Real Estate Commissions - First Development
If you remember from a previous post, we were marketing the property ourselves. We wanted the sales team at the development to represent the property. However, they wouldn’t budge from the 6% sales commission. On a multi-million property, this was a significant amount of money. In addition, they didn’t really have any marketing plan whatsoever other than show the place to drive in traffic. We thought we could do much better with our own marketing plan and also save the commission. Unfortunately although we had some response, we were still not satisfied.
My partner’s wife decided to get her own real estate license. We would benefit in a number of ways:
- The real estate commission would be split if she represented us.
- The sales team at the development would be obligated to show the property once it was listed with another agent.
- The property would now be included in the Multiple Listing Service
My partner found a semi-retired broker in charge, formed a LLC and we were in business. No more 6% commissions. Again we still needed to sell the place, but at least we didn’t feel as if we were being taken advantage.
I think that it is great that you would go out there and do that for yourselves. I think that is a smart thing to do. I have been looking to see what I can find, property wise and I have found a website that has been incredibly helpful to myself and it seems like it could be helpful to you or anyone looking for Sarasota homes. It shows all the homes for sale in the area and lists every property, plus it is really easy to use.
Thanks for the comment. Hopefully you come back and visit.
Thanks for the post. Hopefully you make it back.
Thanks for comment.i wish you come back
Boise real estate