I bought a lot in a private club a couple of years ago with the thought that we may eventually build there. We've decided not to build there and I am now interested in selling the lot. I know now is not a great time, but I figure it can't hurt as the sales people just drive prospective buyers around and show them the lots currently for sale.

The salesperson/Realtor sent over a contract with 6% commission, I responded that 6% seems very high for a lot. The Realtor responded with . "Our Brokerage has been set up with [Developer] and does not allow for changes to our commissions." I responded with "Have any other Brokerages transacted on lots in [Development]? Are there any other Brokerages you can recommend?" They responded, "No other outside brokerages have transacted in [development], other than representing buyers. As you know, our community does not allow non-member guests in the community especially to tour the amenities."

This whole arrangement feels very favorable to the developer's brokerage and unfavorable to sellers.

Any creative ways around this? Should I get my real estate license just to sell my lot?

This is in the Austin area. Similar lots are priced in mid-$3 million range, so ~$200,000 to sell a lot with no improvements while showing another 10 lots in the same community doesn't seem like a lot of work for the Realtor.

I was going to offer 4%, but since it's "not negotiable" I will likely find another way. If/when the market heats up, I'll put a For Sale By Owner sign in the lot and the same realtor can accidentally show my lot while she's showing others nearby.

Thank you for confirmation that I'm not being an ******* in this situation.

Driftwood?

Red Pear Realty said:

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Another solution.

How about I buy 1.5% of your ownership in the lot for $10 and other good and valuable consideration? Then charge nothing to sell it. I'll also happily give you the right to buy it back at any point in the future if you decide not to sell. As an owner, I could then show the neighborhood, property, and amenities with impunity, correct?

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I think you would also need a membership to show the amenities. I could probably assign you my membership when I sale you part of the lot.

I'm just going to wait until the market is better. Hopefully that's a few years rather than decades.

They don't allow "non member guests especially to tour amenities"...but expect folks to pay 3 million for a lot...do I have to buy a membership to even look at the place?

I like that strategy. I think Austin is the most oversold market in Texas, and when tech comes back, real estate values will come back screaming. And we will be happy to help you whenever the time is right.

cslifer said:

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They don't allow "non member guests especially to tour amenities"...but expect folks to pay 3 million for a lot...do I have to buy a membership to even look at the place?

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I think you have to be a guest of a member or arrange a tour through their anti-competitive sales office. Maybe their Realtors get complimentary memberships, because the membership deposit is eye-watering.