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I understand company overhead and profit, but it's sad that the appraiser is getting less than half of the fee. I think that's being grossly underpaid for the work they do.
I actually preferred the new model to the old, when I had the option, even with the steep cut. You didn't do any free comp checks (which expose the appraiser to a ton of risk, for nothing), you didn't have to do collections and you didn't have pressure to hit a value. The orders came electronically via email and you got paid every few days, regardless of if the borrower paid the bank or the loan funded or not. You didn't have to market yourself to loan officers. You just got approved to appraise for X bank and then they used you. A lot of independent appraisers work for fee split shops, too, that aren't appraisal management companies, and 50% or less going to the appraiser is common.
I guess it'd be like a bank asking you if you'd take on clients for 1.5% if they were guaranteed to buy a house from you with minimal shenanigans. LOL
I have to add that staging, photos and knowing how to screen are skills I kind of take for granted and if an agent has those skills, that definitely is of value to a home seller. I just wish more agents put more care into their MLS ads.
I find errors and misspellings and useless photos all the time. Like how hard is it to buy a wide angle lens camera so your pic of a bathroom isn't a shot of a toilet, and why is it invariably open? LOL
You do realize that City-Data encourages RE experts to post information. The site is completely o.k. with this. In fact, they give RE agents a cool little yellow moniker saying they are an agent (with specific rules that Bill follows).
I for one appreciate Bill's posts as I've learned a thing or two from him.Please, give it a rest.
Or 5 or 10 things not to mention the constant updates on the RE pulse. It's ok to not like agents, there's many I'm no fan of but not ALL are bad (thankfully).
On edit: We've never staged our homes but and this is a biggie they've always been de-cluttered and CLEAN.
Nothing disgusts us more when we've shopped for a house to walk in and find a sink full of dishes or a filthy kitchen, things floating in a brown ringed toilet, peeling paint around toilet area (usually kids have bad aim) or a nasty bathroom floor or shower. We bought a fixer once that we'd only seen in pictures never in person and when we got there the showers were so caked with scum and dirt it took 3 days per bathroom to clean just the tub/shower, the glass doors took 1 day alone. Make the beds, pick up the toys and such and be "show ready" all the time so at the most all you've got to do is run a quick vacuum or dust mop. turn ALL the lights on in every space that has them, if it's daytime open the blinds and still turn on the lights. Do NOT have the TV or stereo on and try to suspend cooking anything pungent (like fish,curry or fried foods) until after you've got a solid offer on your home. Don't be tempted to light candles or spray as some people are scent sensitive or will think you're trying to cover up something (like cat/dog stained carpet smells). If you can air the place out before showing so it smells fresh and clean. Take as much as you can OFF the counters in the kitchen and bathrooms, it makes the counters look bigger. I could go on and on.
As for the comments above about being harassed by your agent to show your house, selling is one huge inconvenient pain in the rear that one CHOOSES to undertake for whatever reason. You will be interrupted,bothered,have to stop what you're doing and leave at a moments notice and have a stream of strangers walking through your house but that's what it takes to sell in any market. Most buyers have seen many houses before they get to yours and are usually running on a schedule so you've only got one little window of time to make a positive impression.
Use that time WISELY. Unless you're not serious about selling. In that case just follow some of the negative advice that's been posted by others and you're sure to remain for a while.
Or 5 or 10 things not to mention the constant updates on the RE pulse. It's ok to not like agents, there's many I'm no fan of but not ALL are bad (thankfully).
On edit: We've never staged our homes but and this is a biggie they've always been de-cluttered and CLEAN.
