Community Corner
Sold: Recent Home Sales in the Mendota Heights Area
An agent may not be earning what you think on a home sale.
When a real estate agent lists your home, she or he doesn’t walk away with the full six to seven percent of the selling price that you pay them. The listing agent must split their commission with the buyer’s agent, giving them anywhere from 2.5 percent to 3. 5 percent.
The agent may also offer a fixed-dollar bonus to the buyer’s agent to help sell the home. Then there’s the expenses it takes to sell it–the signs, the advertising sometimes even paying another agent to hold an open house–all covered by the listing agent’s commission.
If the house doesn’t sell, these expenses come out of the pocket of the real estate agent, as does the time the agent puts in to advising, negotiating and traveling. When you pay a low commission, you often get less in the way of services which means your home may be on the market longer and sell for less.
Find out what's happening in Mendota Heightswith free, real-time updates from Patch.
These homes closed during the last week in the Mendota Heights area.
1) 1111 Sibley Memorial Highway, Lilydale
Find out what's happening in Mendota Heightswith free, real-time updates from Patch.
Listed by: Re/Max
High-rise condo
Two bedrooms, two baths
Days on Market: 69
Closed: June 10, 2011
Original List Price: $150,000
List Price at Time of Offer: $150,000
Sold Price: $160,000
2) 2274 Field Stone Dr., Mendota Heights
Listed by: Coldwell Banker Burnet
Two story single-family home
Four bedrooms, four baths
Days on Market: 14
Closed: June 10, 2011
Original List Price: $485,000
List Price at Time of Offer: $469,900
Sold Price: $460,000
3) 1575 Boardwalk Court, Mendota Heights
Listed by: Edina Realty
One story, single family home
Three bedrooms, three baths
Days on Market: 294
Closed: June 14, 2011
Original List Price: $695,000
List Price at Time of Offer: $599,000
Sold Price: $577,500