Posted by kyhayman on March 12, 2009 at 10:37:10 from (75.104.128.36):
In Reply to: selling a farm posted by simptruk on March 11, 2009 at 22:52:13:
I'd shop around but, from what I hear 6-7% is pretty standard. A lot depends on which area board they are members of, some of them have rules that dont allow realtors and auctioneers to accept less than a certain percentage comission unless its for a family member. It does depend a LOT on who your auctioneer is how much a property brings. There are some who I refuse to attend their sales, some others that do a fabulous job.
I do tend to disagree with the majority of posts. Consistantly, in this market, I see more land bringing a better price at absolute auction than any other way. Thats another catch, if it isnt absolute, I wont go, period.
One idea is to try selling it on ebay or craigslist. That will save you the comission. Its some hassle but its quick and relatively cheap. I've sold property a lot of different ways, mostly, I've found that with a house a realtor is the way to go. With land, I seem like I end up doing what Im paying the realtor for. Thats why I generally sell lots and development land my self or at auction. My email is open if you want some referrals for auctioneers.
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