Nothing disgusts us more when we've shopped for a house to walk in and find a sink full of dishes or a filthy kitchen, things floating in a brown ringed toilet, peeling paint around toilet area (usually kids have bad aim) or a nasty bathroom floor or shower. We bought a fixer once that we'd only seen in pictures never in person and when we got there the showers were so caked with scum and dirt it took 3 days per bathroom to clean just the tub/shower, the glass doors took 1 day alone. Make the beds, pick up the toys and such and be "show ready" all the time so at the most all you've got to do is run a quick vacuum or dust mop. turn ALL the lights on in every space that has them, if it's daytime open the blinds and still turn on the lights. Do NOT have the TV or stereo on and try to suspend cooking anything pungent (like fish,curry or fried foods) until after you've got a solid offer on your home. Don't be tempted to light candles or spray as some people are scent sensitive or will think you're trying to cover up something (like cat/dog stained carpet smells). If you can air the place out before showing so it smells fresh and clean. Take as much as you can OFF the counters in the kitchen and bathrooms, it makes the counters look bigger. I could go on and on.
As for the comments above about being harassed by your agent to show your house, selling is one huge inconvenient pain in the rear that one CHOOSES to undertake for whatever reason.
You will be interrupted,bothered,have to stop what you're doing and leave at a moments notice and have a stream of strangers walking through your house but that's what it takes to sell in any market. Most buyers have seen many houses before they get to yours and are usually running on a schedule so you've only got one little window of time to make a positive impression.
Use that time WISELY. Unless you're not serious about selling. In that case just follow some of the negative advice that's been posted by others and you're sure to remain for a while.
Great Advice
The photo below is a living room where the furniture was in it's original position. It required minimal staging which the photographer did.
The cocktail and end tables were somewhat cluttered, so the photographer de-clutttered and staged the room so that nothing would be a distraction in the photo.
Last edited by Captain Bill; 04-09-2012 at 09:49 AM..
I guess it'd be like a bank asking you if you'd take on clients for 1.5% if they were guaranteed to buy a house from you with minimal shenanigans. LOL
That makes a lot of sense. If my work load and marketing expenses could be reduced, I could handle double the work, then 1.5% would be great.
Quote:
ReadyFreddy...I have to add that staging, photos and knowing how to screen are skills I kind of take for granted and if an agent has those skills, that definitely is of value to a home seller. I just wish more agents put more care into their MLS ads.
I find errors and misspellings and useless photos all the time. Like how hard is it to buy a wide angle lens camera so your pic of a bathroom isn't a shot of a toilet, and why is it invariably open? LOL
Must be a male photographer
I'm an advanced amateur photographer, having taken a lot of college photography classes, and used to develop my own black and white. However, I'm not as good as the professionals, so some time ago I decided that I would use professional photographers for any listings I took. I know the professional can do so much better than I can, and the extra expense, that I pay for, is worth it to me because it helps the home sell.
The thumbnail below is of a master bedroom by a pro. Notice how the shutters are partially open, and one of the doors open to show the trees outside; plus the light is balanced so as to be able to see outside and inside. Time was limited or we would have staged the bedroom a little better for the photo.
The OP, if he goes FSBO, should "consider" hiring a professional photographer to take photos for him for his internet marketing on Craigs List and any other FSBO sites.
When a buyer spends a lot of time with me, they soon get to hear me complain about the incompetent agents who have incomplete showing instructions, bad or no photos, incorrect information, and no HOA fee information, or outdated information that they copied from an older listing. Plus those who don't return a phone call when I call about their listing.
The list goes on and on. It's all those bad agents that give the industry a bad name because people logically assume that "they're all the same". It's why only 20% of the agents do 80% of the business.
I probably have a worse perception of agents in general from my years working with MLS ads and seeing all the errors. And the occasional ones that would call and argue with an opinion of value. They'd send me their own comps and they'd be single family residences when the subject is a duplex and things like that. Or claim that there should be a higher value due to there being a washing machine in the house (which is not real estate).
I probably have a worse perception of agents in general from my years working with MLS ads and seeing all the errors. And the occasional ones that would call and argue with an opinion of value. They'd send me their own comps and they'd be single family residences when the subject is a duplex and things like that. Or claim that there should be a higher value due to there being a washing machine in the house (which is not real estate).
You mean you can't see the value added by a washing machine
I love that wall color! I don't suppose you have it written down in your notes somewhere??? I'm planning on painting our guest room and have had a terrible time finding a subtle yellow-ish/gold-ish color I like.
