A Realtor
Question To Ask A Realtor
-
Will you put in writing that you
will sell the house and close the sale to the new buyers loan before the house goes to
Foreclosure and sale on the courthouse steps?
-
If I find someone on my own who
wants to buy the house, do I still have to pay you a commission?
NOTE: Realtors typically have you
sign a contract that forces you to pay them a commission of 5% - 6%, even if you sell
the house on your own when they couldn’t sell the house.
-
Do I still have to pay for all of
your commission out of my pocket if it doesn’t sell for enough to cover the lender
obligations? NOTE: In the contracts
Realtors use, they are going to make sure that they get paid at closing. That sometimes
means that the seller is required to pay out of pocket with cash to satisfy the
realtor’s commissions listed in the contract.
-
What happens if you don’t sell the
house? Will I lose it to Foreclosure at the court house steps?
NOTE: There is nothing the realtor
has to lose if they don’t sell your house. If it doesn’t sell it will not stop the
foreclosure. All the Realtor has to lose is a chance to earn their commission for
selling the house.
-
When you list the price of the
house are you only going to sell it at a price that will give you a full
commission?
-
How long will the house be tied up in your
listing contract and entitle you to a commission? NOTE: Typically, a Realtor has you
sign a six (6) month exclusive contract.
-
Can I cancel the listing at any
time?
Our Experience has been...
Realtors are in business
predominately for one thing
'A COMMISSION'.
The higher the sale
price,
the bigger the
commission.
Realtors have a
tendency
to encourage you
to list at a price that
reflects last years market pricing,
this will never sell in
today's market.
The majority of
Realtors
(even the ones who claim to
know)
don't truly understand the
dynamics of a short sale
and usually can't get the job
done
without the help of an
attorney,
and guess who pays the
attorney?
Their fee may not come out of
your pocket up front,
but they will get
paid
if and when the home
sells...
By pushing a few preset
buttons on the MLS
,
a realtor can generate
a CMA (Current Market Analysis),
they will do this for you for
free
to show you the value of your
home
to get you to sign with
them.
However,
our experience has
been
that the majority of
realtors
hand pick the
comparables
to include in the
CMA
and don't really know
how
to properly evaluate the
market,
thus showing you
an incorrect value of your
property.
Who wins here...again?
There are some good realtors
out there,
and there are bad
ones.
Once you have signed an
exclusive contract
for six (6) months at too
high of a price,
you have
lost.
BE CAREFUL WHO YOU SIGN
WITH!
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