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Assuming a house is ready to show, it's good to have buyers THAT interested.
However, our agent always told us that if you let one person see it before the actual list date, FHA rules require that you allow anyone who asks to see it. You can't just pick and choose.
But I would direct anyone who inquires to my agent. I wouldn't just let someone in myself.
Seems to me if the house "needs work" and you think that you'll get a "lowball" offer, this would be a good way to test the market.
Do YOU think the house is overpriced?
Staging might boost the price of an already good house but I don't think it will hide one needing work.
Funny, I had a couple who wanted to see my mother's house before it was officially listed. My first thought was "They'll be paying full or more than full price". Not suspecting they'll be trying to lowball. They were tricky they tried that after the inspection.
So if you accept an offer make it clear what your limits are.
That being said, I bought my condo before it was listed and offered 4% less than the asking because it was in the beginning of the crash and all the diving comps supported that. In fact, I shouldn't have bought it at all, looking back LOL. I lost 60% at the bottom before it came back up this past year.
This agent mentioned they have all cash buyers which would be good for a quick closing but they'll likely want to pay less than an owner occupant would .
When I heard my agent mention a stager I was thinking staging in regards to furniture but the stager was talking about doing updates such as flooring , paint , painting worn cabinets, etc .
She recommended moving out the furniture I have left .
Ill have to see what I'm going to do , I'd be willing to spend some money but mostly was thinking to sell pretty much as is .
The house isn't in an area where all the homes are newly updated .
I'll also have to see if the list price my agent mentioned was based on pretty much as is in current condition or after doing paint and updating .
Oh wow glad that you home value finally came back up . Luckily I bought during the housing crash so that helps . I did do some updates to the home when I bought it but not a full remodel .
Assuming a house is ready to show, it's good to have buyers THAT interested.
However, our agent always told us that if you let one person see it before the actual list date, FHA rules require that you allow anyone who asks to see it. You can't just pick and choose.
But I would direct anyone who inquires to my agent. I wouldn't just let someone in myself.
Yeah it's not ready to show since I still have some stuff there and there are some obvious type things I know need to be done at a minimum . Inventory seems very low from what I've been reading .
That's interesting about the FHA rules hadn't heard that before .
Yeah it's not ready to show since I still have some stuff there and there are some obvious type things I know need to be done at a minimum . Inventory seems very low from what I've been reading .
That's interesting about the FHA rules hadn't heard that before .
It's more likely MLS rules.
But, Fair Housing law could come into play if someone thought you discriminated against a protected class when restricting showings. Any agent should be careful about being perceived in that light. The liabilities are significant.
It is better to proceed in an orderly fashion, IMO.
2 houses ago, I allowed a "pre-showing". I guess that would be a good word for it? We were all good to go with the agency, we just hadn't gone live yet with the listing.
Anyway, the circumstances are little foggy as this was over 10 years ago but a couple was brought to see the home before it hit MLS and such. They love the house and make a full price offer. We accept thinking we just hit lotto.
They schedule a home inspection within days.
Next thing you know the full offer is no longer a full offer. They wanted a price adjustment and credits and concessions and a whole bunch of other crap.
We declined. Turns out that was part of their plan. Offer full price then negotiate after accepted offer and inspection.
Assuming a house is ready to show, it's good to have buyers THAT interested.
However, our agent always told us that if you let one person see it before the actual list date, FHA rules require that you allow anyone who asks to see it. You can't just pick and choose.
But I would direct anyone who inquires to my agent. I wouldn't just let someone in myself.
You should find a more knowledgeable agent. Unless a protected class were involved, that's baloney.
Bottom line, you need to talk to your agent about how best to proceed BEFORE talking to the buyer's (not your) agent any further. And if they contact you, give them your agent's name and contact info and direct them to contact your agent.
Normally I think the best of people and don't see agents as potential cons. In this case one sentence makes me question this agent that wants to show the house before it's live in the MLS. You said you informed this agent of the listing agreement, and s/he did not ask for the name/contact information of the listing agent. Real estate ethics 101--when a client/potential client informs you of a prior agency agreement, you immediately ask for the name of that other agent. This is even more important for a house being listed.
Sorry, I think this agent heard about a potential listing (from your relative) and decided to try to get the listing by lying about a "cash" buyer. When it comes time to close EVERY buyer has "cash." The source of that cash varies between personal funds and a lender's funds.
Sorry, I think this agent heard about a potential listing (from your relative) and decided to try to get the listing by lying about a "cash" buyer. When it comes time to close EVERY buyer has "cash." The source of that cash varies between personal funds and a lender's funds.
This happens SO often.
Quote:
Originally Posted by jackmichigan
You should find a more knowledgeable agent. Unless a protected class were involved, that's baloney.
LOL yes sir. I'll get right on it.
I would doubt my recollection of the conversation before his ability, though, since we did very well on our last sale with him. ¯\_(ツ)_/¯
Normally I think the best of people and don't see agents as potential cons. In this case one sentence makes me question this agent that wants to show the house before it's live in the MLS. You said you informed this agent of the listing agreement, and s/he did not ask for the name/contact information of the listing agent. Real estate ethics 101--when a client/potential client informs you of a prior agency agreement, you immediately ask for the name of that other agent. This is even more important for a house being listed.
Sorry, I think this agent heard about a potential listing (from your relative) and decided to try to get the listing by lying about a "cash" buyer. When it comes time to close EVERY buyer has "cash." The source of that cash varies between personal funds and a lender's funds.
They told me their last listing went into escrow right away with a cash buyer . I looked them up and saw they had a fixer property in a different and more desirable side of town .
Probably not hard to find a cash buyer for a property like that since they would be buying at a discount .
Of course it would be nice to get a cash offer at or close to the asking price my listing agent mentioned but I realize that's not too realistic .
On one side I'm curious about what they might offer but I could see it could make things messy since I have a listing agent.
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