Real Estate Agent Question

[Sagamoron]

So the boss and I are getting ready to put our place on the market, doing a few small things to improve the curb appeal and touch up things we've been ok dealing with over the last few years. We are looking to move towns so I am wondering if it makes sense to find one agent who is local and knows the market in which we are selling and then find one in the town/area we like since they would know that market better. Many places in our neighborhood are selling during the first open house, so its not like an agent would have a ton of work in marketing and getting our place sold...

I'm trying to save myself on commissions so I'm not sure the best way to move forward.

[Below Zero]

Well commercial real estate is a whole different ball game. I think it would be more important to find a real estate agent who is familiar with the specific building type you are looking for; whether it's office, warehouse, etc.

[Danno]

Agent commissions is kind of a regional thing, but around here it seems standard that in a buy/sell double transaction, they will charge 5% if they handle both, otherwise I think it's 6%. But even if the 2 towns are close enough that you could use the same agent for both transactions, the loss of one point might be made up by the value that a truly local agent can provide. Just because homes are selling like hotcakes doesn't mean you'll get the most for your house. If a good agent can bring you an extra $5k on a $300k house, they just made you an extra $2k, even after paying them the "extra" point.

[oftpiste]

depends upon how far away you are thinking of moving. If you're staying on the Cape for example you could probably use the same agent. If they're any good they can easily handle a switch from Sagamore to Wellfleet. It doesn't really save you money to use different ones either. You're going to pay someone to list and the seller's going to pay someone to list the one you buy.

[Bromontana]

I'd prefer to have 2 agents like Danno says, but if you use the same brokerage maybe you could call the regional broker (not agent, but the regional manager). Tell him/her you want to give them a dual end transaction of sell-->buy and ask to do it at 5% split evenly across both agents. I doubt you'll experience any resistance; that type of thing makes brokers feel like dealmakers. Then you can have the best of both worlds. GL

[oftpiste]

Managing brokers have no control over what agents charge. Independent contractors. You can always make an offer to the one agent, who, if he's doing two deals with you is probably more inclined to agree to a discount. Or not. It's all work and requires skill! An agent's job should not be measured by their marketing (it should all be good no matter who you use) but the experience and skill they bring to managing the entire transaction[s] and how secure you feel with them. Does your boss tell you that he'll give you less money when you do two jobs? Probably not....

I'd prefer to have 2 agents like Danno says, but if you use the same brokerage maybe you could call the regional broker (not agent, but the regional manager). Tell him/her you want to give them a dual end transaction of sell-->buy and ask to do it at 5% split evenly across both agents. I doubt you'll experience any resistance; that type of thing makes brokers feel like dealmakers. Then you can have the best of both worlds. GL

[Sagamoron]

Managing brokers have no control over what agents charge. Independent contractors. You can always make an offer to the one agent, who, if he's doing two deals with you is probably more inclined to agree to a discount. Or not. It's all work and requires skill! An agent's job should not be measured by their marketing (it should all be good no matter who you use) but the experience and skill they bring to managing the entire transaction[s] and how secure you feel with them. Does your boss tell you that he'll give you less money when you do two jobs? Probably not....

Great points, thanks.

[fatnslow]

IF you are comfortable doing financial transactions and can deal with some emotional hysteria you might give yourself one FSBO open house and see how things go. I know a good real estate agent can be worth their fee BUT during a hot market a house can move quickly, even while selling it yourself. Potential to pocket additional 3-7 %, which isn't chump change for a $500k plus house.

[Bromontana]

Long & Foster routinely doles out incoming requests to agents at the discretion of the office managers. Sure they're independent contractors, but a managing broker has the network and authority to approve a reduced commission deal and solicit agents in the respective offices to get the job done.

If you call a broker and he hands off a deal to an agent it's absolutely reasonable to ask for a discount. It's free (incoming) business without the need to market or prospect/network. You're simply riding the coat tails / enjoying the benefit of working for a well networked brokerage. 2.5% is plenty compensation for a deal being tossed in your lap. I've done it.

