- This topic has 9 replies, 10 voices, and was last updated 9 years, 5 months ago by Anonymous.
- May 6, 2011 at 12:52 pm #208003AnonymousInactive
My wife and I want to find a new or resale home first and then offer our home for sale. I travel a lot and we have two small dogs. Realtors say it’s worth the commission to use an agent, but on a $450,000 sale and 6%, that’s $27,000 split between my agent and the buyer. Then there’s closing costs and moving expense. I’m sure a little research can help us save a substantial amount.
- May 10, 2011 at 12:34 am #269761AnonymousInactive
Real estate agents sell homes every day. How big of a book do you plan to read match that experience?
Who is going to show your house while you are traveling? Do you honestly want your wife opening your home to complete strangers who will very quickly know that you are not home?
- May 10, 2011 at 11:00 pm #271058AnonymousInactive
I am just about list 9 houses with Realtor as test and try out basis. I am not afraid to pay for as long I know that what I pay for and worth my ROI.
If you don’t want to sell there is always the option to trade 1031, barter, etc…
Another answer that you know out of $450K, how much is for you after.
If you can reinvest it and earn more from it, would it serve you better?
I used to own few thousand share of stocks, now I own lots of RE instead.
I buy and sell RE and and not yet use mortgage company for acquisition. I buy and sell properties across country and make good return of the ROI. Let ask more question if I can help.
- May 12, 2011 at 6:24 am #273926AnonymousInactive
You have a couple of options. There are companies which specialize in “FSBO” properties and will list your home on the local multiple listing service and in some cases, even advertise it for a flat fee.
Selling your house yourself is time-consuming and difficult in a good market, much less this slow, bottom-fishing market. The best advice is to make sure your house is in tip-top condition, freshly painted, clean and smelling good. Also, price it properly. You can’t expect to get top dollar right now. You might want to watch “Sell This House” on A & E, or any of the similar programs which give sellers advice.
De-clutter the place and rent a storage facility, if needed. Make sure the dogs are in a crate or kennel. Put away any personal photos. Freshen up those bedspreads and curtains. Remove heavy draperies and go for a light, open, modern look. Check out some of the home decor magazines and copy looks that appeal to you. Have the carpets cleaned, clear off kitchen and bathroom counters and turn on all the lights when you show the house. Walk through the house yourself and pretend you are a potential buyer. Do you like what you see?
Curb appeal is vital. Plant blooming flowers in front of the house, make sure the lawn is mowed and the bushes trimmed, have the outside painted. Lots of sales are lost because buyers don’t like what they see from the street.
Remember, the first couple of weeks on the market are the most important. Make sure your house shows well!
- May 17, 2011 at 4:57 pm #279597AnonymousInactive
OK, you’re first reason for wanting to use a real estate agent is stated in your question.
In this market you will not want to find your new home before you sell your old one unless you can afford two mortgages for 3 to 6 months. Unless your home goes against the trend because it is super low priced or super gorgeous, it will take about 60 days minimum, depending on your market, for your home to sell.
If you pick out a replacement property first and ask that seller to hold it for you for 60 days, they may get a better offer than yours while they are waiting for you. They will dump you, give you back your deposit, and take the better offer instead of waiting for you.
You need a Realtor to explain all the forms to you.
You need a Realtor to help you price your property according to reality, not according to what your neighbor got for his place.
You need a Realtor to handle all the calls from the buyer’s agent that need to be answered within the next 3 hours that you can’t answer because you’re busy working.
You need a Realtor to come up with creative negotiations and counteroffers when the buyer says he wants $5,000 credit back on the price because of this, that, or the other thing.
You need a Realtor to meet all the deadlines of the contract that can cause you to lose out on a deal or get in financial trouble if those deadlines are not met.
You need a Realtor to show you all the properties in the MLS you want to see, not just the Open Houses. You definitely need a Realtor to represent you for your new purchase because you sure don’t want the seller’s agent for your new place to handle both sides of the deal.
You also have to keep in mind that in this market, many Realtors are not doing well. There is a big myth out there that all real estate agents are rich. That’s baloney. Yes, the $27,000 will be split in two, but if your working with an agent who has only sold two or three homes this year because the market is so slow, he ain’t getting rich of that $13,000.
If a deal goes terribly wrong you could lose
$27,000 times 10.
That’s the best reason to use a Realtor.
- May 18, 2011 at 1:46 am #280198AnonymousInactive
You can definitely sell your home yourself. You do not have to use a real estate agent. Some of the best books are in the Dummy Series and also there is another Series of books (I always forget the name) but they are orange and blue books that roughly resemble the Dummy Series.
The other books tend to not talk in terms that new wellers would understand,they usually use real estate terms and can be confusing.
- May 20, 2011 at 11:09 am #282554AnonymousInactive
You know that 6% is negotiable.
First you want to clean up the house, inside and out.
Take care of ALL repair items. Paint if you have to.
With regards to decor: A house purchase is always a little subjective. So you want to eliminate anything that is too personal from view. Take away your photos.
Have the house appear clean, well cared for and uncluttered.
That means that you will organize even your closets.
Pretend that you are a buyer and drive up to your own house.
What do you see? What needs fixing?
Now walk through your house, from the front door to the attic with the same critical eyes.
By doing that and making minor changes you might get a few extra dollars as well as sell the house in a shorter period of time.
Yes, you CAN sell it yourself. Remember that a very basic contract needs to include the following:
Cash-how much down payment
Loans-how much and at which interest rate
Agreements-anything you agree on spelled out. So if you include the dining room chandelier, write it down.
Property-street address or legal description(from tax bill)
- June 11, 2011 at 2:49 am #438617AnonymousInactive
Right. The POINT of those websites, is to harvest your personal information to sell to agents – hundreds of agents – as leads.
You need to just call a few local agents near you, to get those quotes. You won’t get a valid quote online, anyway, unless you’re going DIRECTLY to the insurance company’s site – like Progressive or Amica.
- June 14, 2011 at 10:10 am #289422AnonymousInactive
you answered it
- September 18, 2011 at 1:59 am #290456AnonymousInactive
Clark Howard has a new book on the subject. Also there is much free info on his website: clarkhoward.com
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