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If your home is priced right, instead of a full realtor, I'd keep it FSBO and offer buyers agent 5%, you'll get much more traffic, as agent does not have to split their commission and they'd be more aggressive in selling your home to prospective buyers in that price range.
The other homes that have sold are diff models that were priced much higher.
23 Kenwood did sell in May 2011 for $385,000 and just sold again. Not sure of the price as they didn't like living in NJ and moving back either to SI or Brooklyn.
If your home is priced right, instead of a full realtor, I'd keep it FSBO and offer buyers agent 5%, you'll get much more traffic, as agent does not have to split their commission and they'd be more aggressive in selling your home to prospective buyers in that price range.
You misunderstand how it works.
1-If nobody knows it's for sale she won't get as many showings even if the commission is higher. Good exposure from an agent with a 3% commission will generally get more showings than a FSBO at 5% with bad exposure.
2-Buyers agents don't try and promote listings that aren't theirs. Most don't even promote one home over another when working for the client.
3-Even if you do have an agent making a hard sale to try and make more money, there is no way to talk a buyer into purchasing a property they didn't want.
4-Nothing trumps price. I'd rather see the property reduced by 2% and give the buyer agent 3% than just giving the buyer agent 5% if that's what the options are.
The other homes that have sold are diff models that were priced much higher.
23 Kenwood did sell in May 2011 for $385,000 and just sold again. Not sure of the price as they didn't like living in NJ and moving back either to SI or Brooklyn.
Did you counter? Maybe 340k isn't all that bad of an offer. I don't know, just asking.
Did you counter? Maybe 340k isn't all that bad of an offer. I don't know, just asking.
Did counter, don't recall at what price. But the realtor started to talk about a home across from us that sold for $350,000. Not even the same model and much smaller than ours.
To recap:
1) we have a seller who has made an asking price for at $370,000
2) a (presumably qualified) buyer made an offer at $340,000
3) a property "across the street" that sold for $350,000.
For the first 4 months we went strictly FSBO and used a discount realtor (3%) for the last 2 months and had some more people look, but nothing serious.
Went the FSBO route, with 3% realtors commission. I had two showings of people not represented by realtors and about a dozen showing with Realtors. I had two offers, one 17% below asking Cash, and another 17% below asking contingent on there house selling. I felt both offers were too low and rejected both. While you can show me comps and say my house is only worth One dollar and 89 cents, I'm not selling for that amount. All the comps I've seen where heated by Propane and my house is heated by Geothermal, big difference in heating costs. I don't have to sell and I'm not selling for less than I think it's worth.
Another delusional seller.
Quote:
Originally Posted by camaro69
Did counter, don't recall at what price. But the realtor started to talk about a home across from us that sold for $350,000. Not even the same model and much smaller than ours.
I felt he really wasn't serious.
There's a lot of bottom feeders in the market right now. And I can't say I blame them. I'd be low balling too if I had the money to buy in this market. If you say no, they are off to the next house in the list. Someone will be in a situation where they really need to sell and will take there low offer.
To recap:
1) we have a seller who has made an asking price for at $370,000
2) a (presumably qualified) buyer made an offer at $340,000
3) a property "across the street" that sold for $350,000.
That looks like a market to me.
True, but in #3 the home was a completely diff model and much smaller. (that home was also on the market for over a year).
The home in my previous posting at 10 Mistletoe might have a buyer and that home is listed for $399,000. That home minus the extention is the same as mine. But the kitchen is older and so are the bathrooms.
Other homes in my development (larger homes) have sold within the last year have gone for $425,000 and up to $462,000.
Went the FSBO route, with 3% realtors commission. I had two showings of people not represented by realtors and about a dozen showing with Realtors. I had two offers, one 17% below asking Cash, and another 17% below asking contingent on there house selling. I felt both offers were too low and rejected both. While you can show me comps and say my house is only worth One dollar and 89 cents, I'm not selling for that amount. All the comps I've seen where heated by Propane and my house is heated by Geothermal, big difference in heating costs. I don't have to sell and I'm not selling for less than I think it's worth.
Another delusional seller.
There's a lot of bottom feeders in the market right now. And I can't say I blame them. I'd be low balling too if I had the money to buy in this market. If you say no, they are off to the next house in the list. Someone will be in a situation where they really need to sell and will take there low offer.
I don't blame them either(bottom feeders) with moving onto the next house and that's what I feel the offer of $340,000 was.
Tell you what, here's my listing and the 2 others in my development.
Say what you will. (just be aware that I live in a development that you're required to pay the $375 per year. That gives you access to the pool club and tennis. So having one in your back yard is not an advantage).
It appears these other properties have not yet sold. Do I have this right?
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