Where to list my unique home with legal in-law in Central MA (Wellesley: short sale, real estate market)

[CaseyB]

Originally Posted by MikePRU

Not to be argumentative, but I'm not selling anything in my profession. The homeowner, an individual, is selling the asset. I'm just marketing it for them. This isn't the same thing as if Suzanne Sommers is trying to advertise the Thigh Master on your website vs. Joe Shmoe trying to sell his used Thigh Master. If Joe Shmoe hires Arnold Worldwide to market his used Thigh Master is he now not allowed to advertise in the classified section on C-D? In this case, in the end, the one who is really hurt by your rule is the homeowner.

No. Joe Shmoe has to post the ad himself. No companies can advertise. They can have business profiles, though. And you can advertise your services on your home page as well as the realtor icon next to your name.

[MikePRU]

Originally Posted by CaseyB

No. Joe Shmoe has to post the ad himself. No companies can advertise. They can have business profiles, though. And you can advertise your services on your home page as well as the realtor icon next to your name.

That doesn't seem terribly fair to punish the homeowner for using a real estate agent. It's not my website though and therefore not my rules. Thanks for taking the time to discuss them with me.

[batmanandrobin]

Originally Posted by CaseyB

As long as there's no realtor involved, you are welcome to post it in the classified forum here at City-Data.

There is not, and thank you. v/r

[gf2020]

If your house was listed at $500K with a Realtor and you now dropped it by $125K, shouldn't it be at $375K not $425K?

[Valerie C]

Originally Posted by batmanandrobin

In an effort to lower the price significantly, we dropped it by $125K, as a FSBO via Isoldmyhouse.com, now listing it at $425. The commission is 2.0% It has been bank finance appraised to ensure a new buyer can finance it, so that is not the problem.

Just out of curiousity, did you or either of the agents ever suggest that the price should really be closer to 400K than 500K? Was there ever a substantial price reduction before you decided to go FSBO? Being on the market for 2+ years at the same price seems a little strange to me--hopefully you're getting more showings now that you've lowered the price by $125,000....

Originally Posted by batmanandrobin

I think giving an agent/broker 2% (8K) is a fair incentive at this point. I wanted to address this forum for recommendations about 'where' to list this house, other than the standard mls, etc....

While it may seem fair incentive to you, you should be aware that 2% is the absolute lowest "acceptable" percentage that I've ever seen in either the MA or NH mls. Anything lower than that you're shooting yourself in the foot as many agents won't bother to show it unless their buyer specifically requests to see it. 2.5% is the most common Buyer Agent or Facilitator fee, and 3% is what the banks, Fannie Mae, etc. are giving. This is an area that can easily increase the amount of traffic through your house, and unfortunately many sellers would rather do a 10K price drop than increase the agency fee by an additional 3k...

[batmanandrobin]

Originally Posted by gf2020

If your house was listed at $500K with a Realtor and you now dropped it by $125K, shouldn't it be at $375K not $425K?

LOL The realtor had it originally (the 1st realtor) $550.

[batmanandrobin]

Originally Posted by Valerie C

Just out of curiousity, did you or either of the agents ever suggest that the price should really be closer to 400K than 500K? Was there ever a substantial price reduction before you decided to go FSBO? Being on the market for 2+ years at the same price seems a little strange to me--hopefully you're getting more showings now that you've lowered the price by $125,000....

No it has not been listed for that long for $425K. Only since the late summer of 2012. We were off the market about 8mos.


While it may seem fair incentive to you, you should be aware that 2% is the absolute lowest "acceptable" percentage that I've ever seen in either the MA or NH mls. Anything lower than that you're shooting yourself in the foot as many agents won't bother to show it unless their buyer specifically requests to see it. 2.5% is the most common Buyer Agent or Facilitator fee, and 3% is what the banks, Fannie Mae, etc. are giving. This is an area that can easily increase the amount of traffic through your house, and unfortunately many sellers would rather do a 10K price drop than increase the agency fee by an additional 3k...

I actually had one response when we first posted our home at 1%, and it was horrible, "I have a buyer, but won't even tell them about your property because you are offering only 1%'". So at $4000, the realtor did not want to walk up my driveway with someone? So now it's at 2% with a potential $8,500 to the winner and of course it would not be 'enough'.

[tikaram]

Originally Posted by batmanandrobin

So at $4000, the realtor did not want to walk up my driveway with someone?

Yes, because the realtor could walk up someone else's driveway 2 blocks down with potential 8K earnings, for the house in the same price range, you know. Or maybe a house listed for less, so more affordable to his buyer, and realtor still would make more money than you were offering. It makes sense from the realtor's point of view.

(and no, I'm not a realtor myself).

[MikePRU]

Originally Posted by batmanandrobin

I actually had one response when we first posted our home at 1%, and it was horrible, "I have a buyer, but won't even tell them about your property because you are offering only 1%'". So at $4000, the realtor did not want to walk up my driveway with someone? So now it's at 2% with a potential $8,500 to the winner and of course it would not be 'enough'.

I once showed a house that was offering a flat $500 commission. Why? Because I always put my client's needs ahead of my own. I don't even look at the commission field on MLS usually. A lot of other agents think this way though . . .

Originally Posted by tikaram

Yes, because the realtor could walk up someone else's driveway 2 blocks down with potential 8K earnings, for the house in the same price range, you know. Or maybe a house listed for less, so more affordable to his buyer, and realtor still would make more money than you were offering. It makes sense from the realtor's point of view.

(and no, I'm not a realtor myself).

You have a self-professed "unique" home on your hands. Unique homes are particularly difficult to sell. Offering agents a commission lower than your competition only serves to further handicap you.

[batmanandrobin]

Originally Posted by tikaram

Yes, because the realtor could walk up someone else's driveway 2 blocks down with potential 8K earnings, for the house in the same price range, you know. Or maybe a house listed for less, so more affordable to his buyer, and realtor still would make more money than you were offering. It makes sense from the realtor's point of view.

(and no, I'm not a realtor myself).

Ironically I started to post here to look for different ways to sell/market vice the standard MLS, etc. The only discussion seems to be about commissions, not 'hey, nice house' or 'your out to lunch with that price!'.