Quote:
Originally Posted by justjim
Been here a while and follow the real estate market as a “hobby”. My quick answer: If it’s priced at or just below market, it will sell quickly. If you try and get 50K more than market - not so much. It appears to me either will get the job done.
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Real estate is interesting. We are very much amateurs. You are ready to, need to sell.
You contact a broker. The presentation goes something like I can get you $$$$$$$$$$.
Their goal is to get the listing. What happens is if they have the listing and say a broker on multiple listing sells it they still get part of the commission. What is the house worth? It is worth whatever it sells for. In terms of pricing and selling. Statistics are not really valid. You only sell to one buyer. There is no shortage of lookers. Do they just want to see how you decorated. Landscaped etc or are they really buyers?
The house we sold in our previous state. We bought first in the villages and then put our home up for sale. I sure some will say that is nuts but it left me in control on both ends.
We listed the home for sale with a broker. The negotiated commission was 4%, truth they were very helpful. We were told no one wants wall to wall carpeting. Ours was good quality, I read a humorous article about emerald green carpet-exactly what we had. Our 78 year old house had real hardwood floors and they were in new condition, the previous owner also had them covered with carpeting.
I figured it would take 6 months to sell. We sold it in a week, got full price and a cash deal.
My opinion, having done sales. Sales people like new stuff, new toys to play with.
If, your property sits unsold. It is public information on zillow or realtor dot come.
Anyone looking is going to offer less and/or wonder what is wrong with it that it is sitting unsold.
Commission. For sale by owner. Both the seller and the buyer think hey no broker
one thinks I can pocket more. The other thinks I can pay less. By the same token
on a 350,000 home where you pay 4% commission that is 14,000, you net 336,000.
At 7% commission to net 336,000 you need to sell that 350,000 home for 362,000.
362,000 less 7%=336,660 net. A direct deal with a seller, first of all an attorney is far more important and they will likely charge you more to do the closing.
Like most things we have the choice of making a right or a wrong decision. For most people we tend to say I shoulda, coulda mighta. I have no trouble with based on my situation, collecting information based on what I know, knew, I did the right thing.
People do not think professionally. Ken Jones got xxxxx, my kitchen is nicer so I will not take a penny less than 10% more than Ken got. They do not think about the cost of sitting on that unsold home. On the Zillow kind of lists, our sold home has gone up in value. So has our place in the Villages.