Who Needs A Realtor? (NF)

[solopaddler]

Joanne and I have been contemplating a move recently and last week we decided to list the house.

We thought we'd try privately first since we're not under any pressure. So last week we stuck a sign in the lawn.

 

We've literally been swamped with interest and earlier this evening we accepted a firm offer for our asking price.

We've also got two other conditional offers waiting in the wings.

 

Everything should be finalized before I leave for the north shore of lake Superior Tuesday night.

 

I'm taking a couple of buddies into a truely amazing brook trout lake.

 

Popping the cork on a bottle of champagne at the moment....Ahhh, life is good.

Edited May 2, 2010 by solopaddler

[JohnF]

Ahhh... life is good.

 

Congratulations.

 

JF

[asdve23rveavwa]

Wow, does it make you wonder if you should have asked for a few more dollars for the house? Although, you can't beat moving it that quickly...congrats!

[irishfield]

Gonna be a long commute from the lake...

[Tom McCutcheon]

Don't lose sleep over the price you got..... You'r happy and the buyer is happy, that's all that matters.

 

Congratulations.

[solopaddler]

Congratulations.

 

JF

 

Thanks John. You'd be the first person I called if I ever did need a realtor.

 

 

Wow, does it make you wonder if you should have asked for a few more dollars for the house? Although, you can't beat moving it that quickly...congrats!

 

Yeah we've wondered, but we got what we wanted so we're happy.

 

Definitely glad it's over. I've showed the house to 48 people in the last 9 days LOL!

 

 

Gonna be a long commute from the lake...

 

It already is Wayne, nothing new there.

[JohnF]

Thanks John. You'd be the first person I called if I ever did need a realtor.

 

Thanks. I appreciate that. If you have any questions don't be afraid to ask.

 

JF

[Guest gbfisher]

Can't say I don't blame you for wanting to save by not using a realtor. Specially with the new tax.

The thousands you would have spent can help.

[anders]

Congrats on the house!

 

...where you headed for Brookies...we were out today...awesome day...20+ specks two just over 20 inches.

[corvette1]

congrats mike wears the move to

[ch312]

should have countered with an offer above your asking price

 

i will be mortgage free this fall and plan on selling the house privately next summer/fall. how difficult is the process for an average joe to sell a house? im one of those types that refuses to give away hard earned money when i can complete the task on my own. not cheap...smart

[Leecher]

Sweet Mike.... life is good for sure

Good luck on your hunt for them brookies Hope they come out to play

[solopaddler]

...where you headed for Brookies...we were out today...awesome day...20+ specks two just over 20 inches.

 

Somewhere in the vicinity of White River. A lake I discovered 23 years ago and have subsequently fished on occasion.

 

I could tell you exactly where but then I'd have to kill you.

 

 

congrats mike wears the move to

 

Dundas, Ancaster, West Hamilton mountain...not sure yet.

 

 

 

i will be mortgage free this fall and plan on selling the house privately next summer/fall. how difficult is the process for an average joe to sell a house? im one of those types that refuses to give away hard earned money when i can complete the task on my own. not cheap...smart

 

The process is easy. Assuming the house and property are presentable, not outdated and it's priced properly.

 

Beyond a sign on the lawn there's several ways to market your property online that don't cost a cent.

 

Lawyers will handle the transaction (still can't avoid that ), so there's nothing to it.

 

You just have to have the house in a pristine state and be prepared to show it at any time.

 

In our case the process was made even easier because the market always picks up late April and May.

This year it's especially busy 'cause everyone's trying to avoid the new taxes coming July 1st.

 

Congrat's on being mortgage free, must be nice!

Edited May 3, 2010 by solopaddler

[Spiel]

Popping the cork on a bottle of champagne at the moment....Ahhh, life is good.

 

 

 

 

[fish_fishburn]

I'm glad it worked out for you Solo. My buddy was relocating to Ottawa and put his house up for sale (FSBO). He had lots of lookers and no takers for 3 months. He then listed it with a brokerage and it was sold in 14 days.

[aniceguy]

wow that house you had mike was amazing..........maybe you ll make the move closer into the city....enjoy that trip

[Harrison]

I'm glad it worked out for you Solo. My buddy was relocating to Ottawa and put his house up for sale (FSBO). He had lots of lookers and no takers for 3 months. He then listed it with a brokerage and it was sold in 14 days.

 

Congrats Mike, now the hunt begins.

 

Private sale is the way to go. IMO,no brainer.

 

Fishburn, majority of realtors will not show a private house to their clients because there is no commision. One thing I did was place the Ad in Kijiji, and offer a $500 finders fee to realtors if they brought the buyer in. I didn't need to as it sold quickly, but I got a few more calls!

 

I am looking for private sales now to buy. Or I'll find it on MLS, and use the realtor selling the property instead of sigining with one, as they would get the full commission and may drop a couple %'s to get the sale.

Edited May 3, 2010 by Harrison

[solopaddler]

Congrats Mike, now the hunt begins.

 

Private sale is the way to go. IMO,no brainer.

 

Fishburn, majority of realtors will not show a private house to their clients because there is no commision. One thing I did was place the Ad in Kijiji, and offer a $500 finders fee to realtors if they brought the buyer in. I didn't need to as it sold quickly, but I got a few more calls!

 

I am looking for private sales now to buy. Or I'll find it on MLS, and use the realtor selling the property instead of sigining with one, as they would get the full commission and may drop a couple %'s to get the sale.

 

 

Actually I was approached by many realtors wanting to show the house to clients.

All to a T were willing to negotiate with me.

 

The people that bought our house were represented by a broker. They paid our full asking price and are paying the agents commission themselves.

