I was wondering if I could list my parent's house for very low commission or no commission.



If I have an agreement with my future broker then would it possible to do so?





I have not been the best child but I thought I would do something for my parents. They are thinking about selling their house since all of their children have all grown.

Odds are your broker will want to get paid. Then there is the issue of the buyer's agent. Little/no commission for the buyer's agent usually means few if any showings.

List your parents' house for a fair rate, and then give them kick butt customer service. Best wishes!

Few brokers will let you list/sell for free, since the broker still carries liability for that transaction. However, many brokerages will already have policies for agents who want to list their own properties or that of family members. Those policies will vary, so definitely discuss that with potential brokers if you anticipate that occurring. I would charge the same no matter what the circumstances, but I already operate on a minimal flat-fee basis anyway.

And, of course as FSBO has already mentioned, the selling agent will want to get paid; don't expect to see a lot of enthusiasm from other agents if there's no commission to them.

Give your parents what you make on the transaction less tax. That should make them happy. I sell my relatives homes for zero % on the listing side. It's the least I could do for them having me as a relative.

Thank you so much for your advice. I really appreciate it. :)

First of all, why would you want your parents home listed for the low commission?

Personally, I don't think you want to deal with family, since things may go wrong and they will become personal. You don't want the next Thanksgiving dinner to be about why their home is still on the market and how you should have never been in the Real Estate to begin with.

So, the best approach for you would be to recommend your family interview at least 3 agents. And being present for the interview would provide you with some free training.

If I were you, this is what I would do...
Go to a big office in the area, presumably this will be Re/Max and ask to see the managing broker or the person in charge. Tell them that you have just passed the test and are interviewing various brokers. BUT... a more pressing issue is the sale of your parent's home. Ask them how to find the top agent for the area.

In Chicago we have a program that can run agent metrics and can select the top office for a city or an area that you select. Choose that office as one of the contestants. Go to that office and ask about their top producer. That's one of the persons you want your parents to interview for the sale of their home.

I can do two transactions with no commission. Keller Williams. You still will need to offer something competitive to buyer agents.

Yeah, most brokers will be irritated. Our policy is to let immediate family transactions go for free on the broker's side as a courtesy - I don't think we have a local competitor that does the same.