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re: I'm selling a condo FSBO and the buyer's realtor has contacted me
Posted on 6/10/16 at 9:00 pm to Sho Nuff
Posted on 6/10/16 at 9:00 pm to Sho Nuff
quote:
Then what the frick is the point of the realtor if the buyer is doing the work? To hold their hand? Great, then let the buyer pay the commission.
He's selling the property FSBO and it sounds like it's just been listed so he doesn't need to pay an agent who inserted themselves into this transaction. There are plenty buyers, like me, who know wtf they are doing in a real estate transaction and I would rather buy a property direct from someone and negotiate the price down since I don't need an agent.
OP, when I sell a property FSBO I say on the listing no fee to be paid to agent, just some advice. If your property hasn't sold in a while then you can add a fee to be paid to buyer agent and can attract more buyers.
Actually yeah most people want a realtor there as a professional for liability assistance. No I'm not a realtor, I'm an investor. I hate realtors, but the fact of the matter is in most real estate transactions they are a necessity. The OP went on a diatribe leaving out a ton of details like how long he has been listed for anyone to give him legit help.
Just because you sell FSBO does not mean you get out of the buyer's 3%. Just because you as the seller is a lawyer with buddies doesn't mean the buyer is. What don't you people understand about the cost of business? OP just walk, please. Seriously. Its a $110k property which is laughable to complain about $2500 in costs to sell. You are going to let this deal walk away and your next buyer is going to have a realtor under the same circumstance and its going to cost you closing fees additionally for another $3k.
Again, commission base income is not always fair. For every easy client there is a difficult one. For every sale that takes 1 day led by the clients there is a sale that take s a year that you hold a hand. I've been there, not in real estate but in a commission based business.
This post was edited on 6/10/16 at 9:05 pm
Posted on 6/10/16 at 9:14 pm to baldona
quote:
You are going to let this deal walk away and your next buyer is going to have a realtor under the same circumstance
Not to mention that the condo is in Louisiana and several markets here are dying a slow death the longer O&G is down. Laffy area has lead the nation in various months since September of last year in 90-day lates/pre-foreclosures when compared to the previous year. In October it was up over 400% vs 2014 which is insane.
Also, it is a known fact that your most willing and qualified buyers come within 30 or so days of your house hitting the market. There are tons of horror stories of people in markets like what LA is dealing with now that balked at their first offers to save a few thousand only to still have the house a year later and now having the property listed for less than the price the originally let a buyer walk over.
Posted on 6/11/16 at 12:00 pm to baldona
The numbers don't really matter as I have a ton of equity and will be fine either way. I'm motivated to sell and I'll get the deal done.
It was more the principle of how it went down, and despite your bubbly personality, you've yet to convince me that I'm wrong in being a bit put off in how's it's developed thus far.
It was more the principle of how it went down, and despite your bubbly personality, you've yet to convince me that I'm wrong in being a bit put off in how's it's developed thus far.
This post was edited on 6/11/16 at 12:08 pm
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