Selling costs QLD

[Success]

Thanks for everyone's reply here.

So ... agent has come back to me asking for a fair price. In other words ... ball has been put back in my court to nominate deal.

I read once that the person who mentions/ nominates first price in ANY negotiaton is the person who losses out.

Anyone willing to suggest ideas here ?

 

[Success]

Anyone out there ?

 

[cu@thetop]

Ask the agent to provide a Comparitive Market Analysis (CMA) which will tell what they think it is worth.

 

[Success]

What I am asking is negotiation on a reduced COMMISSION fee for selling ... not how much the home is worth ...

Surely we must have a member here who has sold a property in QLD recently and negotiated sale commission ? or am I losing it ?

 

[Fudge]

What I am asking is negotiation on a reduced COMMISSION fee for selling ... not how much the home is worth ...

Surely we must have a member here who has sold a property in QLD recently and negotiated sale commission ? or am I losing it ?

Well, ask them if you can match (or a bit higher) than Go Geko commisions.

That should sort them out.

F

 

[wylie]

If you want a sale for a cheaper commission, why not choose Go Gecko?

We have never asked for commission to be reduced, but I'm sure others have.

One sale my parents made about 22 years ago was close and they were negotiating, but decided to stick to their guns when it got to a price they were not prepared to reduce any more. To bring the deal together, the agent volunteered to accept a lower commission, basically making up the shortfall in funds with his commission.

I don't know how often this would be asked, or given.

 

[urban cowboy]

i've reduced once or twice - but generally don't...just don't need to - there is enough work out there to not have to take a commission hit. Saying that, many agents will negotiate - some will do a flat 2% and there are a bucket load of others advertising 1.5% at the moment...saying that they are also going fairly hungry and some are closing doors!

short answer is you can always negotiate (or try), but if you go for the good agents or the big name ones expect to get told they won't accept less than full fee.

 

[cu@thetop]

What I am asking is negotiation on a reduced COMMISSION fee for selling ... not how much the home is worth ...

Surely we must have a member here who has sold a property in QLD recently and negotiated sale commission ? or am I losing it ?

Sorry mate- I focussed on where you stood to lose the most money- agent asking you what your house is worth?!?

The percentages of commission are as quoted but are negotiable. The more important issue is to nail down market value of your property and get the agent working with you- not asking for a price you will be satisfied with.

 

[BPB]

I have a theory and it has worked well for 10 years in Real Estate.
If an agent is willing to negotiate the commission away just to get the business then they are prepared to give in to a lower price on the property. You see, in business you need Gross profit to keep the doors open and when you "give that" away you are no longer a professional.
I believe our skills as a professional can bring in much more than a few thousand $$ saved if you are a master negotiator. Most agents are not. Whats the point of saving $2k when a good agent could lift the final price by $6k - $10k?
When did you last ask you solicitor for a discount and he gave it to you?
When did you ask your Doctor for a discount and he gave it to you?
When did you ask your Dentist for a discount and he gave it to you?
So why is it that you ask a Real Estate agent and he gives it away - because he does not value his service and neither does the Investor.
We negotiate tough for the Investor and have a repeat rate of business of 72%.
The worst clients I have had over 10 years in business is the Investor who wants to beat you down in commissions because they have no respect for good agents (and they are out there) and the buyer who wants to view properties on Sunday.
You only get what you pay for in this world and if the fees are discounted or an open listing, you will get what you pay for - a limited service.
Go Gecko and other agencies are like JetStar and Qantas. One is dearer but more realiable in service to the Investor.
Good agents also provide a service guarantee as we do.

 

[BPB]

PS - just another tip.......it really helps if your agent is Investor savvy and understand Depreciation, IRR and can talk the "Investor language". Our clients find that really helps.

 

[Marko Legija]

I have a theory and it has worked well for 10 years in Real Estate.
If an agent is willing to negotiate the commission away just to get the business then they are prepared to give in to a lower price on the property. You see, in business you need Gross profit to keep the doors open and when you "give that" away you are no longer a professional.
I believe our skills as a professional can bring in much more than a few thousand $$ saved if you are a master negotiator. Most agents are not. Whats the point of saving $2k when a good agent could lift the final price by $6k - $10k?
When did you last ask you solicitor for a discount and he gave it to you?
When did you ask your Doctor for a discount and he gave it to you?
When did you ask your Dentist for a discount and he gave it to you?
So why is it that you ask a Real Estate agent and he gives it away - because he does not value his service and neither does the Investor.
We negotiate tough for the Investor and have a repeat rate of business of 72%.
The worst clients I have had over 10 years in business is the Investor who wants to beat you down in commissions because they have no respect for good agents (and they are out there) and the buyer who wants to view properties on Sunday.
You only get what you pay for in this world and if the fees are discounted or an open listing, you will get what you pay for - a limited service.
Go Gecko and other agencies are like JetStar and Qantas. One is dearer but more realiable in service to the Investor.
Good agents also provide a service guarantee as we do.

Real estate agents? professionals? who are you trying to kid here?

 

[Marko Legija]

PS - just another tip.......it really helps if your agent is Investor savvy and understand Depreciation, IRR and can talk the "Investor language". Our clients find that really helps.

Real estate agents shouldnt be giving out tax and financial advice, they are not qualified to do so.

 

[tarah]

Hi Success,

I have signed up with Advantage One in Hervey Bay after trying to negotiate the commission numerous times with different agents in the area to no avail. The agent I signed with seems to be very good. He said he won't reduce his fee and commission but we can negotiate when I know what price he gets for me.

Have you decided anything yet?