Unless I was moving to an unfamiliar town and wanted help locating a home or didn't have the time or inclination to show my home for sale. I would not personally pay a fucking dime to a RE agent. IMO it's wasted money.
I had a buyers RE when looking for a home. She knew the "Good" neighborhoods from the ones that could become bad in the future and mediocre. I she was willing to show us homes everywhere but she recommended sticking to a few areas. It was a great decision. The home I bought is still way worth more than what I got it for in 1999, got it back in 99 for a good price and this neighborhood is has no forclosures,or flips or rentals. it was a nice established neighborhood built in 1960-61. No one seems to even be selling homes in this area. The newer areas and places she told me to avoid are now dumpy with renters, forclosures, and values have dropped there since 99. (too many people renting) locations too close to rental apartments etc.. So it pays to have a good buyers RE.
I have bought and sold 2 homes "by owner". 1 townhouse and 1 detached home. Got a good RE attorney who draws up my docs for $1500.00. Thats my only cost. It is easy...
IIRC, $535 in both cases, and that's about where it sold. Re the comment that "it's easy" to sell via FSBO -- that's true in some places, at some times. But of course a FSBO seller will never know if a realtor would have brought in higher bid(s). I have no love for realtors -- came close to suing one once -- but in life, you sometimes compromise. Maybe you've already moved to another state, and lack time to deal with the prior house.
An update on my on selling my house and I would like feedback and opinions please. After interviewing several brokers we were set to meet with one last and she says hey I have a prospective buyer even though your place isn't technically on the market yet. Can you have your house ready tomorrow? Of course I say yes. Do you think that she may just be pulling a fast one to tie up a listing? I have heard agents do that sometimes. When I called her back and said when do you want to bring them over she said they have to arrange us into their showings sometime in the morning. I explained to her that we are motivated but far from desperate as we can easily make out payments. We are just looking to downsize as we won't be having children. Appreciate the constructive feedback. Dan
The more you offer to the buyers side the more likely you are to get more fmv or better. The better your price your house the less you need to spend marketing and less time you spend answering stupid buyer's agents questions and doing open houses. You can afford to be overpriced in an up market because the market comes to the house. Over pricing in a down market is a disaster. some sellers can never emotionally get in front of a falling market. You need to find a smart listing broker who has sold a lot of properties and who is willing to work with you on his commission. If I have a seller who is offering 3.5 to the buyer side and is pricing his property well. I may be willing to take 1 to 1.5% depending on the price of his house. If you price a property below fmv... you see buyers paying through the listing price. Its all about creating demand.
Do you think that she may just be pulling a fast one to tie up a listing? Almost makes you wish she never said that, you just don't know. Why couldn't a realtor have buyers on the back burner. They could, right location, right price, buyers in no hurry not too motivated. If you think sleazy sales tactic, very well could be or you might have an energtic sales person. She said something more than anyone else. Offer you a morsel of hope. ---------------- When we had this re bubble, trying to take advantage of high prices (hence I wasn't very motivated to sell) I interviewed 4 brokers. I listed with who I liked. This is the person I had to talk to, let in the house, etc and might eventually have to pay commision to. I'd rather give the money to someone I liked. ps Never did sell, I priced the house too high and frankly I didn't have any better options if I did sell. Hey, I like my house.
At this point your home is a FSBO, right? So if she wants to show it to buyers, that's her choice and it can only help you. But if she wants you to sign an exclusive with her as a <i>precondition</i> of bringing over buyers, obviously that's a red flag. As to whether you're able to make your mortgage payments... Your personal finances are none of the broker's business, and I can't see any reason to communicate them to her.
Thanks much for all of the replies. Our house isn't listed at all yet. We were considering listing and the prospective seller agent said our office has a buyer looking for a property like yours could you be ready tomorrow. If you knew me I am objective about things in general. The price we are looking to get is the same as 2 other exact same models with 1/4 mile in last 3 months. They have a walkout basement with horrible backyard we back to open space with no walkout so I think its a fair trade off. Our lot is one of the best locations on the street truly. Its still a long shot I know, but if they bring the buyer they charge 4.9 instead of 5.9 % If we get close to our price I would pay 4.9 if its a qualified buyer. Its Coldwell Banker the agents only sell our subdivision and they market a lot so we'll see as they say. The reason I mentioned buying a listing was the discount brokers say that full service brokers over promise on the asking price and then tie you up in a contract.
I actually did tell money isn't an issue because I wanted to convey to her that we aren't a desperate seller by any means. I wanted to make it clear that we are nowhere near default or foreclosure.