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LSU4lyfe
LSU Fan
Baton Rouge
Member since Oct 2003
7026 posts

re: OT: Selling Home By Owner
quote:

Are you offering 2% to a buyer that comes along with an agent?


2.5%


TDsngumbo
USA Fan
TDsngumbo (R)
Member since Oct 2011
10524 posts
 Online 

re: OT: Selling Home By Owner
quote:

This isn't good.

Your realtor either didn't know the value of your home or they may have scammed you with a buyer that worked with them.

At this point, I don't care anymore. I'm just glad that whole ordeal is over. It was a nightmare with the buyers' financing and title company. I'm not exactly sure what happened because I don't understand that whole process but the way my title company explained it to me, what happened is that I essentially bought my new home illegally for about an hour and a half. The purchase of my new home was contingent upon the sale of my previous home. We closed on my previous home first then headed over to the closing on my new home. The funds were supposed to be wired to my tile company. We had a confirmation number and everything. Then suddenly I was told I couldn't leave my closing once we were done because the funds hadn't gone through yet. They couldn't let me leave until the other title company wired the funds. I called the agent, who then called the buyers' agent, who then called the buyers' title company. We were told that they in fact hadn't wired the funds yet. So what it technically boiled down to was we GAVE our house away AND bought another house with no money. My title agent was sweating because she was afraid of lawsuits, I was afraid of having to file a lawsuit to get the money so that I could legally purchase my new home. I had to call the other title company and raise all kinds of hell, saying things and calling them things that I'm not proud of, and threaten to file a lawsuit for them to finally wire the funds.

Turned out the agent I used was besties with the buyer's agent, who together with my agent were both besties with the buyers' title company. I found out that my closing was their title company's rep's first closing of his career. I'm sure I made his first closing a living nightmare but goddamnit I was stressed as I don't know what.

I realize that we just had a bad closing experience and it wasn't NECESSARILY our agent's fault. But still, bad experience is a bad experience.


Tigerbythetale
LSU Fan
Las Vegas
Member since Aug 2014
570 posts

re: OT: Selling Home By Owner


Realtors earn their money.

Would you work on your own car or plumbing?

It is proven that realtors pay for themselves with better sales prices and walking you through the pitential pitfalls involved
!

I`m just sayin`


MikeBRLA
LSU Fan
Baton Rouge
Member since Jun 2005
10900 posts
 Online 

re: OT: Selling Home By Owner
quote:

Then suddenly I was told I couldn't leave my closing once we were done


So they kidnapped you?


XanderCrews
LSU Fan
Member since Mar 2009
592 posts

re: OT: Selling Home By Owner
quote:

Would you work on your own car or plumbing?


That is a straw man argument. Most men can work on the shite they buy.


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20
TitleistProV1X
Member since Nov 2015
2014 posts

re: OT: Selling Home By Owner
quote:

2.5%

That’s a solid offer. Agents will be willing to show it cause 2.5% is good money and at the end of the day that is what they’re after. Biggest problem you will have is them actually finding your listing if it’s not on the MLS.


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TDsngumbo
USA Fan
TDsngumbo (R)
Member since Oct 2011
10524 posts
 Online 

re: OT: Selling Home By Owner
quote:

So they kidnapped you?

I legally wasn't allowed to leave the closing until the funds had been transferred and received. I was fuming.


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02
Arkapigdiesel
Arkansas Fan
Springdale, AR
Member since Jun 2009
2251 posts

re: OT: Selling Home By Owner
We've sold two of our homes as a FSBO. Only reason I went with a realtor on one of our homes was because I was out of state and couldn't show the home.

Take great pics, put good details in your description, and list on Zillow. I had a realtor call me when my listing went live on Zillow within 30 minutes. Realtors have artificially inflated markets everywhere. I have a low opinion of them.

Stay the course, and sell it yourself. Get a FSBO contract from a local title company and download a seller's disclosure statement off the inter webs and you're golden. Realtors will try to use scare tactics to both the buyer and seller about how they'll protect them in the tranaction, blah blah. frick those liars. The contract you get from the title company is every bit as legit as what the scum bag realtors will give you.


