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Groves
04-04-2007, 12:45 PM
It's the same old question. Is paying a realtor worth it?

Anyone here with experience selling your own house?

Good experience? Would you do it again? What advice would you give house-selling rookies?

Or, what about the assist2sell type of places? Anyone?

Off season is almost over, gotta get my non-football questions in.

stlchiefs
04-04-2007, 12:49 PM
Get it on the market soon (within the next 3 weeks). May, June and July are your best months. Late July and August get to be too late as many who move want to be settled before the end of summer and start of the school year.

Fire Me Boy!
04-04-2007, 12:50 PM
The selling was pretty bad for me, but mostly because of the realtor. She never showed my house, and nearly screwed up the closing, forgetting to mention to me (a first-time home seller) that we needed to get a couple inspections done.

Would I do it again? Yeah, but not with the same realtor. The best advice I can give if you go with a realtor is to find someone you trust and get references.

The sale was easy for me -- three weeks before we got an offer, which was full price, no negotiations, and they didn't want anything done. Hard to say no to that.

A month later, we moved and we got a check for the money we made on top of the house.

Lots of stress the day of the closing though -- that's when we found out we had to have a termite inspection. Luckily, I was able to get an inspector at my house in 30 minutes, only had signs of an early infestation, got that taken care of and the paperwork done in time to make it to the closing with five minutes to spare.

Fire Me Boy!
04-04-2007, 12:50 PM
Get it on the market soon (within the next 3 weeks). May, June and July are your best months. Late July and August get to be too late as many who move want to be settled before the end of summer and start of the school year.
I'd heard April, May and June, but we're talking 6 of one, half dozen of the other. He's right though, NOW is the time.

Phobia
04-04-2007, 12:50 PM
Advice? Buyers make their mind up as they walk in the front door.

Pay plenty of attention to the path leading up to the door, your stoop, and the door itself. Make them look as nice as possible. Put in a new door if possible/necessary.

Pay a professional to do a walkthrough - they'll tell you what to fix and what to bandaid.

Then make that entry look very nice.

It's a buyer's market right now. You're likely to experience more difficulty than usual trying to sell on your own. You may want to try getting it put on the MLS and putting a 4% buyer's agent commission on it. That way you're saving yourself 2-3% and ensuring it will be shown plenty.

Fire Me Boy!
04-04-2007, 12:53 PM
One thing I've read, and had some comments about... buy a $50 bread machine. 45 minutes before they're supposed to be at the house (if you have advanced notice), put some bread on.

The experts say people love a house that smells like "home" and bread or cookies does this.

Also, remove personal effects. People can't imagine "home" if they see pictures of your kids.

Do a google search for "home staging" and that will help a LOT.

ClevelandBronco
04-04-2007, 12:59 PM
Don't pay full commmission to the listing agent. One percent or $1,000. Whichever is less. There's just not that much involved in listing a home these days.

Don't overestimate the value of "open houses." Very often the purpose of an open house is for your agent to find buyers he/she can represent when they buy a house other than yours.

One more word about open houses. Be very aware of who comes in and looks around. It could be someone who is just taking inventory so they'll know what to steal when they break in later. Remove valuable and tempting items before you start showing it.

Even if you list the house yourself, advertise that you'll pay full commission to a buyer's agent. The buyer is the valuable commodity to you, obviously.

Dave Lane
04-04-2007, 01:02 PM
Yes

Pay the 7% and just add it to the price you'd accept for the property. I do properties all the time and I'll list my house with a realtor everytime. Just remember add the 7% to the lowest price you'll take and then you are even.

People expect to pay less for a FSBO so you'll lose the 7% yourself anyway.

Dave

ClevelandBronco
04-04-2007, 01:05 PM
Kitchens and master bed/bathrooms are usually the major interior selling points. Remove as much as you can get by without so those rooms look as large as possible. Get all that stuff off your kitchen counters. You have to show folks that they'll have room to work in there. Clutter anywhere in the house sends a signal that you don't have enough storage space.

Iowanian
04-04-2007, 01:08 PM
In most cases, go with a realtor. I'd talk with a few, find some that have been recommended by friends and decide who you'd like to work with and trust to get it done.