[Kenny Satch]

Well commercial real estate is a whole different ball game. I think it would be more important to find a real estate agent who is familiar with the specific building type you are looking for; whether it's office, warehouse, etc.

this^^^^
when it comes to Commercial DON'T use a Residential agent ever
you get what you pay for

[liv2ski]

While I agree with a few takes here, my 2 cents is this: You're in a HOT selling market? There are companies that will sell your place for 1%. Add in a 2% commission to the buyers agent and you're at3% plus other costs (escrow/title,etc).
I would definitely have a buyers agent in the new area that really knows the area. I would look for more of a buyers (rather than listing) agent to help you.
Good luck. Selling and buying RE can be a huge PITA. Good news is, being in a hot market helps smooth out some of the buyers crazy demands.

[Below Zero]

I'm confused now. Are we talking commercial or residential real estate?

I thought we were talking commercial real estate because the OP said he was working with his boss. I thought the OP was selling the building he works in.

[liv2ski]

Teh boss is always the little lady

[Kenny Satch]

just call several Commercial Brokerages and have them view the property and give you a price they think its worth and what Commission they charge
then you can make an informed decision

[Danno]

I'm confused now. Are we talking commercial or residential real estate?

I thought we were talking commercial real estate because the OP said he was working with his boss. I thought the OP was selling the building he works in.

I was wondering where you got the commercial RE angle and why you answered as you did; I couldn't see any indication in the OP's post. As liv2ski noted, I believe "boss" referred to the OP's wife.

[RootSkier]

If you are in a hot market and places are selling fast, paying a listing agent is a fucking HUDGE waste of money.

/just bought a house off of Craigslist at the beginning of the month, first day on the market. Also a former realtor. My agent was a little annoyed, but I warned him this might happen.

[Danno]

If you are in a hot market and places are selling fast, paying a listing agent is a fucking HUDGE waste of money.
.

Not entirely sure I agree. If you just need to sell, sure, in that market you can easily sell without an agent. But in a hot market it's very easy to leave money on the table unless you're very savvy and very tuned into the market. Whether that amount of money is enough to make the agent worth it is an open question.

[skifishbum]

never pay anyone to do somethin you can easiy do yourself
and i sold our house on tgrz
and remind the boss anytime she questions the power of the blue screen or time spent

[Danno]

The issue isn't whether you can sell it yourself. The issue is whether you'll get the same price as an agent would get you, and if not, what's the overall difference.

[RootSkier]

I would still rather pay an agent $1000 to out together a market analysis and suggest a listing price range. If you are thinking of selling and are too lazy to watch your neighborhood for awhile, oh well. You deserve to get shook.

[XXX-er]

I tend to agree with Danno you didn't pay an RE agent but mayeb you don't know if you are leaving money on the table and there could be all kinds of factors which make the agent worth the $$$

last house I sold was in another town, the agent sold it so fast in a sellers market I thot it was priced too low but that sellers market turned around to a buyers market in a month and suddenly it was a great deal, if i had tried to sell myself I couldn't have done it that fast ... i would have missed the peak

guy who fsbo'ed this house had it listed 5 months, ends up dropping the price 15% but he didn't pay no stinking RE agent

[digitaldeath]

New title: I'm trying to murder the housing market, help guide me


Remember that sometimes when you try and save money, you end up spending more.

[Kenny Satch]

Remember that sometimes when you try and save money, you end up spending more.

this is true

when it comes to selling in a hot market an Agent can get you more money
Realtors earn their money when they create competing offers and negotiate full price or better

do it yourself IME never get the price they want because they want the same money if it were listed.....buying can be different

its all about negotiating which most people can't do. it gets personal and a middle person can be told to fuck off, yelled at, kicked out and still end up doing the deal

how many of you self doers would or could tolerate that ?

always us a pro when you don't know in any major life investment

[skifishbum]

defend the dirt pimps all ya want
but i am a pro bro
we got what we wanted from a maggot
shit the realtor wanted to sell this old Mormon mansion so bad he did that did that deal for free
why would i pay you when i did the work minus your scam to be able to msl
the only issue was what should i spend the $$$ we saved on
and of course the boss picked the kitchen

[Kenny Satch]

defend the dirt pimps all ya want
but i am a pro bro
we got what we wanted from a maggot
shit the realtor wanted to sell this old Mormon mansion so bad he did that did that deal for free
why would i pay you when i did the work minus your scam to be able to msl

you did good so what

you beat the system...want a medal ?