Yesterday I had the pleasure to meet an old co-worker of mine in New Orleans. Him and his wife are both nurses and earn a fairly good living.
Problem is they have been trying to sell a house for over two years now. They have it listed with a local agent and haven't had any success. The house is vacant and costing them a pretty penny to maintain insurance, etc.
They only owe $30,000 on the home and are asking $125,000. I asked him how much did he want to get out of the house at closing. The reply just about floored me. He and his wife hoped to make $30,000 off the sale of the house after closing and commission. I asked how much commission are you paying and do you only owe $30,000.
Commission was 6% and yes only $30,000. I told him he could drop the house about $50,000 and still walk away with $30,000. His look was that of one of those cheap zombie movies that pop up once in a while.
It seems this agent had never sat down to explain to them what they would make approximately on the sale of their home. She had to assume they already knew.
Up until now I never put the amount in writing like I have seen other agents on active rain detail. But you can bet I will for now on.
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