Negotiating Real Estate Agent Fees
As a house flipper a lot of your profit goes into real estate agent fees. Finding a good real agent is a huge advantage in this business for several reasons. First you want an agent that is constantly building relationships. These relationships should be with buyers, sellers, other agents/brokers, investors, etc. They should be full time real estate agents and willing to work for a lower commission. Any agent that specializes in working with real estate investors will negotiate their commission. Many of them are offering 3 percent to investors and I’ve even come across a few that offer the same to any seller, although I doubt that the latter will last after the market rebounds.
According to Consumer Reports a recent survey showed that 71 percent of sellers were successful at getting real estate agents to accept less. The report also showed that the quality of service did not dip either. Sellers who paid commission rates of 3 percent or lower were just as satisfied with their broker’s performance as those who paid 6 percent or more, the report noted.
The current real estate market may be great for buyers but there are a few precious benefits to smart sellers as well.