I'd also recommend following Phil's advice on the entry. Make sure the paint is touched up, landscaping is done, the yard looks good. While the baking is a good idea, we had Chocolate Chip Cookie candles the realtor was to light before showing it.

If you live there before selling, take down alot of your photos and trinkets, and if you have deer heads, stuffed fish or something like that...remove them. You want them to think the house is "homey" and lived in, but not to think of it as "your house".

Our first house wasn't selling, I put a few hundred dollars in a vinyl deck railing, shutters on the front and some vinyl wrapping on the porch posts and it sold in 10 days.

My lesson learned is that I would be cautious in selling to an FHA buyer. They'll end up asking you to front all of THEIR fees, jump through extra hoops and will have an inspector with a list of things for you to fix or change......so you have to do more and get less.

Good luck. Its the right time of year to sell.

Mr. Plow
04-04-2007, 01:09 PM
Watch those "Sell My House" or "My home is worth what" on. My wife and I love those shows. They give some great idea's.

penguinz
04-04-2007, 01:11 PM
If you have an in ground swimming pool fill it in with dirt and put sod over it.

El Jefe
04-04-2007, 01:16 PM
"Very often the purpose of an open house is for your agent to find buyers he/she can represent when they buy a house other than yours", not many people know that about open houses. Very very good point. I would like to reitterate one point and that is hide your valuables my buddy was selling his house and someone in an open house stole 1,000 dollars worth of jewelry from their master bedroom. The jewelry wasnt out in the open either, so you know people will snoop around.

stlchiefs
04-04-2007, 01:17 PM
If you go the Realtor route DEMAND your home is put on the MLS IMMEDIATELY. They usually try to sell it through their office and immediate clients for the first couple of weeks and only if that fails will they list it on MLS.
As was stated, Open Houses are really only for your Realtor to get new clients, rarely do they do anything for you.

ClevelandBronco
04-04-2007, 01:17 PM
If you have an in ground swimming pool fill it in with dirt and put sod over it.

The people next door to me had to do that to sell their house. No one wanted the hassle of the pool. The house sat on the market for three months. They filled it in and the place sold in a week.

Baconeater
04-04-2007, 01:28 PM
My best advice is don't assume it's a done deal once you accept an offer from someone. My brother got himself in a bad position a few years ago when he ran out and signed for another house as soon as he got a reasonable offer from someone. He ended up getting the screws put to him for a bunch of BS repairs that some fly-by-night inspector told the buyer the place needed, and he had no leverage because if the deal fell through he wasn't going to be able to close on his new place. People are freaky when they are buying houses, be prepared for last minute hang-ups.

afchiefs
04-04-2007, 01:47 PM
use a realator: But check and see if you have to sign an exclusive (which means good or bad your stuck with them for the lenght of the contract) Sign as short term as you can get. Ask for the right to sell it youself and the their fees if you do so.

KC-TBB
04-04-2007, 01:52 PM
torch the place and collect the insurance money...

stlchiefs
04-04-2007, 01:54 PM
Talk to Skip, I've read he's good of getting rid of houses.

Jenson71
04-04-2007, 01:56 PM
Watch those "Sell My House" or "My home is worth what" on. My wife and I love those shows. They give some great idea's.

They do, and those shows are pretty good. To be fair however, I've never had the experience of buying or selling a home.

Saulbadguy
04-04-2007, 02:11 PM
I just accepted an offer for my home this morning. I don't really have any advice, though.

Spott
04-04-2007, 02:39 PM
I've bought sold homes by owner. Realtors aren't that much of a help, really. For a few hundred bucks in fees, a lawyer can do all of the paperwork for you. It's actually a lot easier than you think to do it yourself.

seclark
04-04-2007, 02:40 PM
we went through an agent just to avoid all the calls from so-called buyers that weren't that serious. lots of jerkoffs just wanted to know how much we were asking for the place.

sec

Spott
04-04-2007, 02:42 PM
If you have an in ground swimming pool fill it in with dirt and put sod over it.


If you live in a place where you can actually use it, it will help you sell the house. But if you live up north where you can only use it 2-3 months out of the year, it's not worth it.

penguinz
04-04-2007, 02:48 PM
If you live in a place where you can actually use it, it will help you sell the house. But if you live up north where you can only use it 2-3 months out of the year, it's not worth ti.A pool does not add any value over the cost of the install to a house. Many times it does not even add the cost to the value.

