Buying a house from the seller directly? (RE agent, negotiating, agents)

[Buyer2015]

Originally Posted by Rakin

Can you handle getting through Inspections and repairs? Do you know when you can terminate and for what reasons?

Don't rely on the seller to give you this information.

Although a realtor can be helpful but this information isn't classified, anyone with half a brain can find it and arrange inspection and repairs.

[TurtleCreek80]

Originally Posted by Buyer2015

Although a realtor can be helpful but this information isn't classified, anyone with half a brain can find it and arrange inspection and repairs.

So how does a non-realtor get access to sold comps without access to MLS? Texas is a non-disclosure state. How do you know what to even offer or how to price your house?

[JTC Mom]

Originally Posted by TurtleCreek80

So how does a non-realtor get access to sold comps without access to MLS? Texas is a non-disclosure state. How do you know what to even offer or how to price your house?

Realtors are generally happy to provide CMA/comps before you sign a contract with them. The first couple of times I sold a house I interviewed 3 realtors (each house) before choosing one to list with and each one typically provides a CMA as part of the interview process. I also routinely receive solicitations from realtors offering to provide CMA with no obligation. It isnt cool to waste realtors' time intentionally but they are all used to running comps and it doesnt take much effort for them. You also do see some sold comps in the inspection report but realtors can definitely provide more complete information.

[TurtleCreek80]

Originally Posted by JTC Mom

Realtors are generally happy to provide CMA/comps before you sign a contract with them. The first couple of times I sold a house I interviewed 3 realtors (each house) before choosing one to list with and each one typically provides a CMA as part of the interview process. I also routinely receive solicitations from realtors offering to provide CMA with no obligation. It isnt cool to waste realtors' time intentionally but they are all used to running comps and it doesnt take much effort for them. You also do see some sold comps in the inspection report but realtors can definitely provide more complete information.

That is true if you're the seller. I doubt realtors are that helpful if you're the buyer....

[Rakin]

Originally Posted by TurtleCreek80

That is true if you're the seller. I doubt realtors are that helpful if you're the buyer....

They shouldn't without a Buyers Rep Agreement.

[prasen]

In a sellers market like plano, frisco, what benefits do a realtor bring because the listings are also public and prices hardly go below list price . so should we just go with a agent who gives highest rebate?

[ufcrules1]

Originally Posted by TurtleCreek80

So how does a non-realtor get access to sold comps without access to MLS? Texas is a non-disclosure state. How do you know what to even offer or how to price your house?

In most cases you can check what other homes are listed for in your area and can up with a number.
I'm not an agent and I know exactly what to sell my house for IF i wanted to sell it. Also there are plenty agents out there who will take 2 seconds to run a CMA for you. You can offer to pay one $50 for their time to do it and you would be overpaying them..ha.

[ufcrules1]

Originally Posted by prasen

In a sellers market like plano, frisco, what benefits do a realtor bring because the listings are also public and prices hardly go below list price . so should we just go with a agent who gives highest rebate?

No, go in without an agent and ask the sellers agent to represent both of you. You will have a better chance of getting the property since the agent can double dip on commission.

[pistisan]

Originally Posted by ufcrules1

In most cases you can check what other homes are listed for in your area and can up with a number.
I'm not an agent and I know exactly what to sell my house for IF i wanted to sell it. Also there are plenty agents out there who will take 2 seconds to run a CMA for you. You can offer to pay one $50 for their time to do it and you would be overpaying them..ha.

Sure, you could get a CMA and sell your own home, and potentially save some money, but if this is listed in MLS 1000s of Real Estate Agents can market it for you and bring in multiple offers, and in hot markets like this, likely get a premium for your home, which may outweigh the commission fees. I would be curious to see some statistics on this, comparing Sale by Owner vs Realtor's sold houses.

[TurtleCreek80]

Originally Posted by pistisan

I would be curious to see some statistics on this, comparing Sale by Owner vs Realtor's sold houses.

Nationally, FSBO's sell for 80% of a realtor listed home. They also take longer to sell. This is because most FSBO's price their homes way too high and refuse to come down. They also don't realize the perception buyers have about "stale" properties.

Literally, the only 2 houses in my neighborhood that have been on the market for more than 90 days are both FSBO's. One is completely crazy- their house is a total redo and they are priced at the same $/SF that fully remodeled homes are selling for....they haven't lowered the price since listing in Feb or March. The other finally gave up on FSBO after over a year and is now listed with a major brokerage...the house is already under contract within weeks. I think their FSBO price was close to $300k over the $1.6M it's listed at today.