TMAN said:
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I've been in maybe 800 homes in 7 states and I've been asked for ID *twice* ... once because the seller was a famous county Coroner .. the other one was an Ex President.
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Really .. and in what country might that be in.?

1. I doubt very much that an Ex-president's security detail would let you take his ID. 2. Famous coroner? "Quincy," by any chance?

Fri May 23 2008, 05:49

Listing below other units in your building and area is favorable. Be sure to watch for open houses and do one hte exact same day & time as other units in your area. I did this when I sold a townhouse and it worked very well. I got 90% of the foot traffic fromother units into mine. The Flat Fee services can get you into the MLS for as little as $250 plus pictures. All the other sites pull data from the MLS. Therefore, you will be automatically included in Realtor.com, Homes,Com, Chicagotribune.com.

Thu May 22 2008, 19:40

Thanks for all the responses. So far, no one has addressed my last point. So to expand:
I would like to sell quickly. Comparable units (same floor plan, finishes, location, etc.. ) are listing for $450K and selling at around $430. So I can list at $450K with an agent, or list at $437K with no agent (the 3% commission I am saving, I use to reduce the sale price). It seems to me, that in this market, being the lowest priced unit on the market should help me. sell faster than with no agent. In terms of exposure, would it not also help me stand out in MLS, Realtor.com and the other sites, by being on the low side in terms of price?
In my previous 2 home purchases: The 1st I used a realtor, but did the negotiating myself. The 2nd I did not use a realtor. The selling realtor agreed to reduce commission from 6% to 4% (she got 1% more for very little extra work). Very smooth process, got a great price, everybody was happy in the end.
So for now I will use a flat fee realtor and see how it goes.

Thu May 22 2008, 14:54

I'd be more than happy to address the concerns of the poster giving my answer a thumbs down. Just reporting what I see out in the marketplace on a daily basis.

Thanks, Ken.

Thu May 22 2008, 10:43

You're asking a forum full of real estate agents if they recommend not using an agent.
What kind of answer do you expect to get exactly?

Get yourself a good lawyer, set a fair price for your property - do your research and your homework on the building you're in so y ou're prepared to answer questions about your price.

From the scenario you've layed out - i don't think it will be nearly as difficult as some of the pros might lead you to believe. Then again - they make money off your property - so what do you think they want you to believe?

Wed May 21 2008, 21:18

Lakeview has a wide range of properties within blocks of each other and in many cases on the same street. Have you been in many of the units that have recently closed to compare with your condo? Even the slightest adjustment to a floorplan can render a unit less desirable than its competition and an agent that markets homes in the area will be able to tell you the pluses and minuses of your condo compared to the competition that may appear the same at first glance.
Overprice initially and your chasing the market from then on. Make no adjustment to the price and in no time you'll have a tainted property with extended market time that will only help sell the competition. A discounter won't be there to hold your hand (they'll be there to get the flat fee up front though before listing your home).
You're prepared to go with a discounter and offer a co-op to a buyers agent (the buyer is smart, they've gone with an agent that you're paying for). Why not give yourself the same level of expertise and guidance by hiring a Realtor to represent your interests?

Best of luck, Ken.

Wed May 21 2008, 21:11

Hmm interesting...

>>>>>>"A Realtor qualifies buyer inquiries and screens individuals before taking them to show homes. Do you want strangers coming to your home? >>>

Really .. and in what country might that be in.?

I've been in maybe 800 homes in 7 states and I've been asked for ID *twice* ... once because the seller was a famous county Coroner .. the other one was an Ex President.


>>>>>>> He took her purse, cell phone, keys and eye glasses.>>>

Sounds like Miami at lunchtime ... we've had shootings at Columbine and Virginia Tech and we're worrying about an agents knock-off purse and sunglasses...?


>>>>>>>A Realtor handles all the necessary legal forms to prevent a seller from legal issues and spends hours making sure the transactions is going well and without problems>>>

There's 1,500 very qualified real estate attorneys from Amelia Island to Hutchinson Island, that will do a very safe and quality transition for $1,500 or less....


>>>>>>>Lenders today are very difficult to deal with. I run into challenges all the time..it takes much of my time resolving lender issues to get my sales to close.>>>>>>>

If you have some $$ and good credit, you can buy ....


; ^)

Wed May 21 2008, 21:01

A Realtor qualifies buyer inquiries and screens individuals before taking them to show homes.
Do you want strangers coming to your home?
In my area of service, Ormond Beach, Florida, a lady Realtor was robbed when a buyer ( man) asked her to show him a high end home. He provided details of his finances and drove a mercedes and provided proof of funds. When the Realtor showed him the master bedroom he walked in behind her and pulled her down and tied her up in the closet. He took her purse, cell phone, keys and eye glasses.

