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Re: Real Estate commission....is it negotiable?
Another good site is www.propertyguys.ca
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Re: Real Estate commission....is it negotiable?
It is a good site, but I just didn't take to the guy I spoke to. The rates are about the same for listing, but for me it came down to which is the biggest site in this country, with the best success rate(bytheowner) and rapport with the people I spoke to on the day. :) |
Re: Real Estate commission....is it negotiable?
Originally Posted by oldbag
(Post 6234387)
It is a good site, but I just didn't take to the guy I spoke to. The rates are about the same for listing, but for me it came down to which is the biggest site in this country, with the best success rate(bytheowner) and rapport with the people I spoke to on the day. :)
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Re: Real Estate commission....is it negotiable?
Originally Posted by oldbag
(Post 6233083)
As OP on this thread I just thought I'd give you an update:
We listed with www.bytheowner.com on April 9th, in those 10 days we've had 5 showings/viewings whatever you call them, and last night an offer of almost the full asking price came in! We have accepted, and are ecstatic, not just because we have saved so much money, but because if all goes well, we should be out by mid-June and starting the next chapter. I know the FSBO way won't suit everybody, and it is nerve-wracking, but all the information and the necessary forms are there on the website, making it less daunting than it would appear at first. I must add that having informed the two local real estate agents of our decision to go it alone, we have had so much positive help from one in particular. Not only did she bring a couple of clients to see the house, but has offered help and advice along the way. What a star! I'm now trying to think of a suitable gift for her to show our appreciation....suitable suggestions, anyone? Champagne? Flowers? :huh: Good luck to anyone else willing to give it a go!:D |
Re: Real Estate commission....is it negotiable?
Originally Posted by Ontheboatout
(Post 6235805)
Maybe she bought it for herself through a friend because she knew you had seriously underpriced. Why didn't she at least try to get a Fee Agreement/Customer Status Acknowledgement form signed? Very suspicious.
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Re: Real Estate commission....is it negotiable?
No, I'm serious. An agent take the time (any idea how busy an agent is?) to take her clients to a FSBO without a fee agreement? To lose a buyer to no commission? Very fishy.
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Re: Real Estate commission....is it negotiable?
Originally Posted by Ontheboatout
(Post 6235863)
No, I'm serious. An agent take the time (any idea how busy an agent is?) to take her clients to a FSBO without a fee agreement? To lose a buyer to no commission? Very fishy.
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Re: Real Estate commission....is it negotiable?
My agent took me to see a few FSBO houses. Had I bought one we would have talked about fees but she didn't expect me to sign on the dotted line first. As a buyers agent she was willing to take me to see any property I was interested in regardless of who was selling it and I would have expected no less.
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Re: Real Estate commission....is it negotiable?
Many FSBO do not entertain Realtors, whether bringing a prospective buyer or not. I would not own at least a couple of my properties had I turned up with a Realtor.
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Re: Real Estate commission....is it negotiable?
Originally Posted by destinationnovascotia
(Post 6235948)
My agent took me to see a few FSBO houses. Had I bought one we would have talked about fees but she didn't expect me to sign on the dotted line first. As a buyers agent she was willing to take me to see any property I was interested in regardless of who was selling it and I would have expected no less.
It's selling season now and properties are starting to move, but many FSBO are hanging around, some from last year. |
Re: Real Estate commission....is it negotiable?
Originally Posted by oldbag
(Post 6178731)
An update for anyone interested....
We have decided to list the house ourselves using one of the websites mentioned; I have spoken to both real estate agents this morning, thanking them for their help and explaining our decision. They were both fine.....one has offered as much help as we need.....as and when any offers are made she will go through the paperwork with us and make sure everything is hunky-dory (at no cost to her!).....how lovely is that! This is the one we would have gone to had we gone through and agent. They have also both asked if they may bring interested parties (as they have several, whch is what we suspected)....to which we have glady agreed. Obviously if someone they introduce then buys, we will pay a commission of 2.5%......GREAT! Everyone is happy. :) The cost of listing through www.bytheowner.com is $300 + GST (5%)!! |
Re: Real Estate commission....is it negotiable?
Originally Posted by Ontheboatout
(Post 6235805)
Maybe she bought it for herself through a friend because she knew you had seriously underpriced. Why didn't she at least try to get a Fee Agreement/Customer Status Acknowledgement form signed? Very suspicious.
I think you misunderstand.......or maybe I didn't explain. The real estate agent has NOT bought my house. The offer has come from a couple who drove by and saw the BytheOwner sign on the front lawn. :D What I was saying was that one of the agents in town has been very helpful and offered advice along the way, as well as bringing one or two clients to view.......neither of which, it turned out, has expressed interest because they don't like the town! What a surprise.... We had agreed to allow either or both agents to bring clients if they wished, and we were all happy with this arrangement. As to underpricing........we put it on the market at the price given us by both agents. I do seriously worry about your attitude! :blink: |
Re: Real Estate commission....is it negotiable?
