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Mar 25th, 2012
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Realtor vs. By Owner? #7223803
07/13/18 07:03 PM
07/13/18 07:03 PM
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alsaenz Offline OP
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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

Last edited by alsaenz; 07/13/18 07:21 PM.
Re: Realtor vs. By Owner? [Re: alsaenz] #7223851
07/13/18 07:59 PM
07/13/18 07:59 PM
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Throckmorton
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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.

Re: Realtor vs. By Owner? [Re: alsaenz] #7223863
07/13/18 08:07 PM
07/13/18 08:07 PM
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Dallas, Texas
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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
matthew@countryconnection.com

Re: Realtor vs. By Owner? [Re: TTT Ranch] #7223871
07/13/18 08:11 PM
07/13/18 08:11 PM
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alsaenz Offline OP
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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.

Re: Realtor vs. By Owner? [Re: Daseke12] #7223876
07/13/18 08:15 PM
07/13/18 08:15 PM
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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?

Re: Realtor vs. By Owner? [Re: alsaenz] #7224213
07/14/18 05:28 AM
07/14/18 05:28 AM
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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.

Re: Realtor vs. By Owner? [Re: alsaenz] #7224264
07/14/18 12:05 PM
07/14/18 12:05 PM
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Yes, Lands of Texas does charge a monthly fee. Around $100 I believe.

Re: Realtor vs. By Owner? [Re: alsaenz] #7224284
07/14/18 12:44 PM
07/14/18 12:44 PM
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North Texas - God's Country
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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
Re: Realtor vs. By Owner? [Re: Txduckman] #7224345
07/14/18 02:14 PM
07/14/18 02:14 PM
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alsaenz Offline OP
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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.

Re: Realtor vs. By Owner? [Re: Cast] #7224349
07/14/18 02:16 PM
07/14/18 02:16 PM
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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.

Re: Realtor vs. By Owner? [Re: TTT Ranch] #7224352
07/14/18 02:17 PM
07/14/18 02:17 PM
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Originally Posted By: TTT Ranch
Yes, Lands of Texas does charge a monthly fee. Around $100 I believe.


Totally worth it, I'll bet.

Re: Realtor vs. By Owner? [Re: alsaenz] #7224359
07/14/18 02:25 PM
07/14/18 02:25 PM
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Wylie, TX
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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
Re: Realtor vs. By Owner? [Re: Judd] #7224396
07/14/18 03:23 PM
07/14/18 03:23 PM
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North Texas - God's Country
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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
Re: Realtor vs. By Owner? [Re: alsaenz] #7224432
07/14/18 04:17 PM
07/14/18 04:17 PM
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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.

Re: Realtor vs. By Owner? [Re: jetdad] #7224725
07/15/18 12:48 AM
07/15/18 12:48 AM
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alsaenz Offline OP
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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.

Re: Realtor vs. By Owner? [Re: alsaenz] #7225067
07/15/18 05:19 PM
07/15/18 05:19 PM
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Miserableplex
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My realtor told me of a property that was for sale by owner. The seller told my realtor he would pay him 3% if he brought him a buyer, which he did.

Re: Realtor vs. By Owner? [Re: alsaenz] #7225169
07/15/18 08:22 PM
07/15/18 08:22 PM
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Sold my ranch in 5 days with no realtor right now its a sellers market, ive done 3 or 4 deals now you really have to be more careful.when buying and ask the right questions.

Re: Realtor vs. By Owner? [Re: sparrish8] #7225865
07/16/18 03:44 PM
07/16/18 03:44 PM
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Originally Posted By: sparrish8
Sold my ranch in 5 days with no realtor right now its a sellers market, ive done 3 or 4 deals now you really have to be more careful.when buying and ask the right questions.


That's encouraging. When you say you have to be more careful, what did you mean?

Re: Realtor vs. By Owner? [Re: alsaenz] #7226255
07/16/18 08:38 PM
07/16/18 08:38 PM
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you can contact me and I can help you answer these questions.


