Author Topic: Selling a Home Realtor Fee Questions..........  (Read 1243 times)

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Offline Bob

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Selling a Home Realtor Fee Questions..........
« on: July 04, 2012, 06:31:35 AM »
We are in the process to sell my mom's totally paid and owned fee in St. Charles.  We have not hired a realtor for this as the plan to sell is a new one, but we already have a deal from someone who hired Coldwell Brokers as their own realtor.   

I am hoping there are some smart realtor like people out here who think this is fair and the fees we would pay their realtor are not outragious.  Basically, my mom would just like to be done with the house and have it sold soon.  Believe me, she has a TON of money, so the fees are not really an issue.....yes, that is a good thing.

When I read the "fun to read" document, I see.
 
1.  They have hired Coldwell Banker as their realitor and have paid them $1K so far and agreed to pay the seller $167K.
 
2.  The seller agrees to pay Coldwell 4% of the sales price as a fee.  This is listed on page 9 of the document and seems to be a realistic fee, even for people that do not have their own realtor.  I did not see anything listed wrong as this fee.....silly, but that seems to be the rules now.   I checked on Google and this happens.
 
3.  On page 7 we would pay $500 for a Home Protection plan for the buyer and also pay 3% of the sales price to the buyer to pay for their closing fees.   This is also not something that is unfair in today's world either.
 
So basically, there would be a 7% fee paid and maybe up to $500 other dollars from the $167K fee. 
 
I guess if it could be stated that these three items are the only thing the seller will pay, it seems fair.   That is, the seller will not make any changes to the house and there are no repair items to be made.
 
Does this seem what everyone sees?


Offline jewishcarpenter

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Re: Selling a Home Realtor Fee Questions..........
« Reply #1 on: July 04, 2012, 09:28:16 AM »
Maybe you should post this on my wall on FB and I'll see if my wife would look it over.


Online RVR II

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Re: Selling a Home Realtor Fee Questions..........
« Reply #2 on: July 04, 2012, 09:30:34 AM »
My mom was in real estate for 25 years before she retired..

The Buyer should be paying the realtor I think..
If they are the ones that hired them, then it is their responsibility to pay the realtors fees. :-\

I would consult with a real estate attorney if you are not using your own realtor to CYA. 8)


Offline Bob

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Re: Selling a Home Realtor Fee Questions..........
« Reply #3 on: July 04, 2012, 09:39:40 AM »
Maybe you should post this on my wall on FB and I'll see if my wife would look it over.

That is awesome and I just did.  Just want to make sure that is a normal thing for the seller to pay........

Thanks.