Home Forums Hunting & Shooting Hunter's Campfire Realtor question - list or not?

Continuing this topic from yesterday, people are assuming that someone buying in Oregon would need a loan to close the deal. If you do get some person out of the California high roller district, they have cash in hand and then it is location, location, location. We had a plant manager out of one of our other divisions that was based out in California. When the company moved him out here to manage our plant, he couldn't find a big, expensive enough equivalent place here to prevent him from paying a tax penalty for "down sizing". All it takes is one.

I learned a lesson where to advertise when I sold our place up north a few years back. I had it listed with a little up north real estate company for a year and I got absolutely no interest. The wife had been in real estate sales years back and she suggested that I meet with her old boss who advertises in a different, more diverse market segment. I listed it with him and it sold within a week.

Just don't list it on the 'fire classifieds. They'll tear your azz off if the price is too high.

Used house salesmen are not your friend and valuations have become a complete joke. Ultimately if your selling FSBO places like Zillow or trulia combined with a little preplanning you should be able to maximize your profits. You will be amazed how many used house salesmen come out of the woodwork trying to help you sell your house when in reality they are just trying to cut themselves in… and don’t underestimate them I had one once try and have the poor gal he was representing pay 10k over asking to pay his fees. I personally will never use a relator again.

Thass wha um talkin bout ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

You can trust a realtor as far as you can throw them.

Depends on the Realtor.

One of the primary reasons to use a realtor is to get maximum exposure for your property. If you want to go to the trouble, you can get exposure for your property by yourself.

You absolutely need to come up with some comps, however. It's the only way to get a realistic appraisal for what your property is worth.

You can stick a "pie in the sky" price on it, but the lender will have it appraised before they make a loan on it. They won't loan more than it's appraised for.

Of course, if the buyer is paying cash or has enough money stashed away to pay the difference between what it appraises for and what you ask for it, there's no problem.

In today's market, I wouldn't be hesitant to ask for more that the bank will appraise it for. But by doing so, you're going to eliminate every buyer who only has enough to pay the minimum down payment,...because they're not going to have $30K extra to fill the gap between what the bank will loan on the property and what you ask for it.

Bottom line,....if you want to go to the trouble sell it fsbo. You'll save some money.

But you're going to have to come up with some comps. They may not be exact comps. But you're going to have to come up with some recent sale documentation from the immediate area in order to justify the price that you put on the property or the bank will balk. (If the price for your property is higher than the comps)

Of course, you can always put a "pie in the sky" price on it and hope that somebody shows up with a suitcase full of hunna dollar bills.

It happens, these days.

One other thing.

If you sell it fsbo, no Realtor who has a buyer will show it to them. They have no reason to if they're not going to get a commission.

Selling FSBO doesn't mean you're not willing to pay a commission, it just means you are in charge of what that will be.
On my last two home FSBO sales I paid the agents a reduced commission. However, both sales were in seller's markets and the homes were in top shape in desirable locations.

My auto correct got me. It should have been "opinion of value". For expensive properties, find a good realtor in your area to do an opinion of value for you. They will pull comps and get pretty close to what you will get for it. There are always some exceptions though and you do have the occasional guy buy with cash, sight unseen. Cheaper properties you can sell on your own and it will sell instantly. Because there are a million buyers right now especially in that 2-400k range. Once you get above 500k it gets tougher in my opinion to market and sell a place, and many of those buyers are going to want things handled by a realtor. Negotiate a 3-4% Commision on an expensive property.

If I was selling a property, I would try to go FSBO. If I was a buyer I would use a realtor and make sure everything was done properly. That being said, I have never bought or sold a house with a realtor.

Untrue you do not have to come up with comps… that will be the responsibility of the person buying it, or the bank for that matter if there is a lender involved, yes the lender has the ultimate say as to how much they are willing to give X number of dollars to the person that’s buying but it is of no consequence to the seller. It is absolutely sickening how used house salesmen have attempted to complicate the process with coin phrases like comps… I would probably guess that over 80% of the time an appraiser doesn’t even physically look at the property, most times you would be lucky if they even look at the inspection. The game is rigged in the realtors favor, they offer no protection and will not do a thing for you if there is even the slightest chance it doesn’t benefit them. I equate them to politicians and insurance agents. So if your looking to get fuced at least find one that’s good looking.

No Realtor is going to go to the trouble of running comps for you unless you list it with them.

Fsbo is fsbo.

Not true, at least not in my case. I got my FSBO on the MLS and 11 potential buyers showed up in two days, 6 with realtors. I told them whatever fee was to be charged was on them. I did chip in a little though in the end to help, but a far cry from 6%. More like 1% to handle paperwork.

Not necessarily. $2-350 will usually get one done.

I think that the problem with not using an agent is not knowing the comps well enough yourself and not knowing how to get multiple offers over listing price. When the wife and I bought this place we found it ourselves and because the wife knew who was good in the area we got him as our buyers agent. It was the best 3k we ever spent getting him and nailing this place down for the asking price that day. The people sold it on their own and left money on the table because it appraised higher than their asking price.

We are talking about 7-1mil properties here. Those are a little more complicated than a $250k house you can sell in a few days on Craigslist.

No they are not, sale is a sale, inspections are inspections, appraisals are appraisals and if it’s property surveys are surveys. If you honestly trust a realator just because it’s in excess of 250k your dumber than your bank account and believe me they will find a way for you to spend it. Looked into buying a real amount of property valued in excess of the price you have mentioned and imhop the only difference is the level of (shark) edited to bottom feeder. But rest easy if you find comfort in it I guess.

Glad you looked into something.

You have to come up with the comps in order to price your house appropriately.

That's Real Estate 101.

Realtors, mortgage brokers and appraisers are all in cahoots with each other. It's a big circle jerk and they all get their respective happy ending ($$$)

Last one and then I am done, comps don’t mean a fucin thing if someone is willing to pay whatever it is that your asking or paying. The current market is an example of this. Appraisals are a joke and often times are dependent on how motivated the lender is or how “close” the realtor is with the appraiser that they just happen to recommend. Realtors go through a 6-10 week course and write a test that is basically designed to give them a baseline on how to limit liability or lessen their chance of getting sued. I am sorry if you know or are a used house salesman but paying someone 6-60k to throw a cookie cutter contract in front of you with multiple highlighted boxes to sign and maybe jot in a contingency or two is a waste and in no way worth the cost. That my friend is real estate 101.

I can't see how anything is rigged in the Realtors favor. It's a simple process. The Realtor does what's necessary to sell your house and you pay them for the service.

If you're the buyer, the Realtor shows you around, tells you who the goos inspectors are, lines you up with the lenders who are offering the best rates,..and the buyer pays absolutely nothing.

But it's nothing to me one way or another. If someone wants to sell fsbo, just do it.

I've sold properties both ways.

But saying that a seller doesn't need to come up with comps is ignorant. It's the only way to come up with a realistic price for your property.

Maybe you get the comps and you want to ask more than the comps indicate. That's fine.

Or maybe you want to sell fast so you price it below the comps. That's fine too.

But either way, you need to know the going market value for the property you're selling.

That's just common sense.