How to choose listing realtor in a sellers' market?
LE
8 years ago
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Open Houses - Benefits Realtors or Sellers?
Comments (19)I agree with babyv7. We sold our house in SoCal in November and we said right off that we didn't want to do an open house. Our realtor (one we'd used before and trusted) agreed and said they mostly benefited realtors and he would rather do a broker's caravan, which were held every Wednesday in our city. DH and I both worked full-time, he was moving out of state for his job and I just didn't want to give up an afternoon every weekend for an open house. I went to all the open houses in our neighborhood for a few months when we first thought about selling. I was there just to see what my competition was. Some houses had one every weekend. One house had an open house every Tuesday afternoon (?). I felt sorry for those lonely agents. One of them (not a very good one!) confessed that the house was overpriced but the owner just wouldn't reduce it. We priced our house reasonably and it sold even in a market where "no one was buying." Last I checked most of the other houses are still on the market. I think the right pricing is what will attract the most interest and most serious buyers will schedule appointments and not just go to open houses. We just bought a house in Oregon and went to two open houses but the others we saw were scheduled showings with our realtor. We bought one we saw with him. But this may be a regional thing and I would go with whatever works in your area. If people are used to open houses then I would do at least one or two, but not every weekend....See MoreSeller used realtor, now FSBO, comission question!
Comments (4)Okay, so I'll have to ask the seller what the specific terms of the contract were that he signed with the realtor? What do you mean by this: "Worst case they will owe commission for a few more weeks with you." Are you referring to a specific time frame that may have been set in his contract? I think his house may have been a bit overpriced before, but is pretty reasonable now. In my opinion, it is priced where it should be now and he will probably sell it quickly with this new price reduction. The house needs a lot of updating though, and this may have been turning many potential buyers away. I just don't quite understand this whole concept that the realtor he had signed with is still entitled to a comission on the house if he sells it to us....See MoreWhy would realtors try to misrepresent the market?
Comments (14)Selling anything requires creating a sense of urgency. If you ask any good sales person they are going to try to find a way to put out a message that creates a sense of urgency. The Realtors Association knows this as well and you can bet that they will jump on any message that creates a sense of urgency in buyers and try to ignore everything else that does not. Nothing hurts a buyers sense of urgency like delivering a message that the market is falling. That sends a message to buyers that its probably better to wait then jump. Lastly, if you were interested in buying a Ford Mustang GT, you wouldn't go to a ford dealership and ask a manager or sales person what the car typically sells for. You know the answer you most likely will get. Why people think that Realtors are some kind of different sales animal is amazing given the fact that the real-estate business is more production oriented then the auto sales. If Realtors don't sell anything, they don't eat. In the end, like anything, judge the source and their natural biases before you believe the message....See MoreRealtors Marketing Your House. Opinions?
Comments (28)I have to say, I love my real estate agent. Our house is still for sale, but we found our dream house before we put ours on the market. She went out of her way to find us the best agent in the new house area to represent us who we immediately took a liking to and has worked herself to death to make the new house deal go through and be ready. Our agent locally even goes so far as to secure a domain name for every clients house and create the house its own website that goes to the new owners. She markets everywhere on the Internet, we have her cell phone that she answers personally anytime of the day. If she can't talk, she'll tell you that and calls you back soon after. She came out initially and we asked for an honest appraisal of what needed doing before going up for sale and we did almost everything she brought up. We didn't sign a thing till the day the house went on the market and she never asked us to. She's special and I wish every agent was as professional, warm and delightful. We've had the rudest agents come through showing the house that didn't even have the courtesy to leave a card, give any feedback, give even a 20 minute notice so we could get out of the house but just knock on the door and ask us if they could show the house. Those are the people that shouldn't be in the business. So, like any other industry, you have the good the bad and the just plain ugly. Here's the website she made for our simple suburban house. Here is a link that might be useful: 780 Windemere Lane House...See MoreLE
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