Uncalled for.

:posting:

So we're down in Lakewood Ranch, hedging on whether we sell in '25 or wait it out and delay gratification until the Fed gets its head on straight and brings interest rates back toward prior levels. No agent here is talking about anything below 6%, and aren't inclined to do much if you want to go lower.

The problem is inventory. Suppose you have two similar homes, but one is paying a 3% buyer commission, while the other is paying 2%. Agents being what they are will steer you away from the 2% home toward the 3% because they'll get more money. Despite what the new rules say, it's still the same game. On the bright side, we're still sitting on a sub-3% mortgage, so the incentive to sell is lessened with rates and pricing where it is.

The Fed's head is on straight. If one wants free money they should save and use their own money. Prior levels were in the 5-8% range until recession mess they needed to avoid.

The best deal yet in selling a home is For Sale By Owner, unless the it is a complicated property with unusual easements, questionable property line or that type of thing.

Commissions
 

You can negotiate and do not have to pay a commission if the buyer is unrepresented. Get a different agent to sell the house

Why pay 5%-6% Commission, when you can simply sell your house for 10% under market value and pretend you did the smart thing?

The statistics have proven over & over again, FSBO cost Seller real money.

And I'll bet those statistics were funded and provided by realty firms. How can one lose money when the home is appropriately priced or maybe a bit higher and it sells within a week to a month.

I agree that there are those who are incapable of handling a house sale but others, like us, that sell our own real estate walk away with all the money due us after closing with none being handed off to a realtor. You really have to do a crummy job of selling not to come out ahead.

Will be selling our primary home without a realtor when ready to move. .

Over the last 5 years, 93% of Sellers used a professional. So it would appear that opinion is in the minority.

I first did that in 1972 when I was leaving Rochester, NY for NM. One small four line weekend ad in the local rag, which cost a small fortune as it was owned by Gannett, did the trick. I was leaving Kodak and the buyer was just hired by Xerox. We closed in the courthouse. I later sold my parent's house to their neighbor who wanted it for his daughter. Over the years I bought directly from a couple of owners but usually listed houses for sale with the best local companies. It depended on market conditions.

In 1976 because it was a piece of cake to do so I obtained a NM RE broker's license which I finally gave up when the pandemic hit in 2020 as the continuing education program was becoming more time consuming and I very, very rarely used the license. Always paid for E&O insurance, though. Many if not most commercial RE investors hold broker's licenses as it can help lower the cost of buying via commission sharing and similarly for selling by co-llsting with an active broker.

You have a good head on your shoulders and will do just fine when you're ready.

It very well could be that only the minority is pocketing the cash from a For Sale By Owner effort and the rest are keeping the realtors flush with cash. We don't mind being in the minority in this situation.:BigApplause:

Thanks for this discussion. It is informative.

Same things happening with cars

good luck with that!

it interest rates go back down to where they were during the pandemic, the country is again in a very dire economic situation. . . not saying it won't happen, but the housing results won't be the same, history events like that seldom repeat without a generation or two passing. .

interest rates today are at a historically normal rate, . . don't be held hostage waiting for interest rates to fall for a housing price explosion. .

good luck to us!

Reminds me of Life Insurance Salesmen
 

It reminds me of the life insurance salesmen that sold Encyclopedia Britannica simultaneously back in the 60s. Agents are on their way out. Skimming on every sale is frowned upon by most as middlemen fade into the sunset because of the internet.