DaneMcCloud
04-04-2007, 03:17 PM
A pool does not add any value over the cost of the install to a house. Many times it does not even add the cost to the value.

That depends on where you live. In Los Angeles, a pool will add at least $250k, minimum.

penguinz
04-04-2007, 03:25 PM
That depends on where you live. In Los Angeles, a pool will add at least $250k, minimum.I beg to differ. It might make the home more favorable to one next door that does not have a pool but it will not add real $ value.

stlchiefs
04-04-2007, 03:29 PM
I just accepted an offer for my home this morning. I don't really have any advice, though.

I also stayed at a Holiday Inn Express last night.

DaneMcCloud
04-04-2007, 04:00 PM
I beg to differ. It might make the home more favorable to one next door that does not have a pool but it will not add real $ value.

Then you obviously aren't familiar the Los Angeles market. My home's value has tripled in the past 3.5 years, so much to the point that it's on the market and I'm in escrow on another home. My next home will have a pool and jacuzzi (at a cost of $85k) but the value to the home is at minimum, $250k. Views of the city and ocean from a home pool are almost priceless.

Iowanian
04-04-2007, 04:50 PM
we went through an agent just to avoid all the calls from so-called buyers that weren't that serious. lots of jerkoffs just wanted to know how much we were asking for the place.

sec

I wonder if they're the same jerkoffs who "wanna buya datuh house onna contwact, wif no moneys down"

I had mine for a month of that and had enough....the dipshit factor is almost worth a couple of % of the realtor fee.

bogie
04-04-2007, 06:14 PM
Then you obviously aren't familiar the Los Angeles market. My home's value has tripled in the past 3.5 years, so much to the point that it's on the market and I'm in escrow on another home. My next home will have a pool and jacuzzi (at a cost of $85k) but the value to the home is at minimum, $250k. Views of the city and ocean from a home pool are almost priceless.

I recently built a salt water pool. I have a 9 year old and a wife that love to swim. It's obviously not as big as your pool. We spent around $40k. When I sell my home I expect to get about $10k of that $40k back. I hear different opinions though. People that buy homes in the Valley love pools. So if the right buyer comes along, I could very well make it all back. But, we built the pool for our enjoyment and living in the Valley we get plenty of time to enjoy it. It's definately been worth the investment. I would imagine you're talking about a pool that is a focal point of your home.

ChiefFan31
04-04-2007, 06:22 PM
Advice? Buyers make their mind up as they walk in the front door.

Pay plenty of attention to the path leading up to the door, your stoop, and the door itself. Make them look as nice as possible. Put in a new door if possible/necessary.

Pay a professional to do a walkthrough - they'll tell you what to fix and what to bandaid.

Then make that entry look very nice.

It's a buyer's market right now. You're likely to experience more difficulty than usual trying to sell on your own. You may want to try getting it put on the MLS and putting a 4% buyer's agent commission on it. That way you're saving yourself 2-3% and ensuring it will be shown plenty.

Solid ****ing post

Halfcan
04-04-2007, 06:26 PM
Advice? Buyers make their mind up as they walk in the front door.

Pay plenty of attention to the path leading up to the door, your stoop, and the door itself. Make them look as nice as possible. Put in a new door if possible/necessary.

Pay a professional to do a walkthrough - they'll tell you what to fix and what to bandaid.

Then make that entry look very nice.

It's a buyer's market right now. You're likely to experience more difficulty than usual trying to sell on your own. You may want to try getting it put on the MLS and putting a 4% buyer's agent commission on it. That way you're saving yourself 2-3% and ensuring it will be shown plenty.

You can't put your house on MLS without it being listed.

Halfcan
04-04-2007, 06:30 PM
I've bought sold homes by owner. Realtors aren't that much of a help, really. For a few hundred bucks in fees, a lawyer can do all of the paperwork for you. It's actually a lot easier than you think to do it yourself.

Lawyers can't do the same thing as a Realtor. If you are going to sell it yourself you don't need a lawyer.

At least in Missouri-there is an approved contract-that a lawyer could never come close to trying to put together.

Some title companies will have the contract, but not all the other important forms.

A Lawyer is not a Realtor.

