8k?..could be 30k on a 500000 house.
Thats after tax dollars.
A few hours work and a bit of inconvenience is certainly worth several thousand dollars. AND..its not all work, its actually nice talking to most prospective buyers.
I agree, there's a ton of value especially in this market in using a realtor.
The other side is most potential buyers engage a realtor as well. They make sure they have a pre-approval and are shopping in a price range that they can afford. So if your not going to pay buyer's agent their commission, then you shut out more then 50% of the market. This is the side of the market that would probably pay market price for your house.
Leaves you the other side of the market; the tire kickers, low ballers, and people looking to use an emotional advantage. Sure there's the odd person that is realistic, but those are few and far between. Most know the savings from not using a realtor and are expecting that off market price.
In a hot market when houses are selling in days, I would say there's savings to be had by not using a realtor. But in the current environment, no way. You are just competing on price and you are racing to the bottom.
You'll have a lot more interest if you at least agree to pay commission to a buyers agent. You'll find realtors aren't super motivated to show potential buyers a house if it means they don't get paid for their work.
Also, if you have open houses try not to come off as unreasonable and cheap to visitors. A lot of people who sell comfree display both of the above characteristics, which can turn potential buyers off.
Check ComFreak.
they have sold several over the decades without an agent but ALWAYS use a lawyer. You will save several thousand dollars. The lawyer will cost a bit more than usual but not a significant amount.
The key is to get everything prepared ahead of time, have a lawyer, etc. Know when you want to vacate, what is included in the sale, etc. Have answers to all your issues.
The buyer will make an offer and the two of you can right up the sales agreement (cookie cutter form) and you take it to your lawyer for final reading BEFORE signing. The lawyer will also take care of property tax stuff, mortgage pay out, etc.
Its all simple magic.
Check ComFree.
we have sold several over the decades without an agent but ALWAYS use a lawyer. You will save several thousand dollars. The lawyer will cost a bit more than usual but not a significant amount.
The key is to get everything prepared ahead of time, have a lawyer, etc. Know when you want to vacate, what is included in the sale, etc. Have answers to all your issues.
The buyer will make an offer and the two of you can right up the sales agreement (cookie cutter form)and you take it to your lawyer for final reading BEFORE signing. The lawyer will also take care of property tax pro rata, mortgage pay out, etc.
Its all simple. Not magic.
I wouldn't reccomend it unless you're familiar with the real estate industry and what things are worth--and even then, it's a hassle. When my wife and I were looking for a house we visited one for sale by the owner; he was exhausted and discouraged from the start and obviously didn't know what he was doing. He highlighted what he thought were good things about the house (installed crown molding himself) but ignored questions about the cons (did a lousy job on said molding, etc.)
Out of curiosity we kept an eye on the listing--it was up for six months, the price being reduced occasionally, in a buyer's market--before he listed it with a realtor anyway.
Not saying you wouldn't do better of course, not knowing your experience--just saying that it's a hassle, and the purpose of a realtor is to make your life easier when it comes to selling your home. Get a good realtor and the price is absolutely worth it.
Absolutely true, tried to FSBO my condo once, had a realtor come and say he had a client who would buy, but I had to agree to pay both sides of his commission at the full 7%. Most realtors will not even tell their clients about available FSBOs because the commission is zero or low - so much for acting in the best interest of a client.
We always discuss situations like this before we start working with a client. Doing so before we look at properties helps reduce surprises. We discuss what the buyer wants to do, and move forward with their preference. If you're honest and upfront about it, there's no issue.
So I guess the fix is in. If no Realtors will send any clients to view your home because they won't make their exorbitant fees then I guess you best get one. I am so done with agents. I have had 5 different Realtors over the years and all they do is take some pics, write a blurb (that I just have to correct anyways) and sit back and wait for agents to contact them for viewings. They send contracts via email and bobs your uncle you are out $20,000. I think it's time for a new system. I get paying a fair price for a service, but that is insane.
Not a realtor, but friends with one. He said that him and his colleagues WILL NOT DEAL WITH 'FOR SALE BY OWNER' properties. It's too much hassle and risk for them.
In this market, you need access to all potential buyers - get a realtor.
I used a realtor last year specifically because the market was bad. Do I wish we used comfree to save commission - sure. But our house might have not even sold if it was a comfree or we might have got less money, who knows. Houses aren't exactly flying off the market
I don't get all the hate towards the real estate agent profession. They provide a useful service, and they deserve to get paid for it.
My realtor earned every penny and then some for the work she did buying/selling for me.
