Author Topic: Selling a home - Should I get a realtor  (Read 7742 times)

Online xodus8

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Selling a home - Should I get a realtor
« on: October 22, 2018, 07:38:43 PM »
I’m selling my house, for the last 5 weeks or so I have been trying to do a for sale by owner. I’m listed on Zillow and Trulia. My wife is posting it on WhatsApp groups and Facebook groups. We are getting people to come see the house, even had 2 offers (they fell through cause of some contingencies the buyers wanted).

I’m getting lots of calls from realtors, they keep saying they have buyers, they want to come see the house. When do they come all they do is try to convince me to list with them. I have offered to pay them a buyers commission of 1.75%-2%. Once I officially reject them to list my house with them I usually don’t hear back from them.

My question is should I go with a realtor, these days with Zillow and all the social media I just don’t see what they would do different. Also paying them a 3-4% commission for a house in Brooklyn seems kinda steep. Any other DDers that sold a house FSBO, any tips you can give me? It’s just so shocking to me that some realtors still want a 6% commission, I have had a few realtors offer me 3%.

Offline Dan

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Re: Selling a home - Should I get a realtor
« Reply #1 on: October 22, 2018, 08:02:56 PM »
I did a FSBO. But CLE real estate is on fire and everything decent here sells within 24 hours.
Are you sure you aren't overpriced?
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline EJB

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Re: Selling a home - Should I get a realtor
« Reply #2 on: October 22, 2018, 08:11:43 PM »
I’m selling my house, for the last 5 weeks or so I have been trying to do a for sale by owner. I’m listed on Zillow and Trulia. My wife is posting it on WhatsApp groups and Facebook groups. We are getting people to come see the house, even had 2 offers (they fell through cause of some contingencies the buyers wanted).

I’m getting lots of calls from realtors, they keep saying they have buyers, they want to come see the house. When do they come all they do is try to convince me to list with them. I have offered to pay them a buyers commission of 1.75%-2%. Once I officially reject them to list my house with them I usually don’t hear back from them.

My question is should I go with a realtor, these days with Zillow and all the social media I just don’t see what they would do different. Also paying them a 3-4% commission for a house in Brooklyn seems kinda steep. Any other DDers that sold a house FSBO, any tips you can give me? It’s just so shocking to me that some realtors still want a 6% commission, I have had a few realtors offer me 3%.

I'd be shocked if they'd be willing to accept a buyers commission of 3%... 

Offline Sammyonetwo

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Re: Selling a home - Should I get a realtor
« Reply #3 on: October 22, 2018, 08:12:58 PM »
I did a FSBO. But CLE real estate is on fire and everything decent here sells within 24 hours.
Are you sure you aren't overpriced?

Everything in BK is overpriced

Offline Zevi16

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Re: Selling a home - Should I get a realtor
« Reply #4 on: October 22, 2018, 08:19:54 PM »
I did a FSBO. But CLE real estate is on fire and everything decent here sells within 24 hours.
Are you sure you aren't overpriced?
I happen to be on the lookout for something in CLE and anything similar to what I used to see online (2 years back)doesn’t show up anymore. Nothing decent on Zillow etc

Online Yef

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Re: Selling a home - Should I get a realtor
« Reply #5 on: October 22, 2018, 09:00:14 PM »
Why would a agent not take 3%.  They need the sellers more than they need the buyers.

Offline yelped

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Re: Selling a home - Should I get a realtor
« Reply #6 on: October 22, 2018, 09:01:30 PM »
I'd be shocked if they'd be willing to accept a buyers commission of 3%...
In Lakewood the standard rate for the Heimishe Realtors is 3%. Some charge 4% if another agent brought the buyer. Only the national brands charge 5%-6%.

Offline EJB

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Re: Selling a home - Should I get a realtor
« Reply #7 on: October 22, 2018, 09:04:14 PM »
In Lakewood the standard rate for the Heimishe Realtors is 3%. Some charge 4% if another agent brought the buyer. Only the national brands charge 5%-6%.

Apparently not in brooklyn.

Offline Dan

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Re: Selling a home - Should I get a realtor
« Reply #8 on: October 22, 2018, 09:06:15 PM »
I happen to be on the lookout for something in CLE and anything similar to what I used to see online (2 years back)doesn’t show up anymore. Nothing decent on Zillow etc
All done via word of mouth.
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline EJB

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Re: Selling a home - Should I get a realtor
« Reply #9 on: October 22, 2018, 09:07:26 PM »
Why would a agent not take 3%.  They need the sellers more than they need the buyers.

