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0 pointsSoftTalker2y ago0 comments

You might not even need to do that much. I sold a home in a desirable neighborhood (I don't mean high-end, just a nice solid middle-class area with good schools, etc) by just putting a "for sale" sign in the front yard.

Having commission be a percent of sales has some theoretical advantages. For example you might think the agent is motivated to get you the highest selling price. But in reality they are much more interested in making a sale at any price, because that lets them get paid and lets them move on from marketing your property.

Residential real-estate transactions with a mortgage are about as regulated and standardized as it gets. The listing agent actually does very little beyond getting the property listed in the MLS. The difference in the amount of work they do in selling a $100K house vs. a $900K house is small (in fact the $100K house might take a lot more work because at that price it's probably got some serious drawbacks), so why should the higher sale price pay them much more?

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conductr2y ago· 1 in thread

MLS puts a lot of eyeballs on it and likely can and will increase the sales price. A sign in the yard is not likely to ignite a bidding war. Although I'm glad this worked out for you, it seems like bad advice in general.

> For example you might think the agent is motivated to get you the highest selling price. But in reality they are much more interested in making a sale at any price, because that lets them get paid and lets them move on from marketing your property

This is true. Although, it's just important to remember your contract with the realtor is to sell it at a Listing Price. You have no obligation or liability to except a lower offer or reduce your list price, ever. They are salespeople and lean into the friendship thing, but remember they work for you and treat it as a big important financial transaction like it probably is (to you)

SoftTalkerOP2y ago

> You have no obligation or liability to except a lower offer or reduce your list price, ever

That’s true but in my experience they will pressure you to do so.

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