Real Estate

Lower your Listing/Selling Fees - Use Flat Rate MLS

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  • Apr 12th, 2019 11:47 am
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Sr. Member
Mar 13, 2009
520 posts
62 upvotes
Maple
eonibm wrote:
Feb 16th, 2019 4:47 pm
Your reply makes it pathetically obvious why you are struggling so much with the concept of selling a property yourself on MLS and prefer to pay $30-$50K so someone else can hold your hand and guide you through the simple process. Your comparisons are faulty parallelism. The bar is so insanely low to become a real estate agent it's not funny. You can become one in less than 4 months after spending less than $5K, studying part time and you don't even have to have finished high school! That's hardly the case with those professions you try to compare them to. I mean really, are you that naive? (Rhetorical question btw...)
Your replies and overall tone of communication makes it pathetically obvious to me that I'm not interested to have any dialogue with you. Your offensive and arrogant posts would have you banned from my forum a long time ago, but I guess different forums have different standards.

Over the years, I learned a principle that served me very well in life: Don't waste your words on people who deserve your silence.

[OP]
Deal Guru
Aug 2, 2010
13555 posts
3621 upvotes
Here 'n There
ak1004 wrote:
Feb 17th, 2019 10:19 pm
Your replies and overall tone of communication makes it pathetically obvious to me that I'm not interested to have any dialogue with you. Your offensive and arrogant posts would have you banned from my forum a long time ago, but I guess different forums have different standards.

Over the years, I learned a principle that served me very well in life: Don't waste your words on people who deserve your silence.

Rather than banned I am celebrated on here with my thousands of likes for my posts from the wonderful community of RFD members. You really need to adjust your attitude. Just because you are wrong all the time, as I and many others have pointed out in this and other threads, is no need to get so bent out of shape and lash out at others. Life's too short.

In other news, you not commenting on my posts is going to be blessing.
Newbie
Dec 19, 2018
37 posts
7 upvotes
It honestly depends on what you are selling and how much experience you have vs. the agent that you are hiring. I have seen people use comfree to sell their place and save $13k in comission less the comfree fee and then have a super similar unit by an experienced agent sell for over $40k+ more not even 2 weeks later. So they did all the work themselves. Took on all that risk of pricing it properly and using the right strategy and still got less.

Interview top agents that sell a lot in your area and have been doing it full time for at least 5 years. Ask to see their sold work on some of their listings. Compare how they did price wise to people that sold before and after them.
[OP]
Deal Guru
Aug 2, 2010
13555 posts
3621 upvotes
Here 'n There
musiclover4 wrote:
Apr 10th, 2019 6:52 pm
It honestly depends on what you are selling and how much experience you have vs. the agent that you are hiring. I have seen people use comfree to sell their place and save $13k in comission less the comfree fee and then have a super similar unit by an experienced agent sell for over $40k+ more not even 2 weeks later. So they did all the work themselves. Took on all that risk of pricing it properly and using the right strategy and still got less.

Interview top agents that sell a lot in your area and have been doing it full time for at least 5 years. Ask to see their sold work on some of their listings. Compare how they did price wise to people that sold before and after them.
Of course if you list yourself on something like Comfree or even MLS and you don't know what you are doing you may not do well. That's a given. You need to stage properly, price properly, etc. None of that is rocket science. I mean, really?

Also, you can't say that just because a similar unit sold for more 2 weeks later that that could have happened with previous sale. I've seen similar properties listed by agents exhibit the same behaviour. There is really no control group for a propertly. Coulda woulda shoulda doesn't always apply.

I wonder why in my area when an agent has a listing that doesn't sell the only 'marketing' angle is to reduce the price. I see it all the time. Funny that!

What you have to realize is that once a property is listed it's not like the listing agent goes around town knocking on doors looking for buyers. Their agent's will bring them because they are hungry for the commission. That's what a lot people don't get. It's pull, not push!
Newbie
Dec 19, 2018
37 posts
7 upvotes
eonibm wrote:
Apr 10th, 2019 11:43 pm
Of course if you list yourself on something like Comfree or even MLS and you don't know what you are doing you may not do well. That's a given. You need to stage properly, price properly, etc. None of that is rocket science. I mean, really?

Also, you can't say that just because a similar unit sold for more 2 weeks later that that could have happened with previous sale. I've seen similar properties listed by agents exhibit the same behaviour. There is really no control group for a propertly. Coulda woulda shoulda doesn't always apply.

I wonder why in my area when an agent has a listing that doesn't sell the only 'marketing' angle is to reduce the price. I see it all the time. Funny that!

