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2
Posted on 12/27/15 at 1:15 pm to lynxcat
quote:
More expensive houses becomes a racquet
Jersey Tiger used to have a great idea where he said that an agent of 0 ability could sell his house for x. they are only earning the cost of their service if they get so much of a % over that line. that may be too complex for most people but it's a solid idea to sell
Posted on 12/27/15 at 1:15 pm to stout
Well hopefully the buyers will be smart and find my house just like I found it: signing up for alerts on homes in my desired area so I'm notified when something hits the market... I found our current home the morning it went in market and we had agreements signed by 9 pm the same day. My realtor did nothing and walked away from closings with a lot of money. Left a bad taste in my mouth.
I am pretty savvy when it comes to technology therefore I did most of the work when it came to listing and selling, yet we gave him 6%.
I am pretty savvy when it comes to technology therefore I did most of the work when it came to listing and selling, yet we gave him 6%.
Posted on 12/27/15 at 1:16 pm to Gr8t8s
quote:
It can be successful with the right marketing and money up front. I wasn't willing to do what it took. Started another business that took off and makes more than I ever made in real estate.
well i'm located in a unique opportunity for such a business to do well for a few years
Posted on 12/27/15 at 1:16 pm to tigerbandpiccolo
quote:
Told a realtor friend I wanted to use the flat fee service to get my house on the MLS and she went off about how terrible these are. I said the market created a demand and they filled the space...dont know how it's a bad thing. I pressed for a greater explanation than just "ugh they're awful, too much to explain" because I genuinely want to know how it's awful. It will save me a ton of money.
No it won't, but go ahead and use them. It's a limited service agreement. They will list your home, and that's it. You're going to market it, right? Typically the agent bears that expense in hopes of selling your house, but if you have a limited service agreement, good luck. Gonna hire a photographer to photo and video the house? How about the contract? If you frick that up, have fun. You are in charge of all showings and dealing with all contracts and deadlines associated with the sale of your home. Oh, and go ahead and open your house to complete strangers, let them walk through and poke through your stuff. It's unlikely you'll be robbed, and if you do, I'm sure you have a record with that persons ID, phone and place of business -- as well as social security, DOB, etc.
You're not saving money. You're wasting money. You are paying someone for their password.
Go ahead and burn up that $500, but make sure to offer the buyer's agent at least 2.5% or your house will only get shown to sell another house.
This post was edited on 12/27/15 at 1:19 pm
Posted on 12/27/15 at 1:17 pm to stout
That's fair. I can still think of scenarios where someone doesn't need 17k+ to justify a million dollar home. A couple with no kids could make 175k and technically afford a $5k note without issue. I don't know why someone wants to be house rich, but that's their own personal decision.
Posted on 12/27/15 at 1:17 pm to yellowfin
quote:
Hell most will barely pay anything toward principal and hope for appreciation
Yep and every time there's a recession they're fricked due to zero equity.
Posted on 12/27/15 at 1:17 pm to Gr8t8s
quote:
Started another business that took off and makes more than I ever made in real estate.
And what business is this?
Posted on 12/27/15 at 1:18 pm to yellowfin
What happens when they're underwater and die?
Posted on 12/27/15 at 1:19 pm to GreatLakesTiger24
2008
Posted on 12/27/15 at 1:21 pm to SlowFlowPro
You people worry too much about what other people make vs focusing on making money in your own business. Just do your own damn homework, determine what you want to pay or net and counter or make offers. Leave it up to the brokers to work out their fees and don't worry about them. You have your number. You are focusing on the wrong sh*t.
This post was edited on 12/27/15 at 1:22 pm
Posted on 12/27/15 at 1:21 pm to lynxcat
In 2006, sure. In 2016. Nope. Regulations are tighter. Max debt to income ratio on a jumbo loan is 43% I believe. So, you're still gonna need a minimum of $12k/month with no other debt to qualify. If you have a million ill at house, you're gonna want a couple of nice cars......so let's say $1500-2000/mo in cars. That puts you at $14k.
Posted on 12/27/15 at 1:21 pm to tigerbandpiccolo
quote:
I am pretty savvy when it comes to technology therefore I did most of the work when it came to listing and selling, yet we gave him 6%.
You didn't give him shite and it sure wasn't six percent. Even if it was specified in the contract that his commission came out of your pocket, it wasn't six percent. At most, it was three, and typically, the selling side pays the full commission.
But go ahead and feel like you've been taken advantage of.
So you set up the closing with the attorney, ordered the title, home inspections, made sure everything was in order, did all that little work? Or did your agent do that for you. That agent you didn't pay shite.
Posted on 12/27/15 at 1:21 pm to lynxcat
quote:
I don't know why someone wants to be house rich,
It's more than that. They are house, boat, car, truck, ATV, electronics, etc rich. Crazy how many people live a paycheck or two away from it all crumbling.
Posted on 12/27/15 at 1:23 pm to MoreOrLes
Architectural photography.
Posted on 12/27/15 at 1:23 pm to dsides
quote:
You people worry too much about what other people make vs focusing on making money in your own business.
where did i discuss any issues with what other people earn?
Posted on 12/27/15 at 1:25 pm to SlowFlowPro
quote:
where did i discuss any issues with what other people earn?
You are talking about what realtors earn. Did you read the post?
Posted on 12/27/15 at 1:25 pm to SlowFlowPro
On an individual basis. Are the lenders SOL?
Posted on 12/27/15 at 1:25 pm to dsides
quote:
You are talking about what realtors earn.
This whole thread is because OP is talking about a career change.
quote:
Did you read the post?
Did you?
Posted on 12/27/15 at 1:26 pm to Gr8t8s
That kind of legislation is silly if it doesn't take into account the size of a household. A couple with no kids making 175k is likely to be better than than a family of 5 making 250k.
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