house in Bay Area and wondering if I can save on the hefty 6% commissions costs. I see some online websites like Reali trying to change the housing market and getting rid of realtors. Is it actually worth trying? Alternative is for me to list on MLS with flat fee and offer just the buyers agent commission. Would appreciate any tips from past happy home sellers, thanks!
Also when it comes to appraisal your house will be 6% less usually. Appraisals take into account realtor fees.
Depends if your house is unique. If you live in a condo or townhouse where the comps are really easy cut them out. If not unfortunately they are helpful to get people to look at your place
Yes, 6% is just too high for such work. Let us know how it goes
I've bought and sold several times without realtors. Make sure you have a lender you have worked with before. Also have a good title person
How did you do that? Did you get good bids? Do you have real estate license? How did you manage to not pay buyers agent?
When I've sold I have to pay a buyer's agent. When I buy I ask for a 2% price cut because I'm not using a realtor. I don't have a real estate license, but you only need a license to represent others, not to represent yourself. If you see a home you are interested in, just call the Lister. When I have sold I have just listed on Zillow
Would have been much easier last year. It’s a totally different story this year. Housing is falling fast. The home loan rates are expected to reach 5% by end of 2019 and home values will drop another 10-15% because of high rates, entry level buyers being priced out, Overseas buyers losing interest in US market (and curbs on capital flight by China), and record supply coming online compared to last 2-3 years, SALT tax deductions being reduced in new tax code, lower incentive to buy second house for investment/vacation because to tax changes that no longer subsidize this.
Nope
It's actually 3%. The buyer agents will want their cut or tell their buyers to buy elsewhere
In a down-turning market those 6% could be a difference between selling & watching your property drop... if this were a seller’s market, by all means cut the leaches out...