Which way is the best?
Sunday, June 6th, 2010 at
7:42 pm
My sister is the legal guardian of my mother and needs to sell her house so she can use the money to fund my mother’s expenses of living in a retirement home. She is using this real-estate agency: www.assist2sell.com to sell my mother’s house. Would you recommend using this type of agency which charges a flat-fee for selling houses? If they charge a flat-fee then they will not have the incentive to try to get the most money for the house because they get the same amount of money no matter what it is sold for to others? I think using a real-estate agency that gets a percent of the selling price would be the best way to go about it. They will try to get the most for the house because the more they sell it for then the more they make. The assist2sell incentive would be to sell it as quick as possible at a lower price so they can collect their money and be done with putting time and effort into selling it. They don’t care about getting a good price for the house. Which is the best way to go?
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Tagged with: Agency Www • Amount Of Money • Retirement Home
Filed under: flat sale
Why dont you and your sister trying selling it yourselves, and that way no one is paid anything? You get to keep any monies yourself.
the best way is goods way
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It seems to make sense to use a low cost, flat fee estate agent. Simple arithmetic says paying the low flat fee saves you money.
But especially in this market, you’re going to want the best chance of selling, not just the cheapest cost for selling. Saving a potential few thousand dollars on the commission is pointless if the result is that you don’t sell at all.
So here is the issue: with the flat fee brokers, a buyers agent also has a lower commission coming. The result is that they will often refuse to even show discount broker listings. The sellers agents also have limited incentive or funds for advertising. The net result of THAT is that you get many fewer potential buyers, and it will take much longer to sell the house.
So if she wants to sell the house in the most expeditious way, she is better with a standard percentage based agent.
And NO, I am not an agent. I’ve tried both type of agent, in buying and selling, and so far, I haven’t seen a low cost agent worth the money.