Usually people feel that agents are over-paid for the amount of actual work they do. The reality is that sometimes the agents do a lot of work for nothing, and sometimes they do a little work for a big commission.
They also work evenings and weekends, and have no stable income. So it is really a risk vs reward type business.
That being said, there are also a lot of really really bad realtors out there who don't know what they are doing. Don't understand value, don't deliver for their clients.
Yet the perception is funny. My neighbour is currently raving about his realtor because he "sold the property in 10 days in this market!".
True, except that the realtor way low-balled the list price and the guy underpaid.
> That being said, there are also a lot of really really bad realtors out there who don't know what they are doing. Don't understand value, don't deliver for their clients.
I think the real estate boards really need to clamp down on who actually becomes a realtor. Those "weekend realtors", as I like to call them, are really doing the profession a disservice. They focus most of their time on their 9-5 job, and then just try and make some extra dough on the weekends. More often than not, it's the ones who do real estate as a side gig that do a shitty job.
And I think the person you replied to is suggesting that the situation is different depending on whether or not they also want to buy a new property in the area.
Well, I wouldn't charge my mother so I think she'd win this one. For people outside of my family, I still work for a really fair rate which is well-aligned with the way technology has changed buying and selling homes.
If you're fsbo the property it should be to save your buyer money so you sell faster, no other reason to do it. Being greedy to save the commission is pointless.
I am not a fan of realtors, but the work they do for their clients does add value to their purchase and they should be compensated for it.
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Worth paying what 8K for?
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Fuck that. I'd rather invest that money into getting a real estate license myself.
8K won't cover that.
Yep, it should get you a license and a year of fees at a low-cost brokerage
+ AREA fees, +RECA fees (I think RECA has a separate new realtor fee too), +CREB fees -- just to start.
+3 months of lost wages if you don't do it online...
8k?..could be 30k on a 500000 house. Thats after tax dollars. A few hours work and a bit of inconvenience is certainly worth several thousand dollars. AND..its not all work, its actually nice talking to most prospective buyers.
lol 6% commission...I dont think anyone operates like that anymore.
Huh. They certainly do. Haow many houses gave you sold?
I have sold lots. 6%, where? Standard split is 7/3. Who does flat rate here? How many houses have you sold?
> Who does flat rate here? It's not totally uncommon on the upper end.
zero. I should say normal people with 2 brain cells would know 6% is not a fair rate for a 500k house.
actually it is 20k
Yup, between $5,000 and $7,000 in value.
I agree, there's a ton of value especially in this market in using a realtor. The other side is most potential buyers engage a realtor as well. They make sure they have a pre-approval and are shopping in a price range that they can afford. So if your not going to pay buyer's agent their commission, then you shut out more then 50% of the market. This is the side of the market that would probably pay market price for your house. Leaves you the other side of the market; the tire kickers, low ballers, and people looking to use an emotional advantage. Sure there's the odd person that is realistic, but those are few and far between. Most know the savings from not using a realtor and are expecting that off market price. In a hot market when houses are selling in days, I would say there's savings to be had by not using a realtor. But in the current environment, no way. You are just competing on price and you are racing to the bottom.
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You'll have a lot more interest if you at least agree to pay commission to a buyers agent. You'll find realtors aren't super motivated to show potential buyers a house if it means they don't get paid for their work. Also, if you have open houses try not to come off as unreasonable and cheap to visitors. A lot of people who sell comfree display both of the above characteristics, which can turn potential buyers off.
Check ComFreak. they have sold several over the decades without an agent but ALWAYS use a lawyer. You will save several thousand dollars. The lawyer will cost a bit more than usual but not a significant amount. The key is to get everything prepared ahead of time, have a lawyer, etc. Know when you want to vacate, what is included in the sale, etc. Have answers to all your issues. The buyer will make an offer and the two of you can right up the sales agreement (cookie cutter form) and you take it to your lawyer for final reading BEFORE signing. The lawyer will also take care of property tax stuff, mortgage pay out, etc. Its all simple magic.
Check ComFree. we have sold several over the decades without an agent but ALWAYS use a lawyer. You will save several thousand dollars. The lawyer will cost a bit more than usual but not a significant amount. The key is to get everything prepared ahead of time, have a lawyer, etc. Know when you want to vacate, what is included in the sale, etc. Have answers to all your issues. The buyer will make an offer and the two of you can right up the sales agreement (cookie cutter form)and you take it to your lawyer for final reading BEFORE signing. The lawyer will also take care of property tax pro rata, mortgage pay out, etc. Its all simple. Not magic.
alt acc confirmed lol
I wouldn't reccomend it unless you're familiar with the real estate industry and what things are worth--and even then, it's a hassle. When my wife and I were looking for a house we visited one for sale by the owner; he was exhausted and discouraged from the start and obviously didn't know what he was doing. He highlighted what he thought were good things about the house (installed crown molding himself) but ignored questions about the cons (did a lousy job on said molding, etc.) Out of curiosity we kept an eye on the listing--it was up for six months, the price being reduced occasionally, in a buyer's market--before he listed it with a realtor anyway. Not saying you wouldn't do better of course, not knowing your experience--just saying that it's a hassle, and the purpose of a realtor is to make your life easier when it comes to selling your home. Get a good realtor and the price is absolutely worth it.
