I wonder if anyone here has any experiences/knowledge
of the pros/cons of non-commission realty companies
such as www.americaschoice.com?
Daughter and family have a chance to move from NY to
Denver Co. and have a house to sell plus one to buy
when they get there.
I've googled for information, but all I get are
hype-pages and obviously biased pages; can't find
anything that seems to cover enough information to be
able to compare them to the "regular" bank mortgages
and realtor relationships.
Thanks for any experiences/opinions.
If the house is in a hot area you MIGHT save a buck or two with out a
realtor. If they do the move who shows the home?
I move a lot and grumble a bit each time I use a realtor. I have found
someone who will do the property exchanges for a total of 5%, 2 for mine and
3 for the new one. Saves me a lot of headaches when moving. I know that all
of the paper work will be done correctly and the first time. She is a bear
when it comes to pre-qualifying even me. She demands and gets all of the
paper up front and stops the nonsense before it starts. My last house I had
an offer over the price which I wanted to accept. She said no, that when
checking with their lender they were not qualified for that amount. Took
care of it the same day of the offer. I would have really been pissed when
the next legitimate offer came and the house was off the market.
Have fun doing it yourself.
If I had all the time in the world, I'd do it myself. However, I do have
some experience with real estate.
I didn't do it myself when I sold my condo and bought my house a couple
years ago. It takes a lot of time, not only showing the house, but culling
the riffraff from legitimate offers. Seems all the nuts come out of hiding
when you do a FSBO (For Sale By Owner). They think they're getting a free
house, or one heck of a deal. They come up with wacky offers they can't
possibly honor, they give you lowball offers then argue violently when you
refuse, or they try to scam you out of something. Very few real estate
agents will show your property, because they aren't going to make any money,
and most won't trust you if you offer them a couple percent anyway. Your
property also won't appear on the local MLS boards, though you may get it on
the internet. SQLit is right on the money with his opinion.
I personally hate the idea of paying a real estate agent anything when all
they do is drive you around and maybe help in filling out forms. However,
should something go wrong, either with the transaction, the buyer, the
seller, or the physical properties, at least the agent, or his broker, will
be able to deal with it. I count it as insurance against all the BS that
get's thrown your way.
I guess everyone has different experiences and advice. Our neighbor
just sold his 3 bedroom rambler for $271K within two weeks of putting up
the FSBO signs in the neighborhood. He paid an attorney $500 to take
care of the paperwork. He said that he has sold two other home that way
in the past. We will probably use the same method and same attorney
when we sell our home in a couple of years. I can't see paying a
realtor 20k for essentially doing little more than what the attorney did
That is what people do here and usually the BUYER pays. After all the
attorney is there to protect the buyer, the seller has the big bag of
money. It is the buyer who has to be sure he really owns a house.
If you need to do more than hang a sign in the yard to sell your house
you may want a realtor.
Here is how it works for me:
1. I interview and negotiate with an escrow company and get a copy of their
2. I buy an appraisal.
3. I set a non-negotiable price which splits the non-existant real estate
fee with the buyer.
4. I place the filled out contract and the appraisal on the kitchen table.
5. I record a detailed message WITH PRICE on the answering machine.
6. I put a cheap FSBO sign in front with the phone number and a notation
"For recorded information" on it.
This is important for your curious neighbors who know prices and are mini
free agents for you.
7. I bring the sign in after dark ( and have a spare sign) to thwart the
local real estate agent who now hates me and will steal the sign.
Works for me, and quick too. Even less work than hiring an agent.
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