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Old 04-18-2014, 03:40 PM
 
2,049 posts, read 1,832,041 times
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Quote:
Originally Posted by grannynancy View Post
I also sold the home as FSBO but when a buyers agent came to me went ahead and paid the commission because it sold the house quicker than I had anticipated.

If you find an agent, find someone good. I have been remarkably UNIMPRESSED by some of the real estate agents I have met. Folks who don't seem to or don't want to do things like check out adjacent zoning (like one subdivision I looked at across the creek from a trailer park and across the street from a peice of land zoned industrial. There were NICE homes. Do people just not do these things?

I found the houses I wanted to look at and had the agent take me. It seems I did most of the research. Only looked at about 6 houses because I had pre-weeded out many many more.
We've bought 4 houses now. We've had both good and bad realtors and I will say a good real estate agent is a bargain at 3% and a bad agent is worse than no agent at all. If our first agent had been worth anything, we would have never bought the first house we bought. I found out later that the agent on our third house only showed us part of the listings in town - nothing listed by one of the major firms in the area.

I would say if your agent is doing a good job, it is just common decency to make sure they get paid.
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Old 04-18-2014, 07:25 PM
 
99 posts, read 170,724 times
Reputation: 150
Quote:
Originally Posted by lsc22 View Post
We are first time home buyers
This, more than anything, is why a buyers agent makes sense. Plus, if I recall from your previous posts you're new to the area so you'd absolutely benefit from the advice of someone familiar with neighborhoods, schools, etc.

We've bought/sold a couple of houses and yes, not all realtors (or real estate lawyers) are created equal. But to me that simply means choose a good one -- it doesn't mean go without. There are a thousand Is to dot and Ts to cross and things to look for that you may not even realize need to be considered.
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Old 04-18-2014, 09:35 PM
 
Location: Greenville, SC
81 posts, read 164,526 times
Reputation: 43
For those of you that sold FSBO... How long was your home on the market? Would you recommend doing it? Why did you choose to sell without a listing agent?

I will be putting our house on the market this year. Considering FSBO but would be willing to pay the buyer's agent fee.
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Old 04-19-2014, 04:02 AM
 
3,627 posts, read 12,402,826 times
Reputation: 2682
My home was on the market for less than a week and not at a great time. But the home was ideal as it was the smallest home in a nice neighborhood and backed up on a wooded section of the subdivision that was owned by the HOA (Interior woods).

I think we had just put it on some very inexpensive local online sites and were contacted almost immediately...we were in the middle of prepping it for sale (redoing floors, painting walls, minor stuff like that). I think the decision to market our home would be based, in part, on the market and sale-ability of the home.
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Old 04-19-2014, 05:07 AM
 
Location: Travelers Rest SC
745 posts, read 1,922,593 times
Reputation: 500
Regardless of whether or not you use a realtor, you HAVE to do your own due diligence! I can't stress this enough. Some realtors are out-and-out dishonest. Others don't take the time to properly research what you are looking for. None of them can be expected to know every detail of every house in the area.

We once looked at a house a few blocks from my son's school, which would have been ideal for us. Unfortunately, there was a sewage treatment plant across the street. The realtor flat told us several times that there was no odor from the plant. Well, I drove by the neighborhood every day for the next 10 years, and there was an odor problem at least several times a week! It would have been impossible to have a backyard cook-out, especially in warm weather.

Educate yourself. In Greenville County, for instance, you can go on the county GIS site, and research any property, and the surrounding area. Check for flood zones. Check the crime stats. Check to see what is 1/2 mile down the road. If the home was built by a builder, google them to see if customers are generally happy with their homes. When you think you've found your dream home, pay a good inspector to really go over it with a fine-tooth comb. When we bought our land here in the north county, we came armed with a list of about 25 properties gleaned from real estate web sites. After doing our research and looking at the lots, there were only two in consideration.
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Old 04-19-2014, 05:25 AM
Status: "It takes a lot of balls to golf like me" (set 9 days ago)
 
Location: Charleston, SC
3,943 posts, read 3,186,123 times
Reputation: 3394
Why use a Realtor?

REALTOR.com: Why Use a REALTOR®?
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Old 04-19-2014, 05:39 AM
 
3,627 posts, read 12,402,826 times
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Quote:
Originally Posted by flgargoyle View Post

Educate yourself. In Greenville County, for instance, you can go on the county GIS site, and research any property, and the surrounding area. Check for flood zones. Check the crime stats. Check to see what is 1/2 mile down the road. If the home was built by a builder, google them to see if customers are generally happy with their homes. When you think you've found your dream home, pay a good inspector to really go over it with a fine-tooth comb. When we bought our land here in the north county, we came armed with a list of about 25 properties gleaned from real estate web sites. After doing our research and looking at the lots, there were only two in consideration.
I did all of those things though I was very dissapointed in the inspection service I hired. (large company which had done a great job for me in another town but missed some major things here!) They got me all upset about not having weeps in the brick walls* while missing the very inefficient and unorthodox placement of air ducts and undersizing of return vents in the home which we are now replacing during a somewhat premature HVAC replacement

I was appalled that the Realtor I used seemed unaware of the GC GIS site which is a WEALTH of information! Yes to the zoning, crime stats, flood plains, all that! Other local counties have GIS sites that are not nearly as informative or easy to use. Also Greenville planning commission may have details on what is going on on adjacent properties. (such as subdivision plans). I remember being told one piece of property could not be developed only to find a recent plat plan on the planning site.

