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Originally Posted by local_dirt
Originally Posted by Windfall
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.



Learn how to do comps yourself without a realtor. There's a thousand websites out there to help you with that.


Yep.

You don't need to pay someone $15,000 - $25,000 to hold your hand and tell you the magic sales price that will maximize your returns. The last time I checked, Relators only get paid if you sell your home, so they are highly motivated to talk you into a price that expedites that process. In short, they don't get real excited sitting around, doing the open house thing, driving to a lot of meet and greets if they know it will take awhile to sell a property.

Test the water, see what you catch.


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Originally Posted by STRSWilson
The last time I checked, Relators only get paid if you sell your home, so they are highly motivated to talk you into a price that expedites that process. In short, they don't get real excited sitting around, doing the open house thing, driving to a lot of meet and greets if they know it will take awhile to sell a property.

Test the water, see what you catch.




110% agree... when I was very young and new to this stuff... I tried something on my cheap $132k first house sale...

I called 10 Realtors and chatted with them... of the 10 I invited only three to stop by at their convenience... I interviewed those 3... ALL THREE TOLD ME my house was worth $105k to $109k.

I picked one... and told her the price would be $135k... AND she was ONLY getting a 30 day listing contract.

She whined, but agreed.

House went live and the next day a couple drove by while I was in the driveway after work... gave them a tour and I had a contract (actually their Realtor and mine had the contract at $135k)... Inspection et al and settled for $132k.

Moral of the story... MANY if not MOST Realtors will lowball the value to make it a super quick and easy sale. Most are lazy as fugg. The commission delta between $135k and $105k is $1,800 (that number is divided by FOUR people (2 Brokers and 2 Realtors)... No one cares in the end if you loose $30k and they loose $450.


If you are not actively engaging EVERY enemy you encounter... you are allowing another to fight for you... and that is cowardice... plain and simple.



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Originally Posted by CashisKing
Originally Posted by STRSWilson
The last time I checked, Relators only get paid if you sell your home, so they are highly motivated to talk you into a price that expedites that process. In short, they don't get real excited sitting around, doing the open house thing, driving to a lot of meet and greets if they know it will take awhile to sell a property.

Test the water, see what you catch.




110% agree... when I was very young and new to this stuff... I tried something on my cheap $132k first house sale...

I called 10 Realtors and chatted with them... of the 10 I invited only three to stop by at their convenience... I interviewed those 3... ALL THREE TOLD ME my house was worth $105k to $109k.

I picked one... and told her the price would be $135k... AND she was ONLY getting a 30 day listing contract.

She whined, but agreed.

House went live and the next day a couple drove by while I was in the driveway after work... gave them a tour and I had a contract (actually their Realtor and mine had the contract at $135k)... Inspection et al and settled for $132k.

Moral of the story... MANY if not MOST Realtors will lowball the value to make it a super quick and easy sale. Most are lazy as fugg. The commission delta between $135k and $105k is $1,800 (that number is divided by FOUR people (2 Brokers and 2 Realtors)... No one cares in the end if you loose $30k and they loose $450.





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I would start by ordering yourself an appraisal. $300-$500 out of pocket but they do the work. Unbiased. Not looking to get rich off your dime. Then you have documentation of current market value with comps. From there you can choose FSBO or realtor or whatever.

Another point- when you do decide the price of your home keep that appraisal in mind. For example, if you list a house for $490k, it does well in the market and you get multiple offers, some over list. You accept the clean offer for $515 but it appraises during the sale for $490. Their bank will only fund $490k so they are going to ask you to lower your price to the appraised value or slightly higher if they can scrounge up some extra cash to bring to the table.

By getting your own appraisal first, you can potentially mitigate these issues before they become your reality.


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Originally Posted by CashisKing
Regarding interest rates... Looks like the ship has sailed (...or almost)...

https://finance.yahoo.com/news/the-...its-welcome-morning-brief-100752701.html

M&I on that home in 2021 would be $3,200 (total guess)...

M&I on that home in 2023 will be $5,000 (again a total guess)...

That is going to cool off the market and values A WHOLE LOT IMHO!




You seem to have a lot of experience with realestate, have you bought and sold in various states or just where you live now?


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Originally Posted by akasparky
Originally Posted by CashisKing
Regarding interest rates... Looks like the ship has sailed (...or almost)...

https://finance.yahoo.com/news/the-...its-welcome-morning-brief-100752701.html

M&I on that home in 2021 would be $3,200 (total guess)...

M&I on that home in 2023 will be $5,000 (again a total guess)...

That is going to cool off the market and values A WHOLE LOT IMHO!




You seem to have a lot of experience with realestate, have you bought and sold in various states or just where you live now?


Just Ohio, Georgia, Virginia, West Virginia and Florida... oops... and Texas

My dad was a GOOD realtor... I used to hold a license as well, but never active... only trained and observed

Last edited by CashisKing; 01/19/22. Reason: Oops

If you are not actively engaging EVERY enemy you encounter... you are allowing another to fight for you... and that is cowardice... plain and simple.



