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Asking realtor to chip in

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Sr. Member
Nov 9, 2008
815 posts
464 upvotes
Ottawa

Asking realtor to chip in

Im thinking of asking my realtor to pay for some of the costs related to selling my house...like sharing the cost of painting...

Am i out of my mind? I could increase her commision to cover the costs...which makes sense to me... I could also sign a contract saying i will work with her to buy a new house...more commision for her..

This feels like a good way of making sure they do all they can to sell the house.

Does anyone have any experience making such an offer?
Any ideas?
22 replies
Deal Addict
Oct 20, 2011
1164 posts
442 upvotes
Mississauga
If I were a realtor I would not pay for any type of renovation to get your home ready to sell. The way I look at it is, if the house doesn't sell I just made payments to help renovate your home.

Any costs associated with listing and marketing the home to sell, I would say should be the responsibility of the realtor.
Deal Addict
User avatar
Dec 16, 2007
3906 posts
1028 upvotes
Toronto
Why increase her commission? Just pay for it yourself
Deal Addict
Apr 22, 2014
3097 posts
474 upvotes
Oshawa, ON
If I were a realtor and was asked this, I may consider BUT:
1. I get full control over what is done, no questions asked
2. You will pay full commission plus 1.2 times whatever work I paid for, yes 20% premium.
3. If you suddenly decide to fire said realtor, you must immediately pay for everything that was done x 2.

On another note, when looking for houses, I hated it when it had just been given a fresh coat of point. For one, it's very suspicious. For another, I'd rather have it done myself to my own taste. On the other hand, if all your walls are pink and orange, by all means give them a whitewash lol.
Member
Nov 13, 2007
326 posts
90 upvotes
Toronto
I think this is a total valid idea except the realtors will all cry about it. They are great at saying paint this and fix that, but all they are doing is trying to make their job easier. They will all claim it is to get you more money but the reality is it is to make their job quicker so they can get on to the next sale with the least amount of work. If you have done a good job getting your house in order for the sale and they still feel you should paint a room or two then they should chip in. Benefits everyone.
My last realtor walked around saying things like 'replace that toilet' and 're-tile the hallway'. I said forget it. House sold for above asking, but if I had listened to the realtor I would have been out a few grand.
Member
Nov 13, 2007
326 posts
90 upvotes
Toronto
As a side note, I do know realtors who will get in there and help with the painting and bring things from their own houses to help with the staging, so they are all not bad....
Deal Expert
User avatar
Jul 30, 2007
33237 posts
21167 upvotes
Toronto
why stop at just painting. you should try for kitchen & bath reno too while at it. In this way, I am sure the house will be sold in the first couple of days. :D
Sr. Member
Nov 9, 2008
815 posts
464 upvotes
Ottawa
Thanks for all answers. I will just payfor it myself.
Sr. Member
Mar 6, 2012
783 posts
266 upvotes
hitman_24 wrote: Why increase her commission? Just pay for it yourself
I'm guessing he doesn't have money to pay for it now but since commission is only payed and taken from the money when going to the notary I'm guessing this is why the idea.

@OP, you can ask, especially if you realtor is someone you know, but I think you would be much better off taking a loan from a friend or family to do this.
Deal Expert
Feb 29, 2008
21738 posts
21353 upvotes
Tarrana & The Ri…
hitman_24 wrote: Why increase her commission? Just pay for it yourself
Exactly. You'd probably come out on top if you paid for it rather than take a % off the commision.
Member
Oct 1, 2012
312 posts
66 upvotes
Toronto
d5486 wrote: Im thinking of asking my realtor to pay for some of the costs related to selling my house...like sharing the cost of painting...
No exp in selling a house, though I hear radio ads all the time where realtors say they gonna cover the costs of painting and minor reno jobs. Of course, I am not aware of any fine print. :)
Deal Guru
May 29, 2006
10930 posts
3663 upvotes
I like this idea, realtors are grossly overpaid. make them work for their sale.
Deal Addict
Nov 21, 2007
3433 posts
1386 upvotes
Scarborough
:facepalm:

