Generally under $100,000 is 7% for a multiple listing that goes out to all other realtors and 6% for an exclusive listing. It is negotiable though. Interview a few realtors instead of just going with the first one and MAKE SURE to get what you negotiated in writing. Realtors in general have a reputation similar to lawyers. There's some real good ones but a lot of bad ones.
I had bad experiences with 2 realtors who were supposed to be really good. The first one said she would multiple list my properties for 6%. The total price for both properties was a little over $100,000. When I got a copy of the real estate weekly that's in the newspaper, my properties weren't listed. I asked the realtor and she said that's only for multiple listings. I said I went with her because she was going to multiple list for 1% less than another realtor I liked. Then she tells me the agency she works for has a policy of not multiple listing for less than 7% and she was trying to save me money. What a LIAR! She told me 6% so I would go with her. I should have recorded the first meeeting. The realtor I went with the next time wasn't much better. She said she'd take back up offers because it was a prime location. When there was a big problem with the first potential buyer and I could have backed out, I asked about back up offers and she said she didn't think she needed any. There was at least 6 other people/realtors very interested in the property. I eneded up selling to the first offer but made the realtor take $1500 off her commission. If there would have been back up offers I could have made more money. The buyers were late with the down payment so I had every right to cancel the deal and I would have if there had been back up offers. Number 1 rule, don't trust realtors! Also, NEVER EVER let the your realtor act on behalf of the buyer, NEVER! They won't have YOUR best interests in mind. They'll want to get a sale and try to convince you to sell at a lower price while telling the buyer not to offer more because you're motivated. Also best to not use the same lawyer. I had 1 lot sell with the same lawyer but it was a real straight forward deal and the buyer and myself just needed the official paper work done to complete the deal.
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Today's Featured Article - A Question for Dads This recent topic from the Tractor Talk discussion board is being highlighted because it is an awesome display of the caliber of individuals that have made this site their own. The young person asking questions received positive feedback and advice from total strangers who "told it like it is" with the care many reserve for their own kids. The advice is timeless... so although it isn't necessarily antique tractor related, it will be prominently displayed in our archives to honor those who have the courage to ask and those who have the courage to respond in an honest, positive manner.
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