Author Topic: Selling a home - Should I get a realtor  (Read 7743 times)

Offline mmgfarb

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Re: Selling a home - Should I get a realtor
« Reply #20 on: October 22, 2018, 11:41:30 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
What neighborhood are you looking for? When do you need to move in by?
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Offline EJB

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Re: Selling a home - Should I get a realtor
« Reply #21 on: October 22, 2018, 11:44:40 PM »
I see a few really nice homes in beachwood for under a million  ;D ;D ;D

Offline mmgfarb

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Re: Selling a home - Should I get a realtor
« Reply #22 on: October 22, 2018, 11:45:11 PM »
I see a few really nice homes in beachwood for under a million  ;D ;D ;D
And some for more, crazy.
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Offline coralsnake

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Re: Selling a home - Should I get a realtor
« Reply #23 on: October 22, 2018, 11:47:07 PM »

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.

-1

FSBO sellers often price their houses over market.
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Offline EJB

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Re: Selling a home - Should I get a realtor
« Reply #24 on: October 22, 2018, 11:48:33 PM »
-1

FSBO sellers often price their houses over market.

And then end up either paying extended carrying costs or having to sell at a depreciated value since the property has been on the market for 6+ months.

Offline 12HRS

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Re: Selling a home - Should I get a realtor
« Reply #25 on: October 22, 2018, 11:49:27 PM »
If you believe this

At the end of the day the buyer really ends up paying the commission via a higher purchase price.

Then why do you care about the extra 1-2% here

Also paying them a 3-4% commission for a house in Brooklyn seems kinda steep.

Offline Zevi16

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Re: Selling a home - Should I get a realtor
« Reply #26 on: October 22, 2018, 11:56:18 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%.
Well if you happen to go with a realtor, pm me. (Licensed in NJ so I’ll get referral for it)

Offline xodus8

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Re: Selling a home - Should I get a realtor
« Reply #27 on: October 23, 2018, 05:36:37 AM »
So then perhaps your price is too high, if you aren't getting bids. The market expects a lower price for FSBO...

I did get 2 bids within the first two weeks of listing the house. Unfortunately both people lived in the same neighborhood and wanted to upgrade houses. They wanted to put a contingency in the contract that they can not close on the new home till they sell their current home. Something that I turned down.

I just have a certain bottom price I would consider, and going with a realtor who charges me 3% would have to increase that price. I'm moving in about 2 weeks, at that point I will start doing open houses, a lot of people are saying that helps. My current strategy is to do a few weeks of open houses and if that doesn't yield serious bids then start interviewing realtors.

Any one can recommend realtors in the Brooklyn flatbush/marine park area that would do 3% or less?


Offline churnbabychurn

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Re: Selling a home - Should I get a realtor
« Reply #28 on: October 23, 2018, 05:53:20 AM »
Fwiu realtors no longer "find" houses for buyers. Zillow does that.
Realtors "sell" the house to the buyers.

Offline grodnoking

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Re: Selling a home - Should I get a realtor
« Reply #29 on: October 23, 2018, 07:03:07 AM »
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
By Me they undervalue houses by at least 100k, because the neighborhood borders on cheaper neighborhoods. And the amount of houses on the market is very small, so I assume they don't get enough data every year. Many houses are also snapped up before they even hit the market.
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Offline cozmohoot

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Re: Selling a home - Should I get a realtor
« Reply #30 on: October 23, 2018, 07:54:43 AM »
Shouldn't open house have been done the whole time? Why wait until its empty...

Offline xodus8

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Re: Selling a home - Should I get a realtor
« Reply #31 on: October 23, 2018, 08:32:06 AM »
Shouldn't open house have been done the whole time? Why wait until its empty...

I have three children ages 5 and under. Didn’t want a bunch of strangers walking everywhere and making a mess. For now we are doing private showings till we move which should be in about 2-3 weeks.