ChiefsfaninPA
04-04-2007, 06:40 PM
If you are in no rush try selling it yourself first. But beware that this is a pretty daunting task and can be a major pain in the ass. I hate realtors fees, but if you aren't having any luck on your own, then you might have to bite that bullet. Just do your research ahead of time. Have an appraiser give you an appraisal, get the comps for your neighborhood from the local tax office and see what other homes in your area are selling for. I would even recommend having a home inspection done yourself just to see what problems their are. They usually run about 400 (at least in my area).

DaneMcCloud
04-04-2007, 06:46 PM
I recently built a salt water pool. I have a 9 year old and a wife that love to swim. It's obviously not as big as your pool. We spent around $40k. When I sell my home I expect to get about $10k of that $40k back. I hear different opinions though. People that buy homes in the Valley love pools. So if the right buyer comes along, I could very well make it all back. But, we built the pool for our enjoyment and living in the Valley we get plenty of time to enjoy it. It's definately been worth the investment. I would imagine you're talking about a pool that is a focal point of your home.

Well, we haven't bought the home just yet; the new home purchase is contingent on the sale of our current home, which just hit the MLS yesterday. We have a 45 day escrow, so we'll see. But the new home's pool isn't built yet. It's a brand new home and the developer has the permits but he won't begin construction until escrow is complete (we've set aside the money for the pool & deck in a separate escrow account).

The pool will have views of Hollywood (down to the ocean on a clear day). He's going to build a 1,200 square foot deck which will house a 25x12 Viking fiberglass pool and adjacent jacuzzi and have a stamped, colored concrete surface. He says he's building it for us at his cost and after some research, it appears that way.

As far as your pool and home goes, I'm sure you'll sell your home for much more than you purchased it for, so you're extremely likely to make up the difference. My home tripled in value since 2003 and though it's not that way throughout every part of the Hollywood Hills and Studio City, you should definitely do okay.

Beware of Capital Gains, though. I could almost pay cash for my parent's home in JoCo with the amount of money I'll have to pay in state and federal taxes. It's un-freakin-believeable.

Simply Red
04-04-2007, 07:17 PM
Advice? Buyers make their mind up as they walk in the front door.

Pay plenty of attention to the path leading up to the door, your stoop, and the door itself. Make them look as nice as possible. Put in a new door if possible/necessary.

Pay a professional to do a walkthrough - they'll tell you what to fix and what to bandaid.

Then make that entry look very nice.

It's a buyer's market right now. You're likely to experience more difficulty than usual trying to sell on your own. You may want to try getting it put on the MLS and putting a 4% buyer's agent commission on it. That way you're saving yourself 2-3% and ensuring it will be shown plenty.
What Phil said + turn all of your lamps on (if you have none/little buy some) Put a chuck-roast in the crock-pot. Also get the fugg out of the house and let them look in private. Don't eagerly wait over their shoulder that's gawd damned annoying. Leave the premise, they won't steal anything.

Phobia
04-04-2007, 07:27 PM
You can't put your house on MLS without it being listed.

That's why you pay a flat rate to a listing agent to put it on MLS only. Their only service is to list it for $500. I've seen that plenty.

bogie
04-04-2007, 07:37 PM
Well, we haven't bought the home just yet; the new home purchase is contingent on the sale of our current home, which just hit the MLS yesterday. We have a 45 day escrow, so we'll see. But the new home's pool isn't built yet. It's a brand new home and the developer has the permits but he won't begin construction until escrow is complete (we've set aside the money for the pool & deck in a separate escrow account).

The pool will have views of Hollywood (down to the ocean on a clear day). He's going to build a 1,200 square foot deck which will house a 25x12 Viking fiberglass pool and adjacent jacuzzi and have a stamped, colored concrete surface. He says he's building it for us at his cost and after some research, it appears that way.

As far as your pool and home goes, I'm sure you'll sell your home for much more than you purchased it for, so you're extremely likely to make up the difference. My home tripled in value since 2003 and though it's not that way throughout every part of the Hollywood Hills and Studio City, you should definitely do okay.

Beware of Capital Gains, though. I could almost pay cash for my parent's home in JoCo with the amount of money I'll have to pay in state and federal taxes. It's un-freakin-believeable.

