Selling Your Home
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From: Long Island, NY
Yah thats a 400k home in my town. And the taxes would be around $8200. lol I need to move. My area is expensive but it wouldnt even come cloe to L.A.
Last edited by 05supercrew; Aug 30, 2006 at 02:34 PM.
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I'd just like to add my family owns an Assist-2-Sell franchise and like all franchises they are individually owned and operated. What one office does, one office might not do. I just know how our office is operated.
I hope I’m understanding you correctly but. . I do not doubt you but I've never heard an Assist-2-Sell office making the seller pay the commission before hand on a 'MLS for Less' program. Kind of odd. . Here in my office we don't charge the seller ANYTHING until the house is sold. $2995 when the house is closed if the home is sold in house. However we usually advise a 2-3% commission for another realtor selling the home. Either way you look at it, you're still saving a lot of money compared to a 'traditional' office. Much better than the Buy Owner and Help-U-Sell programs, where when you list you also write a check to them. It doesn't make sense. Who do you think is going to perform better; someone who gets paid before they do their job or someone who has to work for your money? Anyways, how would you rate the whole process? . . and would you do it again?
There is no dirty secret about it. Most realtors will flat out tell clients that to give the Assist-2-Sell franchise a bad rep or to scare them from ever using one. It just doesn't make sense why another realtor wouldn't show any of our homes? They can write an offer and put in how much they would like for commission, no big secret there. What difference would it make to the realtor? Here in Florida, we're experiencing a lot of 'traditional' offices trying to 'buy listings' instead of pricing homes at a reasonable price. It’s a bad situation for the realtors and the home owners and buyers.
Originally Posted by 1depd
I just finished selling mine. Unless your in an area that has rapidly selling houses I'd probably go with one of the various discount brokers. I used Assist-To-Sell, but there are many others. The discounters offer essentially the same service as the full priced brokers. They can put it on MLS for you or just thier own website. With Assist-To-Sell I had to pay the agent commission before the house sold if I wanted it on MLS. They showed the house and did all of the paperwork. The bad part is if an agent from another office showed the house I had to pay thier commission also. So if it was a fee only agent I had to pay thier fee. If it was a full priced agent I had to pay thier 2.5% commission. In my case a full priced agent showed my house and I had to pay thier commission. I still saved a few thousand off the full priced broker.
I did have to do my own open houses. My buyer didn't come from the open house he drove by ans saw it on the market. This was my fourth house and this was the first time I used a discount broker, and was the first time I had open houses. They weren't all that bad. The other bad part is some of the full service agents told thier client that I would come way down, because I was using a discount broker. The bozo clients believed them instead of doing thier homework. If they would have done a simple check on Realtor.com they would have seen I was the cheapest house in the neighborhood and had already passed some of the saving on. I had my closest competitor beat by $10,000.
I did have to do my own open houses. My buyer didn't come from the open house he drove by ans saw it on the market. This was my fourth house and this was the first time I used a discount broker, and was the first time I had open houses. They weren't all that bad. The other bad part is some of the full service agents told thier client that I would come way down, because I was using a discount broker. The bozo clients believed them instead of doing thier homework. If they would have done a simple check on Realtor.com they would have seen I was the cheapest house in the neighborhood and had already passed some of the saving on. I had my closest competitor beat by $10,000.
Originally Posted by BROTHERDAVE
the dirty little secrets about assist to sale is that most realators wont or dont show them. in houston i am seeing more and more what i call "power agents" people that sale alot of homes in a specific area, they specialize in that area and most work with the buyer and seller so they get the full 6% commision. they will typically move a house much faster than the normal agents but ther sale prices are lower. if you need to move quickley or if you have already purchased the next house and dont want double payments, i suggest going with a specialist in your area.
Last edited by ThumperMX113; Aug 30, 2006 at 08:29 PM.
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From: Friendswood Texas
There is no dirty secret about it. Most realtors will flat out tell clients that to give the Assist-2-Sell franchise a bad rep or to scare them from ever using one. It just doesn't make sense why another realtor wouldn't show any of our homes? They can write an offer and put in how much they would like for commission, no big secret there. What difference would it make to the realtor? Here in Florida, we're experiencing a lot of 'traditional' offices trying to 'buy listings' instead of pricing homes at a reasonable price. It’s a bad situation for the realtors and the home owners and buyers.
it is a problem because a showing agent has no contract with the potential buyer. They make commission only if the buyer purchases a house. There is nothing to stop a buyer from looking at 12 homes on a Sunday with an agent, while leaving the neighborhood seeing an Assist-to Sell home and do 1 of 2 things, remember the address and call when they get home or have the agent show them the house and then go home and call assist to sale direct. Like i said, the is no money exchanged or contract written for an agent show you homes.
