I have some farm land, about 13 hectare with water about 15 minutes out of POP near the las canas turn off. What is a typical comission for a realator (if I let them do the advertising etc)?
-Lee
-Lee
- Thread starter ltsnyder
- Start date
What is a typical commision for a realator?
Its a uncontrolled market.
Some dare to ask for an outrages 10 percent.Others will do it for 5
or anything in-between. Its a question how you negotiate.
The higher charging broker is not necessarily the better broker .
Luckely there is now more competition and more reasonable rates are charged by a few.
A thing to be careful in your listing contract
don't give exclusivity at all or for long.
Check also what happens to the downpayment on a closed deal
which was subsequently canceled.
It has been known here that the broker keeps the downpayment
all to themselves.
Some dare to ask for an outrages 10 percent.Others will do it for 5
or anything in-between. Its a question how you negotiate.
The higher charging broker is not necessarily the better broker .
Luckely there is now more competition and more reasonable rates are charged by a few.
A thing to be careful in your listing contract
don't give exclusivity at all or for long.
Check also what happens to the downpayment on a closed deal
which was subsequently canceled.
It has been known here that the broker keeps the downpayment
all to themselves.
Realtors in the DR
Are they licensed as in the US? Since commisions are apparently up for debate are the realtors licensed people? I am considering being a Realtor since the experience I am having here with my sorry one..Send her many buyers who even transferred jobs to this area for my place for her to run them off...Go figure.... Any realtor info would be great! Thanks!
Pam
Are they licensed as in the US? Since commisions are apparently up for debate are the realtors licensed people? I am considering being a Realtor since the experience I am having here with my sorry one..Send her many buyers who even transferred jobs to this area for my place for her to run them off...Go figure.... Any realtor info would be great! Thanks!
PamReal Estate.
No they are not.
You want to start , just let people know you are in business.
If you bring some ethics to this business I think people will
receive you with open arms. and work with you.
Everything is for sale here. The person that brings the buyer wins
Regardless what company the others belong to.
Talking about ethics , Just recently a guy I met put a bid in for a house he wanted to buy through his broker.
The bid was not accepted as another person bid a little higher.
Guess who the other person was.
That guys broker.he bought it for himself.
Which was easy he knew the low bid.
The broker had not disclosed any interest he had to his client.
In fact the client had no idea what went on there.
until he learned the details during a party.
No they are not.
You want to start , just let people know you are in business.
If you bring some ethics to this business I think people will
receive you with open arms. and work with you.
Everything is for sale here. The person that brings the buyer wins
Regardless what company the others belong to.
Talking about ethics , Just recently a guy I met put a bid in for a house he wanted to buy through his broker.
The bid was not accepted as another person bid a little higher.
Guess who the other person was.
That guys broker.he bought it for himself.
Which was easy he knew the low bid.
The broker had not disclosed any interest he had to his client.
In fact the client had no idea what went on there.
until he learned the details during a party.
Realtors should have some morals...
My realtor said "Go ahead put ads it will only help" I put ads all over the internet in all local papers etc. I spoke to about 20-30 people in two weeks who were very interested. (1 from Tenn drove over night to see it, 1 from PA, and several others who came all teh way to see it) I would answer as many questions as I could, send them photos etc. THen they would say OK give us your realtors info and they would disappear like the plague was coming! FRIDAY I was called by a woman in Maine who told me my realtor discouraged them from buying "Way far out" Neighbors yards have wrecked cars etc" Niether of those statements are even true! She would have to put a new home on the land..My home is 4 years old..SHE WANTED TO HELP ME OUT ABOUT THE REALTORS BAD WAYS! I sent her photos of my neighbors home after that and she sent me two emails telling me the horrible way my realtor acted about my place..I forwarded that to her boss and told him I want out of the contract or Monday I go to my attorney..Which I am doing tomorrow anyway. THe lady in Maine had her husband transfer his job to my area already, got her horses ready for the trip medically etc and everything..The realtor blew it on purpose for me. THAT is why I would want to be a realtor. I always have had an interest but just too busy with the kids to try it. I think I will when I get to the DR. Thanks for the info. IF I EVER SELL MY PLACE..I will be in the DR soon. Pam
My realtor said "Go ahead put ads it will only help" I put ads all over the internet in all local papers etc. I spoke to about 20-30 people in two weeks who were very interested. (1 from Tenn drove over night to see it, 1 from PA, and several others who came all teh way to see it) I would answer as many questions as I could, send them photos etc. THen they would say OK give us your realtors info and they would disappear like the plague was coming! FRIDAY I was called by a woman in Maine who told me my realtor discouraged them from buying "Way far out" Neighbors yards have wrecked cars etc" Niether of those statements are even true! She would have to put a new home on the land..My home is 4 years old..SHE WANTED TO HELP ME OUT ABOUT THE REALTORS BAD WAYS! I sent her photos of my neighbors home after that and she sent me two emails telling me the horrible way my realtor acted about my place..I forwarded that to her boss and told him I want out of the contract or Monday I go to my attorney..Which I am doing tomorrow anyway. THe lady in Maine had her husband transfer his job to my area already, got her horses ready for the trip medically etc and everything..The realtor blew it on purpose for me. THAT is why I would want to be a realtor. I always have had an interest but just too busy with the kids to try it. I think I will when I get to the DR. Thanks for the info. IF I EVER SELL MY PLACE..I will be in the DR soon.
