Posts Tagged ‘listing your home’

Thinking of Selling Your Home? Get a Market Snapshot of Your Neighborhood!

Wednesday, September 29th, 2010

Want to see what your neighbor’s homes are listed at? Selling for?  Input your email and home address of the neighborhood you are interested in and get an at a glance report of what homes are  listed for sale, what’s sold, etc. You also receive a Market Snapshot Report every month ongoing!  (Click on the link you just passed up). It’s quick and easy! When you are ready to sell your home give me a call! -Kristie McDonald, Your Realtor

Home Sellers! Know what percentage your listing agent is offering buyer agents!

Wednesday, August 12th, 2009

6Just to get up to speed on this particular post, commissions for Realtors are paid by home sellers.  A listing agent and seller come to agreement on a total percentage to sell a home.  The listing agent then in turn offers a percentage of that, usually around 2.5% – 3% to whichever ”buyer agent” brings the buyer that purchases the home.  This percentage is referred to as BAC or a “Buyers Agent Commission”. The BAC is noted in every listing in RMLS for all agents to see but the information is not shown publicly.

Why do you need to know?  If the average BAC is 2.5% and your listing agent is offering 1.5%, the attraction of agents to your home is minimal.  Why? Because by the time the brokerage firm takes their cut, uncle Sam his, and all the other expenses I won’t detail here, a 1.5% is not going to compete with those that are higher.  I’d say 75% of agents at listing appointments fail to discuss this and in fact are counting on a seller not asking. Currently RMLS listing forms do not require a listing agent to disclose this to a seller. (we are pushing for a change but it will not likely happen anytime soon).

Now that that is out of the way, years ago I remember hearing an agent say she wouldn’t show homes offering less than a 2.5% BAC which is a very common BAC, I personally thought and still think that was unethical, if your buyer likes and wants that home you should show it no matter the BAC however there are a LOT of agents out there like her that wouldn’t show that particular home because of how little they would get paid to sell it, and admittedly when we see BAC’s under 2.5% we cringe too. However our buyers don’t need to know that, they just need to know if they like the home and want to see it; we will show it.