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Q: Selling house ( Answered 5 out of 5 stars,   1 Comment )
Question  
Subject: Selling house
Category: Miscellaneous
Asked by: nadasif-ga
List Price: $5.00
Posted: 24 Aug 2003 15:29 PDT
Expires: 23 Sep 2003 15:29 PDT
Question ID: 248293
What should a realtor charge me if I want to sell my house for
$339,900? I live in Deer Park, NY (Suffolk county).
Answer  
Subject: Re: Selling house
Answered By: beckybob-ga on 24 Aug 2003 16:23 PDT
Rated:5 out of 5 stars
 
I am actually selling my house right now, and I have decided it is in
my best interest to hire an established Realtor to help me with all of
the complexities of selling.

The standard commission charged by Realtors is six percent, in North
Carolina and in New York State, and in fact pretty much everywhere.
Your expected costs amount to $20,394.00.

You should expect to pay that much if you use a large, established
Real Estate firm because they are less likely to negotiate fees. If
you, like me, are concerned about advertising, marketing, screening
buyers, checking prices of nearby properties, advice on what must be
repaired and what can be left "as is," advice on how to show the house
and even what closing costs to expect, then you will find the fee well
worth the service rendered.

You can find discount services, and even no fee services, but I did
not choose to go that way. A Google search on "Realtor Commissions New
York" will give you a list of options to consider.

Good luck. I hope you get the price you want and the advice you need.

Bob
nadasif-ga rated this answer:5 out of 5 stars
Thanks so much for the info you have provided. A search on Google lead
me to http://houseexpress.com/ where I found that I can save atleast
$7000

Comments  
Subject: Re: Selling house
From: imagine-ga on 24 Aug 2003 22:03 PDT
 
Most real estate commissions are divided between the listing broker
(the broker you sign the contract with) and the selling broker (the
broker who actually brings in the buyer). A 6% commission would
typically be split with 3% going to the listing broker and 3% going to
the selling broker.

These components of the commission may be individually negotiable. If
a seller wishes to negotiate the commission, it is probably in their
best interest to reduce the listing commission before they reduce the
selling commission, since a reduced selling commission may reduce the
number of buyers who are exposed to the property (the selling
commission is generally noted in the Multiple Listing Service, and a
low selling commission may discourage some real estate agents from
showing the property).

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