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Old 04-17-2014, 02:39 PM
 
1,212 posts, read 2,298,571 times
Reputation: 1083

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Keep in mind that any potential buyer will likely have an agent and often/most of the times the seller is responsible for paying the buyer's agent. Thus, you might not be saving 6%, but only 3% (or what you can negotiate with an agent). 3% on a 400k house is 12k. I am willing to bet that a good agent can get you an extra 12k on the sales price.

One other option. Hire an agent and price your house at the top end of the market. If the house sells, you net the same. If it does not, then do it yourself with the lower prices (maybe even get some potential leads). However, be very careful with the broker agreement that you can terminate it at anytime and list the house yourself. Also, be upfront with the broker. They deserve the truth.
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Old 04-17-2014, 02:41 PM
 
Location: DFW
40,952 posts, read 49,183,047 times
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Actually seeing very few FSBO's right now.
A high quality agent can push up and maximize the price for the seller.

There is also the Appraisal issue and generation of Multiple offers a good agent can deal with to get the best price.
This is the type of market you don't want a Crappy discount agent who really does nothing for you.

Experience really does pay off today. But that's JMO.
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Old 04-17-2014, 04:40 PM
 
Location: Colleyville
1,206 posts, read 1,535,179 times
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You both make great points- definitely things my husband and I have spent hours talking about... To the point where I feel like we never talk about anything else. I was just looking at one of the MLS sites and 2 more homes in our price range went pending since yesterday and they were both in neighborhoods not considered to be as desirable as ours. One the price seemed on target, but the other was high! 3 bdr are virtually unheard of out here and if they got top dollar for it and a vast expanse of beige tile well then, we need to list yesterday. Of course, who knows what the contract is for. That's the important number!
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Old 04-19-2014, 06:13 AM
 
1,212 posts, read 2,298,571 times
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Quote:
Originally Posted by 4Movingeast View Post
You both make great points- definitely things my husband and I have spent hours talking about... To the point where I feel like we never talk about anything else. I was just looking at one of the MLS sites and 2 more homes in our price range went pending since yesterday and they were both in neighborhoods not considered to be as desirable as ours. One the price seemed on target, but the other was high! 3 bdr are virtually unheard of out here and if they got top dollar for it and a vast expanse of beige tile well then, we need to list yesterday. Of course, who knows what the contract is for. That's the important number!
There is the rub. A real estate agent would probably have the insight on the contract amount, not just the list price. I am not sure they are supposed to divulge, but I assure that those ladies over starbucks discuss actual contract amounts before the sale it final. When I was going after a house, that was receiving multiple offers, my real estate agent had great insight on what to offer to make sure we were the highest. I don't want to get into ethics here- I am just saying that is the reality.
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Old 04-21-2014, 12:19 PM
teb teb started this thread
 
83 posts, read 103,494 times
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i do not have any signs in my yard, nor do I have any pics online. I posted my ad on hotpad.com about 3 days ago which listed the house on 20 other sights. Currently I have 3 showings. The market is BLAZING HOT here in DFW, i fully expect to get an offer by the end of this week.

here in lies the problem. I am learning everything i need to know about FSBO off the internet. i will be utilizing an RE lawyer as soon as the deed is rolling.
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Old 04-21-2014, 12:26 PM
 
1,212 posts, read 2,298,571 times
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Quote:
Originally Posted by teb View Post
i do not have any signs in my yard, nor do I have any pics online. I posted my ad on hotpad.com about 3 days ago which listed the house on 20 other sights. Currently I have 3 showings. The market is BLAZING HOT here in DFW, i fully expect to get an offer by the end of this week.

here in lies the problem. I am learning everything i need to know about FSBO off the internet. i will be utilizing an RE lawyer as soon as the deed is rolling.
Please keep us up to speed on what happens. I would be fascinated as to your results. If you have an offer this week will you have any regrets that you listed the property too low? Do any of the potential buyers have agents? How much money did an attorney quote you to draft the contract, deeds, etc.?
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Old 04-21-2014, 12:32 PM
teb teb started this thread
 
83 posts, read 103,494 times
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Haven't checked the attorney fees yet.

Not concerned about pricing too low, but SLIGHTLY concerned about safety when showing, concerned about finding a place to live there after. Also the timelines, i think everybody that has anything to do with the RE industry is booked.

I know I can do it and the RE attorney will make sure the documents are air tight. I ABSOLUTELY do not want to end up in court later. therefore it will be sold AS IS with the all important "subject to Attorney review" clause
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Old 04-21-2014, 12:51 PM
 
Location: DFW
40,952 posts, read 49,183,047 times
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Quote:
Originally Posted by teb View Post
Haven't checked the attorney fees yet.

Not concerned about pricing too low, but SLIGHTLY concerned about safety when showing, concerned about finding a place to live there after. Also the timelines, i think everybody that has anything to do with the RE industry is booked.

I know I can do it and the RE attorney will make sure the documents are air tight. I ABSOLUTELY do not want to end up in court later. therefore it will be sold AS IS with the all important "subject to Attorney review" clause
You must be from the North. Did you know very few attorney's here review or fill out RE Contracts ? Much different procedure than the east coast.

Security ? Agents can provide secured Lockboxes that record every entry. They will set you up so you see who comes and goes, you approve the showing and you get any feedback.

Supra Systems for Real Estate
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Old 04-21-2014, 02:10 PM
 
Location: Colleyville
1,206 posts, read 1,535,179 times
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We decided to list with an agent if the couple that is interested decides to pass on our house and build like they had originally planned.

So far, we met with 3 agents, and 2 of them were in line price-wise. The third suggested we list significantly lower than the other 2. Spoke with my sister (she and my BIL are both attorneys, they just sold and bought last month)- she said the report on which the lower agent was basing his low price was irrelevant- the one that shows the past selling prices. Thoughts from agents?

We are cautiously optimistic and excited!
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Old 04-21-2014, 02:44 PM
teb teb started this thread
 
83 posts, read 103,494 times
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Quote:
Originally Posted by Rakin View Post
You must be from the North. Did you know very few attorney's here review or fill out RE Contracts ? Much different procedure than the east coast.

Security ? Agents can provide secured Lockboxes that record every entry. They will set you up so you see who comes and goes, you approve the showing and you get any feedback. None issue FSBO
No i'm from texas and have run across several RE attorneys.
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