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Originally Posted by BROTHERDAVE
it is a secret to most home seller.
it is a problem because a showing agent has no contract with the potential buyer. They make commission only if the buyer purchases a house. There is nothing to stop a buyer from looking at 12 homes on a Sunday with an agent, while leaving the neighborhood seeing an Assist-to Sell home and do 1 of 2 things, remember the address and call when they get home or have the agent show them the house and then go home and call assist to sale direct. Like i said, the is no money exchanged or contract written for an agent show you homes.
it is a problem because a showing agent has no contract with the potential buyer. They make commission only if the buyer purchases a house. There is nothing to stop a buyer from looking at 12 homes on a Sunday with an agent, while leaving the neighborhood seeing an Assist-to Sell home and do 1 of 2 things, remember the address and call when they get home or have the agent show them the house and then go home and call assist to sale direct. Like i said, the is no money exchanged or contract written for an agent show you homes.
Correct but there is no difference between this happening with an Assist-2-Sell listing or a 'traditional' office's listing. Theres nothing stopping it from happening to our agents as well, we have buyer agents as well. This has been happening for a long time, even before 'discount' real estate companies.
Last edited by ThumperMX113; Aug 30, 2006 at 09:04 PM.
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From: Friendswood Texas
Correct but there is no difference between this happening with an Assist-2-Sell listing or a 'traditional' office's listing. Theres nothing stopping it from happening to our agents as well, we have buyer agents as well. This has been happening for a long time, even before 'discount' real estate companies.
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i have purchased 5 homes in the last 17 years, i currently just purchased one and i own 2 rental properties, my mother-in-law owned a Remax with 42 agents, you speak as if you own or work for an assist to sell. I mean no disrespect but at age 17 what is your experience with this.
Last edited by BROTHERDAVE; Aug 30, 2006 at 09:41 PM.
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Originally Posted by BROTHERDAVE
while you are correct, it is a guaranteed 0% commision if you call an assist to sell, call any agent and you will pay something. The odds of it happening with an assist-2-sell are much larger.
i have purchased 5 homes in the last 17 years, i currently just purchased one and i own 2 rental properties, my mother-in-law owned a Remax with 42 agents, you speak as if you own or work for an assist to sell. I mean no disrespect but at age 17 what is your experience with this.
i have purchased 5 homes in the last 17 years, i currently just purchased one and i own 2 rental properties, my mother-in-law owned a Remax with 42 agents, you speak as if you own or work for an assist to sell. I mean no disrespect but at age 17 what is your experience with this.
Yes, Im only 18. I have a lot more to learn about the real estate world but Im getting there. My entire family has been into real estate before I was born so I've grown up around it. My grandpa is the owner of a major construction company down in South Florida who does a lot of commerical buildings and schools. My parents have been buying investment properties before I was born. My mother has been a realtor for a while, she worked for ERA, Remax before opening her own office. . and like I said my parents are now the owners of an Assist-2-Sell franchise here in Central Florida and I am an employee. Im not trying to sound like a know it all because I am far from it.
Last edited by ThumperMX113; Aug 30, 2006 at 10:01 PM.
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From: Friendswood Texas
Yes, Im only 18. I have a lot more to learn about the real estate world but Im getting there. My entire family has been into real estate before I was born so I've grown up around it. My grandpa is the owner of a major construction company down in South Florida who does a lot of commerical buildings and schools. My parents have been buying investment properties before I was born. My mother has been a realtor for a while, she worked for ERA, Remax before opening her own office. . and like I said my parents are now the owners of an Assist-2-Sell franchise here in Central Florida and I am an employee. Im not trying to sound like a know it all because I am far from it.
Im not following you. If you use Assist-2-Sell to buy a home its the same thing as any 'traditional' office, you'll still pay the commission once you close
I know you know this but the buyer dosent care, the seller pays the commission.
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From: Miami, Florida
My wife is a realtor for a company called Keller Williams here in Miami and she has seen at least a dozen FSBO get burned by savy investors and buyers. They were talked down right from the begining and got hammered on the legal side of the buyers contract. Be careful and at least hire a real estate lawyer before you sign or accept anything, even a verbal agreement. Many times the sellers ended up with less money than if they would have used a realtor in the first place. But at $82,000 there isn't a lot of play in the asking price to begin with.