Barring an earthquake, I'm gonna do okay on the home. We're in Studio City. Our school system (Carpenter) is a very good school so we'll be here for at least 2 more years. I bought my home 8 years ago. I could sell and move back to MO and retire. :deevee:

stlchiefs
04-04-2007, 07:54 PM
At least in Missouri-there is an approved contract-that a lawyer could never come close to trying to put together.



Who do you think helped put that form contract together, I guarantee you it was lawyers. The reason to have a form contract is to prevent errors and loopholes and therefore prevent lawsuits, this is done by lawyers.

Groves
04-04-2007, 10:31 PM
These are all great suggestions. Thanks, guys.

alnorth
04-04-2007, 10:44 PM
Realtors can be useful, but dont overestimate their purpose. The realtor's only purpose is to bring a buyer and seller together to make a deal happen. They do not represent your best interests, they only care about getting the sale.

Whether you use a realtor or not to facilitate a sale, I'd also recommend hiring a real estate attorney to go through all the paperwork, make sure something isnt lurking in there to screw you or allow the buyer to sue you for something that wasnt disclosed someday, and make sure all the loose ends are tied. Without a lawyer, you are going to sign A LOT of stuff that you wont understand and the realtor wont correctly or fully explain.

95-99% of the people who save money by not hiring a lawyer come out fine and smelling like a rose. However, there are no small mistakes in real estate. If you get burned, you will get burned bad.

Halfcan
04-04-2007, 11:21 PM
That's why you pay a flat rate to a listing agent to put it on MLS only. Their only service is to list it for $500. I've seen that plenty.

Help you sell maybe-but no reputable realtor will work for $500. My company is 7% for the first 125k 6% to 250 k and 5% after that.

Studies show that having a good Realtor will net you more than FSBO'S even with commision. Plus you reduce the chance of getting sued or having a very costly mistake.

Phobia
04-04-2007, 11:24 PM
How reputable does your realtor need to be in order to spend 20 minutes dropping a picture and description into MLS? I'd do that all day long for $500 a pop.

penguinz
04-04-2007, 11:26 PM
Help you sell maybe-but no reputable realtor will work for $500. My company is 7% for the first 125k 6% to 250 k and 5% after that.

Studies show that having a good Realtor will net you more than FSBO'S even with commision. Plus you reduce the chance of getting sued or having a very costly mistake.
When did Carmax start in the real estate business?

Halfcan
04-04-2007, 11:28 PM
If you are in no rush try selling it yourself first. But beware that this is a pretty daunting task and can be a major pain in the ass. I hate realtors fees, but if you aren't having any luck on your own, then you might have to bite that bullet. Just do your research ahead of time. Have an appraiser give you an appraisal, get the comps for your neighborhood from the local tax office and see what other homes in your area are selling for. I would even recommend having a home inspection done yourself just to see what problems their are. They usually run about 400 (at least in my area).

Bad advice.

An appraisal is a Buyer cost. Why pay their cost when you don't have to and 95% of the time it won't transfer over.

Tax records are not the same as Market Price. Contact 3 Realtors-they will do a market analysis for you-and if they are good-give you a wealth of info while checking over your house and giving you a checklist-once again you don't have to pay someone to check your house.

Inspections are a Buyer cost. You know better than an inspector what the hell is wrong with your house-why pay $400. Chances are the buyer will use that as a bargining tool-and some come with a free termite.

Termite Inspection- Buyer expense-but if it needs treatment-Seller expense.

Halfcan
04-04-2007, 11:30 PM
Who do you think helped put that form contract together, I guarantee you it was lawyers. The reason to have a form contract is to prevent errors and loopholes and therefore prevent lawsuits, this is done by lawyers.

The contracts are approved by the Board of Realtors and updated every single year. Most are minor adjustment-(Meth, cold wheather rule for A/C) but other things are very important- like the current Fraud Laws.

Only a licensed Realtor can use the forms.

Halfcan
04-04-2007, 11:48 PM
Realtors can be useful, but dont overestimate their purpose. The realtor's only purpose is to bring a buyer and seller together to make a deal happen. They do not represent your best interests, they only care about getting the sale.

