Originally Posted by APovi (Post 2318599)

Sorry for not being clear.
The example was a $400k Sale with a 6% commission. Is that $24K?
The point is that a Seller can pay an Appraiser/Realtor $1,000 and not pay a Listing Realtor $12,000.
Whatever the correct math is, I'd sooner pay out $1,000 than $12,000 for the same work.
(If fact, more work because you'd get confirmation (Appraisal) that your previous List Price is realistic/or not).

Originally Posted by rustyp (Post 2318364)

What about those items you wrote off - part of the room in your house as an office, mileage, all those many wine and dine the client events, depreciation on the car, etc. 50% ?

Originally Posted by rustyp (Post 2318605)

Thanks - that triggers a few more questions

1 Does the listing agent have to list to MLS
2 How does the listing agent publish MLS
3 Is there a time requirement for the MLS listing to be posted to other MLS agents

Given the listing agent / office gets to keep both sides of the commission if the listing agent sells the same property - would not this be an incentive for the listing agent to "drag their feet" publishing the MLS until feeling out the initial buyers that typically rush to a new listing ?

Many years ago I put a purchase offer on a property which just hit the market. The listing agent called me back and said seller rejected offer. I asked was there a counter. Reply - no. I asked for proof of rejection. The agent said doesn't work that way. The listing agent had a reputation of being on the shady side so I hired a broker. Found out the seller never got the offer. Seller accepted my original offer through the broker I hired and listing agent lost half the commission. To say the original agent wasn't happy would be an understatement. To this day the shady agent won't even make eye contact with me in a very small town.

Originally Posted by billsr (Post 2318988)

No! No! No! An appraiser is not required to be a Realtor. Some of them do have RE licenses and then become Realtors. However, they usually belong to the MLS as an "Affiliate Member". If an appraiser both collected a commission and was paid for an appraisal, it would be a definite conflict of interest. Plus, an appraiser cannot receive payment that is tied to the amount of the sale. That is against the law.

Originally Posted by margaretmattson (Post 2319000)

This has been an interesting thread. I believed listing agents would survive. But, now I am not so certain. The wave of the future may be low cost listing services. Has anyone used a listing service? I assume it is FSBO? We sold our previous home to a buyer we knew had interest. Never had to list the home.

Originally Posted by margaretmattson (Post 2319000)

This has been an interesting thread. I believed listing agents would survive. But, now I am not so certain. The wave of the future may be low cost listing services. Has anyone used a listing service? I assume it is FSBO? We sold our previous home to a buyer we knew had interest. Never had to list the home.

Originally Posted by MightyDog (Post 2319066)

The "listing service" I used in 2017 to sell my house in NC was a very well put-together listing by me on Zillow (which populates overnight onto Trulia, owned by Zillow).

Those two internet spots produced phone calls from agents and interested solo buyers. I got 3 offers in 3 days and took the one from the solo buyer. It closed just fine with zero $ paid to any agents. Never even put a sign in the yard.

I will be doing the exact same thing in the next 2 months and am hoping for similar results. Although, I will pay an agent who brings me a buyer 2.5 % for a closed deal.

Btw, it only works that well in a low supply / high demand market or location. When conditions are the reverse, you need all the help and exposure you can get. I'm familiar with that too - having had a fully-listed house on the market for 5 months in 2008. Simply brutal!

Originally Posted by margaretmattson (Post 2319067)

Make certain your pictures show your home in the most appealing way. We noticed a home that was sitting for months. We were interested in that area and requested a showing. The online pictures did not do justice for the beautiful home. One sad picture of the LARGE glass enclosed lanai and the description of the home did not mention a remodel.

We gave a well below ask offer. With very little negotiation, our offer was accepted. We feel blessed! The heirs were happy to finally rid themselves of the home. I believe better pictures and description would have brought in higher offers. The listing agent may have been inexperienced or did not want to pay a professional photographer. Maybe, he believed the location alone would sell the home. Definitely dropped the ball on this property.

Originally Posted by MightyDog (Post 2319066)

The "listing service" I used in 2017 to sell my house in NC was a very well put-together listing by me on Zillow (which populates overnight onto Trulia, owned by Zillow).

Those two internet spots produced phone calls from agents and interested solo buyers. I got 3 offers in 3 days and took the one from the solo buyer. It closed just fine with zero $ paid to any agents. Never even put a sign in the yard.

I will be doing the exact same thing in the next 2 months and am hoping for similar results. Although, I will pay an agent who brings me a buyer 2.5 % for a closed deal.

Btw, it only works that well in a low supply / high demand market or location. When conditions are the reverse, you need all the help and exposure you can get. I'm familiar with that too - having had a fully-listed house on the market for 5 months in 2008. Simply brutal!

Originally Posted by margaretmattson (Post 2319067)

Make certain your pictures show your home in the most appealing way. We noticed a home that was sitting for months. We were interested in that area and requested a showing. The online pictures did not do justice for the beautiful home. One sad picture of the LARGE glass enclosed lanai and the description of the home did not mention a remodel.

We gave a well below ask offer. With very little negotiation, our offer was accepted. We feel blessed! The heirs were happy to finally rid themselves of the home. I believe better pictures and description would have brought in higher offers. The listing agent may have been inexperienced or did not want to pay a professional photographer. Maybe, he believed the location alone would sell the home. Definitely dropped the ball on this property.

Originally Posted by Robnlaura (Post 2319308)

All realtors had to list on mls now that doesn’t mean people don’t have side buyers. Selling a home is not so easy to many. Valuations alone are not that easy as well Zillow is always wrong !

Originally Posted by Robnlaura (Post 2319308)

All realtors had to list on mls now that doesn’t mean people don’t have side buyers. Selling a home is not so easy to many. Valuations alone are not that easy as well Zillow is always wrong !

Originally Posted by margaretmattson (Post 2319328)

I disagree. I find it quite easy to find the value of my property. I go on to trulia and type in sq footage. Then I search the SOLD homes in the Villages the last few months. Find a few similar to mine. Write down the address and price the homes sold for and these are my comps.

I then go onto VLS. Type in my model name. Look at the homes most similar to mine. Write down the address and asking price. Voila! I now have more comps.

I go on the county tax site. Look at the accessed value of my home. Add 25-30% more. I now have what the county believes my house is worth.

Compare all my data and set an ask price accordingly. If a buyer insists I am overpriced, show the recently sold similar homes to him/her. Not much room for argument when they see this information.