With over 10 years experience in the Highlands Ranch market I know that houses can sell quickly, and with little effort. So, it's probably not reasonable to pay a broker $25,000- just to enter it into the MLS. It is reasonable to pay the 'selling broker' (working with the buyer) a good commission because that's where all the hard work really is.
I have sold houses using only a Zillow posting and didn't pay ANY commissions. Buyers are searching Zillow and making deals direct with the owners. Usually, however, there is a 'Selling Broker' involved in most transactions.
They will expect to receive a 2.8% commission. However, by law, that is fully negotiable. The large national franchises will have the highest commission rates plus some additional company fees.
- having a licensed broker involved will make the paperwork flow much easier.
You will definitely want a broker at some point to put together the paperwork, disclosures and inspections.
In the current market, there are several listing options. Here's the most common:
National Franchise 'Full Fee' Brokers: (ReMax, KW, Coldwell Banker, etc)
2.8% listing commission plus 2.8% Selling Broker commission. Plus franchise fees.
Always members of the Realtors Association, promoting their 'full service' listings.
Discount Commission Brokers:
Typically, they will charge a 1% listing fee, plus 2.8% for the Selling Broker.
This is a common practice for newbie or low performing brokers looking for business.
I charge a 2% listing commission. The selling broker will want 2.8% - they would settle for less.
Flat Fee Brokers:
Fees range from $1,000- to $3,000- PAYABLE IN ADVANCE
A huge savings, but if the house doesn't sell you don't get a refund.
- in this market that's probably not an issue, but still a risk.
I would charge around $2,000- for a flat fee listing - depending on the property and pricing.
We Buy Houses:
They will offer you a cash price. Usually, it's heavily discounted (40%) but it is a cash price and a quick sale.
If you need the cash immediately they will deliver it. (there are some bad players in this market).
However, if you have a house in Highlands Ranch, I would also be a cash buyer, at a price 10% higher.
For Sale By Owner:
Listing it yourself in Zillow and managing the entire transaction by yourself.
Often, these transactions fail to close when the seller can't execute proper contracts for closing.
Using a Transaction Broker service to manage the contracts, compliance and closing is a must.
See my Transaction Brokerage site: www.RealtyTransactionBrokers.com
All our listings are published in the Denver MLS and Zillow for maximum exposure.
Call me direct at (303) 791 - 7817