A Realtor handles all the necessary legal forms to prevent a seller from legal issues and spends hours making sure the transactions is going well and without problems.

Lenders today are very difficult to deal with. I run into challenges all the time..it takes much of my time resolving lender issues to get my sales to close.

There is much more to closing a sale than just showing a condo or house and then waiting for it to close.

Wed May 21 2008, 10:01

I wish you luck, Lakeviewguy74! I am a mortgage lender and have worked for the same bank now for over 19 years. I've been originating mortgages for over 30 years, so I kinda have a good handle on the industry. Coming from experience, I've had a few FSBO's go rather well when both parties (buyer and seller) cooperate and 'cover themselves.' Then I've had many more FSBO's that weren't so smooth due to the seller's lack of knowledge about how to market; disclosures; real estate law; contingencies; etc,etc,etc. Also, most buyers do not know how to protect themselves either and sometimes get themselves into trouble in the middle of the transaction.

For instance, let's say the home/condo doesn't appraise? Or, let's say the seller won't move out by the occupancy date? What is the seller took all the fixtures, mail boxes, etc---or didn't mow the lawn for three months? What is your buyer wasn't really pre-approved with a legit bank/mortgage company with a legit approval? What if the buyer no longer can buy your home/condo and they've given you a modest EMD and you've kept your home/condo off the market during 'hot periods' and wasted that time? How many 'no shows' are you willing to put up with and waste your time with for those who make appointments to see your home/condo and then don't show up? Happens a lot! Or holding an "Open House" and having little to no people show up----or just the nosey neighbors?

I am not saying that this doesn't go on with good, professional realtors and a good mortgage lender involved; but at least the professionals will know how to handle it. And these issues are either 'nipped in the bud' or just doesn't happen as often. I know when I get a FSBO (which I am very good at handling all the way around as a mortgage lender) I know I am going to have my work cut out for me from beginning to end.

Really, you do what you think you have to do. I just wanted to point some things out to consider while making your decision to either use or not use a professional real estate agent. I know I breath a sigh of reliefe when my borrower or seller has one!!!! Good luck to you!

Wed May 21 2008, 09:42

Lakeviewguy74

By all means, Give it a go alone. You have nothing to lose. If you sell it, fantastic. If not, using a Realtor can be your back up plan.

Wed May 21 2008, 07:11

I can't believe y'all are jamming my mailbox in response to someone with an enormous chip on his shoulder. I don't need to justify myself to TMan, or to anyone. I bet he nitpicks his butcher, dentist, doctor, and banker as well. That's what happens when a person who considers themselves superior to others has too much time & technology on his hands. Please, let it go ~ it's just not worth arguing with him!

Wed May 21 2008, 06:41

Hi Lakeviewguy74. It sounds like your situation may very well be one of those where you can indeed "list" your condo yourself. With any luck, you might even be the one to find the buyer yourself and then you can double-end it. There's no question that there are some people who may not benefit from a full service real estate agent and if you have the time and your schedule is flexible enough to do the job, why not give it a shot. I don't hear you say that you have any particular time pressure which means to me that you'd not really lose anything if the condo should not sell. Just don't get emotionally involved in the negotiation part. and don't lose sight of the big picture. Good luck to you.

Mon May 19 2008, 08:47

Hmm...

Sounds like 2 hours and 37 minutes on the cell phone, another 2 hours in catching calls .. two tanks of gas at $3.60 a gallon, another 5 hours to cover the paperwork that the office staff does before the closing...

..Or.. we can pretend we went through the motion of 180 items - and wishing and hoping somebody was really naive enough to believe it.

Another great article: http://www.realestateradiousa.com/blog/2008/02/09/the-nation…

http://www.cbsnews.com/stories/2007/05/11/60minutes/main2790…


: ^))

Mon May 19 2008, 08:21

Realtor Role Final steps.... 180 Total........................
150 Negotiate payment and oversee completion of all required repairs on seller's behalf, if needed
The Appraisal
151 Schedule Appraisal
154 Provide comparable sales used in market pricing to Appraiser
152 Follow-Up On Appraisal
151 Enter completion into HomeTrack™
153 Assist seller in questioning appraisal report if it seems too low
Closing Preparations and Duties
154 Contract Is Signed By All Parties
155 Coordinate closing process with buyer's agent and lender
156 Update closing forms & files
157 Ensure all parties have all forms and information needed to close the sale
158 Select location where closing will be held
159 Confirm closing date and time and notify all parties
160 Assist in solving any title problems (boundary disputes, easements, etc)
or in obtaining Death Certificates
161 Work with buyer's agent in scheduling and conducting buyer's
Final Walk-Thru prior to closing
172 Research all tax, HOA, utility and other applicable prorations
162 Request final closing figures from closing agent (attorney or title company)
163 Receive & carefully review closing figures to ensure accuracy of preparation
164 Forward verified closing figures to buyer's agent
165 Request copy of closing documents from closing agent
166 Confirm buyer and buyer's agent have received title insurance commitment
167 Provide "Home Owners Warranty" for availability at closing
168 Reviews all closing documents carefully for errors
169 Forward closing documents to absentee seller as requested
170 Review documents with closing agent (attorney)
171 Provide earnest money deposit check from escrow account to closing agent
173 Coordinate this closing with seller's next purchase and resolve any timing problems
174 Have a "no surprises" closing and present seller a net proceeds check at closing
175 Refer sellers to one of the best agents at their destination, if applicable
176 Change MLS listing status to Sold. Enter sale date and price,
selling broker and agent's ID numbers, etc.
177 Close out listing in Programs Required
Follow Up After Closing
178 Answer questions about filing claims with Home Owner Warranty company if requested
179 Attempt to clarify and resolve any conflicts about repairs if buyer is not satisfied
180 Respond to any follow-on calls and provide any additional information required from office
files.


