Realtor Fees payment plan?

Question

I really want to sell my house quickly, but estimate I can at best "break even" and get about what I paid for it, which satisfies the loan. The problem is the realtor fees which will be approximately 6%, can be significant in Ca.

At this point I don't have at the cash on hand to pay that amount. I understand all debts have to be settled at closing, but is there a such thing as a payment plan in which I can make agreed upon payments to the realtor after the house is sold? I realize that FSBO is an option, but I'd prefer to deal with a professional. Thanks in advance.

Answer 1

I would highly doubt any realtor would agree to this, but you could certainly try. I agree with everything "acermill" said, and in addition have this point to make. When you close through escrow EVERYTHING has to be disclosed on the HUD-1 Settlement Statement, which is a document basically outlining where all of the money is going - whether it be fees, loan payoff, property taxes, etc. It would seem impossible that you could get away with paying the realtor on your own because that's essentially paying them under the table, which is not allowed and is the whole purpose of the HUD - to disclose everything.

In addition, you have to understand that both agents (seller's & buyer's) typically gets 3% each. So you're actually asking BOTH realtors to do a huge favor for someone they don't even know. Now would you honestly do that if the situation was reversed? Probably not if you get paid on commission and need to support for your family and pay your bills.

Your best option is to list your house as a FSBO or negotiate with the realtors for a lower listing fee than 6%. It seems you really want out of this situation for whatever the reason may be, do you really want a 6% realtor fee hanging over your head AFTER you no longer own the home? Probably not.

Answer 2

All commissions are negotiable. You don't pay till the house closes. You can find a good realtor who is in to help people not just the money that will do it for you, but say if you wanted to cut the commission down to 4% for both sides. I am sure the agent would do a 2.5 for selling and a 1.5 for listing, but as cruel as this sounds, some selling agents looking at homes for buyers will show there buyers the homes with the higher commission rate first.

Answer 3

Realtor fees are negotiable. 5% will give each 2.5% or the listing agent (your Realtor) may take 2.6 and give 2.4 to the Buyer's Realtor. In very few circumstances will a Buyer's agent accept lower commission. Those circumstances may include a house over $500,000.

Answer 4

Big realistate co, will not do this, you have to look for a small co, maybe some of the owners, if there are not busy, will take a Chance. Also you can put on MLS and Realtor.com for $300.00 and pay only 3% commision to the Realtor who will bring the client, and if people will come without the agent you don't have to pay nothing, my opinion this is the best choice for you, I just sold the house this way. People call me from Realtor.com I show them a house and my expense was $300.00. Good Luck!

Answer 5

Some agents (especially those who pay desk fees instead of being on some kind of percentage with their broker) will take some or all of their fee in the form of a note. This is done more with investment property but it can be done with an owner occupied primary residence situation also.

Keep in mind the 6% is for both brokers (yours and the one that brings the buyer) so 3% belongs to the buyers agency broker. You will have to make sure they get paid at closing.

Answer 6

I suppose you could ask a realtor for such a program, but as a realtor, my first and only answer would be NO.

Why? Consider it in this light. Would YOU work for an employer and allow him/her to pay you on a time payment program ? Do remember that a realtor's commission is also his paycheck. He/she needs it as much as you do.

Answer 7

do not understand what that cost must be. yet in the international of genuine components, each and every thing is negotiable. once you're making the acquisition supply, state as a provision that the vendor will pay that cost. in the event that they certainly need to sell undesirable adequate, they are going to %. it up. in the event that they enable a wonderfully stable deal pass down the drain using a $345 cost, then they get what the deserve.