Whether you use a realtor or not to facilitate a sale, I'd also recommend hiring a real estate attorney to go through all the paperwork, make sure something isnt lurking in there to screw you or allow the buyer to sue you for something that wasnt disclosed someday, and make sure all the loose ends are tied. Without a lawyer, you are going to sign A LOT of stuff that you wont understand and the realtor wont correctly or fully explain.

95-99% of the people who save money by not hiring a lawyer come out fine and smelling like a rose. However, there are no small mistakes in real estate. If you get burned, you will get burned bad.

If a Realtor list your house- he is obligated by law to represent your interest.

Most want a 6 month listing and will try to make you think you are stuck. But if they are not doing their job-you send a letter to their broker and the listing Can be stopped.

Halfcan
04-04-2007, 11:50 PM
use a realator: But check and see if you have to sign an exclusive (which means good or bad your stuck with them for the lenght of the contract) Sign as short term as you can get. Ask for the right to sell it youself and the their fees if you do so.

Once again you are not stuck. A reputable Realtor will only list exclusively.

Phobia
04-04-2007, 11:55 PM
You keep saying "reputable" Halfcan. What does "reputable" mean exactly? Does it have anything to do with making you feel comfortable while sticking it in and breaking it off? Would you say that CarMax is reputable? No, seriously - is CarMax one of those reputable places?

Halfcan
04-05-2007, 12:32 AM
we went through an agent just to avoid all the calls from so-called buyers that weren't that serious. lots of jerkoffs just wanted to know how much we were asking for the place.

sec

IF you want to sell it yourself ask yourself these questions.

1. Do I want to pay for the advertising for up to 6 months or longer? Newspaper ads cost a shitload and only bring in 5% or less of buyers. A Realtor will have a financial interest to get your house sold while using every available resource. While costing you Nothing up front.

2. How much is my time worth- am I better off trying to "save the commision"- and then do all the work including qualifying buyers,fixing up and maintaing the property, phone calls at all hours, prank calls, crazys, showings all day every day, open houses, writing the contract, making sure inspections are done in time, making sure the appraisal is done, setting up closing, making sure the buyer can close on time, all while finding and negoitiating a new home/ packing/working/ ect ect... Plus am I an expert on the closing sheet to know which ones are my expenses and what are Buyers expenses. Will I be able to tell if the Title company made a mistake on the closing sheet. When do I order title insurance-who pays for it? When does the buyer get his insurance on the house?? Am I savy enough to get the best deal on the new house and this one at the same time and save a double move? What happens if problems come up- inspection problems, approval problems, appraisal problems, VA funding problems, FHA problems, after the sale problems, the deal falling through problems. If you think Realtors just sit on their asses and rake it in-you don't know the business. What the hell is radon?? What do I have to disclose about my neighbors and the child molestor down the street. Did I disclose every material fact about the property to keep from getting sued later??? What is this Bond money thing in the contract? Do all buyers want closing cost paid-what is acceptable?

3. Do I even know the fair Market Value of my home and what is the average time for homes to sell in my neighborhood?? What is the difference in pricing methods. Can I put it all together and have a smooth transition into my new home without double payments. Am I protected if the deal falls through-what is my recourse-how much Earnest money should I ask for-and what circumstances do I get to keep it if the deal falls through. How can I protect my family from con artist and fraud, which is at an all time high right now. Is my family safe showing the home when I am gone- do not kid yourself-there is a security risk involved. Many Realtors get mugged and raped every year. What if I can't close on my new home on time-will I lose my money?? What is the return on my investment for any repairs that I am thinking about doing? How does accepting a MHDC Bond contract or City Grant money contract effect my bottom line. What if the appraisal comes back low-can the Buyer back out. What if it comes back high and I way underestimated my house??

If you can answer everyone of these questions-I would not even bother calling a Realtor. But most can't. PRIDE is what cost Sellers. Time on the market cost you, not to mention the smallest detail. I have saved my sellers thousands just at the closing table. Most of the time the final closing papers don't get done til that day because of the funding-everybody is rushing around. (Whoops-that $550 appraisal accidental got put on your line) but you missed it because you were thinking ahead. You just cost yourself $1100 on one typo.