If they're good, they'll have other homes to sell at a higher commission point. And the more negotiating down commission they do, the lower commission gets. In many communities the better brokerages collude not to decrease commissions, except to contractors that provide them with volume. Of course it depends on community.

Offline EJB

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Re: Selling a home - Should I get a realtor
« Reply #10 on: October 22, 2018, 09:07:55 PM »
All done via word of mouth.

Why don't you post it here to get more people to move. You can start a CLE FSBO board.

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Re: Selling a home - Should I get a realtor
« Reply #11 on: October 22, 2018, 09:11:48 PM »
As Dan already posted. #TooMuchWinning.

Online xodus8

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Re: Selling a home - Should I get a realtor
« Reply #12 on: October 22, 2018, 10:15:11 PM »
I did a FSBO. But CLE real estate is on fire and everything decent here sells within 24 hours.
Are you sure you aren't overpriced?

I don’t think so. I’m looking at the comparables in the area. Also not putting much stock into zestimate my zestimate is 865k and my asking is 949k.

I think agents are willing to take a little lower % since the prices are so high these days.

Offline Dan

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Re: Selling a home - Should I get a realtor
« Reply #13 on: October 22, 2018, 10:17:26 PM »
Why don't you post it here to get more people to move. You can start a CLE FSBO board.
#TooMuchWinning.
x1K
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline henche

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Re: Selling a home - Should I get a realtor
« Reply #14 on: October 22, 2018, 11:01:19 PM »
I don’t think so. I’m looking at the comparables in the area. Also not putting much stock into zestimate my zestimate is 865k and my asking is 949k.

I think agents are willing to take a little lower % since the prices are so high these days.

Zestimate is worthless. I once saw it go down by 70k in a couple weeks. Clicked into the underlying data...there was a house had "sold" for a dollar

Offline henche

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Re: Selling a home - Should I get a realtor
« Reply #15 on: October 22, 2018, 11:02:43 PM »
6 percent of a million is a lot of money.

Still, you'll get way more buyers if u give a buyers commission

Online xodus8

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Re: Selling a home - Should I get a realtor
« Reply #16 on: October 22, 2018, 11:19:57 PM »
6 percent of a million is a lot of money.

Still, you'll get way more buyers if u give a buyers commission

So I’m dealing with a few brokers I offered them 1.75-2% commission for finding me a buyer. The worry they tell me since it’s FSBO they have no protection in the sense if they bring me a buyer and then the buyer wants to deal directly with me to get a lower price and squeeze out the realtor. One realtor I met with today told me this info. I told them I’ll sign an agreement if the buyer originated from you I would be bound to pay the commission.

Do potential buyers not use Zillow to look at houses available? I’m sure most buyers realize they get a better price on a home that’s FSBO. At the end of the day the buyer really ends up paying the commission via a higher purchase price.

Offline EJB

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Re: Selling a home - Should I get a realtor
« Reply #17 on: October 22, 2018, 11:27:43 PM »
Zestimate is worthless. I once saw it go down by 70k in a couple weeks. Clicked into the underlying data...there was a house had "sold" for a dollar

It is worthless. In my community it has Zyggy wilf's 15k SF house that he pays almost 100k in taxes on for like 1.5m :) A bargain

Offline EJB

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Re: Selling a home - Should I get a realtor
« Reply #18 on: October 22, 2018, 11:31:45 PM »
So I’m dealing with a few brokers I offered them 1.75-2% commission for finding me a buyer. The worry they tell me since it’s FSBO they have no protection in the sense if they bring me a buyer and then the buyer wants to deal directly with me to get a lower price and squeeze out the realtor. One realtor I met with today told me this info. I told them I’ll sign an agreement if the buyer originated from you I would be bound to pay the commission.

Do potential buyers not use Zillow to look at houses available? I’m sure most buyers realize they get a better price on a home that’s FSBO. At the end of the day the buyer really ends up paying the commission via a higher purchase price.

So then perhaps your price is too high, if you aren't getting bids. The market expects a lower price for FSBO...

Offline Yaalili

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Re: Selling a home - Should I get a realtor
« Reply #19 on: October 22, 2018, 11:33:50 PM »
Hang a sign in nearby marine park shuls maybe.