How to Avoid High Priced Real Estate Agents

Google+ Pinterest LinkedIn Tumblr +

If you’re currently looking for a way to sell your property and make more money on it by cutting out high priced agents, I hear you. Most agents charge an average listing price of 6% or more. Therefore, if the property sells for $600,000, you my friend, will end up paying a whopping $36,000 in fees. This comes right off the top of your profits. No one wants to give their profits away so you absolutely must read this article. In this article, I will teach you how to avoid high priced real estate agents and put cash in your pocket. You will learn about selling the property yourself or choose an economical agent, shop around for the best rate, stay away from exclusive right to sell and more. Sound interesting? You bet! Let’s get started.

Sell it yourself. One of the most economical ways to sell your property is to sell it yourself. Remember this process is very time consuming and you are in charge of everything required to sell your property. Some of these requirements are advertising, setting up appoints, actually meeting clients to show the property. If you have the time this can be fun, give you something productive to do in your free time as well as provide an opportunity for you to pay yourself. Give it a try; you’ll be glad you did.

Choose right listing agent and deal. If for some reason this doesn’t work for you, it may be wise to choose a listing agent that will assist you with placing it on the MLS and advertising. In return, you can pay them a one-time fee. You can even negotiate that the property be listed as a “For Sale by Owner” or “By Owner.” Some companies, like charges a one-time fee of about $1500.00 or so to handle the MLS listing, basic advertising and such. As you might guess, this will get the property out there however you will not have to share the profits. After all, with this sort of deal, you will be required to show the property and do the majority of the work to get it sold. 

Don’t sign that contract too fast.  Many agents like to have an exclusive real estate contract which means they get paid if the house sells, doesn’t matter who finds the buyer, they still get paid. However, don’t be so quick to sign this agreement. Instead, you can negotiate for a nonexclusive agreement where you will only be required to pay an agreed commission or percentage of the sold home, if the agent sells it.  If however, you sell the property yourself, you pay them nothing.

Don’t be afraid to negotiate. Let’s say none of the three suggestions worked and you are still in need of an agent to sell your property. Shop around for the best deal that an agent can provide and don’t be timid about negotiating a lower price. Be firm in what you are willing to pay an agent. Many times agent will be desperate to do business and will be more likely to abide by your terms.  This is especially true in a seller’s market where they have a ton more sellers and not enough homes to sell. Either way, it certainly can’t hurt to negotiate and trust me, it will be in your best interest to do so.

In conclusion, you can avoid high priced real estate agents if you try selling it yourself, negotiate for smaller contract, use a non exclusive contract and more.By doing this, you can avoid high priced real estate agents and get that house sold – under your own terms. Good luck!


About Author

Leave A Reply