Adding real estate agents commission to your asking price is not an advisable thing to do. It only over prices your property compared to others on the market.
It has come to our attention that a realtor is approaching some of the sellers on our website. In order to get the listing, they are offering to add 5% to what the owner is asking for their property. Since the asking price is already at market value, this is going to create a situation that can cause future problems.
When a property is listed on the Multiple Listing Service (MLS), a foot print is created. The listing will stay on the system for years to come whether it sells, expires or is cancelled. There is no way to remove it. Buyers and sellers will have access to the listing history.
When shopping for a home, buyers will be supplied by their agent with all the past activity for a property. If it has been on the market for a long time and listed with different agents, it creates the wrong impression. Some buyers will think there is something wrong with the home. Others might look at it as an opportunity to submit a low offer.
If you are going to list your property with a real estate agent, it is in your best interest to list the property at market value. This is established by comparing yours to others that are in your area and similar to yours that has sold recently. Be prepared to sell at this amount or less, and then deduct the amount of commission agreed to.
Check out our Durham Region For Sale By Owner website.
HomesByOwner of Durham Region
Toll Free - 866.964.FSBO (3726)
Sell Your Home. Keep The Commission.
