You also have different type of representations, you can work with only one agent as a transaction broker, you will pay less commission and he will be even more motivated to sell since he earns the full commission and not have to share it with another agent.
Let me know if you would like to discuss representation. I am a real estate agent specializing in luxury property mainly south of fifth street in Miami Beach.
As you have already seen here, if a home is properly priced for the current market conditions it will sell. There are buyers out there for all types of properties in all price ranges, local buyers as well as those from out of state. As for the commision rate that is and always has been negotiable, but with that said, sometimes you get what you pay for. Whether working on an expensive listing or a moderatley priced home, the normal commission rate is 6% of the sales price split equally between the lisitng and selling agent. The key in working with a realtor is to find one that will provide you with the most accurate and timely information, not what you may always want to hear, but what needs to be said. When calculated out based on the time and work involved in working on a listing and subsequent sale, there are many hours of work involved, more sometimes than buyer or sellers realize. Some transactions run smoothly, but with the current market conditions and the ever changin lending requirements it appears that more and more transactions are requiring a higher than normal time dediction from start to finish. Good luck with your home sale.
RE/MAX Advance Realty
Certified Distressed Property Expert
Yes, expensive (luxury) homes are sellable - if the marketing is agressive, the property is prepared for sale (staged etc.), priced correctly and commissions are standard (if seller pays less than standard commissions - the house does not get shown as much, ends up not selling for what it could have sold (becomes a stale listing), and/or taking muchlonger time to sell).
6% is standard for commissions, which is paid to both - listing and selling agent (divided equally between the agents). Sometimes, the listing agent could have more flexibility in commissions structure - in certain situations.
It will help greatly to analyze your specific area to see the ADOM (and how they depend on the type of transaction), to evaluate the sold to asking ratios (which helps pricing), current market trends...In fact, a few days ago, there was an article in Miami Herald on luxury property pricing - that is actually at the highest it's been for a quite a while...performing much much better than non-luxury market sector.
Feel free to contact me for a marketing proposal/home preview at 305-904-2355.
Hope this helps,
Beachfront Realty, Inc.
Normal Commision Rate is 6%.
If you would like to speak to an agent regarding your property feel free to contact me.
Record high prices are also being recorded in South Florida where a waterfront mansion sold for a cool $36 Million late last year. So the luxury market is really flourishing in Miami.
BUT-- If we're talking a $500K list price in a $400K neighborhood, its not always an easy sale. If a seller is motivated to sell, the price should reflect it. I hope this helps.
Thank you for your question
Luxury homes are on demand again of course not everybody can qualify for a jumbo loan. It is very normal that luxury homes including luxury apartments takes longer to sale as the buyer market is smaller. This is Miami, the land of Real Estate opportunities and buyers come from outside to get a beautiful vacation home/apartment on Miami Beach or Coral Gables or Aventura or Brickell.
Luxury homes are selling. It is really up to who is the Realtor and for the property to be at the right price for the property to sell fast.
Miami Premier Realty
Yes, expensive homes are saleable. All homes are saleable if they are priced correctly for the market.
Usually, the commission that the seller has to pay to the listing broker for selling a single-family home is 6%. If a realtor from a different broker brings the buyer to the transaction, the commission is usually split 50-50 between the brokers (3% each).
Of course, if you have a home or property that you would like to sell, it would be my pleasure to prepare a comparative market analysis for you at no cost and, hopefully, list your home.
Thanks for your inquiry. You may contact me at anytime.
Therese Drakeley Smith