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Old 03-22-2011, 3:08pm   #21
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You don't need a real estate agent to refinance do you? Yet you're essentially buying the house from yourself...so why would you feel the need to involve one to sell it yourself? I hired a lawyer when I refinanced my house and he had all the same paperwork all ready to go when I showed up same as when I bought the house. My realtor did zip, nada, nothing for me when I bought my house...I found it as a FSBO, called myself, etc. etc., yet there sat my useless realtor at closing...taking my money for doing nothing. Never saw her again...good riddance to bad trash.

/bias
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Old 03-22-2011, 3:29pm   #22
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You don't need a real estate agent to refinance do you? Yet you're essentially buying the house from yourself...so why would you feel the need to involve one to sell it yourself? I hired a lawyer when I refinanced my house and he had all the same paperwork all ready to go when I showed up same as when I bought the house. My realtor did zip, nada, nothing for me when I bought my house...I found it as a FSBO, called myself, etc. etc., yet there sat my useless realtor at closing...taking my money for doing nothing. Never saw her again...good riddance to bad trash.

/bias
So why did you involve her???
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Old 03-22-2011, 3:35pm   #23
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So why did you involve her???
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Old 03-22-2011, 3:41pm   #24
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So why did you involve her???
Because at the time I was stupid and my mom was an ex-realtor and lavished upon me how important it was to have one involved.

I should have gotten instant-smart when I checked on the home inspector she recommended (the realtor, not my mom) and he was no longer licensed in my state.

Lesson learned, I'll never work with a realtor ever again.
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Old 03-22-2011, 3:48pm   #25
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Because at the time I was stupid and my mom was an ex-realtor and lavished upon me how important it was to have one involved.

I should have gotten instant-smart when I checked on the home inspector she recommended (the realtor, not my mom) and he was no longer licensed in my state.

Lesson learned, I'll never work with a realtor ever again.
I worked with a Realtor when I bought the house I have now. She hired a termite inspector who said the roof needed to be replaced.

She knew the sale wouldnt go through so she hired another termite inspector who said everything was fine.

scandalous bitch ..I had to call the state board and get everything straightened out..people were fined and I got cash for a new roof..never trust an Agent
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Old 03-22-2011, 5:41pm   #26
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I worked with a Realtor when I bought the house I have now. She hired a termite inspector who said the roof needed to be replaced.

She knew the sale wouldnt go through so she hired another termite inspector who said everything was fine.

scandalous bitch ..I had to call the state board and get everything straightened out..people were fined and I got cash for a new roof..never trust an Agent
Dammit son...you have got to hit a lucky streak eventually...I cannot keep funding your habit like this!
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Old 03-22-2011, 5:56pm   #27
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If you're selling, you'll want a lawyer, regardless of whether you use an agent. Accordingly, if you're trying to sell it without agent, have your attorney do all the work. Costs should be manageable but discuss beforehand.

IMHO, there is virtually no value-added by agents outside MLS listing and access to MLS for comps. I have had negative experiences 4 out of 4 times. I could give you a long answer but...

Also, 1 week is not enough time to get the house sold...give it more. In these perilous times, people think longer and harder before committing capital...give it 1 month.

Good luck,

Har$ry
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Old 03-22-2011, 7:01pm   #28
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We have had alot of interest in the house while doing the renovations. So much so that we have started a list with people to call back when we are ready to show it. The plan is to show it to them priorto listing it and offering it at a reduced price seeing that we won't have to pay a 5-6% commission. If none of them bite quickly (1 week max) then we will go ahead and list it.
As Harry posted...you may want to give any qualified prospects more than a week...but after 30 days, you'll know their serious interest...or not.

If you have the time and ambition...do a little marketing, like sent all those prospects a post card announcing a public open house...create some urgency.



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Now my agent is a good guy and I will need someone to handle the transaction for me anyway so my question is this. What would you guys offer up for his services in the event i get a buyer prior to listing it with him? I know my attorney could handle the contract negotiations on my behalf as well for a fee and I have a call in to them.

Nice of you to remain loyal to the agent who you have done business with in the past. If you secure the buyer...a couple percent is fair for your agent to get the buyer under contract & walk the thing through to closing.

Contrary to Harry's post...you do not need an attorney to handle the transaction...as almost all escrow/title companies have an attorney or 2 on staff...and the title company is who prepares the documents to close. But if you want to pay your real estate agent buddy...and an attorney...and the title company...Hey, it's your money.

Some have had bad experiences with Realtors, so they feel more comfortable with an attorney walking them through...

And, some have had bad experiences with attorneys...or mechanics...or housekeepers...or window washers...or...


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What do you think a fair "under the table" fee would be?
There may be fair...but there is no legal "under the table" fees/commissions paid to an agent. Never.

An agent is paid from his broker...if he is a broker, he will pay himself as an associate broker through his brokerage company.

An agent never gets paid directly for real estate services.
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Old 03-22-2011, 7:50pm   #29
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IMO, paying a % of the selling cost is bullshit. The exact same paper work is done for a $100,000 house and a $500,000 house.

If you already have the buyer, $500 seems like easy money to me if I'm a Realtor.
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Old 03-22-2011, 9:01pm   #30
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Nice of you to remain loyal to the agent who you have done business with in the past. If you secure the buyer...a couple percent is fair for your agent to get the buyer under contract & walk the thing through to closing.
2% will be $3500 to $4k.

F@ck that..
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Old 03-22-2011, 9:31pm   #31
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IMO, paying a % of the selling cost is bullshit. The exact same paper work is done for a $100,000 house and a $500,000 house.
It's not about the paper work.

Sometimes a 100K home has more paper work and is more trouble to close than a 1Million dollar home. And often, the 100K home requires more effort to get under contract than a much more expensive home.





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If you already have the buyer, $500 seems like easy money to me if I'm a Realtor.
Might be fair, in this particular case...but if done legal, the agent will have to share that 500 bones with his broker...

so no...

the easy money is the Million dollar...cash buyer...close in 2 weeks...and the Realtor is the listing & selling agent @ 5%.
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Old 03-22-2011, 11:44pm   #32
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Might be fair, in this particular case...but if done legal, the agent will have to share that 500 bones with his broker...
Even then, most Realtors I know aren't THAT busy that they couldn't work a few extra hours for even $250 after broker fees. Money is money. It beats making $0.00 not doing it.
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Old 03-23-2011, 1:51am   #33
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Dammit son...you have got to hit a lucky streak eventually...I cannot keep funding your habit like this!
You are one cool mofo thanks man
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Old 03-23-2011, 6:08am   #34
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I told some of the Agents that came by they could show my house, sell it, handle all the paperwork for 2% ...they werent very happy about it
When you go to work you today you should do all the work for 75% percent less than your normal pay
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Old 03-23-2011, 6:44am   #35
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When you go to work you today you should do all the work for 75% percent less than your normal pay
Engrish pwease!
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Old 03-23-2011, 6:45am   #36
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You are one cool mofo thanks man
Us smokers gotta stick together man! (Got me a Weber Smoky Mountain...love it!)
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Old 03-23-2011, 7:08am   #37
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When you go to work you today you should do all the work for 75% percent less than your normal pay
Take if from a sales guy... 75% of something is better than 0% of nothing.
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Old 03-23-2011, 8:07am   #38
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Even then, most Realtors I know aren't THAT busy that they couldn't work a few extra hours for even $250 after broker fees. Money is money. It beats making $0.00 not doing it.
Sorry, but I'm not gonna help you sell your 400K flip house for 250 dollars.
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