Originally Posted by Paradisefound
(Post 6236151)
Great deal! Glad you worked out a satisfactory solution. :thumbsup:
Please see my reply to Outontheboat; as you have attached your reply to a much earlier post, it would appear you and he have both misunderstood. I obviously had not made this clear in yesterday's post...... ...........the offer has not come from an agent or one of her clients. ;) |
Re: Real Estate commission....is it negotiable?
Originally Posted by oldbag
(Post 6237301)
Please see my reply to Outontheboat; as you have attached your reply to a much earlier post, it would appear you and he have both misunderstood. I obviously had not made this clear in yesterday's post......
...........the offer has not come from an agent or one of her clients. ;) |
Re: Real Estate commission....is it negotiable?
Originally Posted by Elaine B.
(Post 6237319)
FWIW I thought yesterdays post was pretty clear it's also pretty clear the Ontheboatout is just looking for anyway to stir things up.:eek:
Thank you Elaine.............I thought I'd made it clear as well, and sadly I have to agree. Dog - bone are two words that spring to mind! :ohmy: |
Re: Real Estate commission....is it negotiable?
Originally Posted by Ontheboatout
(Post 6235863)
No, I'm serious. An agent take the time (any idea how busy an agent is?) to take her clients to a FSBO without a fee agreement? To lose a buyer to no commission? Very fishy.
To further explain because you obviously don't read things through properly..............there was a "fee agreement"...if the agent brought a client who subsequently bought the house a commission (mutually arrived at) would have been paid. I have already explained this in an earlier post, and will not go through it all again just for your benefit. I would suggest you hone and develop your reading skills, especially in view of your chosen profession, what with all that small print. ;) Seems to me you are just determined to start yet another argument.......either that or you're trying to be funny. :rofl: |
Re: Real Estate commission....is it negotiable?
Originally Posted by Paradisefound
(Post 6236132)
Many FSBO do not entertain Realtors, whether bringing a prospective buyer or not. I would not own at least a couple of my properties had I turned up with a Realtor.
This FSBO did entertain one of the local realtors because neither of us is beyond such pettyness.......this is a small town where it really is best to try to get along with everyone. ;) |
Re: Real Estate commission....is it negotiable?
Originally Posted by Paradisefound
(Post 6236147)
Had you bought one, you instead of the seller would have been paying the fee, unless a fee agreement had been established between the seller and your Realtor. Whilst a property not FSBO would have the seller paying all the fees.
It's selling season now and properties are starting to move, but many FSBO are hanging around, some from last year. |
Re: Real Estate commission....is it negotiable?
Originally Posted by Elaine B.
(Post 6237319)
FWIW I thought yesterdays post was pretty clear it's also pretty clear the Ontheboatout is just looking for anyway to stir things up.:eek:
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Re: Real Estate commission....is it negotiable?
I think it must be me who is not that bright. I can't follow some conversations these days. Must be night duty, I'll look again in the morning.
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Re: Real Estate commission....is it negotiable?
The last update on this thread................there is now a lovely red SOLD sticker all over the board in front of our house! It cost us $315 to sell it the FSBO way, which compared to almost $9000 if we'd gone through an agent is just fine by me and Mr Oldbag. Sorry to gloat, but I reckon it's worth at least one little one.
So c'mon all you people who want to change the system.....it's only fear that's stopping you. If we can do it this way, so can you. :D :D :D |
Re: Real Estate commission....is it negotiable?
Originally Posted by oldbag
(Post 6267326)
The last update on this thread................there is now a lovely red SOLD sticker all over the board in front of our house! It cost us $315 to sell it the FSBO way, which compared to almost $9000 if we'd gone through an agent is just fine by me and Mr Oldbag. Sorry to gloat, but I reckon it's worth at least one little one.
So c'mon all you people who want to change the system.....it's only fear that's stopping you. If we can do it this way, so can you. :D :D :D |
Re: Real Estate commission....is it negotiable?
Originally Posted by AmyDavid
(Post 6267341)
Congratulations and here are my two fingers "V" to the system! Well done you !
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Re: Real Estate commission....is it negotiable?
I'm resurrecting this thread (well, I did start it, didn't I) because I learned something yesterday which astonishes me.
