Home Forums Hunting & Shooting Hunter's Campfire Real estate comission

1. It IS NOT bad advice. You just don't understand what I'm saying. I KNOW realtors look at the MLS. That's what you want. Realtors bring you qualified buyers. Let them do all the digging and screening and showing the property.

Your big picture mission is to get it sold as quickly, easily, and least expensively as possible.

2. If you don't think the general populace knows about what's on the MLS or have access to look at listings, You are misinformed or living in the past.

3. If you don't think a realtor will come after a 3% commission, you are again misinformed.

4. Are you a realtor? You're kind of sounding like one.

Realtors think the only people that should have access to the MLS or have knowledge about what's on the MLS are.. realtors.
Kinda reminds of democrats and guns.

;;;;;

As fish head said, many times you don't even need a realtor. I've done a lot of real estate transactions and rarely used a realtor. They are my least favorite of the "professionals" involved in the process and will screw a deal up faster than all of the others combined.

I was approached by many realtors who came to me me under the guise that they had buyers even though some didn't. Half of them tried to talk me into listing my house with them even after I explained that I KNEW what was I doing and didn't need their services. That pissed me off. One agent totally kinked a deal with a young couple that fell in love with my house. They initially offered 10% less than appraised value and he wanted 4% to do the paperwork. They got the boot.

I explained to every real estate agent that approached me I was open to any offer they brought but it would all come down to the bottom line. Would I make more with a buyer represented by an agent and paying a commission or would I net more with an unrepresented buyer?

In the end I accepted a negotiated offer from a buyer's agent that was over the list price and did very well. He provided all the paperwork, which was a bonus, and the deal went down super smooth and everybody was happy.

This is not correct. A buyers agent WILL MOST CERTAINLY get paid. A commission is SPLIT between a seller(listing agent) and the buyers agent if there is one. A buyers agent just LOCKS IN that particular buyer.

This almost exactly mirrors my last home sale.
We advertised the house as a FSBO, at a price that was a historic high for the neighborhood. Buyer's Realtor said she could get us almost 10% more than our asking price if we sold through her. Isn't it unethical for a Buyer's agent to jack the price up for their client/buyer?
She got 3% from us, and her buyers got screwed.

If you're going to sell it yourself, the key to being successful is to be educated and well prepared ahead of time. Have a real estate attorney lined up and a blank sales contract, disclosures, etc ready. Having an inspection done ahead of time is also a good selling point. I sold two houses on my own and used RE attorneys/title companies to close the deal and they sold quickly with a minimum of drama. I sold one thorough a RE agent and that was a disaster. I feel as the homeowner, I can answer a prospective buyers questions and concerns better than an RE agent can and I'm not going to blow smoke up the buyers skirt like many RE agents do. One thing I don't like are the standard contracts the RE agents use. They definitely are not in your favor, especially as a buyer. They seem mostly designed to protect the RE broker and make sure they get their commission. I'd rather have a RE attorney draw up a contract the fits the needs of the buyer and seller.

Same thing happened to my former neighbors next door, who by the way gave the house up on foreclosure because they couldn't get the bank to cooperate on a short sale. They had gone with that realtor because she was a "friend".

I'm not going to sit here and spill my guts or beat my chest about my real estate dealings, but I do know what I'm talking about. I've done it. Not talked it.

Pistolero or rifle marksman.. I've got a lot to learn and a lot of work to do.

If you're going to sell it yourself, the key to being successful is to be educated and well prepared ahead of time. Have a real estate attorney lined up and a blank sales contract, disclosures, etc ready. Having an inspection done ahead of time is also a good selling point. I sold two houses on my own and used RE attorneys/title companies to close the deal and they sold quickly with a minimum of drama. I sold one thorough a RE agent and that was a disaster. I feel as the homeowner, I can answer a prospective buyers questions and concerns better than an RE agent can and I'm not going to blow smoke up the buyers skirt like many RE agents do. One thing I don't like are the standard contracts the RE agents use. They definitely are not in your favor, especially as a buyer. They seem mostly designed to protect the RE broker and make sure they get their commission. I'd rather have a RE attorney draw up a contract the fits the needs of the buyer and seller.

fish head,

Having a pest and termite inspection and all section 1 items resolved when a house is marketed is a BIG plus on older homes. It had become the norm where I was working, that the seller's agent urge the seller to have this done ASAP when taking a listing. Especially on upper end homes. "Why are all the otherb homes coming with clean pest, and yours isn't" is not the sort of question you want potential buyers to be asking themselves at offer time...

Pest and termite companies providing inspections do not work for the seller per se. Their asses are on the line were they to not work to prevailing standards. That kind of s--t would come back and bite them right quick.

A general home inspection, OTOH, is as you said, generally done by the buyer. Though more by convention than for liability reasons. The seller is merely presenting the result of the inspection, not claiming there couldn't possibly be other items that were undiscovered.

KL

Sounds like you're a neophyte.

I earned my marksman badge at summer camp in 1969.

fish head,

Having a pest and termite inspection and all section 1 items resolved when a house is marketed is a BIG plus on older homes. It had become the norm where I was working, that the seller's agent urge the seller to have this done ASAP when taking a listing. Especially on upper end homes. "Why are all the otherb homes coming with clean pest, and yours isn't" is not the sort of question you want potential buyers to be asking themselves at offer time...

Pest and termite companies providing inspections do not work for the seller per se. Their asses are on the line were they to not work to prevailing standards. That kind of s--t would come back and bite them right quick.

A general home inspection, OTOH, is as you said, generally done by the buyer. Though more by convention than for liability reasons. The seller is merely presenting the result of the inspection, not claiming there couldn't possibly be other items that were undiscovered.

KL