User Power
Value/Post Ratio
23%
- Jul 26, 2007
- 2,215
- 515
- 46
4% is about right on a higher end home.
There are lots of different ways to look at this. If you do decide to list with someone, list with them because they know what they are doing and have a solid marketing plan for your property- not because they are your neighbor. If your marketing plan is the same as theirs (which it usually is) then don't use a Realtor. I would start off (since you are on the fence with hiring a Realtor) by meeting with at least 3 different ones and hearing their listing presentation. During the listing presentation you will want to find out a couple of things:
1. Days on the Market. Find out what the days on the market are for a home like yours in your area. This way you can know what to expect. Most FSBO end up listing because they have no idea of how long their home may take to sell- and they think it should sell right away!
2. Their list price to sales price as a percentage. A lot of Realtors "buy the listing" meaning, that they go in telling a seller they can get a lot more for the home than the seller was expecting, then they end up making price reductions. The problem with this, is that the first month your home is on the market is the most critical. After the newness wears off, your home becomes stale- and generally all you've done is wasted time and are setting yourself up for a low-ball offer.
3. Marketing plan. What are they going to do to market your home? You'll want to see sample flyers. Can they spell? Will they at least use cardstock paper? ...Presentation is everything- especially on a highend home. If their presentation of your home is unpolished keep looking.
If you do decide to FSBO, welcome looky loos- you'll get them, and who knows maybe they'll tell a friend. Realtors get looky loos too! The only way to really get around looky loos is to demand that they are prequalified before they come over- your call. Maybe consider buyer's incentives- you'll pay closing costs, etc. Like you said, you could always offer to work with buyer's agents for 2.5%. ...If you do this, I would create a stack of flyers and then find out when your real estate caravan is at your local dept. of RE and drop them off. ...Or have a Realtor's luncheon at your home, so they can preview.
Depending on your state, you can use a basic real estate contract found at Staples or Office Max for a basic transaction. Most Title companies will help you if there are questions or issues along the way.
Hope this helps- good luck to you!
There are lots of different ways to look at this. If you do decide to list with someone, list with them because they know what they are doing and have a solid marketing plan for your property- not because they are your neighbor. If your marketing plan is the same as theirs (which it usually is) then don't use a Realtor. I would start off (since you are on the fence with hiring a Realtor) by meeting with at least 3 different ones and hearing their listing presentation. During the listing presentation you will want to find out a couple of things:
1. Days on the Market. Find out what the days on the market are for a home like yours in your area. This way you can know what to expect. Most FSBO end up listing because they have no idea of how long their home may take to sell- and they think it should sell right away!
2. Their list price to sales price as a percentage. A lot of Realtors "buy the listing" meaning, that they go in telling a seller they can get a lot more for the home than the seller was expecting, then they end up making price reductions. The problem with this, is that the first month your home is on the market is the most critical. After the newness wears off, your home becomes stale- and generally all you've done is wasted time and are setting yourself up for a low-ball offer.
3. Marketing plan. What are they going to do to market your home? You'll want to see sample flyers. Can they spell? Will they at least use cardstock paper? ...Presentation is everything- especially on a highend home. If their presentation of your home is unpolished keep looking.
If you do decide to FSBO, welcome looky loos- you'll get them, and who knows maybe they'll tell a friend. Realtors get looky loos too! The only way to really get around looky loos is to demand that they are prequalified before they come over- your call. Maybe consider buyer's incentives- you'll pay closing costs, etc. Like you said, you could always offer to work with buyer's agents for 2.5%. ...If you do this, I would create a stack of flyers and then find out when your real estate caravan is at your local dept. of RE and drop them off. ...Or have a Realtor's luncheon at your home, so they can preview.
Depending on your state, you can use a basic real estate contract found at Staples or Office Max for a basic transaction. Most Title companies will help you if there are questions or issues along the way.
Hope this helps- good luck to you!