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Hi Vicki, I saw in your post that you are a realtor in Raleigh, I live in Michigan right now and am planning on moving somewhere round Charlotte. I've talked to realtors down there who keep telling me the market is great blah,blah,blah. I was just wondering what your opinion on how the housing market is. My husband is also self-employed (siding subcontrator) so this is a very scary move. We don't want to get there and find out that it's not much better there. although I don't think it could be worse than Michigan is right now. All our builders are leaving state because it's so bad here. The average house sits on the market for at least a year.
The Market is terrible. Have you tried burying the statue of ST. Joseph? It should be blessed and buried upside down in your front yard facing the street.I know people who swear by this. I used it also and it worked. Good Luck
I think it is using the statue to focus your prayers that does it not the actual statue. I thelps to be Catholic too...
We did it, we are in contract, waiting for buyer to get morotgage committment, we sold for way lower than we expected. the harsh reality is that last year's prices are truly last year's prices.. I hope the new construction prices in NC go down too, for our sake!
The Market is terrible. Have you tried burying the statue of ST. Joseph? It should be blessed and buried upside down in your front yard facing the street.I know people who swear by this. I used it also and it worked. Good Luck
Did it, a few months ago, maybe it works better if you are Catholic?
Sorry to hear your house isn't selling. The market isn't as hot as it used to be (despite what realtors will tell you, it is common sense, look at how many houses have been on the market, one here for over a year and no bites). Then again that is good for us buyers.
As far as FSBO, that is the only way I would go for selling. No offense to any realtor either. Buying is different and we will be using a buyers agent to buy our home, but selling, it isn't necessary unless you are running in to trouble. My dad sold our old house in 2 weeks of just listing it in the paper FSBO. Then when my parents went to purchase the house they have now, the person selling had an agent, but my parents did not. They found the house they wanted, however, it was over the price they wanted to pay. So my dad told the realtor that she would have to take less commission. She didn't like that, but guess what... she only got 3% not 6% to put the house in my parent's price range.
After trying to buy a house for over 3 years, going to all of the seminars I can squeeze into my schedule and dealing with about 10 different real estate agents up and down the east coast I have found that it really just depends on you, how badly you need to sell, and that all agents are different. I had an agent recently tell me that I couldn't get a rental in Raleigh area in my price range, I had another agent send me like 10. So it all depends on the character of the agent. Either they honestly want to help you, or they want to help themselves.
My personal advice, is just go to the local library and read more about FSBO and how to do it better than what you may already be doing (I don't know how you are going about it) that is all my dad did. Good luck!
FYI...the seller pays 6% to list the house. 3% goes to the listing agent and 3% goes to the selling agent. If the listing agent does both parts of the transaction...I always lower my fee but I give the discount to my seller! Even thought I'm working as a "dual agent", the seller is my first loyality.
I also think, in certain markets, you can FSBO. But if your market isn't hot...you are going to run into trouble, unless you have the patience of JOB and the time to do it right. Stats prove that an agent can have the house sold in l/2 the time. And the reason you get so many calls from agents is that this is where the new agents get their listings. Again...stats prove that most FSBOs list after 30 days. They say its "too much work". Now could that be WHY we get paid? Hey...I'm not going to paint my house...I want a professional to do it!
Vicki
I am in the same boat. I have had my house listed with two realtors, but no bites. Unfortunately, my new job started and I have had to leave without my family. My husband is staying to sell the house. Homes just are not moving as fast as the once were. I have tried everything - lowering the price, offering a golf membership and now I am considering a rent with the option to buy agreement. It is rough, I agree.
