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#7223803 - 07/13/18 02:03 PM Realtor vs. By Owner?
alsaenz Offline
Woodsman

Registered: 02/17/15
Posts: 100
Hello folks,

I'm considering selling my place, and am wondering if anyone has any input about the pros and cons of using an agent versus by owner. I found the place on craigslist, of all places, and bought it with no realtors involved.

For what it matters, the place is 114 acres with 3/2 brick house gutted and restored; 2 hay barns, 1 acre stocked/spring-fed pond and a 600 square foot shop). Abundant game (White tail, hogs, dove). 60 acres in hay production for ag-exemption and 55 is wooded. Also, I want to do a "walk-away" deal, meaning, I want the sale to include the tractor/implements, buggy, and a few other titled vehicles that I won't have space to store.

Any feedback is appreciated.

Thanks,

Adam


Edited by alsaenz (07/13/18 02:21 PM)

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#7223851 - 07/13/18 02:59 PM Re: Realtor vs. By Owner? [Re: alsaenz]
TTT Ranch Online   content
Tracker

Registered: 12/07/06
Posts: 718
Loc: Throckmorton
I sold 355 acres in Eastland County about 6 months ago without using a realtor. Just post it yourself on Lands of Texas and be willing to show it when necessary. Pretty easy and youíll save a bundle in broker commissions. A good percentage of buyers donít have representation so you have a good chance of paying zero broker commissions.

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#7223863 - 07/13/18 03:07 PM Re: Realtor vs. By Owner? [Re: alsaenz]
Daseke12 Offline
Green Horn

Registered: 07/09/18
Posts: 5
Loc: Dallas, Texas
Hello,

I would say the biggest difference is marketing. As an agent our firm would obviously market the property for you. However, the con to that approach is you pay a commission. Also for all of the equipment there is a specific section in the farm and ranch contract to include all of your equipment with the sale. I would also say a pro to the situation is you have someone representing you to talk with the other agent representing the buyer which generally makes coming to a agreement somewhat easier. It's somewhat of a tug and pull system I'd say, but using a agent makes your work less of an issue.
_________________________
Matthew Daseke
Real Estate Agent
Ranch and Land Division
Dave Perry-Miller Real Estate,
An Ebby Halliday Company
www.countryconnection.com



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#7223871 - 07/13/18 03:11 PM Re: Realtor vs. By Owner? [Re: TTT Ranch]
alsaenz Offline
Woodsman

Registered: 02/17/15
Posts: 100
Originally Posted By: TTT Ranch
I sold 355 acres in Eastland County about 6 months ago without using a realtor. Just post it yourself on Lands of Texas and be willing to show it when necessary. Pretty easy and youíll save a bundle in broker commissions. A good percentage of buyers donít have representation so you have a good chance of paying zero broker commissions.


Thanks, TTT Ranch. I remember spending hours on the Lands of Texas site before I found my property. Do they charge a listing fee? That was kind of the direction I was leaning toward.

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#7223876 - 07/13/18 03:15 PM Re: Realtor vs. By Owner? [Re: Daseke12]
alsaenz Offline
Woodsman

Registered: 02/17/15
Posts: 100
Originally Posted By: Daseke12
Hello,

I would say the biggest difference is marketing. As an agent our firm would obviously market the property for you. However, the con to that approach is you pay a commission. Also for all of the equipment there is a specific section in the farm and ranch contract to include all of your equipment with the sale. I would also say a pro to the situation is you have someone representing you to talk with the other agent representing the buyer which generally makes coming to a agreement somewhat easier. It's somewhat of a tug and pull system I'd say, but using a agent makes your work less of an issue.


Thank you, Daseke12. Is the standard commission 6%? And when you list the equipment in the contract, do you include that in the sales price, or is that a separate transaction? I'm wondering how a potential buyer's lender would negotiate the discrepancy between the land/house market value and a higher sale price that would account for machinery?

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#7224213 - 07/14/18 12:28 AM Re: Realtor vs. By Owner? [Re: alsaenz]
Txduckman Online   content
THF Celebrity

Registered: 08/30/04
Posts: 13398
Loc: Big D
What county and direction from town? Some places are highly sought after and some sit on market for years regardless if you have a realtor or not. Guys up road been on market 6 years now. Our place would sell in no time. Sounds like you might be in a great area if you bought it recently.

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#7224264 - 07/14/18 07:05 AM Re: Realtor vs. By Owner? [Re: alsaenz]
TTT Ranch Online   content
Tracker

Registered: 12/07/06
Posts: 718
Loc: Throckmorton
Yes, Lands of Texas does charge a monthly fee. Around $100 I believe.

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#7224284 - 07/14/18 07:44 AM Re: Realtor vs. By Owner? [Re: alsaenz]
Cast Offline
THF Celebrity

Registered: 12/14/08
Posts: 18335
Loc: North Texas - God's Country
After twenty years in the title business I will never trust, hire or believe a real estate agent. That is all.
_________________________
Cast



I have a short attention spa

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#7224345 - 07/14/18 09:14 AM Re: Realtor vs. By Owner? [Re: Txduckman]
alsaenz Offline
Woodsman

Registered: 02/17/15
Posts: 100
Originally Posted By: Txduckman
What county and direction from town? Some places are highly sought after and some sit on market for years regardless if you have a realtor or not. Guys up road been on market 6 years now. Our place would sell in no time. Sounds like you might be in a great area if you bought it recently.