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41
LSU4lyfe
LSU Fan
Baton Rouge
Member since Oct 2003
7026 posts

re: OT: Selling Home By Owner
quote:

Realtors earn their money.

Would you work on your own car or plumbing?

It is proven that realtors pay for themselves with better sales prices and walking you through the pitential pitfalls involved


Yes, I do both of those.


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S1C EM
Georgia Fan
Athens, GA
Member since Nov 2007
6229 posts

re: OT: Selling Home By Owner
quote:

Most realtors aren’t interesting in a listing for a rattlesnake farm in East Georgia. You kinda have to network-sell that one.


That was only in the plan if I sold to you.


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Tigeralum2008
LSU Fan
Yankees Fan
Member since Apr 2012
7402 posts
 Online 

re: OT: Selling Home By Owner
I thought about FSBO but ultimately decided to list with an agent. It paid off for me as the home sold in a week. Most of the showings were agents under the same Keller Williams Brand.


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deeprig9
Georgia Fan
Near Athens
Member since Sep 2012
25221 posts

re: OT: Selling Home By Owner
I can only offer my opinion as a buyer, I steered clear of fsbo’s.


jbgleason
LSU Fan
BTR, suck it all you haters
Member since Mar 2012
8706 posts

re: OT: Selling Home By Owner
Is there room to negotiate the realtors percentage as the value of the home rises? If 6% is standard, is that right?, then you are talking about $60k on a million dollar home. frick that.


purpleHAZE21
Notre Dame Fan
Baton Rouge
Member since Apr 2009
185 posts

re: OT: Selling Home By Owner
Why don't you give us the details on the house and see if you can sell to an OG OT Baller as a rental property?


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EA6B
Navy Fan
TX
Member since Dec 2012
6328 posts

re: OT: Selling Home By Owner
quote:

Realtors earn their money.

Would you work on your own car or plumbing?


Plumbing and working on cares actually require knowledge and skills.


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10
TitleistProV1X
Member since Nov 2015
2014 posts

re: OT: Selling Home By Owner
quote:

Is there room to negotiate the realtors percentage as the value of the home rises? If 6% is standard, is that right?,

5-6% is standard but plenty do 3% on the first $100k and 2% on everything over if you don’t try to negotiate them down you’re making a big mistake. When I list a house I only charge 1% but have charged as little as 0.6% on some high dollar homes. IMO 3% is absurd for a listing agent


mdomingue
LSU Fan
Lafayette, LA
Member since Nov 2010
4913 posts

re: OT: Selling Home By Owner
quote:

Would you work on your own car or plumbing?


Yes.

Because both proffessions are filled with disreputable providers and I have the knowledge and tools to do both. Though I now have people who do both that I trust and are reasonably priced.

Are you saying the realty business is rife with disreputable operators?

This post was edited on 2/9 at 5:44 pm


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BeerMoney
LSU Fan
Baton Rouge
Member since Jul 2012
4421 posts

re: OT: Selling Home By Owner
I work on both my plumbing and cars. I saved $4000 in 2017 repairing a plumbing problem. Just took two days of work and some Google. I am not a plumber, I just don’t give my money away without trying first.


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20
LSU4lyfe
LSU Fan
Baton Rouge
Member since Oct 2003
7026 posts

re: OT: Selling Home By Owner
quote:

5-6% is standard but plenty do 3% on the first $100k and 2% on everything over if you don’t try to negotiate them down you’re making a big mistake. When I list a house I only charge 1% but have charged as little as 0.6% on some high dollar homes. IMO 3% is absurd for a listing agent


I agree and this is what typically drives people to use FSBO


Tbobby
USA Fan
Member since Dec 2006
3986 posts

re: OT: Selling Home By Owner
quote:

I can only offer my opinion as a buyer, I steered clear of fsbo’s.


Only agents have access to MLS listings, which are homes not under contract. Most homes with a for-sale sign outside are not available to buy.

Over half the homes listed on FSBO are actually under contract with an agent and unavailable. You would be stupid as a buyer not to have an agent because the seller pays all commission, so their services are free to the buyer. Also, driving through neighborhoods looking for for-sale signs is a waste of time because most of them are under contract and unavailable.

Bottom line-both buyer and seller should have agents who will split a 6% commission paid completely by the seller.


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