On the road. · Member since 2017 · 35 posts · 9 votes
Seems challenging getting a real estate agent to provide comps for my property. 1st agent: lsit for $650k, 2nd agent: list for $680k, 3rd agent: list for $750k, and asked "would I consider getting an appraisal". (some of the back story regarding these agents, leads me to believe I'll do ok listing FSBO).
All the agents on here will try to get you to drink the Kool-Aid and vice versa. If you feel comfortable selling it yourself, go for it! It’s really not that complicated....good luck!
@Nancy N. the answer here would be based on you and the life you lead. What I mean by that is this, do you have the time and patience to market the property? Arrange open houses? handle inquiries? Do you have buyers or know people that can bring you buyers? I think the answers to these questions should help you to make your decision. All agents aren't created equal go back to those three agents and ask them what their strategy is to market the property and get the exposure needed to get it sold. I would also ask the why behind those prices and how long properties in your area take to sell. whichever agent has the most comprehensive answers that they can substantiate may be the one you want to go with. Saving 5 or 6% up front sounds great but not if it risks you getting 15-20% less than you could using a quality agent.
@Vaughn Smith, Hello. All agents have indicated this is not an area for an open house. I don't have buyers. I am consider offering a buyer's agent commission, they can always counter this offer of commission. The Seattle area market is up, I believe the potential sellers agent will market on NWMLS and a few have contacts and network source I would imagine. IDK. These are very good questions and I will discover. Today's exchange with agent #4, when I asked "would he except 5% commission", he said, "No, I spend approx. 4500.00 in still photos, video and drone shots". My gut is saying, "In this market all of this is unnecessary". I understand the concept of having clean, sharp, crisp, fresh images, according to what I read it can deliver more return. (per inman.com). I'll post 5/9 after agent #4 departs. I must say, this is an exciting journey. Thank you for sharing I value what everone here is teaching me.
The idea that a buyers agent does more work with a fsbo sale is definitely not true. This is something buyers agents push to get a higher rate from fsbo. The settlement company does most of the work post contract. On my last sale my biggest time waste was the buyer agent calling me continuously informing me inaccurately what was going on. I was talking direct to the closing attorney - buyer mortgage issues.
@Nancy N. Yes, the home price is not an exact science. Assuming you are doing the other things right* then the market will give you instant feedback on the listing price you chose:
lots of offers = priced too low
no offers = priced too high
Either way, adjust accordingly.
* The other big things are:
Pro photos (makes a world of difference)
Offering buyer agents a fair commission (2.5-3% is typical). Note that agents will gladly show your home if you are offering a market rate commission.
Note that some agents will say your home is worth an unjustifiably high value, in the hopes that you will list with them - the home won't sell and you'll have to lower the price to it's true value (known as "buying a listing")
Oh John, yeah, typical sales pitch. I have a photographer lined up, since its an estate property I want stills and drone. I totally get it about good images. It's worth the money. I actually researched several within a 50 mile radius of the property. I had an agent tell me it cost him $4500 -$5000 for photos. I thought, "I better be able to eat one of those images and it better be tasting like truffle kobe beef. lol The pro photographer I'm going to utilize gave me three leads on agents as well. I may have a buyer without listing, and neighbor today said, I should consider carrying a contract at 6% interest...That's not a bad idea either. Thank you John! You're a rock star.
Brief update: Having images completed next week by Mirco Piazzi, Real Estate Photography, and the home property inspection by Jim Olson, of Chinook Building Inspections. I purchased these two home on 5 acres while in foreclosure, as I reflect...I've spent countless hours mostly solo DIY to complete this project. Perhaps I have a" fixer-up fetish". One has a raw canvas and you create a lifestyle for the next to enjoy. Thank you Bigger Pockets and especially to all the helpful members. Currently so friggin budget tight, I will upgrade to PRO. Timing is Everything. Blessings to All! N'
Update: Sold property in Stanwood, WA. FSBO, never listed it on MLS, paid buyers, agent, 3%. Cash out over $700K. Stagged property with what I had, hired home inspector, repaired all items he addressed, hired a professional photographer, listed property on Zillow, followed my stats 5 times a day with a goal of 20 days before I'd place on MLS. I'm satisfied and joyful. Wish to take this opportunity to thank Bigger Pockets and everyone here for your support, it gave me courage. Thank you, everyone.