We're in the south east corner of Leon County near Hilltop Lakes. About 45-minutes from College Station. I'm hoping that the relative proximity might be attractive to a former student, etc.

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#7224349 - 07/14/18 09:16 AM Re: Realtor vs. By Owner? [Re: Cast]
alsaenz Offline
Woodsman

Registered: 02/17/15
Posts: 100
Originally Posted By: Cast
After twenty years in the title business I will never trust, hire or believe a real estate agent. That is all.


Good to know. Thank you, Cast. Interesting you should say that--the gentleman I bought the place from had the same opinion. I've been really grateful for the agents I've used for rental properties in town, but I'm just wondering if rural land sales is a different animal that doesn't really require an agent. I'm hearing several votes against. Appreciate the feedback.

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#7224352 - 07/14/18 09:17 AM Re: Realtor vs. By Owner? [Re: TTT Ranch]
alsaenz Offline
Woodsman

Registered: 02/17/15
Posts: 100
Originally Posted By: TTT Ranch
Yes, Lands of Texas does charge a monthly fee. Around $100 I believe.


Totally worth it, I'll bet.

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#7224359 - 07/14/18 09:25 AM Re: Realtor vs. By Owner? [Re: alsaenz]
Judd Online   content


Registered: 01/22/09
Posts: 11938
Loc: Wylie, TX
There are good and bad folks in life. Realtors are no different.

We recently sold our house and we were looking for over a year both for new and the market for ours. I'd like to think I was very in tune as to what was going on. We found a house and our offer was finally the one picked (nature of the market in North Texas)...we moved and sat down with the realtor to get ours sold.

They point blank asked me what I thought we should list ours at. I gave them the numbers and provided 4 comps that recently sold in our neighborhood. They said their comps were very similar but they thought they could get more and asked if I'd let them list it 10k higher than what I said. I told them if they thought it would sell there and we'd get offers...let's go. They did and 3 days later I'm signing an offer that was full ask with very little requests. Shocking part is it appraised, still not sure how that was pulled off.

Long story but my point is they earned their money and messed with stuff I didn't have too, like staging, negotiating the deal, etc. A good realtor is worth what you pay him and a bad one sucks...just like everything else.

I will say the folks we had the hardest time with in our two deals was title. That wasn't a shot at Cast as he appears on this forum to be a good dude, just stating my experience. TRID disclosures suck and I know the regulations more than the average Joe and it appears there are a ton of title and lenders that view those as guidelines versus regulations frown
_________________________
Originally Posted By: Phil Robertson
Don't let your ears hear what your eyes didn't see, and don't let your mouth say what your heart doesn't feel

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#7224396 - 07/14/18 10:23 AM Re: Realtor vs. By Owner? [Re: Judd]
Cast Offline
THF Celebrity

Registered: 12/14/08
Posts: 18335
Loc: North Texas - God's Country
Originally Posted By: Judd
There are good and bad folks in life. Realtors are no different.

We recently sold our house and we were looking for over a year both for new and the market for ours. I'd like to think I was very in tune as to what was going on. We found a house and our offer was finally the one picked (nature of the market in North Texas)...we moved and sat down with the realtor to get ours sold.

They point blank asked me what I thought we should list ours at. I gave them the numbers and provided 4 comps that recently sold in our neighborhood. They said their comps were very similar but they thought they could get more and asked if I'd let them list it 10k higher than what I said. I told them if they thought it would sell there and we'd get offers...let's go. They did and 3 days later I'm signing an offer that was full ask with very little requests. Shocking part is it appraised, still not sure how that was pulled off.

Long story but my point is they earned their money and messed with stuff I didn't have too, like staging, negotiating the deal, etc. A good realtor is worth what you pay him and a bad one sucks...just like everything else.

I will say the folks we had the hardest time with in our two deals was title. That wasn't a shot at Cast as he appears on this forum to be a good dude, just stating my experience. TRID disclosures suck and I know the regulations more than the average Joe and it appears there are a ton of title and lenders that view those as guidelines versus regulations frown


Well, after twenty years in the title business I would never hire a title company either. Both realtors and title companies sell publicly available data at high prices.

If I had to have title insurance I would be very careful who I hired to do my research. It is my experience that most title companies are simple rip off scams.
_________________________
Cast



I have a short attention spa

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#7224432 - 07/14/18 11:17 AM Re: Realtor vs. By Owner? [Re: alsaenz]
jetdad Offline
Pro Tracker

Registered: 03/02/13
Posts: 1222
Loc: Grayson county
Talk to your neighbors first. See if they have an interest. my neighbor wanted to sell his place and I suggested he talk to one of our other neighbors. He closed in three weeks. His equipment, furnishings and four wheeler was included.

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#7224725 - 07/14/18 07:48 PM Re: Realtor vs. By Owner? [Re: jetdad]
alsaenz Offline
Woodsman

Registered: 02/17/15
Posts: 100
Originally Posted By: jetdad
Talk to your neighbors first. See if they have an interest. my neighbor wanted to sell his place and I suggested he talk to one of our other neighbors. He closed in three weeks. His equipment, furnishings and four wheeler was included.


Excellent idea. Thanks. Just texted two of them.

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