All Forum Posts by: Sherry Solomon

First off, you can fight your assessment, depending on different factors. I would recommend speaking with an agent about that possibility.

If you must sell, there are a lot of things required to sell property in NY, but FSBO can work if you actually find a buyer. Trouble is that the market is so uncertain right now, that you might have your property sit for a while no matter how well marketed it is, but certainly limiting your exposure by not listing it won't help that. Agents bring the full connection of the MLS but they also have personal contacts who may not be looking at Savvy Lane or wherever else you choose to post your property. And commission rates can be negotiated, despite what some agents might want you to think.

That being said, if you DO have a deal in place, you may want to have an agent make the sale actually happen, particularly since you aren’t local. I have done this sometimes, for a flat fee, and since there’s no marketing, negotiations, showing or other aspects involved, it’s something that can be done for a reasonable flat fee. Some attorneys may be happy to do it all for you - but they will certainly charge you for the time as well. You may be better off going that route, depending on their rates. 

It really depends on how desperate you are to sell quickly- you can definitely save money, but it's a bit of a gamble. You may come out way ahead by using an agent. But you may not - there are agents who like to quote misleading statistics regarding FSBO and sale prices. It's not as clear-cut as the National Association of Realtors would like to make it sound, because their studies were skewed by several factors. You CAN do really well on your own. If you are interested in exploring any of the options, I’d be happy to help.

Warren Engineering is my go-to. Excellent - they are very professional, know their stuff, and reasonable.

I am pretty new to the business, and have the opposite problem of most newbies. Typically you hear that it's hard to find your first few clients. I actually have a decent number of (buyer) clients. But there are just no houses.

My clients are all interested in a very small and specific area (one which is also in high general demand). I am desperate to find houses. I want to knock on doors and am hoping to get some been-there-done-that advice. There is one house that has been in preforclosure since October. A few months back, I hand-delivered a letter (taped it to their door). It was hand-written, warm, sympathetic, etc. I never heard from them, and I'm not really surprised. Now, with the Spring market thus far disappointing me as far as inventory goes, I am considering knocking on their door.

Any tips? Dos/Don'ts?

I am also thinking about just knocking on doors generally. This market is so crazy that everything is selling for crazy prices. So it's a good time for this kind of strategy, I think, but i have no idea how to pick a house to target. Any ideas or suggestions would be very much appreciated.

i’ve been going back-and-forth with someone about this and I’m trying to figure out:  what is a reasonable figure for an investor to told her property manager that they can spend on repairs without specific authorization? The investor in my situation wants to say $200,  And the property manager is going ballistic, saying he can’t work this way, He needs to be able to do what he has to do for anything $500 or less.  The manager in this situation runs a huge operation and he’s not just making up numbers left and right. 

Which number is realistic and responsible?

With regards to price expectations in the districts you mentioned, prices have recently gone up a bit. Nothing dramatic for someone who is coming from a million dollar market, but what was going for 150 last summer is now going for closer to 200. Depends on the exact neighborhood. Still wonderfully affordable, but not as awesome as it was.

I have a buyer client who is very interested in a particular house that is in preforclosure. I spoke with the forclosure attorney, and was told that it is still at the point where the homeowner can make a deal to sell. I am trying to write a letter to the owners and am blanking out. Can anyone help me to express sufficient sympathy that I don't sound heartless, but not so much that I sound like a sleazy salesman?

Also, for those who are familar with preforclosures - does this sound like it would have to be a short sale? How does it differ from a regular sale - ie., what do I need to be careful about in order not to mess this up?

duplexes with a few singles thrown in

Not sure I'm allowed to in the discussion forum - might be considered advertising?

I have a portfolio that I have had listed on the Rochester MLS, and I also listed it on LoopNet. LoopNet salespeople have been pushing a hard sell on me, trying to get me to buy a membership, but there is just no advertising budget for this particular situation. Now LoopNet is going to completely paid memberships, and I am looking for other options. Any recommendations?