Selling a house, real estate commission

[Sigarms]

Sometimes property will be listed at a very low price to generate interest and it does work but not my thing…

Way I see it, something is only worth what someone is willing to pay.

When I sell something, as long as I get what I paid for it, I'm nore than happy.

I think the gun market can be more interesting than the housing market...

 

[Snobdds]

Please share...

Are we talking about just the housing market, or any industry?

Well the discussion has been housing...so.

Inventory issues is a result of speculation. Speculation is fed by low rates and an anticipation of a never ending price appreciation.

Inventory will come back once there is no longer cheap money fed by low rates. People don't mind paying for RE, people do have a problem when they can't anticipate what a market will do. Relators promised a market that never drops. That reality is no longer there and people are scared to do anything because of uncertainty. Once certainty is restored, inventory will come back.

It's called a supply squeeze caused by speculation. It's text book.

 

[Snobdds]

Way I see it, something is only worth what someone is willing to pay.

When I sell something, as long as I get what I paid for it, I'm nore than happy.

I think the gun market can be more interesting than the housing market...

FOMO in reality is a thing.

Fear of Missing Out. It creates bag holders. There are a lot of bag holders with purchases in the last 1.5 years.

 

[Sigarms]

FOMO in reality is a thing.

Fear of Missing Out. It creates bag holders. There are a lot of bag holders with purchases in the last 1.5 years.

I believe you, particularly with guns and gun laws.

 

[YanmarFever]

I have sold 3 homes in my life time and every time the realtors have tried to smoke and mirror the sale.
Our last house the lady that wanted it walked around picking at things trying to lower the price, her husband finally told her to shut up very seriously.
Then she tried to offer 100k less than we asked for, so we told her to take a hike.
The next day she offered full price and bought it, trying to make us feel like she was doing us a favor.
Yup, she was a realtor !!

 

[Sigarms]

I have sold 3 homes in my life time and every time the realtors have tried to smoke and mirror the sale.
Our last house the lady that wanted it walked around picking at things trying to lower the price, her husband finally told her to shut up very seriously.
Then she tried to offer 100k less than we asked for, so we told her to take a hike.
The next day she offered full price and bought it, trying to make us feel like she was doing us a favor.
Yup, she was a realtor !!

I've only bought one home in my life.

The realtor was GREAT. He was also the sellers agent as well.

I have no doubt that this realator also worked hard guinding us on working with the farmers credit union because land was an option in the sale as well. We more more than happy for what we paid for the house and land.

My wife did buy a house in NC before I met her. She did get a nasty email from her old realestate agent (whom she bought the house from) that she was basically pissed she didn't use her. I did think that was uncalled for.

Like any profession, you have good and bad people in the industry.

 

[Snobdds]

I have purchased enough rental property that I have seen the ugly side of RE agents and their games.

The last straw was when a sellers agent said she was not accepting bids below asking. I just kept submitting by below asking bid.

She had it priced high to begin with. It sat for awhile a new listing agent was hired.

She is now out of the RE game. Hard lessons are eventually learned.

 

[ultrarunner]

Buyers remorse happens a lot…

In a sellers market too often people get carried away… you could say it was worth it to the buyer at the time.

Dad would say only offer so you would be happy the morning after…

Agents fishing for higher counter offers always say you are so close… don’t let it get away…

My response is varied…

Sometimes I will pay more if seller carries the note…

Other times when the pressure starts I might say of course not going to walk away for a couple of hundred but seller is expecting thousands..,

 

[ultrarunner]

Nothing to stop me from reaching out to the seller by knocking on the door.

All the agency stuff isn’t binding on me as a private buyer…

Face to face has never failed if only to introduce myself.

A few times sellers family has said price is too low… every time I graciously said so would now it if the family member would like to buy… always shuts them up quick and then the backpedaling starts.

I make good clean offers… generally not more than one contingency such as a survey or pest inspection…

That said I am thinking of downsizing the residential rental inventory as all of the new laws are not what I signed on for…

 

[ultrarunner]

The beauty of Real Estate is there is nothing preventing me doing a For Sale by Owner...

Plus... I enjoy the process...