Matthew Daseke
Real Estate Agent
Ranch and Land Division
Dave Perry-Miller Real Estate,
An Ebby Halliday Company
www.countryconnection.com
matthew@countryconnection.com

Re: Realtor vs. By Owner? [Re: alsaenz] #7226630
07/17/18 01:57 AM
07/17/18 01:57 AM
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If you like to gamble, you could always try an Exclusive Agency Listing. You sign with a broker, but you only pay the broker if they bring the buyer to the table. You also still have the opportunity sell it yourself without having to pay your broker.


Originally Posted By: bill oxner
Ever spit it out rather than swallow it?

Originally Posted By: pegasaurus
Enjoy it while you can. One day you might be complaining about NOT getting random pop-ups in the morning. grin
Re: Realtor vs. By Owner? [Re: Daseke12] #7226674
07/17/18 02:41 AM
07/17/18 02:41 AM
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Originally Posted By: Daseke12
you can contact me and I can help you answer these questions.


Thank you. PM sent.

Re: Realtor vs. By Owner? [Re: BigPig] #7226676
07/17/18 02:43 AM
07/17/18 02:43 AM
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Originally Posted By: BigPig
If you like to gamble, you could always try an Exclusive Agency Listing. You sign with a broker, but you only pay the broker if they bring the buyer to the table. You also still have the opportunity sell it yourself without having to pay your broker.


That's a good thought. Would that typically be a 6% commission for them if they did bring someone to the table? What do you see as the gamble?

Re: Realtor vs. By Owner? [Re: alsaenz] #7226758
07/17/18 06:01 AM
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Originally Posted By: alsaenz
Originally Posted By: BigPig
If you like to gamble, you could always try an Exclusive Agency Listing. You sign with a broker, but you only pay the broker if they bring the buyer to the table. You also still have the opportunity sell it yourself without having to pay your broker.


That's a good thought. Would that typically be a 6% commission for them if they did bring someone to the table? What do you see as the gamble?


Well the gamble is that you get exposure through the realtor and if they fund a buyer then you owe them 3% or whatever the agreed upon percentage is. But, if you find the buyer, then you owe the realtor you listed with nothing. You may owe the buyers agent a percentage, but thatís something you need to decide before you list it.

Itís custimary that the seller pays his agent 3% and the buyers agent 3%, but thatís just a regionally accepted percentage. It can be whatever you want it to be.


Originally Posted By: bill oxner
Ever spit it out rather than swallow it?

Originally Posted By: pegasaurus
Enjoy it while you can. One day you might be complaining about NOT getting random pop-ups in the morning. grin
Re: Realtor vs. By Owner? [Re: alsaenz] #7226895
07/17/18 01:12 PM
07/17/18 01:12 PM
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IF you have your place priced right, you will have a buyer within 30 days of listing it on Craigslist, Facebook Market and Texas Hunting Forum. Unless you live miles from your property and don't want to show it, there is no need for an agent. And, the 6% is just the beginning of the "fees". Luckily, I have used corporate reimbursement for all my land and house sales, so it didn't matter to me. After selling 5 houses and 1 property, I have never just paid the 6%....they always find creative ways to charge you more at closing.

Now, to price it correctly. Bring some free coffee to the local appraisal/Assessors office and ask them to give you the last dozen or so places that sold. You should be able to use online maps to view those places vs yours and come up with a good value for your place. If your research shows it is worth $300k and you really want more, don't sell. If you were originally thinking $250k and like what you see, then sell it.

There are very few county offices that won't help you out for free. It really is that easy. It can also be fun.

Re: Realtor vs. By Owner? [Re: alsaenz] #7227080
07/17/18 04:34 PM
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There is a lot of erroneous information on this thread.

If you have never sold a place before my advice would be to hire a experienced LAND broker and let him handle it. So many facets of selling rual land that the common man or agent for thst matter hasnít had experience with. Things that have nothing to do with marketing.

You also leave yourself open to a lot of liability in my opinion selling it yourself.

There is a reason most sellers use a brokerage and donít sell it themselves.

Access issues, minerals, boundary line and survey issues, etc.

Pm me if you have any specific questions



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I think the deer hunting shows and "Bro' Country" are going to be the downfall of this once-great nation.
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