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Cold Weather and Frozen Pipes
Cold weather is a big problem for home and property owners- especially if you’ve moved and your home is setting empty. Why? PLUMBING!
If your home gets too cold, the water in your pipes can freeze overnight and then burst in the day when it...
Mortgage Qualification Problems – Low Appraisals
The real estate market in the United States is undeniably hot, hot, hot. This toward pace has resulted in an odd mortgage qualification problem – low appraisals. Here are your options if you get a low appraisal amount.
Appraisals
An appraisal...
Remodeling For Resale Value
Home owners who remodel their homes or make improvements to their property naturally hope to recoup any costs when it comes time to refinance or put their home up for sale. However, when it comes to financing and the real estate market, some...
The Real Estate Gurus B.S.!
We have all seen them making fantastic promises that you will be financially free in 90 days. The sales pitch is so intoxicating that you would probably get a DUI if you were driving your vehicle. Less then fifthteen minutes into the infomercial...
Your Realtor® Marketing Plan
The steps to creating an effective marketing plan begin with identifying who you are going to be targeting, what you are going to spend, and how many sales you are going to receive as a result of your efforts. By identifying this information in the...
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Homes For Sell By Owner – “FSBO” - And Buyer Brokers
You’re selling your home as a FSBO (for sale by owner) and you get annoyed when real estate brokers call you, right? That’s a reasonable response when you’re doing all the work to market your property to save thousands of dollars in broker commissions. However, when a “buyer broker” calls, you might want to listen.
Why Listen
To understand why I say that, we need to understand the functions of “listing brokers” and “buyer brokers.” Real estate brokers can and do serve both functions, though some specialize.
Some brokers who call you are interested in listing your home. They want to market your home for you. The amount of commission charged for this service varies, but where I live, most brokers list homes for a commission of 6 percent of the sales price. When the home sells, if another brokerage firm has brought the buyer to the deal, the listing broker pays the selling broker half or 3 percent.
When you’re successfully operating as a FSBO, you’re getting folks to come and look at your house, or condo, or whatever, and you don’t need a listing agent. However, what if you’ve been doing this for a while and none of the lookers has been converted to a buyer? What then?
Well, if a broker calls you and says he or she is working with buyers and they’d like to be able to show your home, maybe you should consider it. They probably only expect about half the typical listing commission. That still allows you to save serious money. Perhaps you can even negotiate down a bit from half. This is especially true if
your home is appropriately priced above the average price for a home in your area. In my area where 3 percent to a selling broker is frequently acceptable, I’ve seen brokers accept 2.5 or even 2 percent. It doesn’t hurt to ask.
As a bonus in that situation, you get someone who is knowledgeable about the process with an interest in getting the deal to settlement. True, they don’t represent you. They represent the buyer, but the buyer wants your home and the broker wants a payday. In short, the buyer broker has incentive to put an oar in when problems arise.
Don’t misunderstand me. I’m not for one second suggesting that you pay more than is necessary to sell your home. At first, take names and phone numbers of “buyer brokers” who call you. Then, if you find you need to, call back the ones who impressed you.
There is a middle ground between going it alone and listing with a broker. If you find you need to, this middle ground can be worth exploring through buyer brokers.
About the Author: Raynor James is with http://www.fsboamerica.org - providing homes for sale by owner, "FSBO", properties. Are you thinking, "Should I sell my home?" Visit http://www.fsboamerica.org/seller.cfm to sell your home sale for free for one month.
Source: www.isnare.com
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