20% comission on real estate?

[Itsahobby]

My wifes Uncle is selling a house and the real estate agent is hitting them up for 20%. Seems pretty excessive, this is in Nor Cal.
What do you think?
Hobby

[Baja Big Dog]

My wifes Uncle is selling a house and the real estate agent is hitting them up for 20%. Seems pretty excessive, this is in Nor Cal.
What do you think?
Hobby
ID tell her to change her crack dealer, the price hasnt gone up for crack...

[cdog]

Is it a $30,000 house? :) Need more details. He agreed to the contract when he listed the property. Maybe he should read what he's signing.

[RaceFace]

They need a new realtor. From my experience, seller pays a total of 6%. 3% to the listing agent and 3% to the buyer's agent.

[Itsahobby]

The house is going on the market for $680000. I hope she heard her uncle wrong. If so, they're getting ripped off.
Is it a $30,000 house? :) Need more details. He agreed to the contract when he listed the property. Maybe he should read what he's signing.

[al cole'holic]

My wifes Uncle is selling a house and the real estate agent is hitting them up for 20%. Seems pretty excessive, this is in Nor Cal.
What do you think?
Hobby
..wow, that is extremely unheard of?? 10% was the highest we have done on huge parcels of land and a couple of commercial items...who is the broker, Duey, Screwem, & Howe?? Maybe it was 2% for themselves, if so that is a discount...

[cdog]

The house is going on the market for $680000. I hope she heard her uncle wrong. If so, they getting ripped off.
Ya, that's nuts. Are they elderly? Where they taken advantage of because of their age? You may need to help them out if so. I'd immediately put the listing on hold. Set up a meeting with the Broker and discuss canceling the listing ASAP! You can't trust a jack ass like that or a Broker who would employ a jack ass. I can send you a Remax referral in the area if you need help. PM me if your interested. 7% is about the max you would normally see these days.
BTW...Cool Dog.

[Itsahobby]

Nope, not elderly. It's his mom's house, wife's grandmother, that past away last year. I don't think there is a real rush to sell, either.
I really hope that this is some kind of misinformation for his sake.
Ya, that's nuts. Are they elderly? Where they taken advantage of because of their age? You may need to help them out if so. I'd immediately put the listing on hold. Set up a meeting with the Broker and discuss canceling the listing ASAP! You can't trust a jack ass like that or a Broker who would employ a jack ass. I can send you a Remax referral in the area if you need help. PM me if your interested. 7% is about the max you would normally see these days.
BTW...Cool Dog.
Your's too. Wienmeir?(SP)
She's a Wire hair Griffon. Great dog I rescued.

[Wmc]

Tell the real estate agent to pound sand!! Sounds very desperate. Your fired!

[Cole Trickle]

Nothing like making 200K selling a house:D:idea: :sqeyes:
I would tell them to kick rocks and find someone in the area of 4.5-6%

[909punk]

I'll give him a deal.. I'll only charge 12% :D
wow.. that is nuts!

[deltarat]

Where in Nor Cal is the house? My wife might be able to help you guys out. PM me a number and I will have her get in touch with you.

[SummitKarl]

My wifes Uncle is selling a house and the real estate agent is hitting them up for 20%. Seems pretty excessive, this is in Nor Cal.
What do you think?
Hobby
in this market offer 5%....2% listing...3% selling, (fair in my eyes) if someone slipped 20% in the contract I would be loading my gun:D, if the contract said 20% and I signed it...I would still be loading my gun:D

[fatboy95]

My wifes Uncle is selling a house and the real estate agent is hitting them up for 20%. Seems pretty excessive, this is in Nor Cal.
What do you think?
Hobby
Post his name I'll send Guido and Nunzio to pay him a visit. 6% is the customary rate and that is negotiable. Sounds like a scam.

[scarabrick2]

You can fire them at any time. cancel the listing and relist with another agent. send a letter the there broker and report them to the real estate board. They love people like that.

[FREIND OF AA AND TA]

Shiat I would have a Skater and a yacht if I made 20%. At 680 the commission should be 6%. Mabe they are doing creative financing or trying to get cash to fix it up. I have seen crazier crap. Get the whole story.

[Itsahobby]

Thanks you all for your input. I'm not sure how/why, but the commission is now 6%(3% each). :D
Hobby