What you have to realize is that once a property is listed it's not like the listing agent goes around town knocking on doors looking for buyers. Their agent's will bring them because they are hungry for the commission. That's what a lot people don't get. It's pull, not push!
I am very confident that the seller could have got a lot more for it if they used a good real estate agent. There is more to it then just staging. You have to know how to strategize, negotiate, know how to talk to the other side and most importantly have a good understanding of what's going on in the market. Someone that spends 50-60 hours buying and selling in your market will have more intel and should be able to get you a higher price. Sometimes people use a comp from 3 months ago and price it off that not knowing that the market has picked up significantly since then.

lol then that agent isn't very good. Sounds like they overpriced it and didn't have a good strategy. I agree most agents are not good but if you manage to find that good one they are worth it!
Deal Addict
Mar 27, 2004
3013 posts
465 upvotes
Toronto
Look at the listings with flat fees, they linger on the market for a long time.
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May 15, 2016
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oasis100 wrote:
Apr 11th, 2019 11:19 am
Look at the listings with flat fees, they linger on the market for a long time.
Why is that?
Newbie
Dec 19, 2018
37 posts
7 upvotes
oasis100 wrote:
Apr 11th, 2019 11:19 am
Look at the listings with flat fees, they linger on the market for a long time.
Yep! Lots of agents don’t want to deal with a private seller either. More hand holding and work for them.
Sr. Member
User avatar
Jul 8, 2010
844 posts
572 upvotes
Ontario
musiclover4 wrote:
Apr 11th, 2019 12:47 pm
Yep! Lots of agents don’t want to deal with a private seller either. More hand holding and work for them.
Then you start wondering from where all the bashing against realtors... Putting client interest first, isn't it that the story industry try to sell?!?
Looks like is more convenience for RE....
Deal Addict
Mar 27, 2004
3013 posts
465 upvotes
Toronto
musiclover4 wrote:
Apr 11th, 2019 12:47 pm
Yep! Lots of agents don’t want to deal with a private seller either. More hand holding and work for them.
Because they don't pay commission.
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Newbie
Dec 19, 2018
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oasis100 wrote:
Apr 11th, 2019 3:53 pm
Because they don't pay commission.
A lot of them do pay. It’s cause the sellers don’t know what they are doing and/or have it so overpriced sometimes that it’s not worth their clients time. Then months go by and someone swoops in with a low offer and they take it.

And on the rare one where they are not paying any commission the buyer is smart enough to deduct that from the price.

Good opportunity for the buying agent to pick up a good deal for their clients sometimes.

I think a lot of people underestimate how much work it can actually be. Not to mention the stress
[OP]
Deal Guru
Aug 2, 2010
13555 posts
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musiclover4 wrote:
Apr 11th, 2019 11:09 am
I am very confident that the seller could have got a lot more for it if they used a good real estate agent. There is more to it then just staging. You have to know how to strategize, negotiate, know how to talk to the other side and most importantly have a good understanding of what's going on in the market. Someone that spends 50-60 hours buying and selling in your market will have more intel and should be able to get you a higher price. Sometimes people use a comp from 3 months ago and price it off that not knowing that the market has picked up significantly since then.

lol then that agent isn't very good. Sounds like they overpriced it and didn't have a good strategy. I agree most agents are not good but if you manage to find that good one they are worth it!
Strategize, negotiate, 'how to talk to the other side', lol. You obviously are not an agent. Paper is signed back and forth when offers are made. It's pretty basic. There's really not much to it as I have seen having been on both sides for a while now. Anyone that tries to tell you it's 'oh so complicated and requires so much talent' hasn't got a clue. As for 'get you a higher price', since when is the seller twisting the buyer's arm? That's the biggest urban myth ever.
[OP]
Deal Guru
Aug 2, 2010
13555 posts
3621 upvotes
Here 'n There
oasis100 wrote:
Apr 11th, 2019 11:19 am
Look at the listings with flat fees, they linger on the market for a long time.
What's important is that there is a carrot for the buying agent, ie 2-2.5%. No buying agent cares whether there is a flat fee for the listing agent, nor do the buyers.

As if flat rate listings have a monopoly on that lol. I've seen many full-commission listings linger on the market for a long time from so-called 'top' agents (Kalles, Sotheby's, etc, the list goes on and on). Then the price gets reduced again and again and again until it sells.
Newbie
Dec 19, 2018
37 posts
7 upvotes
eonibm wrote:
Apr 11th, 2019 6:34 pm
Strategize, negotiate, 'how to talk to the other side', lol. You obviously are not an agent. Paper is signed back and forth when offers are made. It's pretty basic. There's really not much to it as I have seen having been on both sides for a while now. Anyone that tries to tell you it's 'oh so complicated and requires so much talent' hasn't got a clue. As for 'get you a higher price', since when is the seller twisting the buyer's arm? That's the biggest urban myth ever.
Your advice scares me. There are plenty of areas that are still a sellers market.

Go ahead. Keep tripping over dollars to pickup pennies.

You get what you pay for.
[OP]
Deal Guru
Aug 2, 2010
13555 posts
3621 upvotes
Here 'n There
musiclover4 wrote:
Apr 11th, 2019 6:40 pm
Your advice scares me. There are plenty of areas that are still a sellers market.

Go ahead. Keep tripping over dollars to pickup pennies.

You get what you pay for.
That's where you are so wrong my friend. Maybe if you are trying to do your own surgery. Being an agent doesn't come close.

Here's a clue: You only have to be 18, have not even finished high school, have $4K and 4 mos to study and then you are an agent. That is reflected in how easy-peasy it is to transact deals and earn the huge commissions. What part of that are you missing?

Your comments scare not only me but EVERYONE!

You got it the wrong way around my friend. As an agent now, I'm living proof that it's 'tripping over pennies to pick up the dollars'!

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