If you've read this thread, and the other one on MBTTUK about selling my house the FSBO route, you'll know that's exactly what we did. Well, I was chatting with our buyers yesterday, and they told me they've been charged 2.5% commission by a real estate woman who had been looking for property for them last year! They didn't realise this woman had tied them into an agreement whereby any property they found and subsequently bought, whether it was she found or not, would carry this charge! The buyers admit they should have read right through the form, and not believed her when she said she wouldn't act upon it......well, now she is, and will rake in over $4000 for doing absolutely nothing. And before some of you come back and say she must have done something..........NO, she didn't! The buyers drove by one Sunday afternoon, saw our For Sale sign, came in, looked around and put in a offer a few days later. Oh - and apparently when our buyers challenged her about this, she said she would come to US for the money if they didn't pay up! :ohmy: I'm sorry, but I call this a disgrace.:mad: Lesson #1....don't ever EVER sign anything without reading it, even though it can be tedious! |
Re: Real Estate commission....is it negotiable?
Originally Posted by oldbag
(Post 6430416)
I'm sorry, but I call this a disgrace.:mad:
Lesson #1....don't ever EVER sign anything without reading it, even though it can be tedious! Also, every contract should have provision for termination. If it doesn't, add it in and BOTH sign the amendment. If the other person won't then tear up ... etc etc etc. Finally, there is no way on God's earth that this agent can come to you for her commission. From what you have posted you have not entered, either expressly or implicitly, into any arrangement with her that would give rise to a financial obligation. |
Re: Real Estate commission....is it negotiable?
There is no way that this person can come after you for the money, you never had a contract with her, so don't worry about that. If she tries, ask her for a copy of your contract with her, when she can't produce one, tell her you will report her to her local Real estate board for demanding payment without a contract.
There is only one way that I could anticipate her being able to come after you and that is if she is the agent who helped you out and asked if she could show her clients your house, if its the same woman and you agreed to this, and your eventual buyers were her clients, its a possibility you could be liable for the commission, but its a grey area, unless you signed a fee agreement with her in which case you could be liable. You should have been advised by the company that helped you sell your home to insert a clause in the sale contract about any agents commission being the responsibility of the Buyer. If your buyers had previously signed-up with an agent using a Buyers Agency agreement, it should have both a start and an end date, a buyers agency agreement is normally a fairly simple 1 or 2 page document, there is no excuse for them not to read it, and its sole purpose is to tie the buyer to the agent for the duration of the contract. I've said before that I don't like these agreements, but they are standard practice amongst many agents, and are used throughout North America (not just Canada). |
Re: Real Estate commission....is it negotiable?
Originally Posted by MB-Realtor
(Post 6430907)
There is no way that this person can come after you for the money, you never had a contract with her, so don't worry about that. If she tries, ask her for a copy of your contract with her, when she can't produce one, tell her you will report her to her local Real estate board for demanding payment without a contract.
There is only one way that I could anticipate her being able to come after you and that is if she is the agent who helped you out and asked if she could show her clients your house, if its the same woman and you agreed to this, and your eventual buyers were her clients, its a possibility you could be liable for the commission, but its a grey area, unless you signed a fee agreement with her in which case you could be liable. You should have been advised by the company that helped you sell your home to insert a clause in the sale contract about any agents commission being the responsibility of the Buyer. If your buyers had previously signed-up with an agent using a Buyers Agency agreement, it should have both a start and an end date, a buyers agency agreement is normally a fairly simple 1 or 2 page document, there is no excuse for them not to read it, and its sole purpose is to tie the buyer to the agent for the duration of the contract. I've said before that I don't like these agreements, but they are standard practice amongst many agents, and are used throughout North America (not just Canada). I'm not worried at all about her coming to us for commission as I know there's no way she could get it; it was just the idea of it that had me spluttering in disbelief! :ohmy: The sale of our house had no connection with any real estate agent at all! It's just the bloody cheek of the woman. In a perverse sort of way I wish she'd tried...... I'd just love to have done battle with her! It's the buyers I feel angry for, as they are going to have to pay her, and I think it's a disgraceful way to do business :curse: |
Re: Real Estate commission....is it negotiable?
Ive always managed to negotiate 4% and I have to say my friends the same, if they wont do that walk away. However there are other options......
www.privaterealestate.ca www.bytheowner.com pretty self explanatory, and theres another option I used that was ok but wasnt thrilled about, he has a few options to save you money but its only in Southern Ontario at the mo........ http://www.portcullisrealty.com/ It explains it on the site, he lists on MLS but for various fees he does none, little or a lot of work for you depending what you want. Used him once, dunno if I will again but maybe other have better things to say about him. |
Re: Real Estate commission....is it negotiable?
