The main reason for using an agent is that the agent has probably been around the block a few times, and know most of the dodges dishonest people like to pull.
Sell it yourself. Submit a quit claim deed. You'll pay minimal fees depending on your state.
Buyers arent getting financing without title insurance which is only available through a warranty dead. Only people paying cash are investors and a few chinese buyers.
Exactly. And if you rule out all buyers that need a mortgage in order to purchase, you can expect a lower sale price due to less competition.
If you do it yourself you're either going to learn that it's easy and anyone could do it or that it's difficult and the real estate agents' fees are justified. If you go with the real estate agent you'll never know which it is.
In my experience it's easy if the other party involved is civilized and not a cunt. And it's a huge bitch if the other party is stupid.
Problem is sometimes FSBOs attract stupid cunts more than regular listings. But maybe OP can spot them and avoid.
what is an FSBO?
Wrong. Not just fsbo's attract cunts, all sales with real estate attract cunts. YOU get to dictate what you pay buyers agents.
So sell to a White male.
Depending on your jurisdiction, your real estate agent will be insured by errors and omissions insurance, by law, as a requirement of practicing the profession.
This is important because it gives you someone to sue if it goes bad.
Real estate agent here.
I’m based in Oz so it’s a bit different but I can tell you from experience that depending on the circumstances you would either be an idiot to use one or an idiot not use one.
Id say 40% of sales could have been done as effectively by the owner and saved them some money. You have to factor time and hassle into this equation but it can work out well.
40% definitely need the help as they have no idea what they are doing.
20% of properties are either special/unique enough or have some factor or feature that really deserve an agent and you would be doing yourself a mis service to not have one.
Simple truth is a good hard working agent is almost always worth the 1%-2% commission. On a $1 million dollar property the average cost of the agent and marketing is between $15k-$25k, I’ve been involved in sales where we had a final offer from all interested parties and 1 extra phone call to an old client or calling back the people who said they definitely weren’t interested has resulted in further offers that well exceeded our fees.
If you decide to use an agent go to a few opens and see how well the agents conducting them follow up with you. From a sellers perspective that should be the most important part of choosing who to work with.
Feel free to PM if you have any questions
It's 4% here, coming and going (buyer and seller get 4 each). It's outrageous in my opinion.
Huh? Buyer and seller? You get a 4% comm for listing the property for sale and whoever finds the buyer gets another 4%??? I’ve misunderstood coz that makes no sense at all
Pretty much, the seller gets 2.8% and the buyer gets another 3% so 6% of the total sale of the house is commision to the real estate agents
The only reason to ever use a real estate agent is if you can't do it yourself, or that you think they can advertise better as well as get a better price despite their 3-6% fee.
Im in a weird situation where the loss is caused by the real estate fee. I would need to find someone willing to buy 20,000 over appraisal to break even
Rarely will anyone pay over appraisal unless you can focus on features of amenities that you have in the house no other house has in the local area, some of those can include hot tubs, swimming pools, special layouts or upgraded kitchens/appliances. Else you are screwed.
amenities that you have in the house no other house has in the local area
Gas chamber with roller coaster entry?
Right, i personally think making 20,000 for pressing some buttons and posting a house on MLS is a tad bit excessive. It feels like real estate is a completely corrupt concept at this point. I also learned that selling your house to a friend is illegal in some states, and the local kikes can sue you for discrimination if you don't play by their rules
Bullshit. In my area it is a bidding war. Appraisals mean absolutely NOTHING. People are paying $100,000 over asking, forget the appraisal it is what people perceive as value.
What do the comps show in your neighborhood?
I think redfin does flat rate work. Look them up.
If you buy a house with them they will sell your old one at a slightly lower rate.
If you know for damn sure there is nothing wrong with your house, you should be fine without one.
If you have anything wrong with hour house, then it might be a good idea to have someone who can write that up into the purchase agreement so that everything is fully disclosed and you don't get sued after selling your home. If you use a realtor, they're SUPPOSED to do all of that digging before it is listed and make sure things like that dont come to bite you in the ass. If they fuck up, they are insured for that.
You are selling a 400k house and she is offering a 5% commission rate correct? She will be splitting that with a buyers agent so her half is going to be $10,000. Its a lot, but you are also asking her to work upfront and only get paid on the backend.
Interview other agents if you want (not a bad idea) but you are going to lose more than $10,000 selling by yourself. We target for sale buy owner commercial buildings in the midwest because a lot of business owners think selling real estate is easy when in reality they do not grasp much of the nuance. You want to save money by not using an agent, fsbo buyers like us want to save money by buying low. Its a wash at best for you.
There are flat fee listing services but you still have to pay 2% to a buyer's agent. It worked out to 3% total for me because the flat fee was 1% of my homes' value just by coincidence.
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