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Old 03-22-2024, 08:07 PM
 
Location: Rochester, WA
14,458 posts, read 12,086,413 times
Reputation: 38975

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All the best!
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Old 03-23-2024, 07:26 AM
 
Location: Florida & Arizona
5,977 posts, read 7,367,852 times
Reputation: 7593
Quote:
Originally Posted by Diana Holbrook View Post
All the best!
Thanks, Diana!

This is a perfect example of an instance where it's just plain silly not to go with an established real estate brokerage.

RM
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Old 03-28-2024, 08:27 AM
 
7,747 posts, read 3,785,899 times
Reputation: 14651
Quote:
Originally Posted by MikeJaquish View Post
Fact:
There ARE unethical agents ...
Wait. There are unethical agents? In the real estate industry???

I'm shocked. SHOCKED, I tell you. Round up the usual suspects.

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Old 04-11-2024, 03:43 AM
 
Location: Florida & Arizona
5,977 posts, read 7,367,852 times
Reputation: 7593
Follow-up time:

Signed a listing contract a week ago Monday. A team of people from the brokerage came over on Tuesday and staged, photographed and did the virtual walk-through. Wednesday morning it went live on our local MLS.

The second showing clients on Wednesday bought it at list price for cash. They just sold a much larger home and have the cash proceeds from the sale. They wanted 10 days, we told them the 29th, which they agreed to.

We ended up getting top dollar for our home with minimal effort on our part other than having to clean out the house and make it presentable. Far better than a flat fee listing, definitely better, like $50,000+ better, added to our net as a result.

Fees? Our agent got 3%, the buyer’s agent 2.5%. Money well spent. We’ll have Florida in our rear view mirror in another week and a half, or thereabouts.

RM
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Old 04-11-2024, 08:36 AM
 
7,747 posts, read 3,785,899 times
Reputation: 14651
Quote:
Originally Posted by MortonR View Post
Follow-up time:

Signed a listing contract a week ago Monday. A team of people from the brokerage came over on Tuesday and staged, photographed and did the virtual walk-through. Wednesday morning it went live on our local MLS.

The second showing clients on Wednesday bought it at list price for cash. They just sold a much larger home and have the cash proceeds from the sale. They wanted 10 days, we told them the 29th, which they agreed to.

We ended up getting top dollar for our home with minimal effort on our part other than having to clean out the house and make it presentable. Far better than a flat fee listing, definitely better, like $50,000+ better, added to our net as a result.

Fees? Our agent got 3%, the buyer’s agent 2.5%. Money well spent. We’ll have Florida in our rear view mirror in another week and a half, or thereabouts.

RM
Did you start out offering 1% and negotiate up to 2.5% ?
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Old 04-11-2024, 08:40 AM
 
7,747 posts, read 3,785,899 times
Reputation: 14651
Quote:
Originally Posted by Diana Holbrook View Post
There's no express termination at will. Legally, they'd have to wait for it to expire.
Isn't that subject to negotiation? That provision is one I would cross out.
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Old 04-11-2024, 08:52 AM
 
Location: Florida & Arizona
5,977 posts, read 7,367,852 times
Reputation: 7593
Quote:
Originally Posted by moguldreamer View Post
Did you start out offering 1% and negotiate up to 2.5% ?
I did nothing, I let the broker choose the commissions. Understand that:

1.) Time is of the essence; and,

2.) Our net will be so much more than we expected due to recent market fluctuations that quite frankly, I don't care what the broker sets for the commission amounts as long as it's reasonable and customary. I'm good with the numbers they proposed.

And I would add that this brokerage is very, very, very good at what they do, and as Mike and others have pointed out, if you go with a more expensive broker, you get what you pay for. We are. Many times over.

This is a perfect example of paying a premium for premium service. Our expectations have been exceeded up to this point, so we're perfectly satisfied with the costs involved.

RM

Last edited by MortonR; 04-11-2024 at 09:04 AM..
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Old 04-11-2024, 09:37 AM
 
Location: Columbia, SC
10,966 posts, read 21,974,961 times
Reputation: 10659
Congratulations and thank you for the follow-up.
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Old 04-11-2024, 11:22 AM
 
7,269 posts, read 4,210,249 times
Reputation: 5466
Quote:
Originally Posted by MortonR View Post
I did nothing, I let the broker choose the commissions. Understand that:

1.) Time is of the essence; and,

2.) Our net will be so much more than we expected due to recent market fluctuations that quite frankly, I don't care what the broker sets for the commission amounts as long as it's reasonable and customary. I'm good with the numbers they proposed.

And I would add that this brokerage is very, very, very good at what they do, and as Mike and others have pointed out, if you go with a more expensive broker, you get what you pay for. We are. Many times over.

This is a perfect example of paying a premium for premium service. Our expectations have been exceeded up to this point, so we're perfectly satisfied with the costs involved.

RM



You wound up being dream target customer for the real estate profession since you don't care what the broker sets for commission amounts. That's an 180 degree about face from your first post. If you were gauging everything by what opendoor offered you - you should have done some more homework as their business model is to make lowball offers and see who bites. They then turn around and sell it to someone who would have been your ultimate customer. You gave up equity for convenience. If your listing firm didn't bring in the buyer on their own - it was a plain vanilla co-broke.
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Old 04-11-2024, 11:32 AM
 
Location: Florida & Arizona
5,977 posts, read 7,367,852 times
Reputation: 7593
Quote:
Originally Posted by illtaketwoplease View Post
You wound up being dream target customer for the real estate profession since you don't care what the broker sets for commission amounts. That's an 180 degree about face from your first post. If you were gauging everything by what opendoor offered you - you should have done some more homework as their business model is to make lowball offers and see who bites. They then turn around and sell it to someone who would have been your ultimate customer. You gave up equity for convenience. If your listing firm didn't bring in the buyer on their own - it was a plain vanilla co-broke.
It certainly is, I'll be the first to admit we were totally caught off guard by the wild machinations in our market in the first quarter of the year. Interestingly, when I interviewed the agent I asked them what their thoughts were about the first quarter market, and they said, "Weird."

They presented numbers, I know this brokerage as being a "premiere" type of brokerage (which is why I chose to consider them) so I was very comfortable when the numbers they showed us were far and beyond what we expected. This also confirmed that going the fixed fee or OpenDoor route would be silly and waste a ton of our own time and effort (which has value, too!)

I knew if they felt comfortable with the numbers then we were, too, we were very clear about our desire to price the propery competitively, and not for the absolute last possiblyb penny we could get from it. With that in mind, I can't help wonder if we left money on the table, but to be honest, we're very happy with how the deal went down, which is really all that matters, isn't it?

I'm getting ready to retire soon, and when I do, I'll have time to devote to things like this, meaning that I may very well use the flat-fee or OpenDoor approach to sell my remaining properties because I'll have time to deal with it.

RM
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