Someone Explain Realtors To Me | TigerDroppings.com

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LETSGEAUX2
Member since Oct 2012
355 posts

Someone Explain Realtors To Me



I own a home now but bought it from my cousin. We had paperwork drawn up by a realtor friend and that was that. If I'm looking to sell, where do I start? Do I hire a broker to sell my house and at the same time look for houses for me? How much will this cost me?






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Mootsman
Mississippi St. Fan
Charlotte, NC
Member since Oct 2012
2184 posts

re: Someone Explain Realtors To Me


You will need to hire an agent to market the house and they will take a commission based on the sale price of the house which is usually 2.5% to 3%. They will try and sell it quick as possible as opposed to get the most bang for your buck so you must be stern with the sale price.

Also, I'm not 100% on this, but you may need to hire an appraiser to decide the value of the house.

Not helpful advice but I thought I'd throw in my 2 cent.



This post was edited on 3/26 at 3:50 pm


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Im4datigers
LSU Fan
Northern Virginia
Member since Oct 2003
3074 posts

re: Someone Explain Realtors To Me


quote:

Also, I'm not 100% on this, but you may need to hire an appraiser to decide the value of the house.


Negative.....a GOOD realtor will pull up comps in your neighborhood and tell you where you should be as far as sales price goes.

And yes, you look for a new house while yours is on the market. If you find a house, you'll proabably need to put an offer in on it contingent on financing and the sale of your existing home. Again, something a GOOD agent will give you solid advice for.

If you feel like you're still wading through a big of pile of shite after you've hired a realtor for all this, then you've hired the wrong realtor.






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ItNeverRains
LSU Fan
Franklin, TN
Member since Oct 2007
6358 posts
 Online 

re: Someone Explain Realtors To Me


quote:

They will try and sell it quick as possible as opposed to get the most bang for your buck so you must be stern with the sale price


As a realtor, in my market there hasn't been a better time for a home buyer to puff their chest out and price their home above fair market value based on local comps within the last 120 days since 2007.

Unless, you have a cash buyer, you can only sell your home for the amount a bank is willing to loan a buyer, as most buyers get a mortgage, especially at sub 4% mney.

Interview a few agents, ask them to show you the comps from the last 120 days in your neighborhood/local area. The one that impresses you the most and you feel most comfortable with is te ne i would move forward with.








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DieSmilen
Southeastern LA Fan
My Rubbermaid Desk
Member since Dec 2007
1277 posts

re: Someone Explain Realtors To Me


Well "Realtor" is a term associated with Licensed Real Estate agents that are associated with the National Association of Realtors. Not all licensees are members of the Realtors organization. However, Realtors have access to the multiple listing service, which will allow your property to be seen by the masses.

As seller you have multiple options at your disposal.

You can list your home for sale on For Sale by Owner website and represent yourself. You could even offer to pay a 2-3% commission in hopes of attracting buyers who are already using a licensed real estate agent.

You can list your home with a limited service broker for several hundred dollars. He or she will place your home in the MLS and your home will be seen by people searching Realtor.com and other brokers websites. Again you could opt for paying a selling agent 2-3% commission in hopes of attracting buyers who are already using licensed real estate agent.

You can list your home with a full service broker who will list your home and represent you and walk you down the path to selling your home. More often than not these are 4%-6% percent listing with half going to the listing and half going to the selling.






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TIGRLEE
LSU Fan
North Louisiana
Member since Nov 2009
21368 posts

re: Someone Explain Realtors To Me


I listed mine on frsalebyowner.com couple weeks ago, already have 3 people interested..

Also have had 2 realtors call about it.
I just rather keep the 3% and try selling myself.
If it doesn't work out ill go the realtor route.






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