Pam
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In reality there is no control or legislative rules for what Realtors charge for their services here in the DR. 7% cost to the seller seems to be about the norm but compared with the service you get in Europe for instance, and at 1-1.5% fee only, there's no comparison!
How many people here in the DR know a decent Rea Estate agent who knows anything about valuations of properties for sale and can put a fair value on a property?
Jump in Paul - I know you have feelings about this one????
How many people here in the DR know a decent Rea Estate agent who knows anything about valuations of properties for sale and can put a fair value on a property?
Jump in Paul - I know you have feelings about this one????
Quality of your agent and his fees
I sure do. I think their fees are mostly outrages. on top of that
they are in US$ , So suddenly over the last 6 months
they doubled their income.
Their cost has surely not doubled and the quality of their professionalism has not improved.
Eddy mentioned that 10 % was reasonable on a us$ 30 000 deal
we talk here about a fee of US $ 3000 , that's more then 4000 Canadian dollars.
Let him please verify that with his Canadian contacts if any body
would find that reasonable.
For his info fees in Canada have been inching downwards to sometime below 3 percent.
But atleast you get a professional, unlike here where as mentioned earlier your agent might be competing with you on the same house.
I sure do. I think their fees are mostly outrages. on top of that
they are in US$ , So suddenly over the last 6 months
they doubled their income.
Their cost has surely not doubled and the quality of their professionalism has not improved.
Eddy mentioned that 10 % was reasonable on a us$ 30 000 deal
we talk here about a fee of US $ 3000 , that's more then 4000 Canadian dollars.
Let him please verify that with his Canadian contacts if any body
would find that reasonable.
For his info fees in Canada have been inching downwards to sometime below 3 percent.
But atleast you get a professional, unlike here where as mentioned earlier your agent might be competing with you on the same house.
In Ontario real estate commissions are suppose to be negotiable. There isn't such for 30,000 dollars and that would certainly be at least 10%. No one is going to take a listing up in timbucktu and spend a fortune in advertising.
Here in Guelph most charge 5 to 6%. Only one company charges 3 1/2 & but they pay 2% to the selling agent. Don't forget how many people get to split the money before the actual selling salesperson gets his bit.
Sorry to hijack but Canada did come up.
Here in Guelph most charge 5 to 6%. Only one company charges 3 1/2 & but they pay 2% to the selling agent. Don't forget how many people get to split the money before the actual selling salesperson gets his bit.
Sorry to hijack but Canada did come up.
Not really sure how it works in DR, I know that Notary Public deal with real estate and they are usually lawyers. Not sure how valuations work, etc...
For Goatfarmnga: if you want to sell without a realtor's commission (you just have to pay the buyer's commission, in NY it's around 2.5% - 3.00 %) you should look at getonmls.com. For a $495 fee you get your property listed on the MLS, it gets national exposure and you cut out the realtor that isn't doing you any good.
I've used it and am very happy with the results.
For Goatfarmnga: if you want to sell without a realtor's commission (you just have to pay the buyer's commission, in NY it's around 2.5% - 3.00 %) you should look at getonmls.com. For a $495 fee you get your property listed on the MLS, it gets national exposure and you cut out the realtor that isn't doing you any good.
I've used it and am very happy with the results.