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Old 03-02-2012, 08:28 PM
 
8,583 posts, read 15,973,875 times
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I think realtors earn every penny they get , but when I already have an eager buyer, it doesn't make sense to pay full commisions.


Its not that hard to Sell By Owner if you have a buyer. I have done this several times with no real problems.
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Old 03-06-2012, 08:23 AM
 
Location: Barrington
63,919 posts, read 46,571,700 times
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Quote:
Originally Posted by jghorton View Post

Competent, professional real estate sales is not as easy as it looks. Plus, as in many fields, there are many 'unprofessional agents' who sometimes give the good ones an undeserved 'black eye'
As in all fields, there are incompetents, fraudsters and goofballs.
This includes doctors, lawyers and indian chiefs down to the guy in the next office who spends a portion of his work day tending to his own business and online whims.
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Old 03-06-2012, 08:39 AM
 
Location: Barrington
63,919 posts, read 46,571,700 times
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Quote:
Originally Posted by kelly237 View Post
I think realtors earn every penny they get , but when I already have an eager buyer, it doesn't make sense to pay full commisions.


Its not that hard to Sell By Owner if you have a buyer. I have done this several times with no real problems.
Just curious- when was the last time?
Back in 2005 all it took to get sold in my area was a sign in the front yard.

7 years later and I do not recall the last time anyone was successful selling by owner unless it was to a close friend or family member.

I bought 30 and sold 29 homes before I got my own license. I did so in all sorts of markets and in different states. Each time, I used a real estate agent. Every agent I hired was worth their weight in gold. Then again, I know how to pick solid gold agents.
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Old 03-06-2012, 11:03 AM
 
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Originally Posted by middle-aged mom View Post
7 years later and I do not recall the last time anyone was successful selling by owner unless it was to a close friend or family member.
In 7 years you have never heard of a FSBO working..
Seriously ??
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Old 03-06-2012, 11:09 AM
 
Location: southwest TN
8,568 posts, read 18,062,063 times
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OP posted in the Triangle, NC forum this morning.

So far as I know, NC also has no-verbal r/e contract. In fact, I do not know of any jurisdiction where verbal r/e contracts are honored.
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Old 03-06-2012, 11:15 AM
 
178 posts, read 539,522 times
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Quote:
Originally Posted by Chrisk327 View Post
In a lot of states that isn't correct for RE transactions.
Perhaps it isn't true in the OP's state, or perhaps it is. Misleading to give "blanket" advice to a poster that verbal agreements are never binding, in my opinion. Just as I wouldn't contact a lawyer for help in buying or selling a home (except for the P&S agreement!), I wouldn't ask my realtor for legal advice. A lawyer can be held liable for wrong advice. A realtor, not so much. Due diligence!
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Old 03-06-2012, 11:18 AM
 
2,401 posts, read 4,671,667 times
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The advantage to yourself (sentiments put aside) in an all business way...
Get the higher price.

Now, if selling to someone you know & feelings involved...
Honor the price, take the cut.

Or go the median way...
See what his appraisal is at, take yours, agree to meet in the middle or the old price (which ever is higher).
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Old 03-06-2012, 01:34 PM
 
Location: Barrington
63,919 posts, read 46,571,700 times
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Quote:
Originally Posted by kelly237 View Post
In 7 years you have never heard of a FSBO working..
Seriously ??
Seriously, as applied to my area.

I also do not recall the last time I saw a flat fee listing close, in my area.

The primary reason is that such properties tend to be seriously overpriced and owners are " testing the waters".

Most of these sellers eventually withdraw from the market and stay put. Those who are motivated to sell eventually list and come to terms with how markets work.

It was a very different scenario back when properties were appreciating at double digits each year. Many who sold by owner then, left money on the table. Some nailed it and did just fine.
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Old 03-06-2012, 11:01 PM
 
8,583 posts, read 15,973,875 times
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Well he has now offered less than the agreed on price . I said no. I would rather stay put for another year and do a few more projects while enjoying the house. I will put it up for sale either later in the summer or fall maybe.

So no more worries about this deal..
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