Pay Less Real Estate Commission

Yes, you can pay less real estate commission on the sale of your home. Regardless of which state you live in, all real estate commissions are negotiable. Real estate agents prefer you to pay the "standard" fee of 7%, but times are different.

This latest recession/depression has put a big hurt on real estate agents and brokers. With home sales down many agents are not selling as much as they used to. Life on easy street has changed for many of them.

How much does an agent make on a sale?

A typical listing agent will split the real estate commission 50% with the selling agent. So, on a $200,000 home the "standard" commission of 7% would be $14,000. So, your listing agent gets half, or $7,000. Now the listing agent doesn't get to keep this full amount unless they're also the broker. Often, the agent and broker will split 50/50, or each getting $3,500. Many agents will sell one house a week. That's $182,000 a year! Now, if they both list and sell your house they make double. Not bad for a little bit of work, huh? dallas homes for sale

How do you find an agent that will negotiate?

First, look for agents at smaller real estate companies, or even better yet, independent owner/brokers. They're much more likely to reduce their fees. Also, agents at the bigger real estate companies will be under more pressure from their brokers not reduce their commissions.

Start making a list from the internet or yellow pages of all the local real estate agents in the area. Then get on the phone and ask them a few questions, such as:

"How long have you been selling real estate?" "How many houses do you sell a year?" "What is the average length of time it takes you to sell a home in my neighborhood?"

By asking these questions, you're letting the agent know that you're qualifying them over the phone, and that you're in charge. dallas homes for sale

Next, ask if their real estate commission is negotiable. If they respond with a "no", thank them for their time and move on to the next call. Don't waste your time or theirs arguing.

If their response is a "yes" or a "maybe", let them know you'll be conducting face-to-face interviews in the next week. Get their cell phone number, so you'll be able to reach them easily.

When you've finished your list set up appointments with the ones you feel most comfortable with. Give them your address, so they can present a marketing plan for your property. Also, let them know you expect them to submit their best offer as far as a commission is concerned.

When you meet with the agents do not sign a contract or make a commitment on the spot. Many agents will try to "close the sale" and walk away with a listing. Tell them you haven't finished interviewing all the agents and you'll get back to them. Be honest with them if someone else is offering a lower commission rate.

It's ok to go back and forth negotiating with agents on a commission rate. They're used to negotiating, just not with their inflated commissions! dallas homes for sale

Choose the agent who you feel has a reasonable real estate commission, and one who will do the best job of selling your property for the most money. Good luck!

Foreclosure Homes - Preventing Such Unfortunate Fate

As a homeowner, the worst thing that could happen to your house is for it to become one of the many foreclosure homes for sale in the market today. Although there are unforseen circumstances that could cause you to lose your home, it would not hurt to be prepared. dallas homes for sale

Avoiding foreclosure altogether is actually simple if you know what to do. Consider the following:

Sorting Out Finances

A sure-fire way of preventing foreclosure is to make sure that you are managing your finances well. For starters, you should always prioritize your mortgage payments and make sure that you are aware of any increases or adjustments in your mortgage dues. Check the terms of your mortgage loan agreement in order to avoid being surprised.

If you are unsure, talk to your mortgage lender. If you also think that there will be changes in your financial situation, inform your lender at once so that you can ask for the loan terms to be modified.

In addition, you should make sure that all your records, particularly your mortgage payment receipts are in order. It will serve as proof of your reliability and responsibility when you are speaking with your lender regarding a possible loan modification. dallas homes for sale

Ask for Help

Having a problem with your mortgage obligations is not something that you should ignore. If you have done everything you can do to prevent foreclosure but still faces it, maybe it is time that you seek help. You might want to ask your family, friends, financial institutions or even the government for assistance. There are currently foreclosure prevention programs which you can take advantage of. All you have to do is to admit that you are in over your head and need help.

If worse comes to worst, you can always choose to sell your home. You could easily find a buyer especialy since foreclosure homes are quite hot right now. You may not to get to keep your home, but you get to maintain a good credit history.