"Ok Mr. Cheapskate, I'll chip in $500."
Quietly upped % to a $1000...
Member
Nov 13, 2007
326 posts
90 upvotes
Toronto
Don't increase commission.
Have realtor chip in for their suggested upgrades.
Period.
If they say no then suggest to them maybe they are not the realtor for you. The upgrades are for them not you. If your price reflects the quality of the house then it should sell. Upgrading things just makes it a better deal for buyer and an easier/quicker sale for the realtor.
Deal Fanatic
Jul 3, 2011
6517 posts
3798 upvotes
Thornhill
There are a few who will pay for certain things to be done to the property. Expect the listing to be an extended period (6 months or so); require the amount be paid back to the Realtor in the event the property fails to sell or is cancelled by the seller and a fee higher than they would charge otherwise.

The important question that needs to be asked of a Realtor is their estimated market value of the property with and without the change as well as the estimated time on market.

It's a bogus argument to suggest as one or two have that the purpose of upgrades is for a quicker sale since upgrades should always be about adding value. Besides, which seller in their right mind would want their property to sit on the market as opposed to selling quickly?
Member
Nov 13, 2007
326 posts
90 upvotes
Toronto
licenced wrote: There are a few who will pay for certain things to be done to the property. Expect the listing to be an extended period (6 months or so); require the amount be paid back to the Realtor in the event the property fails to sell or is cancelled by the seller and a fee higher than they would charge otherwise.

The important question that needs to be asked of a Realtor is their estimated market value of the property with and without the change as well as the estimated time on market.

It's a bogus argument to suggest as one or two have that the purpose of upgrades is for a quicker sale since upgrades should always be about adding value. Besides, which seller in their right mind would want their property to sit on the market as opposed to selling quickly?
If it is priced as per the condition of the house then it should sell quickly, no delay. If Realtor is pushing for upgrades if priced accurately prior to listing then it is only self serving.
Deal Fanatic
Jul 3, 2011
6517 posts
3798 upvotes
Thornhill
clax66 wrote: If it is priced as per the condition of the house then it should sell quickly, no delay. If Realtor is pushing for upgrades if priced accurately prior to listing then it is only self serving.
Your house, you can do whatever you want with it and sell it in whatever condition you want.

But you're naive to think that investing in a few essential upgrades will not return to you a value greater than that investment or that because it is priced to sell in as is condition that a buyer willing to do the work will magically appear.
Member
Nov 13, 2007
326 posts
90 upvotes
Toronto
licenced wrote: But you're naive to think that investing in a few essential upgrades will not return to you a value greater than that investment or that because it is priced to sell in as is condition that a buyer willing to do the work will magically appear.
It has been my experience that Realtors will ask that you do upgrades even when the essential upgrades (paint, trim, cleaning, etc) have already been completed to make the house easier to sell. There are always improvements that can be made but there is a point where the ROI is negligible except for the Realtor especially since they didn't spend any money.
Deal Fanatic
Jul 3, 2011
6517 posts
3798 upvotes
Thornhill
clax66 wrote: It has been my experience that Realtors will ask that you do upgrades even when the essential upgrades (paint, trim, cleaning, etc) have already been completed to make the house easier to sell. There are always improvements that can be made but there is a point where the ROI is negligible except for the Realtor especially since they didn't spend any money.
Give me an example and why specifically did they want you to make them?
Member
Nov 13, 2007
326 posts
90 upvotes
Toronto
licenced wrote: Give me an example and why specifically did they want you to make them?
I was selling a condo at Harbourfront (33 Harbour Square). Bathroom was a bit dated but still crisp and clean. Was priced accordingly but before it was even listed Realtor was saying i should update bathroom with new tiles and toilet (2 - 3 K maybe?) to get my price. I said no unless he wanted to chip in half since all he was doing was putting the condo on the MLS and making as much as i was. He grimaced. Sold over asking without upgrades. Thanks for all your experience Mr. Realtor. Where was his value added? Nowhere. Back then I didn't know better.

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