flat fee listing service and selling on terms

6 Replies

I have a house that has quit a bit of equity that I'm looking to sell. In the past I have sold a lot of my homes with owner carry. I'm considering doing a flat fee listing.  

I'm fine to cash out of the the property or sell on terms. I'm willing make a cash buyer a great deal, but I'm not willing to sell on terms at below market price. I'm trying to wrap my mind around how to structure it. If I  put the list price at the cash price then it would be hard to raise the price if a buyer wanted terms. 

 If a buyer's agent brings me a cash buyer that would be  lot different than them bringing me a buyer that need  me to finance the sell. For example 3%-4% of the sells price my be more than the buyer's down payment. Has anyone ever offered to pay the buyer agent 20% of the down payment instead of 3% of the selling price this is if it sells on terms?

Also does anyone have a recommendation on a flat fee listing service for the San Antonio, Texas?  

Also does anyone have a recommendation on a flat fee listing service for the San Antonio, Texas?

Originally posted by @Joel S. :
If a buyer's agent brings me a cash buyer that would be  lot different than them bringing me a buyer that need  me to finance the sell. For example 3%-4% of the sells price my be more than the buyer's down payment. Has anyone ever offered to pay the buyer agent 20% of the down payment instead of 3% of the selling price this is if it sells on terms?

This sounds like a bad idea. 

Scenario 1:  I was going to buy your house and you have it at list price, which is fair market value. I am a cash buyer, therefore, I will get 20% of the down payment (which I will list as the full price of the house).  I'm assuming that you're going to reject this offer, even though it is a full market price for the house, simply because you can't afford the commission. 

Scenario 2: I'm working with a client that only has a FHA down payment capability. So your offer is to give me 20% of 3%, which is 0.6%. Needless to say, it isn't worth the gas to drive out to your property for that amount.

My best advice is simple. Find out what the fair market value of the house is and list it for that. Pay a fair commission. If a seller submits an offer that requires an owner carry, you can always counter at a higher than list price. Most people who need owner financing have issues, so they know they will pay more for your cooperation.

-Christopher

P. S. I'm not a fan of flat free brokers. They don't charge much, but generally speaking, they don't do much work either. They're good if you're in a hot market, but if your property needs aggressive marketing and/or personal care (like an open house), you're unlikely to get good results.

I have to agree. If you want a realtor, pay the 5 or 6%. If you want to save the 6%, then sell it yourself on craigslist.

Pick one and go with it.

Joel,

My name is Zac Woodard and I am a Real Estate Broker for a family owned company near San Antonio. Give us a call about selling your home. Ask my myself or my Dad, Woody Woodard. 210-695-0041. 

Maverick Properties 

Hi @Joel S. , check out listingspark.com.  They presented at an Austin investor's meeting not too long ago.  They are available in all of the major Texas metro areas.

@Joel S.

How much do you know? Sounds like you are fairly experienced. If you know your contracts and such, find a flat fee agent. 

http://lmgtfy.com/?q=san+antonio+flat+fee+listing

My feeling on the buyer's commission: offer 3%... BUT I would rather offer agents 0% than not list on the MLS.

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