If you are not on the MLS find one of those places that will list it for you for $300-$500. That is probably the best advertising money you will spend as it will help level the playing field a little with those that are represented by real estate agents. A lot of them will get you on link removed as well which does not hurt. Most likely you will end up having to negotiate and give a real estate agent a certain percentage if the buyer is represented by one. If you are waiting for a buyer who is not represented by an agent... you might be waiting a while most buyers work with agents especially if they are new to a certain area. Reasoning is people buying homes don't directly pay anything to be represented by an agent, the seller is responsible for both the buying and selling commissions. Kind of backwards system but it is what it is. Another option would be to go with a help-U-sell sort of place if you are somewhat intimidated by the paperwork involved in selling your own home or there are places similar that will do all your document work for you for a fee. link removed is a good resource for a lot of this. Good luck, the market is changing quite a bit so just try and be patient.
I disagree. Sorry. While on paper the seller pays 6% it realy is true. The buyer really pays the 6% and ALL agents are taught this in school (insert wink). Seller pays 6% and wants $500,000 for the house. He knows that $30,000 is going into fees. So if buyer wants to bid say $30,000 lower, the seller might think about it. But, if the seller only had to pay 5% there is $5,000 room. He has something to work with. So, in the end, the buyer pays the fees. Sellers? How often have you said how much is net costs? Then the agent said "x" and you said raise the price of the house to cover the fee? See my piont? Buyer pays. Remember, the reason the "seller" is listed and I word it right "listed" as the party to pay the 6% is because they are the one with the property and it is easier for escrow to get the money from the house. Class over!
As for loyality to seller. DRE would frown at that! It should be equal, or relief yourself as one of the agents.
Hi Vicki, I saw in your post that you are a realtor in Raleigh, I live in Michigan right now and am planning on moving somewhere round Charlotte. I've talked to realtors down there who keep telling me the market is great blah,blah,blah. I was just wondering what your opinion on how the housing market is. My husband is also self-employed (siding subcontrator) so this is a very scary move. We don't want to get there and find out that it's not much better there. although I don't think it could be worse than Michigan is right now. All our builders are leaving state because it's so bad here. The average house sits on the market for at least a year.
Hi Cassie,
Sorry I can't speak for the Charlotte market as I'm in Raleigh. We are busy right now, but it is spring. Most of the areas in North Raleigh sell pretty quickly, if priced right. I listed two townhouses ($139,900 and $142,900)in a very good area of Raeligh and they both sold in less than 2 weeks. I just listed a house for $179,900 in an area that doesn't sell too quickly but time on the market, based on comps, is still only 2 months. I just can't speak for Charlotte but if you have questions about Raleigh or Cary or Johnston County, I don't mind at all. Vicki
I disagree. Sorry. While on paper the seller pays 6% it realy is true. The buyer really pays the 6% and ALL agents are taught this in school (insert wink). Seller pays 6% and wants $500,000 for the house. He knows that $30,000 is going into fees. So if buyer wants to bid say $30,000 lower, the seller might think about it. But, if the seller only had to pay 5% there is $5,000 room. He has something to work with. So, in the end, the buyer pays the fees. Sellers? How often have you said how much is net costs? Then the agent said "x" and you said raise the price of the house to cover the fee? See my piont? Buyer pays. Remember, the reason the "seller" is listed and I word it right "listed" as the party to pay the 6% is because they are the one with the property and it is easier for escrow to get the money from the house. Class over!
As for loyality to seller. DRE would frown at that! It should be equal, or relief yourself as one of the agents.
Sorry Tornadoalley but I disagree with you. The seller is responsible for paying the Real Estate Agent's commission. In the long run, yes, probably the buyer does pay a portion of it in the price of the home, but most FSBOs want their cake and eat it too. They don't want to pay a Realtor but they want to list their home at what it will sell for. I doubt they will give any extra discount to the buyer. So if you are assuming that the price of the commission is in the price of the home, thats probably true. But again, FSBOs aren't going to lower their home 6% so who gets the extra???
Good luck with that! We haven't done an open house, that's something to consider. I read somewhere that open houses were a waste of time, and don't bother. I'm glad to hear different. And you're right, it all takes patience.
I read somewhere that only 5% of homes are sold thru open houses. Not really sure how accurate that number is though.
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