I would like to know if it costs anything to put your home on the market to be sold?

Question

Also, we were considering doing this through Keller-Williams Realty. If you've ever dealt with Keller-Williams, what was your experience(Good/Bad)?

Answer 1

A great agent will be upfront with you on what you need to be done in order to compete in the market.

Most seller I deal with told me their home is worth more than what is sold in the area. You might spend more on your upgrade and your taste to personalize your home but the next buyer might have a different taste, Buyer will not pay any more for your house than what a comparable house was sold for across the street from you.

Dont forget to ask the agent you hire about his marketing plan. If your home is at least on the $200K the agent should include a virtual tour in addition to a regular marketing plan.

I am a Keller Williams agent, great agent training but really, it's up for the agent to put their training into action. Make sure you hire an agent with designations, GRI, ABR, CRS, etc... this means the agent is serious and taking advance classes to get ahead. These agents are usually more creative and better negotiation skills.

Normally, agents will not charge you anything until your home is sold, on some instance though, when the seller wanted to list the home above the market value, agents usually charge a marketing fee, because we know the house will sit on the market for a while until the seller realized that the home is overpriced and decided to lower the price at market.... the agent know he will spend more on marketing the home if it stays longer in the market.

When you interview your agent, make sure he knows his/her numbers. Ask about the inventory in your area, sold comparable properties in the area, and make sure his opinion of price is backed by his data....

Good luck.... I hope this helps!

Answer 2

Keller Williams is a great company with a big emphasis on ethics and fair treatment. They have grown tremendously in the last few years, But, really, you hire an AGENT, not a company. The company has superb training and support, but it's up to the individual agent to make the most of their training and bring their skills to work for you.

Many agents these days have either full service or you can choose and pay for the services that you want (pay as you go). Traditional full service (and still most popular), you will pay, at closing, a fee equal to approximately 6% of the sale of your house to the agents involved in the sale. The exact amount is detailed in your listing agreement Usually 3% goes to the listing agent, and 3% goes to the selling agent (it's rare for an agent to sell their own listing -- sometimes, if they do, they'll give you a 1% break on the commission, so that everyone wins.) From your listing agent's 3%, there will be a fee paid to the broker/office, but that's between the agent and their office -- not your problem.

With other listing agents, you can "pay as you go", i.e., pay them a fee to list the house in the multiple listing service for maximum exposure. Then pay another fee to produce flyers. Pay another fee to hold an open house. Pay another fee to review a contract. Etc., etc. Only problem with this approach is that you don't have someone keeping an eye on the sale from start to finish, which can be tricky if you're new to this.

You'll probably run into some costs to get the house ready for sale -- an agent may recommend new paint to eliminate a peculiar or unfashionable color in some rooms, or suggest refinishing a tub or replace a worn kitchen counter if those things detract from getting maximum value for a house.

Answer 3

If you put it on the market yourself and handle all of the marketing then it doesn't cost anything. The advantage to using a Realtor is you usually get a marketing team. Agents will pull ideas from other agents they work with. As fare as I know agents have to be licensed to do buisness, which means they are more knowladgeable about current laws and trends in your market area. They also can list your home on the MLS which is available to all agents nation wide. You should not have to pay any out of pocket expenses till your house is sold. I would ask the agent for a list of references. You can wind up with a great agent at a bum agency, or vice versa.

Answer 4

Most real estate agencies contract to sell your house for a fixed percentage of the final agreed sales price. Some have early termination expenses (if you change your mind after a month, and the agency has expended considerable monies in promoting the property).

As far as Keller-Williams goes, they were in my area for about nine months last year, and closed the doors thereafter. I can only assume it was because they were not making money.

Answer 5

As a seller, you have to pay the Realtors a commission.

There may be some transfer taxes, depending on area.

We don't have Keller-Williams in my area, but googling the program, I understand they have alot of agents in the stable, but not a bunch of production.

Answer 6

I have used a KW agent twice now. I actually was one for a while, but I did it part time and never actually conducted a transaction.

It does not cost you anything as far as a fee up fornt, but a percentage of your sell price goes to the agent. Typically around 3%.

KW has great ethical policies and is generally great. BUT, each agent is self-employed and some are better than others.

Good Luck!

Answer 7

joni38 is right.

Keep in mind, you may need to do some repairs or some updating on your house that may cost something. Your realtor can help you with that but given how bad the market is, don't be suprised if they want you to get carpets cleaned or paint a room or even replace your countertops.

Answer 8

It won't cost you anything until its sold. The last experience I had with a realtor, they charged 5% or 6% of the purchase price.

Answer 9

No charge up front........If your house sells, then the realtor who works for a company will get 3% and the company 3%.
So it will cost you -6% of what you sold for.......