9% fees for Selling a House? Really?
Hi everyone. Wanting to not hijack the other thread about RE agents - we are going to be looking at selling 2x houses, one of which is an under-performing $100-150/mo cash flow house that we think we have something like $50-85k equity, the other is a house that we think is worth $165-185k in a regular market that we own outright.
We have been working with an agent for awhile, as investors. He's been responsive, been transparent for the most part, and some other intangibles. We'd like to reward the effort of all the low dollar transactions on the buy side --- HOWEVER... in my first conversation with him he suggested mentally budgeting 9% of the sale price for commissions and other costs from the seller side? Seems CRAZY!
I like FSBO; it worked well for me. I'm wondering for you agents and folks out there, can you give me some perspective? 9% just sounds like a ton of money right off the top, and I'm struggling to see the value there.
Please give me some perspective here. Although I'd like to reward this agent, I'm thinking more about the FSBO or flat fee stuff, at this point. We had talked about my wife getting her license but that timing and goal is now on hold.