THREE ways to list your home!
- Thread starter IowaRealEstate
- Start date
Been a while since I looked but I believe overall average is around 4 months or so. 99% of agents will try to get you to list for at least 6 months.
My average days on market in 2014 was 41 days.
I think the average days on market in my old neighborhood was around 200 days, but this guy sold my place for over asking price in 2 days.
I'm pretty sure it was the improvements from MY handiwork that sold it, but technically he was the listing agent. I'd recommend his services.
I'm pretty sure it was the improvements from MY handiwork that sold it, but technically he was the listing agent. I'd recommend his services.
Ever thought of doing a $2000 or 1%, whichever is greater, and just handle closing -- lawyer fees, set-up paper signing, etc? With all the new FSBO-esque sites out there, this might entice someone who doesn't want to hire a realtor, but doesn't know, or want to mess up, the closing process.
I would love something like this. I think in today's age of the internet, it is pretty easy to look at houses online and set up showings with the owner.
In this day and age, a realtor is becoming a little overrated -- even if they tell you they're not. With websites like zillow and FSBO, why pay someone $10,000-$20,000 when you can do it for a fraction of the cost? I can hire a photographer for $300, take panaramic shots of my rooms and upload to an online "virtual configurator", I can blast social media, I can have my own open house, I can put up my own open house signs, I can inform all local realtors who have buyers, I can put on FSBO sites, etc.
The entire commission model benefits the realtor. For an average $250k home, the realtor will make $15,000. Lets say the house has sat for a month and he/she recommends lowering the price to $240,000 to gain some interest (partly true, but really they just want their money quicker). The home owner would lose out on $10,000 but the realtor only loses out on $600 from their commission! Someone makes at offer at $235,000, recommends accepting -- homeowner is out $15,000 and realtor is only out $900!!
Sincerely,
Skeptical Sam from Central Iowa.
The entire commission model benefits the realtor. For an average $250k home, the realtor will make $15,000. Lets say the house has sat for a month and he/she recommends lowering the price to $240,000 to gain some interest (partly true, but really they just want their money quicker). The home owner would lose out on $10,000 but the realtor only loses out on $600 from their commission! Someone makes at offer at $235,000, recommends accepting -- homeowner is out $15,000 and realtor is only out $900!!
Sincerely,
Skeptical Sam from Central Iowa.
Pretty much my thoughts as well
3 weeks ago I had no interest in selling my home, then some friends come down and told us they found a house they were putting an offer in on. We discussed how we'd like to talk before they list it and then sell our house. We came up with an offer contiguent on selling our house and I started looking at realtors...... If I bought their house at the full 7% rate and then sold my house at 7% full rate, that is $36K it costs me.....ya I know it don't cost me but ultimately it does if seller has a bottom net price...... I listed my house in Waukee on FSBOHomes.com for about $1,500(Had I decided to get an appraisal($150) and preinspection($300) it would be $2K) and they take professional pics and provide a virtual tour online, they do all the closing docs and do the closes for me. They put it on Zillow, FB, Craigslist and coming soon the 2nd biggest online listing site whatever that is. They have an in-house attorney available to me and also will help out the buyer if they don't have a realtor.... Plus they have local office in Urbandale. My listing has been up for 6 days and have had 3 showings and one coming this afternoon, but I've also got hounded by 5 realtors now trying to get me to sign with them. I tell them I will negotiate a rate with them if they represent the buyer who buys my home but not interested in them representing me at this time. In each case I am cordial with them and ask them what they do that warrants me needing to pay them $16K on my house so they can sell it. One guy gives me an example of if I want to fly to Jamaica, I call an agent to line up the trip vs calling the airline myself and renting the plane??????? WTH?? Other then that goofy reply, I have not gotten a reply that tells me anything. One guy just replies with "Well I'll go down to 6% if you sign with me today" to which I ask him what he'll do to justify me paying him $13,700 now as opposed to $16,000 before.
I don't have a problem paying someone to help me out, but you'd better study up on good replies and tell me why I do it that way.
Call me Skeptical Sam's brother Byron
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I am in complete agreement with the two posters before me. I bought my current house off of facebook (no joke) and sold my old house on Zillow. All in no time at all. Clearly some (not all) realtors are panicking. In the new town I live in, all of the realtors got together and agreed to not post anything on Zillow (and were somehow able to get Zillow from posting from the MLS anyway). I just looked at the local MLS and there is 60 houses on the market in town, whereas on Zillow there is 4 listed.
I asked a realtor friend in town what the deal was and he explained that Zillow doesn't put accurate information on its site and it was hurting them because of it. In reality they want as little houses on Zillow as possible so people will stop going to the site and see the other FSBO homes and will instead go through their site to see the MLS listings. I think they are realizing that (at least in this town) people don't need them as much anymore to sell their house. They are going to have to cut down on their commission price for some to even consider listing with them.
Call me Skeptical Sam and Bashful Byron's brother Mikey
I asked a realtor friend in town what the deal was and he explained that Zillow doesn't put accurate information on its site and it was hurting them because of it. In reality they want as little houses on Zillow as possible so people will stop going to the site and see the other FSBO homes and will instead go through their site to see the MLS listings. I think they are realizing that (at least in this town) people don't need them as much anymore to sell their house. They are going to have to cut down on their commission price for some to even consider listing with them.
Call me Skeptical Sam and Bashful Byron's brother Mikey
If you are referring to perks, you get access to our free moving truck and we will also get your new home cleaned before you move in.
I have thought about this and while I have nothing official at this time, I have helped FSBO's in the past and typically charge 1% to assist them based on what they need.
As of now, I write them a check for $1,000! That is a new perk, get an offer inside three months or I pay out of my own pocket.
Other than that, it depends on the circumstances. If we have a good relationship and they are getting showings, they might sign up for another three months. If the listing is stale and they don't want to lower the price, I wish them luck with their next agent.
I certianly won't debate that there are times when an agent seems useless. However, roughly 80% of people who try to go FSBO fail and hire an agent.
Yes, everybody knows somebody that sold their home and claims it was a breeze, but for every one of those, there are 8 to 9 others who hated the process or could not get the job done.
On the buying side, if the house is listed, it makes no sense to go it alone. The seller is already paying the commission. Align yourself with a pro that knows the market and how things work. It will help you in the long run.
As far as commission goes, as you can see I try to be flexible with those. Commission is not one size fits all, hence I offer three types depending upon what the seller values.
The larger point is this. I get it. I know some people think what I do is dumb or unneeded. To each their own.
I also know I have helped hundreds of people over the last 10 years that are glad I was on their side. I sleep well at night knowing I provide a valuable service. I don't expect everyone to agree with that.
I also know I have helped hundreds of people over the last 10 years that are glad I was on their side. I sleep well at night knowing I provide a valuable service. I don't expect everyone to agree with that.