real estate question - Page 3

Major Shopper · ‎06-21-2010

@goldensrbest Depends on the market in your area.

Real estate agents around here start at a lower price, do an extended "coming soon," (which whips potential buyers into a frenzy!) and the properties sell well above asking!

Carmie · ‎10-25-2010

If a property is listed too high,you won't get many buyers even willing to look at it.

A Realtor should do a market value on your property. You should be provided with at least three " comps" in writing.

It is okay to have several agents audition for the job. Pick the one you bond with and that you feel will work for you.

Comps are properties that are comparable to your home and what they were listed for and the selling price.

To help a home sell faster in a slower market, offer to pay a portion of the buyers closing fees...up to a certain amount.

If the market is truly hot, it is possible to get several offers and they could be more than the asking price.

The asking price should be close to the comps in your area...could be a few thousand dollars more, but don't overdue it.

A good Realtor will know how to price the home to sell fast at the highest dollar. Don't just choose a Realtor nilly willy.

Choose someone familiar with your neighborhood who has listed and sold properties in the area recently to list your home.

granddi · ‎03-16-2010

A couple point to go along with some good advice by others.

It is good to fall just below the usual search price categories. For example if you list for $510,000.00. If someone is seaching up to $499,000 they would miss your listing.

Try to negotiate your realtor fees too.

Somertime · ‎09-18-2010

Do your own homework first. Go to Realtor dot com, look up "sold" in your area, it will give you a better idea of what the market is in your area. It will tell you the sold price, how long it was on the market and what the price reductions were. Then you can speak to your Realtor and see what she has to say since you have the knowledge.

Keep in mind, mortgage rates are high; mortgage companies look at three to four comparable sold in your area in assessing your mortgage.

Used to be's do not count anymore.......if you are in a sellers market, congratulations, you are few and far between.

Effie54 · ‎09-08-2010

@goldensrbest wrote:
In a hot market, low inventory when listing a house, should one ask a few thousand more than agent has said?

Thats a great question. When we sold our house (a few houses ago), the agent gave me a reasonable price that she thought would sell my home. I thought it was too low, so I asked another agent who came in with a much higher price. We used her. We sold it within three days, and had multiple offers. It was at the end of a pretty cut-de-sac.

haddon9 · ‎03-09-2010

@Desertdi wrote:
You wanna hear something hysterical.....some person left a note on my front gate.....offering me $100,000......for my house in Phoenix..... (That wouldn't get you a garage with a dirt floor around here.)

@Desertdi Maybe they meant to add another zero!

pieman12 · ‎06-29-2023

@goldensrbest

Going through this right now.

We always have sold our own homes FSBO and always did well.

Even sold one, in a day to our surprise..

Well ,we now live in Florida, where people have been scurrying to as of late.

The day we listed our home, the interest rates took a spike.

Here in Florida, if you don't list with an agent, they refuse to even entertain the thought of bringing a prospective buyer to your home, they all worry about that commission...

Well, news flash, that 6% is a thing of the past, it doesn't have to be offered anymore at that rate.

We had dozens of Brokers who made offers, but we weren't looking to work with them, as in the past, we almost got scammed by a few, thinking they were sincere in what they said. Thank heavens we always use an attorney..

Well ,we got tired of dealing with them and we turned it over to this agent who came to our home, sat and spoke with us, honestly, we thought,.so we decided to give it a go..That lasted just 36 hours.

Come to find out,she herself was part of a broker office,

Plus she hiked the price of the house up, to which even we went what???

She placed her sign in the front yard and that night/early morning @ 4AM, our doorbell rang by a very tall hooded individual, talking into his phone, peeking through the glass front door! We saw all this on our security cam, which I'm so glad we had. He wore a jacket with a very familiar logo jacket,,

I phoned them to inquire about deliver times, they said NO! on the 4AM, plus they never heard of either one of us in their system. Clearly we were a target for no good..

Another thing, I can't stand, how they play games with the photography of the rooms, they are so stretched out looking like ballrooms....

If I sound bitter with these Realtors, I guess you can say I am, with good reason.

Don't get caught in the games they play. Price your home honestly. Get it appraised its worth the few hundred it costs.

If you want it to move, price it fairly.

Be honest and forget recouping all the monies you put into it, people don't care and you never get it back. Sad but true....

Well, we are back to reality now, we'll get sold....

Oh by the way, that agent was fired in that 37th hour,,,,

Good luck sellers!

katie1859 · ‎06-25-2022

Here's the deal with listing price. Low inventory will bring stronger offers bc your property if attractive will bring in higher bids. When there's not much out there. However, if you ask higher than what your house is worth that can be a deal breaker on contracts. It may not work in your favor.

Trailrun23 · ‎05-31-2022

Right now in our area sellers are getting more than the asking price, but if you ask way too much, buyers won't offer less, they will just keep looking. The housing market is still crazy here. Unless you have cash or an approval letter that's less than 30 says old, you won't be making an offer. We lost a house I really wanted because we refused to get into a bidding war...the other party offered over $70 more than the listing price. In my experience, a reputable real estate agent more than earns their commission.

LuvSoCal · ‎07-18-2010

@gidgetgh wrote:
When I sold our house in the height of the housing frenzy here in Atlanta, in February, 2022, my agent priced it at a "no way am I going to get that for our house. I would faint" price. I thought there was just no way.

Our house sold in 3 days for $72,000 over the asking price. I can't believe it still.

@gidgetgh Not unusual at all here in San Diego. The housing market is hotter than ever, although, homeowners really aren't selling.