Is a listing agent necessary to sell my home?

[Neil_Asheville 114]

Good morning, Gang! Reagan and I are selling our home and moving to a better layout for our two home-based biz's. We’d like to be through the buying, selling, and moving by end of May. Big party at the Spencer’s new dig planned soon after, so come on up! J

Yesterday I had a customer tell me about a flat-fee discount realty company he had just used to sell his home. Carolina Discount Realty, http://www.carolinadiscountrealty.net/index.php?option=com_content&task=view&id=21&Itemid=35 This $495 flat fee MLS listing concept makes sense to me. What makes more sense is saving the listing agent's 3% on what’s typically an internet home search by the buyer and/or active work on the buyer’s agent side. The fee includes a comp market analysis, 12 pictures, writeup of the property and the MLS listing.

Any thoughts on this type of service? My main concern would be keeping the deal together on the contract end. I've bought/sold two homes now and this is the value the listing agent brings. However, $10G+ in savings is my incentive.

Thanks!

/neil

[Barry M 73]

Neil

It depends on what your time is worth. Who is going to weed out the potential buyers who aren't prequalified for financing? These people can really waste your time. You might also want to think about the time involved in showing your own home. This is also very time consuming. From the outside it might look like a realtor isn't worth the money. But my wife is a realtor and I can honestly say she more than earns her money. As a matter of fact a lot of times it doesn't seem like her commission is enough after dozens of phone calls, showings, writing up offers, counter offers, dealing with mortgage companies, banks, inspections, buyers, sellers, having deal after deal fall apart because something doesn't work out. It's very stressful and time consuming. People don't care if it's Sunday afternoon and she's at her kids soccer game, if they want to see a house that's just how it is. I asked her to read your post and all she said was "you get what you pay for" and that service you posted about "is equivalent to a $99 house wash".....lol I guess she put it in terms I could understand.

[Neil_Asheville 114]

Good stuff, Barry. And thanks to Mrs.M. I certainly don't have the time. That should answer all my questions, right there. What I need to do is contact some previous clients that have used this type of service and get their feedback.

I know nothing about realtors and the work they do. I'm sure your wife earns hers. Thanks again, Barry.

/neil

[Jeff 232]

I agree, when I was selling my house I had a friend of a friend a realtor and he worked a little and listed the house, but wasnt selling and trying enough I thought. So we got rid of him per our agreement Then I called a realtor that showed us house a few years earlier. She worker for Chicora Caldwell Banker she had a lot more info for us showed the house several times and she was a hustler. She actually raised the asking price. I was lower than most in my neighborhood because I wanted a quick sale. she talked me into raising the price and had it sold in a couple weeks, she also was at my house one night at 10pm to get papers signed so they could be sent to the buyer in NY. She was worth every % she got.

Talk to a couple realtors ask friends you know that sold about their realtors. This lady was in her late 50's and she never stopped. Listing with a large national realtor I think is good also they can have people from all over the country to show your house.

Good luck with the sale

[Wayne S. 14]

one other thing to consider, the buyer thinks they should be saving some of that money also.

[YVPW 20]

Neil, I'm also putting my house on the market. I decided to go with a local realtor here. She has gotten me jobs before so I thought I would return the favor to her. This company will also list our house in the MLS for the larger cities, that way we can get more coverage. It really is a lot to pay, but I know it will speed the process of selling up, and what everyone else had to say about being here and screening prospective buyers. Are you building or buying? If you have a party I'm coming up. Me and my wife are gonna downsize and try to get rid of house payments. It will take a little while to get used to not living in a new house, but the end result will be well worth it. We wanna save up for what I really want, a log house. I just love the beauty of wood, there's nothing like it. I've already been dreaming about the different types of wood I want for the house. Right now the top choice for house is Cypress with Northern White Cedar second. Deck floor probably IPE, possibly another hardwood, supports Cypress.

[Neil_Asheville 114]

Obviously:stupid: on the real estate end. We make quick decisions on things we're good at, but tend to want as much feedback as possible on issues of which we're clueless! BBS's are a powerful collective.

Good luck, Jason, on selling your place. No doubt you will have that sweet log pad soon. Let me know when you're ready to finish it and I'll gladly come lend a hand. Sounds like a sweet one for the portfolio! Log homes need a lot of love (ahemm...high maintenance) but you know that going in. We downsized in a big way 2yrs ago. Built a way too big custom home in 2001 that extended me a bit much. Made great money on it in 2004 and chose a much smaller spec vinyl neighborhood gig, mainly for our 10year old. I'm confident we can net 100K in the upcoming sale of this one. Not bad for 2yrs in today's market. I need to refi anyway out of the 7-year ARM I'm currently in.

My ideal home is one level under 3,000sf, 3 seperate 'master suites', flat lot about 15 acres, mixed rock and hardiboard siding/foundation, vinyl soffits / facia, ipe deck. No staining for me at HOME! Let that ipe deck patina, I say. Low to no maintenance is where I'm at now. As long as we're dreaming here, I want a 2,000sf detached heated shop for the stuff. In the corner of the shop I'll have the 'lounge' with some old couches, beer fridge, fly-tying bench, and the pot belly wood stove. No intercom to the house, either;) Then there's the seperate refurbished barn that's been converted into our dance hall and party room. See a theme here!?! I should get started on the invitations, huh.

Gotta run...

/ neil

[PLD 14]

FWIW, when I sold my last house it was my realtor who made the deal happen. The buyer was just a jerk and kept nit-picking on the punch list. Had I had to deal with the man directly, I would have thrown them off my property about the 4th time the produced a list of $20 repairs. The agent kept things cool and got us to a deal (at full price). At the least, he saved my ~30 days of payments. At best, he earned me $5-7000 extra by keeping a buyer that was willing to pay full price.

As we speak, I am selling my rental. I have show it a hundred times, and 20 more is no biggie. And since I am in no hurry and it is not personal, I can negotiate smartly. But, I hired an agent to list the house becuse IMHO the net to my pocket will be larger. And, I am paying them the full 7% because I want two agents who are motivated to move my house above other homes that may be a better deal for the buyer.