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On 27-Jun-2005, "Don" <dwzimm@telus.net> wrote:
> > The listing agent should already have a contract with the seller for 6%.
> >
> > Why
> > would the Agent settle for half? Keep in mind it's the buyer's agent
> > that
> > does most of the work leading up to the closing. Unless the house was
> > grossly over priced and they weren't getting any action. Chances are you
> >
> > WAY
> > overpaid for that house.
>
> I guess I didn't make it clear what happened. No agents were involved. I
> priced the house about what I believed it would realistically bring, lets
> say $175,000. Then I said to the potential buyer: "If I sold this house
> through an agent, you would have to pay $175,000, and I'd end up with
> $165,000 after paying a $10,000 commission. I'll sell it to you for
> $170,000." So the buyer and I each ended up with $5000 more than we would
> have otherwise.
How many buyers did you show your house to before you sold it? If your home
is shown to, say 3 qualified people in a month versus 30, do not you think
you could have gotten someone to pay you a lot more than you did? If you
were getting showings with minimal advertising at 175k, I guarantee you
could have gotten at least 199-225k if you had Global exposure.
How many potential buyers walked through your home before you sold? Out of
that number how many did you feel were serious and had the capacity to buy?
How could you tell? Did you ask for a Source of Funds / Pre-qualification
Letter? What length of time did you have it "on the market?"
--
Warmest regards,
Steve Horrillo, Realtor / CEO / C.Ht.
http://BrokerAgentTraining.com(Advanced Training for Real Estate
Professionals)
http://over100percent.com(See How to Earn Over 100 Percent at EXIT Realty)
http::/HipFSBO.com (Find a FSBO Friendly Real Estate Professional)
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Re: Why do you still need an agent to buy a home?
