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I was worried about you, Heidi. Glad to see you are merely slow to troll with a classic Heidi copy/paste, but still kicking.
Don't lie about what agents do. And, if you actually had any real estate experience, you would know a great many buyers who have bumped into inept FSBO sellers avoid them due to bad experiences.
Just the usual personal attack from a "professional commissioned salesperson" when they feel threatened. I encourage anyone to read the stories on CD, and other places, about the level of ethics when they want your equity and steer buyers away if they can't get it. Keep it for yourself, you earned it.
Filling out a standard form doesn't require any more than a GED so no need to pay thousands just because they have lobbyist.
Just the usual personal attack from a "professional commissioned salesperson" when they feel threatened. I encourage anyone to read the stories on CD, and other places, about the level of ethics when they want your equity and steer buyers away if they can't get it. Keep it for yourself, you earned it.
Filling out a standard form doesn't require any more than a GED so no need to pay thousands just because they have lobbyist.
LOL
You pop-up to troll over your head on a topic with which you show no experience and no knowledge, and feel attacked when your banality is not adequately revered.
If you had any clue or wanted to offer value, you might try to contribute to interesting real estate discussions, on real estate topics, rather than copy/pasting the same shallow crap when you get a google alert that the big kids are talking.
I routinely help buyers with FSBOs who breach their contract because they don't understand what they are doing, what they have agreed to, or what they expose themselves to. That is a fact.
And, IF you were informed on CD, you would see that most agents who post here don't hesitate to approach FSBO listings. Fact.
And, IF you ever read the CD forums to learn, you would see the huge volume of guidance provided to posters who are confused, worried, misled, and just need a nudge in the right direction. Guidance given freely, often by experienced agents who enjoy helping people.
And, IF you were to ever work a FSBO as an agent, you might find yourself telling your buyer clients that you would have to reach across the table and help the other side more than commonly acceptable, because they don't know what is in the standard forms, even with education beyond a GED.
"Threatened?"
"Fear The Inane Copy/Paste!"
What would you copy/paste as an intelligent response to the case in this post?
Quote:
Originally Posted by MikeJaquish
I'm blackballing horseradish cheddar after an encounter last week...
Here's how FSBOs often mess up a sale, although in this instance I don't know if there is more to the game plan.
But, 20 and 30 days on Craigslist speaks volumes in a market where houses sell in a whirlwind, sight unseen, etc.
1. No address, but mapped to show it sits right on a heavily-trafficked main thoroughfare, while claiming to be on a cul-de-sac.
2. 2 photos, showing almost nothing. No interior photos. No floor plan.
3. No website offering mandatory disclosure forms.
4. "Flat Fee Only Agents?" I suppose I would qualify if I came in with a $25,000 "flat fee," perhaps?
I.e., all in all, not really focused on selling for best price. Focused on privacy and costs instead.
Here is the original posting from 30 days ago, after which the owner apparently decided the awful photos were showing too much. https://raleigh.craigslist.org/reo/d...328823287.html
It had no demand for only flat fee agents. Must have had too many people trying to buy the place against the owner's will.
And, apparently, the house was moved a few miles between 6/27 and 6/29.
IF you have a house on the market in that area for a month and it isn't sold, you are definitely doing something wrong. No one is blackballing. No one sees value, or the seller is pushing people away instead of engaging them properly.
First of all, there is no boycott. I currently have 2 fsbo's under contract. If you aren't getting calls, you have exposure issues. A good listing agent fixes that. You've hired a rookie that doens't know anything about real estate (yourself). Do you care more about the commission you pay or what you walk away with? (the answer should be your bottom line matters more than the expenses)
You're probably going to pay a buyer agent, so really the discussion is about half a commission for a good listing agent. It's quite possible a good listing agent can create a bidding war or negotiate the money right now justify the $7500 expense, and they take the work and stress off of you. Really, it's impossible to know for sure, so you just have to make the decision that's best for you.
I'm not telling you that you need or don't need an agent. Are you willing to learn on the job and maybe save a few bucks, or is better to just hire someone to do it for you? It's why I pay professional contractors even on things I could do myself. They save my time, and frankly do a better job than I could. (landscapers, painters, car mechanics, etc)
Don't disagree with that. Everything you mentioned is absolutely correct.
But here's the question - is that expertise worth 3% of the value of a property? Are you getting a good value for your money when you give $9000 to an agent to sell a $300,000 property?
Let's say a senior agent's expertise is worth $50/hour. Did that agent spend 180 hours selling that $300,000 property? In some cases that might be true, if it is a difficult property in a difficult market. But in today's hot market a property might sell in a day. Was that agent's effort still worth $9000?
For a less skilled or brand new agent, their value to the seller is probably far less than $50/hour. Let's say it's $30/hour. In that case, did the rookie agent spend 300 hours selling your property?
This is the problem with the contractor analogy. If I am seeking a contractor, I can get several quotes for their services and choose the one which has the best value to me.
Personally, when I'm doing a FSBO, I couldn't care less if the local realtors want to show my house. If they call me, I simply tell them that my price is what I want out of it, and if they can find a buyer who is willing to add their commission onto my price, then they're welcome to show it.
I also tell them that I'm not interested in paying any points or dealing with buyers who have little or no down payment and have to borrow their closing costs from their grandmother.