[Harrison]

Actually I was approached by many realtors wanting to show the house to clients.

All to a T were willing to negotiate with me.

 

The people that bought our house were represented by a broker. They paid our full asking price and are paying the agents commission themselves.

 

Now there's a win win!

Edited May 3, 2010 by Harrison

[wallacio]

Nice going Mike - that has to be a huge weight off of the shoulders and perfect timing for our trip!

 

I can't wait...I barely slept last night (mostly thinking about the 1,000,000 things I need to do at work before we leave tomorrow) and probably won't tonight either. I don't think I've ever been this excited for a trip before...every one all the way in Southern Ontario will hear me hollering when the first 5lb Brookie is landed!!!

[solopaddler]

Nice going Mike - that has to be a huge weight off of the shoulders and perfect timing for our trip!

 

I can't wait...I barely slept last night (mostly thinking about the 1,000,000 things I need to do at work before we leave tomorrow) and probably won't tonight either. I don't think I've ever been this excited for a trip before...every one all the way in Southern Ontario will hear me hollering when the first 5lb Brookie is landed!!!

 

It is a huge weight of my shoulders bud, and yeah perfect timing.

 

I'm pretty pumped too. Not sure about 5lbers...but you'll catch tons and tons of 18-22"ers.

[JohnF]

should have countered with an offer above your asking price

 

i will be mortgage free this fall and plan on selling the house privately next summer/fall. how difficult is the process for an average joe to sell a house? im one of those types that refuses to give away hard earned money when i can complete the task on my own. not cheap...smart

 

Don't be smart like the folks here in town who inadvertently included all their furniture, clothing and cars as part of the deal. They crafted their own offer with fancy legal-sounding language to save money.

 

If you are going to be your own salesperson at least have a real estate lawyer check your paperwork to ascertain that you actually are accomplishing what you intend to accomplish. In fact it's perhaps best to have a lawyer draft the paperwork. They buy the right to use our copywrited Ontario real estate forms and know how to fill them in properly to protect you.

 

JF

[fish_fishburn]

Harrison,why not use a brokerage if your buying? Doesn't usually cost the buyer anything and you spread the wealth a little between brokerages.There hungry I heard hehe. Using the listing brokerage is fine if your okay with multiple representation, some people are not. Also nice to have someone representing you if you get into multiple offers and counter offers as time is of essence. I agree tho, no problems with selling your property on your own. And no I'm not a sales sales rep.

[Harrison]

Harrison,why not use a brokerage if your buying? Doesn't usually cost the buyer anything and you spread the wealth a little between brokerages.There hungry I heard hehe. Using the listing brokerage is fine if your okay with multiple representation, some people are not. Also nice to have someone representing you if you get into multiple offers and counter offers as time is of essence. I agree tho, no problems with selling your property on your own. And no I'm not a sales sales rep.

 

I was just thinking of ways to maximize my budget.

 

If the listing agent sells the house they get 5% say, now the buyers agent gets the other 5% each minus broker fees and expenses.

 

I just negoitated with a seller agent that they would take a lower commission if it meant selling the house with-in my budget considering now they would get the whole 10%. I sign a deal with them for this individual property only and put in an offer. The little savings on the real estate fees may put me in a house I otherwise might not have had a chance at.

 

Not in real estate either, just a family man on a fixed income.

Edited May 3, 2010 by Harrison

[JohnF]

 

Fishburn, majority of realtors will not show a private house to their clients because there is no commision. One thing I did was place the Ad in Kijiji, and offer a $500 finders fee to realtors if they brought the buyer in. I didn't need to as it sold quickly, but I got a few more calls!

 

I am looking for private sales now to buy. Or I'll find it on MLS, and use the realtor selling the property instead of sigining with one, as they would get the full commission and may drop a couple %'s to get the sale.

 

Our licencing act (REBBA) actually makes it illegal for us on the basis of commission amount to avoid informing our clients of an unlisted property that we know is on the market.

 

Some folks find that there are major benefits to having a realtor representing you instead of only the sellers benefiting from one-sided representation. By entering into a Buyer Representation agreement with a RECO registrant you have now got full representation and a legal obligation for the realtor to help you determine what the fair market value on the property is as well as to dig out material facts (information about the property which might affect your decision on whether or not to buy) that might be relevant based on the information and instructions you've given your realtor/agent at the outset of your house hunt. A listing representative who has no contractual obligations with you has certain confidentiality obligations to the seller that may preclude sharing certain info and advice with you. Working with the listing realtor there is some protection for you, certainly better than you get buying from a private seller who has little obligation to disclose facts which you'd want to know, but not as much as if you have our own representation agreement with a realtor with all the legal weight of the REBBA requirements and Agency Law to inform & protect you.

 

I know this sounds very self-serving but I really don't expect to get business from this since I work in one little area and most of you are spread all over Ontario. Our industry is working hard to get the message out that there are potential pitfalls in trying to deal privately for both buyers and sellers and many of us honestly believe that we bring specific knowledge and expertise to the table that makes whatever commission we work for worthwhile. And as long as I'm on that issue, don't believe all you read in the media about high fixed commissions etc. We've been negotiating them with consumers for years. Even without the threat of Competition Bureau consequences we work in a very competitive market that necessitates some wheeling and dealing while still requiring a high standard of ethics and service. In a nutshell, some of us really are worth a fee. {/end of well-meaning realtor spam}

 

The fact is I'd rather give a little helpful advice to the limit I'm allowed by law, if only to nudge you in the right direction, than to see any of you get yourselves in a legal jackpot of some kind through inexperience.

 

JF