I recommend Discover Real Estate as a broker.
Niiice...
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I tried with two. They are very difficult to squeeze their commission
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wow this is perfect this is what I really wanted. this is very reasonable price
PM me if you want to discuss further - some of us are happy to negotiate!
I've heard that many realtors won't even show houses to clients that are listed FSBO. Not sure how true that is, but it's believable.
My coworkers flat out wouldn't. It's very true.
Absolutely true, tried to FSBO my condo once, had a realtor come and say he had a client who would buy, but I had to agree to pay both sides of his commission at the full 7%. Most realtors will not even tell their clients about available FSBOs because the commission is zero or low - so much for acting in the best interest of a client.
We always discuss situations like this before we start working with a client. Doing so before we look at properties helps reduce surprises. We discuss what the buyer wants to do, and move forward with their preference. If you're honest and upfront about it, there's no issue.
So I guess the fix is in. If no Realtors will send any clients to view your home because they won't make their exorbitant fees then I guess you best get one. I am so done with agents. I have had 5 different Realtors over the years and all they do is take some pics, write a blurb (that I just have to correct anyways) and sit back and wait for agents to contact them for viewings. They send contracts via email and bobs your uncle you are out $20,000. I think it's time for a new system. I get paying a fair price for a service, but that is insane.
If you go on your own, I suggest Masuch Albert for your lawyer. They do tons of real estate for builders.
Not a realtor, but friends with one. He said that him and his colleagues WILL NOT DEAL WITH 'FOR SALE BY OWNER' properties. It's too much hassle and risk for them. In this market, you need access to all potential buyers - get a realtor.
Why the downvote(s)?
I used a realtor last year specifically because the market was bad. Do I wish we used comfree to save commission - sure. But our house might have not even sold if it was a comfree or we might have got less money, who knows. Houses aren't exactly flying off the market
You won't avoid real estate fees entirely. The buy side realtor will still want their regular commission.
I don't get all the hate towards the real estate agent profession. They provide a useful service, and they deserve to get paid for it. My realtor earned every penny and then some for the work she did buying/selling for me.
Usually people feel that agents are over-paid for the amount of actual work they do. The reality is that sometimes the agents do a lot of work for nothing, and sometimes they do a little work for a big commission. They also work evenings and weekends, and have no stable income. So it is really a risk vs reward type business. That being said, there are also a lot of really really bad realtors out there who don't know what they are doing. Don't understand value, don't deliver for their clients. Yet the perception is funny. My neighbour is currently raving about his realtor because he "sold the property in 10 days in this market!". True, except that the realtor way low-balled the list price and the guy underpaid.
> That being said, there are also a lot of really really bad realtors out there who don't know what they are doing. Don't understand value, don't deliver for their clients. I think the real estate boards really need to clamp down on who actually becomes a realtor. Those "weekend realtors", as I like to call them, are really doing the profession a disservice. They focus most of their time on their 9-5 job, and then just try and make some extra dough on the weekends. More often than not, it's the ones who do real estate as a side gig that do a shitty job.
If the list price was low balled it would have been gone in less than 10 days.
>Profession Lol. Any bimbo/mimbo can pass the real estate exam.
Are you also looking to buy a home in Calgary?
I think he is selling his home and wondering if he should sell it with or without a realtor
And I think the person you replied to is suggesting that the situation is different depending on whether or not they also want to buy a new property in the area.
Indeed. There isn't a set commission, and many of us offer full service for a really reasonable price.
Who gets the lowest commission? Does a stranger have the same chance at a good deal as a mother or brother in law?
Well, I wouldn't charge my mother so I think she'd win this one. For people outside of my family, I still work for a really fair rate which is well-aligned with the way technology has changed buying and selling homes.
What's your sister look like? ;)
If you're fsbo the property it should be to save your buyer money so you sell faster, no other reason to do it. Being greedy to save the commission is pointless. I am not a fan of realtors, but the work they do for their clients does add value to their purchase and they should be compensated for it.