Real Estate Agent · Kansas City, MO · Member since 2015 · 61 posts · 35 votes
8y
In this market your losing money by not listing with an agent. I listed my flip last week and had 75 showings in 6 days and a bidding war. Having Multiple offers to give to the appraiser to justify the selling price also helps with what I’m getting. Multiple offers are very common and always give sellers options. Inventory is so low you want to leverage buyers anxiety.
Flipper/Rehabber · Montgomery, NY · Member since 2016 · 2k+ posts · 1k+ votes
8y
If you are confident in the house you can list there and hope the right buyer finds it. I imagine someone will. I imagine most buyers do find their house online, but probably an MLS listed house that shows up on all of the search engine.
If you aren't in a hurry to sell, give Zillow a couple weeks/month and seen what happens. Flat fee works well if the Zillow free listing doesn't, but I would offer a buyer agent commission.
All the agents/brokers in this tread tell you basically you are missing out. And all the non agents/brokers, are telling you it is ok.
Not saying anything other than it is funny ^_^.
Both sides have good points. I just think it is funny!
Ahhhh...... not so fast. While you see Broker next to my name it is for my purposes as I flip houses. I have not done residential sales since the mid 90s
I stand by my comment that he probably 5% of the buyers in his market
None of the try it out for a while posters asked what his carrying costs were. Nor is he family with the process. Also does he live in a market where listings go stale quickly?
I sell all over Texas and list with other agents often. Why? I want to turn my money over as quickly as possible and do not want to miss out on potential buyers
My guess is more often than not the net is higher using an agent
Real Estate Broker · San Diego, CA · Member since 2015 · 725 posts · 129 votes
8y
The flat fee listings are cheap (e.g. $100) and you get much better exposure (MLS, realtor.com, broker sites, etc). By listing only on Zillow, you are most likely leaving money on the table. Free is great, but in this case it's penny wise and pound foolish IMO.
Real Estate Agent · Palm Beach Gardens, FL · Member since 2017 · 199 posts · 124 votes
8y
I'm an Agent/Investor and I say try it for a few weeks and see if you get any hits. If you priced it right and know your comps that is the most important. Sure you will get more exposure on MLS but even I will try Zillow only with my flip to see if I can save 3% that I would pay to a buyers agent. I will try it for 2 weeks and see what happens. Nothing to lose unless you are in a big hurry.
I'm an Agent/Investor and I say try it for a few weeks and see if you get any hits. If you priced it right and know your comps that is the most important. Sure you will get more exposure on MLS but even I will try Zillow only with my flip to see if I can save 3% that I would pay to a buyers agent. I will try it for 2 weeks and see what happens. Nothing to lose unless you are in a big hurry.
How does listing for free on Zillow save you from paying commission to a buyer's agent?
Cupertino, CA · Member since 2014 · 59 posts · 22 votes
8y
I also at times wonder why do we need an agent to list the house when we have internet and everything/everyone is hyper connected.
Do we need to pay 4-6% for the amount of efforts required to sell a house? No offense to my real estate agents friends here but thinking out loud.
Also, based on my little experience in Blockchain, I am sure that day is not far when we won’t be needing a tittle company and maybe an agent too to sell a house.
I also at times wonder why do we need an agent to list the house when we have internet and everything/everyone is hyper connected.
Do we need to pay 4-6% for the amount of efforts required to sell a house? No offense to my real estate agents friends here but thinking out loud.
Also, based on my little experience in Blockchain, I am sure that day is not far when we won’t be needing a tittle company and maybe an agent too to sell a house.
One time I sold a vacant piece of land without a title company.
I typed my own Warranty Deed by copying the old one. Come to find out the courthouse has standard forms for this. It cost $18 total.
You can find everything that a title company can by searching the county Property Appraiser (or assessor, if they call it that), and by searching the county Recorder or Clerk to look for liens.
Cupertino, CA · Member since 2014 · 59 posts · 22 votes
8y
Patrick Philip - you are exactly right!
Imagine the amount one has to pay a real estate agent in expensive places like, San Francisco Bay Area considering most of the time sellers and buyers agent is the same person #SCAM
For example, If a home is listed for $1.5M in SFO - agent may take home $60k for doing very little since home sells for itself there because of the bidding war and low supply.
Downers Grove, IL · Member since 2017 · 366 posts · 165 votes
8y
Interesting thread, I am taking the totally the opposite approach. Have a real estate license with a low fee managing broker. Will be listing one my rentals on the MLS with a 5% Co-op fee. Over 90% of the listings in this area pay a 2.50% Co-op.
Putting a property on the MLS without a Co-op fee is useless. Putting a listing on the MLS with a double sized Co-op fee, might be overkill. Would rather have extremely motivated agents trying to sell my property. Even with the internet agents still have a fair amount of sway with buyers. Agents often claim commission has nothing to do with their sale process, no doubt there are some agent saints with purly selfless motivations, I like my odds of dealing with non saints a bit better.