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I imagine it might depend on the state, but is this true? If you list your house for sale and a buyer makes an unqualified offer at asking price, are you free to reject if you do not have a better offer in hand?
I'm an appraiser and people almost always believe their house is better than it is. They'll find a high comp in a better location, better condition, etc. and think it's the same as their house.
Yes, there's nothing forcing to you to sell. Your agent might push you to sell but you can decline any offer you want, even if it's above asking.
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Start hiding money... this is the next phase in the "divorce him and rake him over the coals" playbook
Cliff Clavin said:
We did the same with a Brooklyn condo last year. Sold it ourselves, wife did two open houses, we had a bidding war and made out like bandits. Gave the buyer's broker 2% because he asked if we would pay a commission if he brings his buyers. We negotiated him down from 3-2. Overall saved a lot of money this way.Cliff Clavin said:
We've been using both, a lot, both to shop for new houses, and to value ours. It's a unique/oddball property and house, but I think fits in around 50k above what they're suggesting. Worst case I figure we list and, if no sniffs, drop it 50k after a couple weeks. Not a big deal. We're not in a massive rush to sell (we will buy in parallel), and so I'd rather have the extra 50k in my pocket to put towards the next house...fantasycurse42 said:
God, so so true.
Actually yes, we added the driveway at the hilltop right up to the house, which the broker believes resolved the one major issue with the house previously -- the hill to the driveway below and the long stairway up to the house. Of course, she didn't emphasize this problem when we were the buyers of the house...
It's not ours yet. Lots of negotiation ahead if we decide to pull the trigger. The sellers have it priced well above market since they gut renovated it down to the studs and think they therefore should get more for it. Even their broker admitted it was priced "a little aggressively." I agree they should go a little above value given the awesome whole house reno, but not as far as they are. It's nearly 5k square feet inside when you include the finished basement, and is really awesomely done and the PERFECT layout and flow for us, but the catch is that outside it just looks like a very average house, and on a smallish piece of property. At this price point, you would expect to be blown away from the curb. Then again, as I said to my wife, we're not going to be spending all that much time at the curb, and who gives a crap what anyone thinks. It's what's inside that counts, brah.
norm is 6%.Is 5% really the new norm? I'll raise this for sure.
Agreed....emotion is dangerous in real estate. Best to leave it at the door. That said, I've moved four times and sold myself three times. The one time we used an agent was an interstate move. In my area all the standard docs can be found online. All you need is a lawyer to help with the legaleeze
Last 2 houses I've sold and bought were all done at 5 and my wife's best friend who sells houses to Broncos players also works at 5.norm is 6%.Is 5% really the new norm? I'll raise this for sure.
Anyone that does it for less isn't going to put in the same effort. It costs $$ for the listing agent to market your property.
My real estate attorney told me flat-out the going rate in MA right now is 5%. that was before I listed FSBO offering 2.5% to a buyer's broker.Last 2 houses I've sold and bought were all done at 5 and my wife's best friend who sells houses to Broncos players also works at 5.norm is 6%.Is 5% really the new norm? I'll raise this for sure.
Anyone that does it for less isn't going to put in the same effort. It costs $$ for the listing agent to market your property.
Beat me to it...."sold" is the key here not "for sale"
Can't stress this enough.
So many people get wrong impressions of their homes by going off listed houses. Anyone can list their house for a billion dollars if they want.
Research what homes sold for, that will give you a more precise MV comp then use current listings to decide how you want your house to fit in.
Pretty sweet. Spoke to the broker today and asked if the commission would be "standard 6%." Probably stupid on my part, but she's a family friend. She said no way, usually it's 5%, but she does a 4% rate for friends.johnnycakes said:My real estate attorney told me flat-out the going rate in MA right now is 5%. that was before I listed FSBO offering 2.5% to a buyer's broker.Drifter said:Last 2 houses I've sold and bought were all done at 5 and my wife's best friend who sells houses to Broncos players also works at 5.Getzlaf15 said:norm is 6%.Is 5% really the new norm? I'll raise this for sure.
Anyone that does it for less isn't going to put in the same effort. It costs $$ for the listing agent to market your property.
so classic
