No. of Recommendations: 2

Thank you for the time you took to reply. I have to say however, that there are several important facts I believe you missed in my original post.

First, we are using the same realtor that is closing our new home we are closing on the end of the month. He is making about $13,000 on that deal. Thus, we have a good relationship with him and he is willing to cut us some slack on the back-end (i.e. selling our existing home at 1% commission). He is not a "discount" realtor by any means...he is just giving us a break since he made so much on our new home purchase.

Second, we are not trying to cut costs. We are trying to cover our bases and ensure that our home gets sold OR rented. If a realtor wants the commission I would think he/she would have incentive to get it sold more quickly if there is the potential that it may rent if they do not make enough effort to get it sold.

All this said, our preference is that the home sells. If it does NOT sell then what? Let it sit on the market empty for 9 months until next spring? Not a financial option for us unfortunately.

What I am looking for here is information on how someone has gone about negotiating such a situation with a realtor before (home for sale or rent), what were the terms, and how did it turn out?


Print the post  


Useful Resources
Our Home Center has all you need to make buying and owning a home a great experience. Get or refinance a mortgage and much more!
Buying/Selling a Home FAQ

Mortgage Professor
Offsite resource for mortgage questions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.