Listing agent commission and services

[Lou Lee]

Hello All,

I am thinking of selling my duplex unit in Milwaukee, WI due to recently getting a new job that no longer allows me enough time to finish the repairs of the upper unit (lower unit is rented). Assessed value around $125k

I reached out to a RE agent who gave a market estimate of $101k  and mentioned a 5% commission. Is this a good rate for the area and property value?

That would be my first time selling a property, so let me know anything that I should be looking at.

Thank you all in advance for any advice.

Lou

[Rebecca Knox]

Also, Lou---where is the general vicinity of the duplex? 

We are in a low inventory market where if the duplex is priced realistically, it should sell with little effort. There are also flat rate listing agents as well.. John Newland also does flat rate listings. 

Dependent on where it is, you could also calculate what you would be willing to accept on an off-market deal and then post it in the Facebook real estate groups. 

Always close with a Title Company. I use Stewart and Land and many others do as well because they are the bomb!!!

If you can provide your Title Insurance from when you purchased the property, you will get a discount. 

Also, since this is the first time selling a property, many sellers aren't aware that:

Items the title company needs to look for that could affect the sale of your property and is deducted from Seller’s side at closing.

• 1.Owner of Record, and whether or not they may be deceased
• 2.Mortgages
• 3.Municipal liens
• 4.Unpaid property taxes
• 5.Federal Tax liens (IRS)
• 6.State Tax liens
• 7.Docketed judgments for money (https://wcca.wicourts.gov/case.html)
• 8.Bankruptcy ***
• 9.Child support liens (state-wide per statutes)

*** If you declared bankruptcy in the past and your case is now closed, a final list of creditors from your case may be necessary in order to clear potential liens that may have been included.