All Forum Posts by: Dan Farkas

I am a Realtor and I want to throw in my two cents. No. You dont need a Realtor but in EVERY case where I have represented a buyer who wants to buy a unlisted/unrepresented home the appraisal came in much higher than our negotiated price. Some as much as 17% more. Additionally in each case the sellers all agreed to pay me my normal comission. So are you ahead financially? In my experience, no. In my area, we have little inventory and yes if a house is added to Zillow or other websites by a seller there is a pretty good chance that the home will sell. Heres the problem: We agents are getting multiple offers on many listings within days or hours of it hitting the MLS. We are begging for houses to sell. I think by selling your home yourself you are cutting out much of the traffic that would come to your house and in my opinion getting more interested buyers usually means more net for a seller. I recently read a facebook post from a seller who just sold their home with multiple offers and she received $100.00 over list price! When I looked up their home and the sales price, i think they left thousands on the table (or just gave it to the buyer in this case) What does a realtor do? I guess from my standpoint is what we (NAR) have been saying consistently for decades. Basically we get you more for your house. NAR says 9% but my numbers are running at around 11% (the best I can figure)

I would love to hear your opinion on prices and ECT.

@danny nelson sure! That would be great!

Matthew Michels absolutely!

When I took my real estate salesperson and Broker test in Michigan I too was overwhelmed. Our state test does not prepare you to be a real estate agent at all. Concentrate on passing the test by taking practice exams and then hang your license at a brokerage that has many agents and training.

@Phuong Tran absolutely

@Jacques Cyr I did find out but thank you for your response. I will stop on out sometime! Thanks!

Absolutely. 

Highest and Best along with escalation clauses have been tactics used by sellers around here (Grand Rapids, Mi) for a few years. Its it frustrating to have a listing agent come back to your offer and counter on price but there is a few reasons why. The listing agent only owes the seller any fiduciary responsibility. They do not owe anybody else involved in the transaction anything. The LA is trying to get more money for the seller and they are allowed to do so if you are in that situation, pay attention. That listing agent is reaching out to you because all of the rest of your terms are favorable to the seller so there is your chance. If you really want the property, change your offer.

I am a broker and investor in Grand Rapids Michigan. Let me know If i can help.