We bough ta home in DE because we thought my husband took a job at a new homes development.
He actually got his license in DE.

The job did not work out and when it came time to sell, we opted to interview and hire an agent who worked in the area. We could have asked for a referral fee back to VA, but decided it is best to let them charge their fee and get the job done. The average commission in DE is 5% and is split 50/50 with the other agent. However, there is also a 3% grantors tax that the seller and buyer split. Really, we are pay 6.5% of the sales price.

As a Realtor, we know what it takes to sell a home and saving money to sell it ourselves goes against everything we preach. We tell sellers everyday that it takes someone who is knowledgeable to sell a home. Well, living in an area for 5 months, didn't make us knowledgeable at all.



Angie

Thu Feb 28 2008, 13:30

We're in a rec market, and are getting more and more agents trying to work in this area, due to internet info sharing and soft markets in other areas. I would never sell my own place in an area where I don't live. Certainly an out-of-state location. The local agents have the contacts, buyers waiting, and local market savvy to make it work for me. And, considering zoning and municipal ordinances, etc. and the potential for liability increase as a licensee on my own property, I'd be DOUBLY eager to pay a commission. In most cases, I think the local agent would get me more net $$ too, as usually an owner/agent tends to under price their properties.

Thu Feb 28 2008, 12:54

As a ski town realtor in Park City, I would never think of trying to sell my vacation home in a city that I do not have an agent. I ,first would network my referrals within Windermere, and if we do not have an office in that city, I would use our relocation expert that has contacts with agents anywhere in the world. I took a client to Mesquite, Nevada just 2 weeks ago, and did not have an agent. I now have a data base of agents that I can now work with all over Mesquite that I have personally met, that could give me a referral for a client looking for property in Park City, UTAH. We are in the referral business! That is the beauty of this business, plus I like referral fees just the same :)

Thu Feb 28 2008, 07:06

I would offer an above market buyers agent co-op fee. That way everyone on the mountain would be trying to sell it for me.

Wed Feb 27 2008, 20:46

Bruce....

My philosophy is to have a Realtor represent me if I am buying or selling outside my service area. Those realtors know the terrain, rules, reguations and customs of the area. They will gladly represent me and also pay me a referral fee. Good luck.

Wed Feb 27 2008, 18:29

Bruce....

My personal philosophy is to use a Realtor to represent me if I am buying or selling out of my immediate area. They know the terrain, customs, rules and regulations that are indicative to the area. And besides they will gladly pay me a referral fee. Good luck.

Wed Feb 27 2008, 18:26

Bruce,
I sell real estate in Breckenridge Colorado. This is a huge vacation town and from my experience the people who try to sell their condo on their own have the hardest time. I would hire the agent for a few reasons. Your property will get much more exposure and attention if it is added into the local MLS, which typically you would not be apart of. Second the local agents will have the best knowledge of what local marketing works and what dose not. If you are not in a rush to sell and don't NEED to sell maybe try it on your own at first. Good Luck!

Chris

Wed Feb 27 2008, 12:31

Hello Bruce,

I agree with Marilyn. This might be more trouble than its worth. You want to give yourself the best opportunity to move this property as fast as possible, you may hurt yourself if you cannot be there.

Wed Feb 27 2008, 12:18

I will simply say "NO". The local agents are likely to be able to service your vacation property listing better than you can. Their networking will be important for you. Check out the local agents, see who is doing a good job, then "refer" yourself to them for a fee or discount.

Wed Feb 27 2008, 10:36