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Old 01-14-2010, 09:40 AM
 
Location: Marion, IA
2,796 posts, read 5,795,578 times
Reputation: 1595

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Quote:
Originally Posted by adolpho View Post
Tell them to submit proof of funds with offer. Most Realtors would be better off today, if they had 50 Bucks for every "letter of pre-qualification" that couldn't close. Here is a trick I learned from the banks: Make EMD "non-refundable." Let them do their inspections first.
Good luck with that. Banks are not going to do much more legwork w/o knowing what they're investing in. The bottom line is it's a crap shoot with every potential buyer. You WILL have some tire kickers.

This is why realtors get paid. To filter thru all the BS.
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Old 01-14-2010, 09:41 AM
 
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
6,958 posts, read 20,832,120 times
Reputation: 6430
You might call these folks to see what is involved with getting your home in the MLS

Whidbey Island Association of RealtorsĀ®
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Old 01-14-2010, 09:42 AM
 
Location: Barrington
60,361 posts, read 41,262,301 times
Reputation: 19469
Quote:
Originally Posted by Silverfall View Post

Limited representation listings are done as Exclusive Agency listings out here and they feed into IDX systems. We don't discriminate against different business models out here.
Same, here.

The thing to focus on is that the majority of flat fee listings do not get sold and closed.

In my neck of the woods, there is not much difference between one flat fee guy and another. They all get paid upfront, regardless of the outcome.

In my area, most flat fee listings eventually convert to full service or the seller withdraws from the market.
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Old 01-14-2010, 10:28 AM
 
Location: Mount Vernon, WA
35 posts, read 85,636 times
Reputation: 26
Quote:
Originally Posted by middle-aged mom View Post

The thing to focus on is that the majority of flat fee listings do not get sold and closed.

In my neck of the woods, there is not much difference between one flat fee guy and another. They all get paid upfront, regardless of the outcome.

In my area, most flat fee listings eventually convert to full service or the seller withdraws from the market.
Any reasons why selling by owner through flat fee listing do not get sold and closed? The only reason I can think of is the lack of negotiation skills by the owner and hence eventually self-sabotage.
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Old 01-14-2010, 10:31 AM
 
Location: Mount Vernon, WA
35 posts, read 85,636 times
Reputation: 26
Quote:
Originally Posted by adolpho View Post
I used a site that is 100% free, and even gives you free signage and web hosting. The mods deleted it. He must have had a bad day at the Corrections Officer Job Fair.
Maybe you need to read the rules regarding posting? You are advertising for the site so the mods have the right to delete it.

Notice no one else posted any links to different flat fee listing websites? This forum is for discussion, not for free advertisement.
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Old 01-14-2010, 10:49 AM
 
Location: Salem, OR
14,987 posts, read 36,876,426 times
Reputation: 15516
Quote:
Originally Posted by maiden.jade View Post
Any reasons why selling by owner through flat fee listing do not get sold and closed? The only reason I can think of is the lack of negotiation skills by the owner and hence eventually self-sabotage.

Yes. Often not knowing how to price correctly is a big one, and then not knowing how to be reasonable during negotiations is another. Even with a real estate agent, reasonableness is always a good trait in a home transaction.
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Old 01-14-2010, 11:07 AM
 
Location: Mount Vernon, WA
35 posts, read 85,636 times
Reputation: 26
Quote:
Originally Posted by Silverfall View Post
Yes. Often not knowing how to price correctly is a big one, and then not knowing how to be reasonable during negotiations is another. Even with a real estate agent, reasonableness is always a good trait in a home transaction.
Other than paying the flat fee for listing, I'm contemplating on paying more to have them help with transactions, contract, etc. It's an additional fees of generally about $800 to $1000. I think that's money worth spending for my own peace of mine.
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Old 01-14-2010, 11:14 AM
 
Location: Salem, OR
14,987 posts, read 36,876,426 times
Reputation: 15516
Quote:
Originally Posted by maiden.jade View Post
Other than paying the flat fee for listing, I'm contemplating on paying more to have them help with transactions, contract, etc. It's an additional fees of generally about $800 to $1000. I think that's money worth spending for my own peace of mine.

If you haven't sold a house in the past couple of years I would do this. Real estate is a whole other beast these days. You'll want some "backup" to help you out, I think. It's just not as easy as it used to be.
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Old 01-14-2010, 11:27 AM
 
Location: Lake Conroe, Tx
637 posts, read 3,085,046 times
Reputation: 421
Quote:
Originally Posted by maiden.jade View Post
With the economy situation, I have decided to sell my rental property on my own (in Washington state, Island county). I've done some reading and feel comfortable doing it myself. However, I need some directions regarding listing my house in the MLS database. I understand there are websites that offer to list the house in the MLS database for a flat fee. Any catch I need to be aware of? Some websites offer different packages, e.g., MLS listing plus consultation, forms, etc. I'm inclined to go with the full meal deal since this is the first time I'm selling on my own. Also, has anybody have any opinions regarding all the various websites offering the MLS listing service? There are so many sites to choose from and I just want to make sure my money is well spent.

Any input is appreciated.
Yes there are plenty of choices but service?? Lol; you don't get any service; they simply list your home in the local multiple listings service then go back to playing solitare while waiting for the next client/call.

They have no valuable knowledge to pass along to you, you are simply buying a product which gets you exposure onto the local mls, period. Also note and probably most important; if you do not offer the standard commission to buyers agents within that listing you will simply be throwing your money away as no one will come by to show.

This type of "service" works great in red hot markets where all a seller has to do is stick a sign in the front yard and wait a couple of days for a deal to fall in their lap. In a buyers market like we have now where there are lots of active listings competing for few buyers, not so much. You need internet exposure, that cost money so the only ones that can give that to you will be more successful agents as they are the only ones with the $ to spend.

Good luck, expect the unexpected..
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Old 01-14-2010, 02:25 PM
 
Location: Mount Vernon, WA
35 posts, read 85,636 times
Reputation: 26
Quote:
Originally Posted by Lake Conroe resident View Post
Yes there are plenty of choices but service?? Lol; you don't get any service; they simply list your home in the local multiple listings service then go back to playing solitare while waiting for the next client/call.

I'm sorry you had such bad experience with the flat fee listing. When I read the websites, most of them do indicate that the fee of $299 (with most websites) is to help one list their properties in the MLS database. I don't expect any more service so if you had been expecting some form of services, perhaps, you may want to reread the contract you signed with them.

They have no valuable knowledge to pass along to you, you are simply buying a product which gets you exposure onto the local mls, period. Also note and probably most important; if you do not offer the standard commission to buyers agents within that listing you will simply be throwing your money away as no one will come by to show.

Did I say I will not be offering commission to the buyer's agents?

This type of "service" works great in red hot markets where all a seller has to do is stick a sign in the front yard and wait a couple of days for a deal to fall in their lap. In a buyers market like we have now where there are lots of active listings competing for few buyers, not so much. You need internet exposure, that cost money so the only ones that can give that to you will be more successful agents as they are the only ones with the $ to spend.
Isn't listing in the MLS database considered as internet exposure?
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