Question about FSBO services and commission

Started by anonymous
about 7 years ago
Discussion about
Hi all, I am researching if it is worth using one of these FSBO services like Hauseit or RealDirect to sell my house in NYC. From what I understand, if I use one of these services, I will only have to pay a 1% brokers fee; however, won't I end up paying 4% since I still have to pay 3% to the sellers agent? They all seem to advertise "pay only 1%" but that has to be wrong, no? I realize there can... [more]
Hi all, I am researching if it is worth using one of these FSBO services like Hauseit or RealDirect to sell my house in NYC. From what I understand, if I use one of these services, I will only have to pay a 1% brokers fee; however, won't I end up paying 4% since I still have to pay 3% to the sellers agent? They all seem to advertise "pay only 1%" but that has to be wrong, no? I realize there can be quite a difference between 4% and 6%; at the same time, I will be doing the leg work when it comes to prepping the house and paying for professional photos etc. If it comes down to saving $20K, (not including the upfront flat fees I will pay the FSBO service to use its service), I am not sure if it's worth it. It's a two family home, and while I do have the time to put in the work, it will be a lot of work. Can someone let me know if I am missing something, or will I be on the hook for the 3% for the seller's broker, no matter how I go about selling my place? Do the buyers literally refuse to buy unless you pay their broker? Can I agree to pay the 3% but at the same time raise my asking price by 3%? I don't mean to suggest that agents don't deserve money for their hard work; I am simply willing to do a bunch of that hard work myself in exchange for a guaranteed %-age savings in my final profits from selling. We found the house ourselves back when we bought it through word of mouth in the neighborhood, so we never dealt with a buyer's agent, only a lawyer, so this is all new to me. Thank you for reading! Megan [less]