And by the way, were selling a 3/2 w/garage and a pool with 1700 interior sq. ft. and on a 9000 sq. ft. lot for $600,000. A house that size around here would fetch around $650,000 in this soft market. Good luck
.
Peace
And by the way, were selling a 3/2 w/garage and a pool with 1700 interior sq. ft. and on a 9000 sq. ft. lot for $600,000. A house that size around here would fetch around $650,000 in this soft market. Good luck
.Peace
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From: Gulf Coast
Thumper-- You understood correctly. If I wanted to list my house on the MLS, I had to pay the 2995 when they listed it. I chose not to list it on MLS and still had a contract within a month. I would have used Assist-to-Sell with my current purchase, but they are just starting in this area and are not well advertised, connected, or located. I've seen them with only two listings in the entire area. One was or a way overpriced house (20 yrs old and 3/4 the size of my being built house) and the other was for some low lying land near the house I found to buy.
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From: San Diego, California
I have a broker’s license, and currently a commercial property investor. So I’ll chime in here on my experiences with residential real estate. In this slowing market, selling your home yourself, or with a discounter is not a good idea. You need a good aggressive agent in this market. Here are some important points …
Note: 6% listing is usually broken down to 3% to listing agent and 3% to buyer’s agent (aka CBB).
- Majority of FSBO eventually will list with agents, especially in this market. They will also spend a couple of months trying to sell their homes while paying their mortgage and losing value on their home in this sliding market. Most are overpriced.
- Listing agents have the majority of qualified buyers on the market.
- Simply listing in the MLS means nothing. You need to offer at least 2.5% or 3.0% to get another agent to want to show your home. There are tons of 3.0% listings on the market, why would a buyer’s agent show your home if they aren’t getting compensated enough?
- Even if a buyer decided to make an offer on your home, do you think they will offer you the same amount of money they would that house across the street that is represented by a full service Realtor? No, they will low ball you the difference knowing you are saving the commission. So your doing all that work yourself, taking all the legal risks to save the buyer money? Remember that it’s the buyer that sues the seller 99% of the time when things go wrong.
- Even if you are a FSBO, and offer a full commission to the buyer’s agent, they will most likely try to avoid you since they will have to do double the work. They know they will have to work your end and their end to complete the sale all the way thru escrow. They rather show homes listed by agents, since they will only have to work their end.
You want to sell your house? You need to put it on the market at the correct price, and offer full commission so you get plenty of qualified buyers to see your house. If you price it at the current market price, prepare to wait 3-6 months to sell it. If you overprice it a little, you will never sell it. If you need to sell it in two months or less, then 5%-10% below market price is a must.
Good Luck Out There My Friend!!!
BTW - Jamz, I'd sell your house for $450,000 here in San Diego!
Note: 6% listing is usually broken down to 3% to listing agent and 3% to buyer’s agent (aka CBB).
- Majority of FSBO eventually will list with agents, especially in this market. They will also spend a couple of months trying to sell their homes while paying their mortgage and losing value on their home in this sliding market. Most are overpriced.
- Listing agents have the majority of qualified buyers on the market.
- Simply listing in the MLS means nothing. You need to offer at least 2.5% or 3.0% to get another agent to want to show your home. There are tons of 3.0% listings on the market, why would a buyer’s agent show your home if they aren’t getting compensated enough?
- Even if a buyer decided to make an offer on your home, do you think they will offer you the same amount of money they would that house across the street that is represented by a full service Realtor? No, they will low ball you the difference knowing you are saving the commission. So your doing all that work yourself, taking all the legal risks to save the buyer money? Remember that it’s the buyer that sues the seller 99% of the time when things go wrong.
- Even if you are a FSBO, and offer a full commission to the buyer’s agent, they will most likely try to avoid you since they will have to do double the work. They know they will have to work your end and their end to complete the sale all the way thru escrow. They rather show homes listed by agents, since they will only have to work their end.
You want to sell your house? You need to put it on the market at the correct price, and offer full commission so you get plenty of qualified buyers to see your house. If you price it at the current market price, prepare to wait 3-6 months to sell it. If you overprice it a little, you will never sell it. If you need to sell it in two months or less, then 5%-10% below market price is a must.
Good Luck Out There My Friend!!!
BTW - Jamz, I'd sell your house for $450,000 here in San Diego!
Last edited by gpaje; Aug 31, 2006 at 11:45 PM.