[ron32162]

With interest rates at almost 7% and homes on the market more than 60 days ? Were you planning on selling for what other homes in your neighborhood sold for with a realtor? or do you plan on selling at a lower price because your not using a realtor and passing some savings on to the buyer to make it more attractive to a buyer ? Be prepared realtor's and sales people will be calling 3 or 4 times a day . People make appointments for a showing all the time and not show up. Make sure all of the ittl'do things are actually done people do notice things you think they want . Good luck

[BrianL99]

Originally Posted by Toymeister

I am shocked, SHOCKED, that the most frugal poster on TOTV would pay a Realtor commission. I'm at a loss for words...

The nationwide statistics are staggering. Using a Licensed Real Estate Professional will sell a home faster and for more money, in the vast majority of circumstances.

I'm the first to complain about their ridiculous Commission structure, but they're a necessary evil. I've bought & sold 50-60 residential properties and a slew of commercial properties in my job. Only 3 or 4 times was a sale consummated without a Real Estate Agent and without exception, they were aggravation.

26 FSBO vs. Realtor Facts and Statistics to Know

7 Essential FSBO vs. Realtor Statistics to Know in 2023 - Orchard

Quick Real Estate Statistics

FSBO vs Realtor: What They Don’t Tell You

For Sale By Owner Homes Sell for 14% Less - 2022 Report : Real Estate Agent PDX

https://www.nasdaq.com/articles/for-...me-yourself-in

[retiredguy123]

Originally Posted by BrianL99

The nationwide statistics are staggering. Using a Licensed Real Estate Professional will sell a home faster and for more money, in the vast majority of circumstances.

I'm the first to complain about their ridiculous Commission structure, but they're a necessary evil. I've bought & sold 50-60 residential properties and a slew of commercial properties in my job. Only 3 or 4 times was a sale consummated without a Real Estate Agent and without exception, they were aggravation.

26 FSBO vs. Realtor Facts and Statistics to Know

7 Essential FSBO vs. Realtor Statistics to Know in 2023 - Orchard

Quick Real Estate Statistics

FSBO vs Realtor: What They Don’t Tell You

For Sale By Owner Homes Sell for 14% Less - 2022 Report : Real Estate Agent PDX

https://www.nasdaq.com/articles/for-...me-yourself-in

Totally agree. I won't even look at a FSBO unless I happen to accidentially drive by an open house. Most of the time, FSBOs are overpriced. My pet peeve is when a FSBO seller tells a buyer that they can both save money by splitting the commission. The commission is a cost to the seller, not the buyer, so it is an insult to suggest that the buyer can save money by not paying a commission.

[melpetezrinski]

Originally Posted by retiredguy123

Totally agree. I won't even look at a FSBO unless I happen to accidentially drive by an open house. Most of the time, FSBOs are overpriced. My pet peeve is when a FSBO seller tells a buyer that they can both save money by splitting the commission. The commission is a cost to the seller, not the buyer, so it is an insult to suggest that the buyer can save money by not paying a commission.

Well then accidently swing by 2241 Bellamy Lane this Sunday.

2241 Bellamy Ln, The Villages, FL 32162 | Beycome™

[shaw8700@outlook.com]

Originally Posted by dougjb

I remember selling my father's house years ago. The commission was 6%. For that, the listing agent had to place newspaper ads (which they paid for), drove prospects around (which they paid for), arranged the paperwork (standard forms designed to protect the sale and the agent, not the seller) and so forth. The total commission was about $6,000. The listing agent and selling agent split the 6% and then the listing agent split her commission with her broker. That left the listing agent about $1,500 which was about right for all the work they put into it.

Now though, if I sell my house for $600,000, the commission would be $36,000. There is little advertising cost (no one puts ads in the newspaper, it is all online), the agents may or may not drive people around (instead they ask the prospect to meet them at the address), the paperwork is standardized, again to protect the agent and the sale and not the seller). So, what are they doing extra that commands they get $9,000 (after the splits with the selling agent and the broker) instead of $1,500. I really do not see what they do as creating that type of value. Moreover, many listing contracts now call for the seller to pay an additional $295 for some ridiculous kitchen sink expense (which is total nonsense).

Moreover, the listing agent has one interest only...get their commission. So, if they can't sell my house immediately for $600,000, they will say the price is too high. They suggest, perchance lowering it to $550,000. By doing so, I immediately lose $50,000 by negotiating against myself. What did it cost the listing agent. ...$750 (1/2 of 1/2 of 6%). That is what the price reduction cost them of their share of the $36,000. Wow! Talk about high way robbery! I lose 50,000. The agent loses 750. Yeah, as you can see, I like to deal with agents (cough cough).

So when would I use a real estate agent? If I needed to unload the property yesterday and had no interest at all in maximizing my return. Most agents I have dealt with in my life have been less than straightforward. Some have just been total losers or liars or charlatans. I am not charmed by an agent who is nice and knows the market (the internet gives me current asking prices of houses nearby in similar condition and size to my own--the tax records show me what nearby houses of similar size have sold for). Show me an agent who can give me a fair price evaluation (a competitive market analysis is derived in large part by what I just illustrated here) and sell it at that price (without suggesting a price reduction) and show me an agent who is willing to sign an exclusive contract for 30 days or less and I might wish to deal with them. But, most agents want you to tie you down for six months or a year and will try to get you to negotiate against yourself in selling a valuable asset. Meanwhile, during the course of the contract, they will continuously whittle down your price without bringing me a prospect who has cash on the barrelhead and an executed purchase and sales contract in hand.