Small minded folks will say screw the Realtors out of their job-but if you were having an operation and someone told you-screw those quack doctors- you can save all that money by doing it yourself-would you do it?? Hell no, that is your life. If you mess up on your house it can cost your HUGE money up front plus interest on that for up to 30 years. So before you go to the hardware store and slap up that for sale sign- you better do your homework first. Real Estate is a cut throat world and you will be just begging to get screwed over. Save yourself a ton of trouble by calling 3 Realtors that have been recomended by friends and just shut your mouth and listen. If you don't use them that is your choice, but at least you will have gotten an education for free. Put all the risk on them and not yourself, save the headaches and hassles, move, and live your life while knowing you made a great choice!

Halfcan
04-05-2007, 12:53 AM
You keep saying "reputable" Halfcan. What does "reputable" mean exactly? Does it have anything to do with making you feel comfortable while sticking it in and breaking it off? Would you say that CarMax is reputable? No, seriously - is CarMax one of those reputable places?

Just ask yourself-what am I getting for my $500- Nothing. To me that is not reputable. MlS has a minimum listing time and all commison and agency agreements have to spelled out. Most companies have a min commision they will charge. Those help you sell have the worst rep and most complaints. They sell you a sign and slap it onto their website.

So a Buyer agent will sell your house for free? Nope- usually want 2.5 to 4% or they will never even stop by, unless it is to get you to list.

Since you brought up Carmax-well it was a great part time job for me but I don't work there any more. It is a fortune 500 company and the best performing on the stock market last year. In the top 100 places to work 2 years in a row. They just had a stock split. They had record profits and the highest customer surveys in the industry. They outsell every dealer in the country 10 to 1 at least. They have strict privacy standards and an excellent warranty and customer service center. It is one of the fastest growing companies in the world with at least 10 new stores opening this year. They will sell 400,000 used cars this year while maintaing the highest standards in the biz.

Just because your time constraints didn't allow to wait until the right deal came along does not mean the whole company sucks. When you left you were talking about buying some van that possibly had frame damage-but sounded like a good deal. Carmax would never sell a car like that, and they put everything through a 125 point inspection and then gaurantee it is in good repair. With their buying power, process, system in place-their economies of scale-almost assure they will have the best prices with an average of $1000 or more below Blue book over the course of the year. I sold 118 cars for them and all my customers were happy, referred people to me, or came back and bought other cars.

Phobia
04-05-2007, 01:01 AM
I didn't buy the van with the possible frame damage. I don't even remember what the circumstances were on the frame damage. I do remember that the dealership selling that van had acquired it from CarMax. I passed on that one for a cleaner, lower mileage van at a small dealership for about $5k less than CarMax wanted for the same vehicle with less options and more options.

If I'm paying $500 to get listed on MLS I don't expect anything other than a listing. I think $500 is well worth it for both parties. But I'm a wheeler and dealer, I don't expect everybody to conduct business like me. I'm all about getting the best value for my hard earned money. Lucky for CarMax, not everybody is like me.

Mr. Plow
04-05-2007, 07:16 AM
Halfcan, I guess you could say you opened my eyes a bit when it comes time to sell my house.

We bought our house roughly 3 1/2 years ago with 1 child. We now have 3 and 1 on the way. Our "house we won't out grow" is quickly becoming smaller.

We have added two fire escape windows and a bedroom in the basement. Moved the staircase from beside the garage to inside the living room. Going to have a new yard & underground sprinklers installed. Put up a privacy fence. New carpet through out. What started as one job - finishing the basement - has turned into nearly redoing the entire home.

I'm hoping to see a good return on our investments in the home when it comes time to sell in a year or two.

alnorth
04-05-2007, 07:38 AM
To be fair, I dont want to sound like I'm just dismissing realtors either when I talk about needing a lawyer.

A lawyer does not necessarily have any idea what your home is worth, and he does not know anyone who is in the market for a home. His job is only to prevent you the seller from doing something incredibly stupid. A realtor will save you a lot of time, headache, and hassle as well as doing what they can to maximise the value that a willing buyer will pay. Unless you have a lot of time, contacts, and know exactly what your home is really worth in the current market, a realtor can easily make up the commission in time and/or money.

Once a buyer and seller is brought together, thats when you really need a lawyer to look out for you. You want to have someone on your side who can research the property and sale agreement for unknown problems, explain everything your signing, and if necessary look you in the eye and say that its in your best interests to refuse the agreement as written, even if it means losing the buyer.