You are here:

Buying or Selling a Home/Commission for selling my MH in Santa Clarita, CA

Advertisement

Expert: - 10/2/2010


Question
I am trying to sell my late model MH in Canyon Country (Santa Clarita), CA, and
I've had different MH agents give me different percentages and amounts they
charge for their commission.  Is there a standard percentage or amount they
should all be charging.  My home is going on the market at $95K and I'd like to
get an honest answer from someone I can trust.  Thanks!

Answer
Hello Bobbi - Federal anti-trust laws prohibit real estate sales people from having discussions related to 'standardizing' compensation. Each broker decides what activities and services they will provide and for what fee. Therefore, it is important when entering into an agreement with a MH or other real property licensee to itemize with specificity the services and activities you will receive and at what cost. Then compare the services and weigh the costs associated to determine which representative you desire. Also, when interviewing multiple salespeople it is also important to ask them what it will take to sell the MH or property... such as what comparable properties have sold for and what you should start at for your list price making certain you are priced ahead of the market (meaning in the lower end of the price spectrum) anticipated strategic price reductions, repairs to make the property more desirable or more saleable, staging of the property, curb appeal, location and amenities of the community. Also, ask how they plan to expose (market/advertise) your property to the demographic of buyer who typically purchases these properties in this location. Do they have a social media and internet plan? Will the salesperson/licensee be holding open houses to encourage local visitors and past potential buyers? Do they send letters to the existing community of homes introducing your property looking for referrals from homeowners friends who typically desire to move into a community in which their friends live? Do they work with a lender who has financed other properties in the area which can contact their past database of prospects who could not afford to buy at a time in the past but may have improved their credit worthiness since and would qualify under current guidelines? These are just some of the questions you should be asking your salesperson/licensee. Interview them... don't let them make you feel like they are interviewing you as though you would be lucky to have them. I call this negotiating. Let me know if you need further information by replying to this post. - Todd Menard

Buying or Selling a Home

All Answers

Answers by Expert:

Ask Experts

Volunteer

Todd C. Menard

Expertise

National Association of Realtors Code of Ethics and Professional Standards * Contract Questions: 05/05 Arizona Real Estate Purchase Contract, Exclusive Buyer Broker Contracts, Listing Contracts and associated contract documentation as it relates to boilerplate, covenants, contingencies, procedures and procedures. * ARMLS Arizona Regional Multiple Listing questions * Real Estate Professional Standards and Practices, Ethics, Obligations, Duties * Agency relationships in Arizona, Procurring Cause * Questions typicaly arising during the listing period * Questions typically arising during the escrow period * Questions about working with a real estate agent/REALTOR * Questions Related to New Home Builders

Experience

National Association of REALTORS Board of Director (2011) Arizona Real Estate Salesperson License (1991-1995), Arizona Real Estate Brokers License (1995-Present), Arizona Association of REALTORS Board of Directors (2008-Present), Arizona Association of REALTORS Professional Standards Committee (2008-Present), AAR Certified NAR Code of Ethics and Professional Standards Instructor, Southeast Valley Regional Association of REALTORS President-Elect (2011) Southeast Valley Regional Association of REALTORS Board of Directors (2008, 2009), Southeast Valley Regional Association of REALTORS Grievance Committee Chairperson (1998-2007), Southeast Valley Regional Association of REALTORS Bylaws Committee (2008-Present), Southeast Valley Regional Association of REALTORS Education Committee (2008), Arizona Association of REALTORS Forms Committee - Residential Purchase Contract (2005), Arizona Association of REALTORS Forms Committee - Residential Rental Agreement (2008), Arizona Association of REALTORS Forms Committee - Buyer Broker Agreement (2009), Arizona Association of REALTORS Presidents Advisory Group, Road to Professionalism (2009), Arizona Association of REALTORS GRI Curriculum Review Committee (2009), Arizona Department of Real Estate, Commissioner's Education Advisory Group Sub-Panel B (2010) Arizona Department of Real Estate, Commissioner's Statute and License Review Committee (2007)

Organizations
National Association of REALTORS, Arizona Association of REALTORS, Arizona Real Estate Educators Association (AZREEA), Arizona Regional Multiple Listing System (ARMLS), American Notary Association, Southeast Valley Regional Association of REALTORS (SEVRAR), Southeast Valley Regional Association of REALTORS Women's Council of REALTORS (2010-Present), Phoenix Association of REALTORS (1994-2000, 2005-2009), Scottsdale Association of REALTORS (1994-2000, 2005-2009), Maricopa/Glendale Association of REALTORS (1994-2000, 2005-2009),

Publications
"Real Estate in 2008"- Lifebushido Publishing (Contributory Author), SEVRAR Magazine, Internet Crusade, RealTown ListServe, Blogger.com, Active Rain

Education/Credentials
- AAR Certified Ethics and Professional Standards Instructor, Graduate REALTOR Institute (1993), Certified Negotiation Expert (CNE), Over 100 Hours of annual real estate continuing education, Annual Ethics and Professional Standards Development Workshops as required by the National Association of REALTORS, Approx. 36 hours of NAR Code of Ethics training annually, Numerous IDW, Seminars and Train the Trainer programs, Business Management Degree - 1981

Awards and Honors
2009 REALTOR of the Year Award, Southeast Valley Regional Association of REALTORS (10,000+ Members), Double Platinum Production Award ($45,000,000 Sales Volume)- Keller Williams Realty Int'l (2001), Top 15 Sales Production Keller Williams Realty International (2001), Top 5 Sales Producation Keller Williams Realty Southwest Region (2001), Top Recruiter Award - Keller Williams Realty Int'l, SW Region (2002), Who's Who in U.S. Executive (1983), Who's Who in U.S. Real Estate Professionals (2007)

©2012 About.com, a part of The New York Times Company. All rights reserved.