Quote:
Originally Posted by Jim3310
Congrats! Did you stay FSBO? (I do my homework...)
10% lower may actually be about right.
I know, it sounds bad, but what if you bought 22% LOWER than when you listed?
It's here! Just need to know where.
Keep asking & check in when you get here.
The fun starts now, best of luck.
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Yes. I sold it myself with an MLS listing but without a listing agent. I'm paying a generous commission to the buyer's agent -- who by the way isn't having to do anything more work than he would have had I HAD an agent.
I also know, at least around here, that having a listing agent is no panacea or guarantee that the house will sell or sell for more money. Last year and the year before I went through three different agents to sell another similar property. The only way the last agent sold it was to take 40K off the price that other agents said it should sell for and price it ahead of the market. He did no work except showings. I did all the work with the buyer's attorney, getting the inspections, taking the pictures for the MLS websites and my "great" agent was even too cheap to spring for a virtual tour. I did a lot more that I won't go into.
When I finally got an offer, he wanted me to accept less money than what I ended up getting!!! So much for the benefit of professional negotiation skills from a real estate agent -- I was a better negotiator than he was!
Considering all the work I did last year, I figured I could do it again and do a better job marketing --- (this time i had a virtual tour) and get just as much as any realtor could and i think I did.
This year the buyers hardly had deep pockets. A lot of them were first time home buyers, like these buyers are, and I know that this place was the highest priced place they looked at. I don't think they could afford or qualify to borrow any more than what they are paying.
Another couple that looked here and liked it made the mistake of buying a bigger place for more money and they are already being foreclosed on. The notice was in the paper the other day.
Also nothing around here is selling. There were two somewhat similar properties that sold in ALL of Newport in the past two months ---so I don't think having an agent would have guaranteed in the least, any more favorable outcome than what I got
Actually, what I accepted wasn't 10% less( I guess I was exaggerating) than the asking price it was 8% less and most other properties sell for 3 percent to 5 percent under the asking price. So the extra 3% lower price that I accepted (that they probably did not have and you can't get blood from a stone) would have gone to pay commissions if I had had the perfect agent who WOULD have been able to extract blood from a stone. So the whole thing was a wash.
If I wouldn't have had the perfect agent, but If I'd had even a good agent with many years experience, I'd be out ANOTHER 8k in commissions - for about $800 worth of work -- like the last time.
So all things considered, I think I did about as well as I could have with or without an agent.
Charleston, Here I come (accepted a low ball offer on my house)
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