Besides, the majority of people who do come to look at my FSBO are typically working with a realtor who hasn't been able to find them anything yet. They welcome the opportunity to deal straight up with an owner without worrying about who is REALLY paying the commission. Yes, the closing statement will typically show that the seller is paying the commission, but most of the buyers are smart enough to figure out that without a commission to be paid, then there's a fair chance that they'll save at least a portion of that fee.
Don't disagree with that. Everything you mentioned is absolutely correct.
But here's the question - is that expertise worth 3% of the value of a property? Are you getting a good value for your money when you give $9000 to an agent to sell a $300,000 property?
Let's say a senior agent's expertise is worth $50/hour. Did that agent spend 180 hours selling that $300,000 property? In some cases that might be true, if it is a difficult property in a difficult market. But in today's hot market a property might sell in a day. Was that agent's effort still worth $9000?
For a less skilled or brand new agent, their value to the seller is probably far less than $50/hour. Let's say it's $30/hour. In that case, did the rookie agent spend 300 hours selling your property?
This is the problem with the contractor analogy. If I am seeking a contractor, I can get several quotes for their services and choose the one which has the best value to me.
$30/hour for a contractor, any agent, is about minimum wage, if that. And, I'm not talking about $15/hour minimum. $50/hour is hardly better.
Don't disagree with that. Everything you mentioned is absolutely correct.
But here's the question - is that expertise worth 3% of the value of a property? Are you getting a good value for your money when you give $9000 to an agent to sell a $300,000 property?
Let's say a senior agent's expertise is worth $50/hour. Did that agent spend 180 hours selling that $300,000 property? In some cases that might be true, if it is a difficult property in a difficult market. But in today's hot market a property might sell in a day. Was that agent's effort still worth $9000?
For a less skilled or brand new agent, their value to the seller is probably far less than $50/hour. Let's say it's $30/hour. In that case, did the rookie agent spend 300 hours selling your property?
This is the problem with the contractor analogy. If I am seeking a contractor, I can get several quotes for their services and choose the one which has the best value to me.
Exactly, and their "expertise" is hardly worth what the salespeople claim they are worth. People are waking up to the scheme and their lack of real value. There is little education requirements to be a salesperson so how do they think they should be paid more than a highly qualified, well educated, real estate lawyer who can do a better job in less than an hour which is why they have to rely on percentages instead of real value.
Exactly, and their "expertise" is hardly worth what the salespeople claim they are worth. People are waking up to the scheme and their lack of real value. There is little education requirements to be a salesperson so how do they think they should be paid more than a highly qualified, well educated, real estate lawyer who can do a better job in less than an hour which is why they have to rely on percentages instead of real value.
Gosh, Heidi.
I have yet to meet an attorney who crawls under as many houses as I did last month to help clients avoid expensive mistakes.
Perhaps a referral would help me?
Attorneys hire me for my expertise, refer me to friends and family, and they all have GEDs or more.
They're smart enough to hire a great agent.
Personally, when I'm doing a FSBO, I couldn't care less if the local realtors want to show my house. If they call me, I simply tell them that my price is what I want out of it, and if they can find a buyer who is willing to add their commission onto my price, then they're welcome to show it.
I also tell them that I'm not interested in paying any points or dealing with buyers who have little or no down payment and have to borrow their closing costs from their grandmother.
Besides, the majority of people who do come to look at my FSBO are typically working with a realtor who hasn't been able to find them anything yet. They welcome the opportunity to deal straight up with an owner without worrying about who is REALLY paying the commission. Yes, the closing statement will typically show that the seller is paying the commission, but most of the buyers are smart enough to figure out that without a commission to be paid, then there's a fair chance that they'll save at least a portion of that fee.
This is how I feel. BTW, this thread went to hell quickly!
Dealing with someone one-on-one when there is an item at stake for mutual benefit is better IMO. I'm in
business and handle procurement and contracts daily, as well as all these "wonderful" pushy salespeople.
Seller wants to save commission, maximize profit, but as a result, will be more willing to lower the price SOME in order to deal with the buyer directly, build a rapport, and have a more direct transaction only involving a lawyer or title company as other parties.
When you add the realtor in, as in I'm about to do, I had to tell them they're going to have to get above, at, or very close to asking price. My minimum walk away with # isn't freedom for them to just get a buyer to drop their offer to that, as I will still counter. I'm most definitely passing all of these fees to the buyer in the cost. Just like in supply chain, the more middlemen you eliminate, the better deal everyone gets.
This is how I feel. BTW, this thread went to hell quickly!
Dealing with someone one-on-one when there is an item at stake for mutual benefit is better IMO. I'm in
business and handle procurement and contracts daily, as well as all these "wonderful" pushy salespeople.
Seller wants to save commission, maximize profit, but as a result, will be more willing to lower the price SOME in order to deal with the buyer directly, build a rapport, and have a more direct transaction only involving a lawyer or title company as other parties.
When you add the realtor in, as in I'm about to do, I had to tell them they're going to have to get above, at, or very close to asking price. My minimum walk away with # isn't freedom for them to just get a buyer to drop their offer to that, as I will still counter. I'm most definitely passing all of these fees to the buyer in the cost. Just like in supply chain, the more middlemen you eliminate, the better deal everyone gets.
Gotta close the deal, or it's "no deal," right?
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