Offline xodus8

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Re: Selling a home - Should I get a realtor
« Reply #32 on: October 23, 2018, 08:35:15 AM »
Fwiu realtors no longer "find" houses for buyers. Zillow does that.
Realtors "sell" the house to the buyers.

I agree with this, it seems to be that buyers need some guidance. A few people who saw the house I reached out to them a few days later to see if they had any other questions or if they want to put an offer, I got no response back.

Some other people seemed very interested, told me to notify them if I have any imminent offers. However, before they talk pricing they want to bring their spouse or parents. Then all of a sudden they disappear. With a realtor I’m guessing these situtions wouldn’t happen.

Offline Dr Moose

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Re: Selling a home - Should I get a realtor
« Reply #33 on: October 23, 2018, 08:50:32 AM »
I'm a licensed broker in NY and can tell you there are many benefits to using one.

But if you dont want to pay fees to both agents, and still want it listed on MLS, check out this site https://usrealty.com/

By not paying a percentage to the sellers agent, you can offer higher percentage to the buyers agent which will entice them to bring buyers.
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Offline xodus8

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Re: Selling a home - Should I get a realtor
« Reply #34 on: October 23, 2018, 09:16:34 AM »
I'm a licensed broker in NY and can tell you there are many benefits to using one.

But if you dont want to pay fees to both agents, and still want it listed on MLS, check out this site https://usrealty.com/

By not paying a percentage to the sellers agent, you can offer higher percentage to the buyers agent which will entice them to bring buyers.

I tried the flat fee MLS listing service. From what I understood its still FSBO but its on the MLS. It was so confusing to get my phone #, you have to call some automated phone #, enter the MLS ID and then some machine gives my phone #.

In your opinion, is a 2% buyers commission attractive?

Offline Dr Moose

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Re: Selling a home - Should I get a realtor
« Reply #35 on: October 23, 2018, 09:20:56 AM »
I tried the flat fee MLS listing service. From what I understood its still FSBO but its on the MLS. It was so confusing to get my phone #, you have to call some automated phone #, enter the MLS ID and then some machine gives my phone #.

In your opinion, is a 2% buyers commission attractive?
Offering 2% is standard where I'm located, offering 3% is sure to catch the eye a lot more.
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Offline xodus8

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Re: Selling a home - Should I get a realtor
« Reply #36 on: October 23, 2018, 09:25:25 AM »
Offering 2% is standard where I'm located, offering 3% is sure to catch the eye a lot more.

I'm getting 3% offers for the full listing from Exit, Fillmore, Momentum and High Class realty. Fillmore said if the buyer is direct they would lower it to 2%. With housing prices in the median range of 800k + 3% just from the buyer side seems a bit excessive.

Offline henche

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Re: Selling a home - Should I get a realtor
« Reply #37 on: October 23, 2018, 09:32:31 AM »
I tried the flat fee MLS listing service. From what I understood its still FSBO but its on the MLS. It was so confusing to get my phone #, you have to call some automated phone #, enter the MLS ID and then some machine gives my phone #.

In your opinion, is a 2% buyers commission attractive?

In Boston, the standard buyers commission is 2.5%, but you can get away with 2%.

In reality, even if you use a seller's broker, a buyer can always walk away from their buyers broker and negotiate with your sellers broker directly and ask for the buyers commission. But I'm not shocked if that happens more often in FSBO

Offline cks33

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Re: Selling a home - Should I get a realtor
« Reply #38 on: October 23, 2018, 09:44:58 AM »
Use redfin.

Brokers in this day and age are an absolute waste -- no need for them.

Theres a great planet money podcast on it.

cks

Offline xodus8

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Re: Selling a home - Should I get a realtor
« Reply #39 on: October 23, 2018, 10:09:11 AM »
Use redfin.

Brokers in this day and age are an absolute waste -- no need for them.

Theres a great planet money podcast on it.

cks

I did some research on Redfin, not the best reviews. They charge a 1% listing service (sellers commission) and the buyers commission I guess would vary 2-3%. I could just go with a local realtor at 3% for the entire thing.