Originally Posted by Mikey B
(Post 6432139)
Ive always managed to negotiate 4% and I have to say my friends the same, if they wont do that walk away. However there are other options......
www.privaterealestate.ca www.bytheowner.com pretty self explanatory, and theres another option I used that was ok but wasnt thrilled about, he has a few options to save you money but its only in Southern Ontario at the mo........ http://www.portcullisrealty.com/ It explains it on the site, he lists on MLS but for various fees he does none, little or a lot of work for you depending what you want. Used him once, dunno if I will again but maybe other have better things to say about him. I don't know if you've read right through this thread, but if you do you'll see why I resurrected it. I used www.bytheowner.com which is why I was spluttering at the thought of a buyer's agent coming to ME for commission. The very idea is preposterous. What has made me so angry is that she's going to charge our buyers 2.5% commission even though she was NOT involved, in any way at all, with their purchase......I'm angry on their behalf. It just shows how you can become entrapped by these people. :curse: |
Re: Real Estate commission....is it negotiable?
Theres nothing to stop buying a Holiday home, and visiting it on a regular basis.
But generally they expect you to be out of the country for extended periods (days/weeks/months) in between visits. The USA is quite happy for Canadians to own property down south and to spend several months there each year over the winter, but expect them to go home for the spring and summer. |
Re: Real Estate commission....is it negotiable?
Hi Old Bag,
Sorry no didnt read it all at 13 pages long work got in the way - damn work!! haha. Yeah I heard some folks having that issue with private sites. Give Portcullis a try they do different packages but one we went for was $2500 up front and a 1.75% fee to the buying agent, that was it, for his $2500 up front he takes pics, puts on MLS and does open houses, not exactly the most active agent Ive ever had (after all he getting $2500 instead of $15-20k, our house sold for almost 400k). He also does a package just listing on MLS and virtually nothing else for $995, in the Burl/Oak area lots of people have used him, like I say its ok and saved us in the end over $10k but he is like a 2nd hand car salesman if you know what I mean ;) Dunno what part of ON you are but take a gander |
Re: Real Estate commission....is it negotiable?
Originally Posted by Mikey B
(Post 6435569)
Hi Old Bag,
Sorry no didnt read it all at 13 pages long work got in the way - damn work!! haha. Yeah I heard some folks having that issue with private sites. Give Portcullis a try they do different packages but one we went for was $2500 up front and a 1.75% fee to the buying agent, that was it, for his $2500 up front he takes pics, puts on MLS and does open houses, not exactly the most active agent Ive ever had (after all he getting $2500 instead of $15-20k, our house sold for almost 400k). He also does a package just listing on MLS and virtually nothing else for $995, in the Burl/Oak area lots of people have used him, like I say its ok and saved us in the end over $10k but he is like a 2nd hand car salesman if you know what I mean ;) Dunno what part of ON you are but take a gander Others on this forum might benefit from that info though, so good on ya for sharing :thumbup: |
Re: Real Estate commission....is it negotiable?
Originally Posted by Mikey B
(Post 6435569)
Hi Old Bag,
Sorry no didnt read it all at 13 pages long work got in the way - damn work!! haha. Yeah I heard some folks having that issue with private sites. Give Portcullis a try they do different packages but one we went for was $2500 up front and a 1.75% fee to the buying agent, that was it, for his $2500 up front he takes pics, puts on MLS and does open houses, not exactly the most active agent Ive ever had (after all he getting $2500 instead of $15-20k, our house sold for almost 400k). He also does a package just listing on MLS and virtually nothing else for $995, in the Burl/Oak area lots of people have used him, like I say its ok and saved us in the end over $10k but he is like a 2nd hand car salesman if you know what I mean ;) Dunno what part of ON you are but take a gander |
Re: Real Estate commission....is it negotiable?
Sorry My bad! Im going senile in my 30's!!
And yeah I agree private selling is the way of the future saves loads more - prob is at the mo doesnt get you on MLS like that portcullis guy and most canadians seem fixated with MLS or at least in my opinion. If ur not in a rush to sell then by the owner or private real estate defo the way to go. Just gimmie a slap next time if I dont catch on quick enough ;) |
Re: Real Estate commission....is it negotiable?
Originally Posted by Mikey B
(Post 6437227)
Sorry My bad! Im going senile in my 30's!!
And yeah I agree private selling is the way of the future saves loads more - prob is at the mo doesnt get you on MLS like that portcullis guy and most canadians seem fixated with MLS or at least in my opinion. If ur not in a rush to sell then by the owner or private real estate defo the way to go. Just gimmie a slap next time if I dont catch on quick enough ;) |
Re: Real Estate commission....is it negotiable?
Ahh my karma cherry has gone
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Re: Real Estate commission....is it negotiable?
Originally Posted by oldbag
(Post 6437502)
Just slapped some karma on you.......:D
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Re: Real Estate commission....is it negotiable?
If it gets me karma Ill own up to anything! :)
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