FSBO can work. The Florida Bar and the Board of Realtors uses a standard sales contract. You can get one on line. Any closing agent can hold the escrow and conduc the closing. If an agent approaches me and says they have a prospect for my property, I offer them 2 (afterall they already have the prospect in hand and they don't have to drive the person around or waste lots of their time) or 3 %, nothing more. If they want me to first sign a contract with them, I ask them...politely...to leave my presence. Selling a house is not that difficult. Just be prepared for flaky prospects who will try to identify every flaw in the house as they walk through. That can be quite annoying. So, my response to them is to make an offer based upon what they see. By the way, I have never sold a house subject to any conditions. I sell it "As Is" and give them ample time to send an inspector. I do disclose any defects that I know about (that is the law). But, I do not allow financing contingencies or anything else. If they want the house, they want it. Period. I do not deal with flaky agents of flaky prospects!

The use of real estate agents (who often can find no other work elsewhere) is highly overrated!

I’m thinking of selling FSBO and paying an agent 1% to handle the paperwork.

[shaw8700@outlook.com]

Originally Posted by retiredguy123

Totally agree. I won't even look at a FSBO unless I happen to accidentially drive by an open house. Most of the time, FSBOs are overpriced. My pet peeve is when a FSBO seller tells a buyer that they can both save money by splitting the commission. The commission is a cost to the seller, not the buyer, so it is an insult to suggest that the buyer can save money by not paying a commission.

Unless you tell them by selling FSBO they pay 3% less and if they get an agent it’ll be 3% more. And that’s the way it’s done in ALL deals, they just don’t tell the buyers.

[BrianL99]

Originally Posted by shaw8700@outlook.com

I’m thinking of selling FSBO and paying an agent 1% to handle the paperwork.

You're going to use a non-professional (yourself) to sell your home.

Then you're going to use a non-professional (R.E. Agent) to do a Lawyers job?

I"m sure there are quality, YouTube videos on "how to pretend to be a lawyer" and "how to become a real estate Broker in 30 minutes".

I can't wait to hear the result.

[Packer Fan]

Originally Posted by retiredguy123

I am amazed at how many people do not understand the value of marketing and sales experience. They think that they will save the broker commission by listing their house as a FSBO. It just doesn't work that way. The broker should be able to sell the house for enough money to cover their commission.

That may have been true at one time, but there is this thing called the interweb and Zillow now. It is newfangled, but you can go on there and see a listing of all the homes without a realtor. Amazing technology.
In the villages, you can quickly do a search for your model and see every home for sale that is comparable. I actually think a case can be made either way, it depends on the situation. A $25,000 commision is a LOT of money.... (based on a $500,000 house).

[DALEPQ]

We bought our first house (Patio Villa) directly from friends that were selling it.
We had mutual agreement on the price, saw no need for a Realtor, nor their commission.
We accounted for what the commission would have been when we agreed on the price.
We used *****ula Title (that's The Villages title co.) They handled it just fine.
After living in our Villa for 3 years, we found house #2, sold our Villa to our daughter.
Again, no need for a Realtor, had a mutually agreed upon price (less Realtor commission).
Again used *****ula Title, handled just fine.
Both sales worked without needing a Realtor, as we knew our friends well. Selling to Daughter
was quite obvious not to need a realtor.
I have nothing against Realtors since they are of value for many sales, but not for these sales.
We did buy house #2 thru a VLS agent.
It really depends on who you might be looking to sell to, if a Realtor is appropriate.
P.S.
We used Mclin Burnsed to complete all the offering paper work, escrow, etc., they even have an info. package, that you can review in advance. They handle a lot of these daily.
All went very well using them, of course they do have a fee for their service. Not huge.

[retiredguy123]

Originally Posted by shaw8700@outlook.com

I’m thinking of selling FSBO and paying an agent 1% to handle the paperwork.

If you are selling it yourself, you don't need an agent, just a title company. The 1 percent would be a waste of money. Real estate agents don't get paid to do paperwork.

[Flipperette]

I am looking for a patio villa preferably close to Buena Vista and 466A in the event this is the criteria of your home. It could be north or south of 466A.

[Vermilion Villager]

Originally Posted by melpetezrinski

Tri-County and Freedom Title and I would not use a listing realtor but always welcome buyer's realtors at 2.5% commission. I would also suggest paying the small fee to get on the MLS.

I used Tri-County and they were horrible. You do all the work they collect all the money. The property was involved in a divorce settlement and I could not get them to do anything for me.

[jagdl]

We sold 2 homes in the Villages without a realtor. Used Mclin Burnsed. They handled everything. Realtors told me I could never sell without them. Both sold quickly. People are standing in line to buy.

[BrianL99]

Originally Posted by jagdl

We sold 2 homes in the Villages without a realtor. Used Mclin Burnsed. They handled everything. Realtors told me I could never sell without them. Both sold quickly. People are standing in line to buy.

In the month of June, 67% of the homes sold in The Villages, were sold below asking price.

The average time it takes to sell a home in The Villages, has tripled since June of 2022.

There aren't that many folks standing in the line.

[Rich Iwaszko]

Magnolia Title Company, used once and no issues at all, sold property on my own and closed thru them