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Unless you know a great realtor, sell it yourself. They may make you money.


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Originally Posted by Pharmseller
Everyone talks about comps. I’ve had the place appraised for refinancing as well as realtors trying to get me to list with them and the comps are all over the map.



Comps are all over the place. So are appraisals. There is no rhyme or reason to current prices. Some times appraisers figure that something is worth what anyone is willing to pay. Problem is it leads people into misconceptions of value. Mortgage companies use a different set of criteria (called CYA) on their appraisals. They can be pretty conservative, and it's hard to know where the truth (value) lies. It's important to get as much information as possible before you accept any offer or you end up off the market during a key time. The seller wants all he can get, and the buyer worries they are paying too much for a house. If they have a good agent, the agent will tell them that if they like the house, and want the house, buy the house. Prices are still going up and the price will catch up with the house. Kind of like the old saying about guns, you don't pay too much, you may buy too soon. The most misleading issue about prices came from greedy builders. I've seen house prices go up $25,000 one week and again the next week because they think they can get them. Yet when people buying slows down, curiously the prices come down. That varies from region to region. Bottom line is most regions have a shortage of homes available to be bought by people wanting to move in. Things will be in flux for quite a while. If you want to do a test, set a price you could live with if if someone agreed to buy, and be prepared to move. But only leave it on the market for say 30 days. The longer it's on the market the lower price, some one will offer.

I'm the last one to say not to get the most you can get. There are only two key points in buying and selling. At the top of the market, or the bottom of the market. Buy low sell high. When I had to take care of my mothers house when she passed, I got 4 CMA's (competitive market analysis) first I wanted to see more about the quality of the agents. When I decided on the agent I bumped the price up higher than any of the agents suggested, and made that contingent on giving her the job. She agreed. The house sold before it was listed in the MLS. The reason was, I picked a good agent and a fair price.


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Nice place, pharm.

No way in hell I’d pay a realtor unless I was in a hell of a pickle.


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Originally Posted by Pharmseller
A few friends, too.


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And a 3000 sq.ft. barn for the toys. Three 30-ft bays.


Just an afterthought here Pharm, I think that you might be discounting the intrinsic value of those antlered neighbors of yours. The choir here are all pretty woodsy guys, but believe me that isn't the way it is in the over crowded concrete covered big cities where the big money comes from. Those guys are like a coiled spring every Friday afternoon waiting to get out of that dung heap if they can. We see the big spender Chicago people up here every weekend. When they retire, they what out and away into where the deer and the antelope play.

I remember back when I was working, we had a young engineer out of Union Carbine Corporate in NYC to come out for a new machine check out. We booked him a room out by the airport on the edge of town. 8:00 the next morning he came in absolutely giddy and said, "Jeff, I saw a deer!!!" I guess I was standing there kind of underwhelmed waiting for the punch line... "A DEER, brown, four legs, a deer." I thought it was pretty funny because we have them in the yard every day, but I let him have his enthusiasm. It made me realize that everywhere isn't like here.


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Originally Posted by doctor_Encore
There will be likely two or three interest rate hikes this year so the market will likely change yet all real estate is local. Over pricing depending on local market conditions can be against your best interest, you are better off pricing the home at market value or "Below" value to allow multiple buyers to bid up the price.

Your asking price is totally dependent on your level of upgrades your planning on doing plus your basic home features, location, square footage etc.

Zillow has lost a lot of marketing ground...your local MLS system is your friend.


Yep, my realtor talked me into being just under a certain price and we ended up having quite the bidding war. Got way more than I was expecting. A good realtor is worth their commission.

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Originally Posted by killerv
Originally Posted by doctor_Encore
There will be likely two or three interest rate hikes this year so the market will likely change yet all real estate is local. Over pricing depending on local market conditions can be against your best interest, you are better off pricing the home at market value or "Below" value to allow multiple buyers to bid up the price.

Your asking price is totally dependent on your level of upgrades your planning on doing plus your basic home features, location, square footage etc.

Zillow has lost a lot of marketing ground...your local MLS system is your friend.


Yep, my realtor talked me into being just under a certain price and we ended up having quite the bidding war. Got way more than I was expecting. A good realtor is worth their commission.


^^^^^^^^^^^^^^THIS^^^^^^^^^^^^^^


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Originally Posted by MuskegMan

Originally Posted by WhiteTrash

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.


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 ($$$)

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I sold a house in Colorado couple years ago. I was expecting the time-honored tradition of having the Appraiser be buddies with the Realtor{s} but such is no longer the case there. The Appraiser came up from 60 miles away, and didn't know either of the Realtors. Said it is law now that Appraisers get picked from a hat to prevent the sort of value-fixing that was once used to leverage deals and mortgages.

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