sell by owner

[stephen]

USCTrojanCPA, the successful agents recognize the value of representation as they see that in their own business.  BTW, fellow Trojan and also a former AA CPA.

lots of SC guys on here...USC/TI meetup! We can crash one of USCTrojanCPA's open houses . I guess BruinDoc can come too, he seems alright for someone who went to that one state school in Westwood  .

OP: Hire an agent. IIRC 90%+ of FSBOs eventually get listed with an agent. Buyer's agents may even be hesitant to show the property, as many FSBOs don't really know what they are doing and it ends up being a headache of a deal. Not to mention all the calls from soliciting agents trying to secure your listing. That alone to me is worth the list side commision.

 

[usctrojancpa]

USCTrojanCPA, the successful agents recognize the value of representation as they see that in their own business.  BTW, fellow Trojan and also a former AA CPA.

lots of SC guys on here...USC/TI meetup! We can crash one of USCTrojanCPA's open houses . I guess BruinDoc can come too, he seems alright for someone who went to that one state school in Westwood  .

OP: Hire an agent. IIRC 90%+ of FSBOs eventually get listed with an agent. Buyer's agents may even be hesitant to show the property, as many FSBOs don't really know what they are doing and it ends up being a headache of a deal. Not to mention all the calls from soliciting agents trying to secure your listing. That alone to me is worth the list side commision.

Invade my open houses kind of like a USC/TI mob flash, huh?  haha

 

[usctrojancpa]

USCTrojanCPA, the successful agents recognize the value of representation as they see that in their own business.  BTW, fellow Trojan and also a former AA CPA.

Oh nice, AA was my #1 choice but ended up working at PWC in Orange County for 4+ years.  Fight On!

 

[rkp]

My biggest problem with the agent model is the vast majority of agents suck.  Heck IHB started as a place to make fun of the horrendous listings. 

Automatically assuming an agent will get you a better offer or even do a better service than you doing it yourself is false.  Especially with the ridiculously low barrier to entry that agents have. 

Like everything else, truly understand what someone is offering you and then make an informed decision.  Just hearing that there are numerous things that can go wrong is not enough.  What specifically can go wrong that AN AGENT will actually do something about?  What is the probability of that happening?  I have been party to a decent amount of RE transactions now and a good escrow officer and transaction coordinator will be way more beneficial than majority of agents. 

If you plan on selling your condo empty, your only need for the agent is to get the listing up and lockbox on.  Everything else can be easily managed.  Just last year, I helped someone sell their empty condo.  They hired a discount agent that did minimal and charged a flat fee and was upfront about their involvement.  We hired a handyman a painted a few accent walls and did touchups.  Description and rest were written by us.  Next thing you know, this condo sold for the highest in that tract.

Good pictures, clear description, easy showing access and it will be sold.  Set aside $5K for the listing agent and 2.5% for the buyers agent and make it look nice.  If you are paying more, see what they are offering you and make a rational decision. 

 

[BruinDoc]

USCTrojanCPA, the successful agents recognize the value of representation as they see that in their own business.  BTW, fellow Trojan and also a former AA CPA.

lots of SC guys on here...USC/TI meetup! We can crash one of USCTrojanCPA's open houses . I guess BruinDoc can come too, he seems alright for someone who went to that one state school in Westwood  .

OP: Hire an agent. IIRC 90%+ of FSBOs eventually get listed with an agent. Buyer's agents may even be hesitant to show the property, as many FSBOs don't really know what they are doing and it ends up being a headache of a deal. Not to mention all the calls from soliciting agents trying to secure your listing. That alone to me is worth the list side commision.

Thanks Stephen...Yes my state-supported education has served me well, and thanks for your tax dollars! Color me paranoid but I am sensing an ambush?! Can I get some UCLA back-up?!

 

[usctrojancpa]

USCTrojanCPA, the successful agents recognize the value of representation as they see that in their own business.  BTW, fellow Trojan and also a former AA CPA.

lots of SC guys on here...USC/TI meetup! We can crash one of USCTrojanCPA's open houses . I guess BruinDoc can come too, he seems alright for someone who went to that one state school in Westwood  .

OP: Hire an agent. IIRC 90%+ of FSBOs eventually get listed with an agent. Buyer's agents may even be hesitant to show the property, as many FSBOs don't really know what they are doing and it ends up being a headache of a deal. Not to mention all the calls from soliciting agents trying to secure your listing. That alone to me is worth the list side commision.

Thanks Stephen...Yes my state-supported education has served me well, and thanks for your tax dollars! Color me paranoid but I am sensing an ambush?! Can I get some UCLA back-up?!

Don't worry BruinDoc...I'm also a UCLA alum so I'll keep the Trojans in check. 

 

[irvine buyer]

My biggest problem with the agent model is the vast majority of agents suck.  Heck IHB started as a place to make fun of the horrendous listings. 

Automatically assuming an agent will get you a better offer or even do a better service than you doing it yourself is false.  Especially with the ridiculously low barrier to entry that agents have. 

Hiring the right agent is key.  You're right in that a bad or inexperienced agent brings little value to the table.  In this business, its the 75/25 rule where 25% of the agents do 75% of the business.  You can usually figure out who that agent is in your area by who's been listing the homes that sold and that's who I would start out with.  When you interview the agent(s), ask about the recent sales in your area.  Someone knowledgeable and active in the area should be able to give you quite a bit of detail about each sale.  In many cases, they may have proposed the listing as well.  If you focus too much on the listing fee, you may end up getting what you pay for.  My two cents.

 

[usctrojancpa]

My biggest problem with the agent model is the vast majority of agents suck.  Heck IHB started as a place to make fun of the horrendous listings. 

Automatically assuming an agent will get you a better offer or even do a better service than you doing it yourself is false.  Especially with the ridiculously low barrier to entry that agents have. 

Like everything else, truly understand what someone is offering you and then make an informed decision.  Just hearing that there are numerous things that can go wrong is not enough.  What specifically can go wrong that AN AGENT will actually do something about?  What is the probability of that happening?  I have been party to a decent amount of RE transactions now and a good escrow officer and transaction coordinator will be way more beneficial than majority of agents. 

If you plan on selling your condo empty, your only need for the agent is to get the listing up and lockbox on.  Everything else can be easily managed.  Just last year, I helped someone sell their empty condo.  They hired a discount agent that did minimal and charged a flat fee and was upfront about their involvement.  We hired a handyman a painted a few accent walls and did touchups.  Description and rest were written by us.  Next thing you know, this condo sold for the highest in that tract.

Good pictures, clear description, easy showing access and it will be sold.  Set aside $5K for the listing agent and 2.5% for the buyers agent and make it look nice.  If you are paying more, see what they are offering you and make a rational decision. 

Very true, most agents are a waste of space.  I'd say that only 1/3 of my transactions were with agents who were a pleasure to work with....no attitude, no BS, no lies, no lack of community, no drama, etc.  Not all agents are created equal as no one shoe fits all feet and it's best to vet an agent before you move forward with them.  A good agent earns their keep and brings true value to their clients.  You can definitely get a home sold without a listing agent but many sellers just don't have the time or patience for that.  The current commission model is old, tired, and in need of change as it doesn't align the interests of the agent with that of the seller very well which is exactly why I came up with my unique variable listing commission structure.