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If markets are so hot, would it make sense to sell FSBO? As a seller, if you're good with photos and the Internet and have a sense of self-promotion, how hard could it be to advertise your house and save a couple percentage points on a normal commission? (You might agree to let a Buyer's Agent handle the paperwork for, say, 2% commission or perhaps find a firm that specializes in processing the paperwork for FSBO sales.
I mean, if the market is so hot that buyers are falling all over themselves to submit offers, what value do you get from retaining Seller's Agent? Maybe they could get you a few thousand more, but probably not 6% or even 3% more on the sale of the house in a hot market.
What you are saying is completely true, how you do it varies a little from state to state , but overall it is not at all hard to sell a no "issue" home in a hot market.
I should add, many agents will pretend it is much harder than it actually is, they don't want to encourage people to avoid that massive fee.
Here in WA, we can hire an RE attorney to do the paperwork, assist with planning and services etc. Or/And we can hire an Agent who can act as honest broker to facilitate both parties.
I prefer both parties getting attorneys to keep everything easy and above board.
IF your market is hot , then it is well worth while trying to list yourself, and plenty of agents are willing to give advice in the hopes of getting your biz should you fail to sell it yourself!
OF course I am sure a bunch of agents will pile on and claim that if you sell it yourself you will somehow lose out... But what else would they say? they hardly want people selling FSBO...
I guess you lacked any rebuttal so instead have gone off on some nonsense about your listings.
Sorry mate you don't get to define how markets work. The market does that for us, and it has proved you wrong many millions of times.
As usual, BS. Total BS.
You specifically stated that I am selling houses low and costing my clients money.
Quote:
Originally Posted by evilcart
Your quick full price sale was not full price. Every time you limit your buyer pool you reduce the return for your seller. Now you may not like it, you may wish to pretend that you are special; that you are some magical outlier, but you are not.
It is very simple. By providing a little extra time you increase your buyer pool. And while each and every sale will vary, providing that little bit of extra time does of course increase the average sale price.
Perhaps you don't care about getting that last 2-3% but that does not change how markets work. Not today and not likely tomorrow either.
I say, "Prove it," and you bumble on some more with basic economic theory with no specific real world factual basis.
Again, I say "Prove it. Prove that a specific client has lost money. Specifically, or withdraw the contention that I ever cost any client money." It should be easy to do one or the other.
As usual, BS. Total BS.
You specifically stated that I am selling houses low and costing my clients money.
I say, "Prove it," and you bumble on some more with basic economic theory with no specific real world factual basis.
Again, I say "Prove it. Prove that a specific client has lost money. Specifically, or withdraw the contention that I ever cost any client money." It should be easy to do one or the other.
Please link to where I mention you or your listings... (guess what you won't because you can't)
My guess is you will either ignore this post and pretend you don't see it, or respond but fail support your patently false claim , if fact I should report you for this pretense.
Please link to where I mention you or your listings... (guess what you won't because you can't)
My guess is you will either ignore this post and pretend you don't see it, or respond but fail support your patently false claim , if fact I should report you for this pretense.
In this thread...
I said:
Quote:
Originally Posted by MikeJaquish
Agreed.
Unmotivated people, or people with no urgency to buy, or weak agents, may need 2-3 days.
I have had and made offers within an hour of viewing. Great offers.
After a leisurely buyer dawdles and loses out on a house or two in multiple offer situations, they learn they need to be nimble and quick and decisive, and to have their ducks in a row.
You quoted it and replied:
Quote:
Originally Posted by evilcart
Your quick full price sale was not full price. Every time you limit your buyer pool you reduce the return for your seller. Now you may not like it, you may wish to pretend that you are special; that you are some magical outlier, but you are not.
It is very simple. By providing a little extra time you increase your buyer pool. And while each and every sale will vary, providing that little bit of extra time does of course increase the average sale price.
Perhaps you don't care about getting that last 2-3% but that does not change how markets work. Not today and not likely tomorrow either.
LOL I don't claim to be a magical, special, outlier, but I can generally remember what I post an hour or two later.
If the owner doesn't get a good offer in a week there's something wrong with the place or it's overpriced. Caveat being homes priced in the top 10% for the neighborhood. Those houses might take a while to sell and that is normal.
LOL I don't claim to be a magical, special, outlier, but I can generally remember what I post an hour or two later.
Oh I see, so you are pretending to think that my use of the word "your" means I am talking about a property you sold....
See the problem with that nonsense is that I have NO idea who you are , where you live or what if any properties you have or have not managed to sell/buy.
I believe that most people reading my comment would have interpreted it in the generalized sense that it was intended.
But given that you had no answer you instead are trying to pretend you thought otherwise....
So I stick with what I said a couple of posts ago. Nice try though.
That is why, evilcart, a person should use "one" when meaning either someone or anyone rather than "your" which refers to the last person who would be listening or reading. Then MikeJ would not have had to defend himself. Just basic English grammar rules.
That is why, evilcart, a person should use "one" when meaning either someone or anyone rather than "your" which refers to the last person who would be listening or reading. Then MikeJ would not have had to defend himself. Just basic English grammar rules.
Yeah but one sounds so snobby, when I use it in conversation I find people pass comment and from time to time slag me off about it. But perhaps that is just the class of folk I hang around with
I am no real estate guru, but here's how I managed to do it in a neighborhood with a very hot market going on due not only to the present hot market, but also due a recent turn of events in that neighborhood.
On May 1st at around 7-8 PM I saw a real estate agent putting up a "For Sale" sign on the house next door to a dear friend of mine. I had NO idea of the size of house or price, but had been trying to get a house on that block to be near to him, for about a year with no luck.
I e-mailed my own real estate man immediately with the info on the sign, and he got back to me within 3 minutes. He called the seller's agent nonstop until she finally answered around 9-10 PM. He got me in for the first showing, May 2nd at 1 PM.
While we stood outside for ten minutes waiting for the seller's agent to arrive and open the house for the showing, two cars driving by stopped, acted interested, asked the price, and so on. My agent fielded all the inquiries without making the house seem too desirable. I kept my mouth shut and let him handle the other buyers.
The house was perfect and the price reasonable. After seeing the house, we told the seller's agent (who was there) that a full price cash offer was on the way ASAP. We went straight to my agent's office and did the paperwork for the offer. By the time the seller's agent got the offer (about 4 PM on the 2nd), the house still wasn't even on the real state agents' version of the MLS.
Because they needed a signature of somebody traveling in Denmark, it wasn't accepted until the evening of the 3rd, and believe me, I was in torment! But it was accepted, and the house is mine now.
So, that's how I managed to do it. I never did anything like that before in my life, and I admit it was pretty exciting!
From what I've noticed, it seems that frequently a real estate office will put the sign up on the property but not put the house on the MLS for a week or so. I suppose that gives them a chance to sell it as a dual agency (which is allowed in our state, I don't know if they do it in all states). If they can sell it as a dual agency (representing both the seller and buyer) then their office gets all the commission and they don't have to split it with another realty office. If you can find a house where it has the sign but isn't on the MLS, then you can be way ahead of the crowd.
Any advice on how to be on the opposite end of this?
You could keep track of the progress of the listing by following it online pretty much 24/7. When an offer is accepted there will be a notation in the listing. Then you won't waste your time. A good agent is typically on top of this for you too. Even better, if your agent is sharp he will know of properties that aren't listed yet but are about to. If one of them matches what you're looking for she might be able to show it to you before the place is on the radar. That gives you a chance to swoop in first. But you've got to go in strong.
Last edited by LiaLia; 03-03-2016 at 11:10 AM..
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