On another note, why is everyone so concerned about a lockbox, other then obvious concerns? Don't agents have to key in an agent-specific code, which is trackable? Is there a way to list your home with an agent but NOT use a lockbox? I would think you'd have to be home every time to let them in, yes? Then you have, not only scheduling limitations, but meeting potential buyers, which brings it's own issues (that would also be a concern with FSBO). Just wondering if I'm missing something here with the whole lockbox thing. Is there a way thieves can get into a home with a key pad lockbox?
Quote:
Originally Posted by Captain Bill
That makes a lot of sense. If my work load and marketing expenses could be reduced, I could handle double the work, then 1.5% would be great.
Must be a male photographer
I'm an advanced amateur photographer, having taken a lot of college photography classes, and used to develop my own black and white. However, I'm not as good as the professionals, so some time ago I decided that I would use professional photographers for any listings I took. I know the professional can do so much better than I can, and the extra expense, that I pay for, is worth it to me because it helps the home sell.
The thumbnail below is of a master bedroom by a pro. Notice how the shutters are partially open, and one of the doors open to show the trees outside; plus the light is balanced so as to be able to see outside and inside. Time was limited or we would have staged the bedroom a little better for the photo.
The OP, if he goes FSBO, should "consider" hiring a professional photographer to take photos for him for his internet marketing on Craigs List and any other FSBO sites.
When a buyer spends a lot of time with me, they soon get to hear me complain about the incompetent agents who have incomplete showing instructions, bad or no photos, incorrect information, and no HOA fee information, or outdated information that they copied from an older listing. Plus those who don't return a phone call when I call about their listing.
The list goes on and on. It's all those bad agents that give the industry a bad name because people logically assume that "they're all the same". It's why only 20% of the agents do 80% of the business.
I love that wall color! I don't suppose you have it written down in your notes somewhere??? I'm planning on painting our guest room and have had a terrible time finding a subtle yellow-ish/gold-ish color I like.
On another note, why is everyone so concerned about a lockbox, other then obvious concerns? Don't agents have to key in an agent-specific code, which is trackable? Is there a way to list your home with an agent but NOT use a lockbox? I would think you'd have to be home every time to let them in, yes? Then you have, not only scheduling limitations, but meeting potential buyers, which brings it's own issues (that would also be a concern with FSBO). Just wondering if I'm missing something here with the whole lockbox thing. Is there a way thieves can get into a home with a key pad lockbox?
If you list a home with an agent, you can choose not to have a lockbox, just know that it won't get shown as much. As for lockbox security, the current standard "supra" boxes are tightly controlled & track able. It isn't likely there are many criminals defeating the lock boxes, unless they're the $9.99 " contractor" lock boxes used on bank-owned properties.
Truthfully, your standard home-store lockset ( and doorjamb, for that matter) is only good for keeping honest people out. If you do any research on the subject, you'll likely never sleep comfortably again.
If you list a home with an agent, you can choose not to have a lockbox, just know that it won't get shown as much. As for lockbox security, the current standard "supra" boxes are tightly controlled & track able. It isn't likely there are many criminals defeating the lock boxes, unless they're the $9.99 " contractor" lock boxes used on bank-owned properties.
Truthfully, your standard home-store lockset ( and doorjamb, for that matter) is only good for keeping honest people out. If you do any research on the subject, you'll likely never sleep comfortably again.
That's what I figured. I just read a few comments voicing concern about lockboxes, so I wasn't sure if I was missing something. And, yes, standard doors do tend to give people a false sense of security.
It's not the lockbox people worry about. It's the strangers walking through their bedrooms and bathrooms when they're not home. Yes, the Supra boxes track the agents. It's still creepy to some. It probably doesn't help that shows like House Hunters show home shoppers lying in the beds and opening the drawers and making fun of the decor and stuff.
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I'm planning on painting our guest room and have had a terrible time finding a subtle yellow-ish/gold-ish color I like.
