Top-selling Minnesota Realtors shift away from distressed housing

  • Article by: Celia Ampel , Star Tribune
  • Updated: July 19, 2013 - 8:52 PM

As the economy recovers, successful real estate agents are returning to traditional sales.

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workforit1Jul. 20, 1312:30 PM

Celia... this is a very bad piece of reporting. The fact is that the short sale market has dried up. That is the only reason the agents are moving back to traditional sales. Don't act like this guy is Warren Buffet. This is not even worth the space this is written on. It must have been a slow news day.

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stingballJul. 20, 13 1:06 PM

Consider selling your home yourself if you have a good house in a demand neighborhood in a now very improved real estate market. Many good houses sell within a few days (or even on the day they are listed) and it's not worth forking over 7% commission to a real estate agency that ended up doing very little for you. At the very least, negotiate their commission down from the standard 7%. With the way real estate selling has changed with the advent of the internet (MLS is now online and available to everybody) 7% commissions are often no longer justifiable for many real estate transactions.

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spunkykleeJul. 20, 13 2:45 PM

sting, what is a good rate the for a real estate agent now? I agree with everything you said, the internet has made it easier for agents and commission is out of line with todays world, they do not have to work that hard.

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stingballJul. 20, 13 4:32 PM

spunkyklee, I know people who have negotiated their realtor's commission down to 2.5% and 3.0%. Of course, it depends on how easy your house will be to sell. If it is a good house in move-in condition in a demand neighborhood, and your pricing is reasonable, it should not take long to sell in this market and the realtor should be willing to take a cut in commission. Many people will just blindly accept the 7.0% commission and not even attempt to negotiate it down. Consider: if you have an average house that will sell for say $250,000 and it sells within a week, at 7% you are paying the realtor $17,500 for a couple weeks work. And this is for just really several hours of actual work per week. I'm not saying that a good realtor will not add value, just saying that 7.0% commissions are not justified in alot of cases.

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