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

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.

The property just went up three bucks.

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.

Calvin do you know or are you a used house salesman? you sound like one.

Gotta be careful, had a buddy do that - list it at what he thought was a ridiculously high price, and had a cash offer for the full ask same day.

They weren't prepared to move but took the offer anyways.

I had two buddies that had the same thing happen!

If you have avacodo green shag carpets and harvast gold formica countertops, proceed with your upgrades.

Otherwise it's a waste of time and money.

Whenever you finally decide to sell, didn't you say you were a couple years out a couple years ago?

Whenever that time comes for you, the market is either going to be more of the same, like it is today where you can just tack up a sign in the yard and sell it in short time all by yourself or the market could crash and you wouldn't be able to sell it for squat no matter what you do.

So money spent on improvements is just a waste unless your roof has timed out or the plumbing is rotten, you won't get a return on anything else.

Most homes listed in the higher price ranges get gutted and remodeled to the buyers desire after the sell.

Save your money, buy a new gun, take the family on vacation.

Just sell the dam place and quit just talking about it already.

Oh yeah, about your question, if I saw a home listed above market for a extended time then it started dropping in price, I'd look at it a lot closer to see if there was something dreadful I was overlooking.
If everything passed the sniff test, I'd figure you were getting desperate and I'd lowball the schit outta ya with a offer.

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.

Yes I did. Most future home sellers complete their upgrades over a one to two year period of time.

you do not have to come up with comps… that will be the responsibility of the person buying it,

In answer to Pharmseller's question, you need to take some things under consideration.
1. Make sure you can afford a house when you move out and are good to go.
2. Prices are going to continue to go up. They did level off in some places, and they won't keep going up as fast, but they will continue to go up. It's called supply and demand.
3. Interest rates are expected to go up 3-4 times this year. Those old enough to remember the Carter days, know what that could mean.
4. If your plan to buy is to wait till the prices come down, you've already missed the boat. .

Lots's of bad information in here. Listen to Windfall and Bristoe. Pharmseller, get an agent. Not just any agent, get a good one. They way you are valuing your property is not accurate. Real Estate agents get a bad wrap, but the truth is you can name virtually any occupation and say the same thing. The best agents are in the top 20% just like contractors, or a lot of other professions. Just because someone is an agent doesn't mean they have an idea what they are doing. Any agent that would recommend to someone to not get an inspection is risking a law suit. Some people do decide against that but get them to sign something that says they are disregarding their agents advice. I'm aware of a sale of new construction that was less than a year old, and the crawl space was flooded and they didn't discover it until they were starting to move in. Then they couldn't get the contractor to respond to calls. It cost them thousands for temporary housing and storage of furniture. It was a seriously bad deal.

I sold a house a year ago and it was a pretty small old house. I got 15 offers in the first day and a half. I called every single agent that sent an offer and asked them 2 things. Where did they come up with the price, and if the house doesn't appraise to the buyers have "bridge money" to cover the difference between the appraisal and their offer. Only one did. Most agents have never heard of that. Contract information is a big part of doing a deal that meets state regulation. Not done right means someone can certainly get stuck.

Like I said, not every agent is a good agent. Not every contractor is a good contractor. During this time when contractors are building houses as fast as they can, most cities are short on inspectors themselves. We are hearing stories regularly about inspectors driving around the subdivision and handing off an approved inspection. There was a builder in this area that was offering $500 if you don't get an inspection. What does that tell you. Not every improvement in a house is permitted. Some don't need to be, but some do. That can come back and bite the occupant if they do something that requires a permit.


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This!
It's like anything else. If you don't know what you are doing, you don't know what to ask. That being said, do what you want, but be willing to pay for bad decisions.