“I’LL MAKE IT
HAPPEN”
YOU MAKE IT HOME…

Mon May 19 2008, 07:26

Realtor Critical Role Steps Con't...
101 Submit ads to company's participating Internet real estate sites
102 Price changes conveyed promptly to all Internet groups
103 Reprint/supply brochures promptly as needed
104 Loan information reviewed and updated in MLS as required
105 Feedback e-mails/faxes sent to buyers' agents after showings
106 Review weekly Market Study
107 Discuss feedback from showing agents with seller to determine
if changes will accelerate the sale
108 Place regular weekly update calls to seller to discuss marketing & pricing
109 Promptly enter price changes in MLS listing database
The Offer and Contract
109 Receive and review all Offer to Purchase contracts submitted by
buyers or buyer's agents.
110 Evaluate offer(s) and prepare a "net sheet" on each for the owner
for comparison purposes
111 Counsel seller on offers. Explain merits and weakness of each component of each offer
112 Contact buyers' agents to review buyer's qualifications and discuss offer
113 Fax or deliver Seller's Disclosure form to buyer's agent or buyer (upon request
and prior to offer being made if possible)
114 Confirm buyer is pre-qualified by calling Loan Officer
115 Obtain pre-qualification letter on buyer from Loan Officer
116 Negotiate all offers on seller's behalf, setting time limit
for loan approval and closing date
117 Prepare and convey any counteroffers, acceptance or amendments to buyer's agent
118 Fax copies of contract and all addendums to closing attorney or title company
119 When an Offer to Purchase Contract is accepted and signed by seller,
deliver signed offer to buyer's agent
120 Record and promptly deposit buyer's earnest money in escrow account.
121 Disseminate "Under-Contract Showing Restrictions" as seller requests
122 Deliver copies of fully signed Offer to Purchase contract to seller
123 Fax/deliver copies of Offer to Purchase contract to Selling Agent
133 Fax copies of Offer to Purchase contract to lender
124 Provide copies of signed Offer to Purchase contract for office file
125 Advise seller in handling any additional offers to purchase that may be
submitted between contract and closing
126 Change status in MLS to "Sale Pending"
127 Update HomeTrack™ to show "Sale Pending"
128 Review buyer's credit report results -- Advise seller of worst and best case scenarios
129 Provide credit report information to seller if property will be seller-financed
130 Assist buyer with obtaining financing, if applicable and follow-up as necessary
131 Coordinate with lender on Discount Points being locked in with dates
132 Deliver unrecorded property information to buyer
133 Order septic system inspection, if applicable
134 Receive and review septic system report and assess any possible impact on sale
135 Deliver copy of septic system inspection report lender & buyer
136 Deliver Well Flow Test Report copies to lender & buyer and property listing file
137 Verify termite inspection ordered
138 Verify mold inspection ordered, if required
Tracking the Loan Process
139 Confirm Verifications Of Deposit & Buyer's Employment Have Been Returned
140 Follow Loan Processing Through To The Underwriter
141 Add lender and other service vendors to HomeTrack™ so agents,
buyer and seller can track progress of sale
142 Contact lender weekly to ensure processing is on track
143 Relay final approval of buyer's loan application to seller
Home Inspection
144 Coordinate buyer's professional home inspection with seller
145 Review home inspector's report
146 Enter completion into HomeTrack™
147 Explain seller's responsibilities with respect to loan limits
and interpret any clauses in the contract
148 Ensure seller's compliance with Home Inspection Clause requirements
149 Recommend or assist seller with identifying and negotiating with trustworthy contractors to
perform any required repairs
150 Negotiate payment and oversee completion of all required repairs on seller's behalf, if needed
The Appraisal

Mon May 19 2008, 07:21

Realtor Functions in a Transaction Con't...
51 Research electricity availability and supplier's name and phone number
52 Calculate average u