Any Real Estate Agents?

[Tominator]

We have any real estate agents on board?

[Guest TennesseeTurkey]

Im in the market too Chris

[stevebeilgard]

nope. but it's a pretty good time to buy. especially in high repo states

[JKAPP01]

i used to work with a pretty big REI. are you lookin to buy or sell? i have always been a fan of FSBO. Especially with the way things are now. If you are looking to buy, I have a wealth of knowledge. Cash permitting a guy could take the current situation and set himself well.

[MCH]

Not an agent but I'm a facilitator.

You always know I'm free if you have any questions. I average about 5 R/E transactions a week, from origination to completion.

[Orion_70]

Yeppers.. Realtor and Mortgage Broker

[Tominator]

Thanks guys.

We will be putting our current home on the market soon. We are building a new home here in a few weeks.

I guess my questions are:

What should I look for in a listing agent.

What kind of commission does a good agent demand?

I don't want to go FSBO, I just don't know enough about the market.

[Orion_70]

What should I look for in a listing agent.

First and foremost you need to find a local agent you are comfortable with and will market your property the way it should be. You should ask them about their marketing plan, where it's marketed, publications, etc. They should list it in a publication like Homes and Land and above all, on the Web. Realtor.com and personal/office websites since that's where most people start looking. They should provide you with a CMA (comparable market analysis) of your property's value and surrounding properties sold.

You should also ask the agent what needs to be done to the property to ensure it sells quickly. A good agent will give you direct feedback, even though it may not be what you want to hear, but in this market the little things make a huge difference between a house that sells and one that sits.

Have a few agents give you their listing presentation and see who you feel most comfortable with and what value they have to offer. How many homes have they sold in the last year, do you regularly see their signs, are they a top producer, how many homes do they currently have listed (this can hurt also). Some new agents may be really eager and bust their butt for you though, so don't rule them out either.

What kind of commission does a good agent demand? 6-8%

Most are 6% but depends on the property also

[MCH]

Commissions in this area run @ 6% for homes under 100k. Over 100k it fluctuates from 6 down to 4.

I can't comment on the practices in your area, but here, if I were wanting to sell, I would talk to an appraiser and order an evaluation on my property to give me a ballpark. Or you could just ask around and find out what similar houses have sold for in your area.

Then I would FSBO the property @ 5% over that value. First with just a sign in my front yard, and then on to advertisement.

You can get a R/E contract for your state online, I believe, and then you would let the financing bank handle the closing. In our area, all the seller really needs to do is to show up and sign. On occasion, they have to provide a termite inspection or a survey, but other than that, as long as they have clear title to the property, their responsibilities are limited.

[JJL]

I'm not a real estate agent...................but...............I did stay at a Holiday Inn Express last night.

Commission will vary with the area...................ask around.

First step.

Do you want an agent who will list your house............or do you want the agent who will sell your house. BIG difference. There are agents who get all kinds of listings, but make few sales. You should probably find a seller. That will involve a little give and take on your behalf. Be prepared to adjust your price, It will definately make the difference between listing your home and selling your home.

Best of luck, it's definately a buyers market.

JJL