*a lot of homes drain to concrete blocks instead of having weeps and weeps can bring their own problems per masons we contacted.
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Old 04-19-2014, 06:02 AM
Status: "It takes a lot of balls to golf like me" (set 9 days ago)
 
Location: Charleston, SC
3,943 posts, read 3,186,123 times
Reputation: 3394
Not all Realtors are cut from the same cloth, still for an average transaction, most people are not do-it-your-selfer's like you seem to be. Perfect example yesterday. I had a lead I was following up with, they wanted to do a FSBO, and I offered to provide an accurate market value for them. The declined and yesterday when I called them, they were very happy to be closing on their home. I asked what price they received, and they mentioned that the buyer was an investor and paid them top dollar for market conditions. I then researched the comps in their area and when, I see this alot with FSBO's, the cash offer the accepted was $120K less than market value, their home would have sold easily if it had been listed on MLS, it was in a market where the Days On Market was averaging 15 days.

All I would say to FSBO folks, if you plan on selling your home yourself, you should at least hire an appraiser or Realtor to provide you comps so that you can accurately price your home.

Nothing puts a stigma on a house quicker than it being on the market too long and too over-priced. And besides, you don't want to leave $120K on the table.

In my personal business I am happy to work with FSBO sellers who want comps for their homes, I charge a simple fee to provide my services just as an appraiser would.

There are bad apples in every industry. I feel it's just amplified in real-estate because the product is of a personal nature and is very expensive. But, most folks (not all) try out FSBO as an option and quickly find that the professional services a Realtor can provide is a bargain.

The reality that I see everyday is that most FSBO sellers don't market their property, some have joined a website or paid money to advertise in their local MLS's, but the majority advertise by listing their property on Craigslist. Now, who do you think is out there trolling Craigslist for FSBO's? You guessed it, investors looking to flip your property by offering cash lower than market. These are professional flippers that know how to convince you that their offer price is fair, and by golly they're paying cash.

How many times, as a FSBO seller, have you let someone into your home without a pre-qualification from the bank? Did you do your due diligence to see if that person was able to purchase a home? For safety reasons, did you interview them, meet them is a public place, check their sanity? A lot of times the answer to this is "no", and that's scary, please don't let folks into your home without meeting them in a safe place first. This is one thing a Realtor does for you, we invite buyers into our safe zone, interview them, and do your diligence for you.

As someone else above said... Please if you go the route of FSBO for whatever reasons, do your due diligence and pay to have your home advertised and properly priced.

Last edited by WiseManOnceSaid; 04-19-2014 at 06:32 AM..
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Old 04-19-2014, 11:27 AM
 
4,382 posts, read 6,068,502 times
Reputation: 1566
Quote:
Originally Posted by WiseManOnceSaid View Post
Not all Realtors are cut from the same cloth, still for an average transaction, most people are not do-it-your-selfer's like you seem to be. Perfect example yesterday. I had a lead I was following up with, they wanted to do a FSBO, and I offered to provide an accurate market value for them. The declined and yesterday when I called them, they were very happy to be closing on their home. I asked what price they received, and they mentioned that the buyer was an investor and paid them top dollar for market conditions. I then researched the comps in their area and when, I see this alot with FSBO's, the cash offer the accepted was $120K less than market value, their home would have sold easily if it had been listed on MLS, it was in a market where the Days On Market was averaging 15 days.

All I would say to FSBO folks, if you plan on selling your home yourself, you should at least hire an appraiser or Realtor to provide you comps so that you can accurately price your home.

Nothing puts a stigma on a house quicker than it being on the market too long and too over-priced. And besides, you don't want to leave $120K on the table.

In my personal business I am happy to work with FSBO sellers who want comps for their homes, I charge a simple fee to provide my services just as an appraiser would.

There are bad apples in every industry. I feel it's just amplified in real-estate because the product is of a personal nature and is very expensive. But, most folks (not all) try out FSBO as an option and quickly find that the professional services a Realtor can provide is a bargain.

The reality that I see everyday is that most FSBO sellers don't market their property, some have joined a website or paid money to advertise in their local MLS's, but the majority advertise by listing their property on Craigslist. Now, who do you think is out there trolling Craigslist for FSBO's? You guessed it, investors looking to flip your property by offering cash lower than market. These are professional flippers that know how to convince you that their offer price is fair, and by golly they're paying cash.

How many times, as a FSBO seller, have you let someone into your home without a pre-qualification from the bank? Did you do your due diligence to see if that person was able to purchase a home? For safety reasons, did you interview them, meet them is a public place, check their sanity? A lot of times the answer to this is "no", and that's scary, please don't let folks into your home without meeting them in a safe place first. This is one thing a Realtor does for you, we invite buyers into our safe zone, interview them, and do your diligence for you.

As someone else above said... Please if you go the route of FSBO for whatever reasons, do your due diligence and pay to have your home advertised and properly priced.
Couldn't have said it better myself. Right on spot. I work with fsbo's and investors. Investors goal is to get in at 60 percent of market value. They aren't going to pay retail. They want that equity. That's why they usually look for distressed property or owners in distress.
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Old 04-19-2014, 11:35 AM
 
Location: Eureka CA
7,580 posts, read 10,387,529 times
Reputation: 11336
Buying a house without a realtor representing you is foolish. At time, I have used a realtor and an attorney both.
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