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Re: REALTOR Recommendations
[Re: jcarring99]
#8603162
05/23/22 01:32 AM
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Joined: Aug 2009
Posts: 22,716
BigPig
THF Celebrity
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Posts: 22,716 |
It’s funny that so many people say you don’t need a realtor to sell your home. Hell, you don’t need a plumber to repair broken sewer lines, or an electrician to rewire a house, don’t really need a roofer to replace shingles after a storm, you probably don’t need a dentist to pull your tooth, and nobody talks about how much those professions make. In the grand scheme of things, paying a realtor saves you the headache of showings, dealing with a buyer that wants to back out, or can’t secure financing, or demands everything on the inspection report be fixed. What’s even more fun is when they offer XXX over asking and then the home doesn’t appraise for that price. A title company won’t help you with those issues, that not their forte and not what they are being paid to handle.
There was approximately 112,000 homes sold in DFW last year. Approximately 45,000 of those were new construction. Let’s take a half those and say 22,000 didn’t use a realtor for those homes. So that leaves 90,000 homes sold by roughly 25,000 DFW area realtors. That’s 3.6 homes on average. The average price per home last year was around $400,000 and 3% of that goes to the brokerage, so $12,000, and then the broker gets his cut and the realtor gets theirs. Let’s say the realtor gets 100% of the $12,000, times 3.6 homes, that’s a whopping $43,200. So to erroneously say 3% is too much, or realtors make too much money, you need to consider that they also are self employed and have to pay for fuel, health insurance, association dues, advertising, and all the other unseen charges that go along with selling homes.
There are cheap realtors that aren’t good, there are good realtors that aren’t cheap.
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Re: REALTOR Recommendations
[Re: BigPig]
#8603174
05/23/22 01:49 AM
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Joined: Oct 2004
Posts: 22,441
Superduty
"The Regulator"
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"The Regulator"
Joined: Oct 2004
Posts: 22,441 |
It’s funny that so many people say you don’t need a realtor to sell your home. Hell, you don’t need a plumber to repair broken sewer lines, or an electrician to rewire a house, don’t really need a roofer to replace shingles after a storm, you probably don’t need a dentist to pull your tooth, and nobody talks about how much those professions make. In the grand scheme of things, paying a realtor saves you the headache of showings, dealing with a buyer that wants to back out, or can’t secure financing, or demands everything on the inspection report be fixed. What’s even more fun is when they offer XXX over asking and then the home doesn’t appraise for that price. A title company won’t help you with those issues, that not their forte and not what they are being paid to handle.
There was approximately 112,000 homes sold in DFW last year. Approximately 45,000 of those were new construction. Let’s take a half those and say 22,000 didn’t use a realtor for those homes. So that leaves 90,000 homes sold by roughly 25,000 DFW area realtors. That’s 3.6 homes on average. The average price per home last year was around $400,000 and 3% of that goes to the brokerage, so $12,000, and then the broker gets his cut and the realtor gets theirs. Let’s say the realtor gets 100% of the $12,000, times 3.6 homes, that’s a whopping $43,200. So to erroneously say 3% is too much, or realtors make too much money, you need to consider that they also are self employed and have to pay for fuel, health insurance, association dues, advertising, and all the other unseen charges that go along with selling homes.
There are cheap realtors that aren’t good, there are good realtors that aren’t cheap. Guess I lost my referral bonus....
'It's Only Treason if You Lose."
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Re: REALTOR Recommendations
[Re: TexFlip]
#8603176
05/23/22 01:50 AM
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Joined: Oct 2004
Posts: 22,441
Superduty
"The Regulator"
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"The Regulator"
Joined: Oct 2004
Posts: 22,441 |
You and Shane are neighbors. Yes, less than a mile.
'It's Only Treason if You Lose."
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Re: REALTOR Recommendations
[Re: jcarring99]
#8603182
05/23/22 01:59 AM
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Joined: Sep 2004
Posts: 10,845
DannyB
THF Celebrity
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Posts: 10,845 |
Yeah, and I'm sure Metrotex needs that multi-million dollar office building. Insert sarcasm. I imagine dues are going up.
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Re: REALTOR Recommendations
[Re: jcarring99]
#8603226
05/23/22 03:40 AM
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Joined: Oct 2004
Posts: 22,441
Superduty
"The Regulator"
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"The Regulator"
Joined: Oct 2004
Posts: 22,441 |
You can do it easily without a realtor. Ask what you want for sale price, I'm not giving anyone 12-15k, to a realtor period! Who cares what comps or appraiser says. Just tell buyer you don't have to sell and he/she has to come up with difference to buy, if they back out just wait, a Kalifornia buyer will be along shortly.
Trust me.
No staging, meeting people during odd hours, it's a: cake walk. You negotiate and be honest. The buyer will do what it takes to get a home in your neighborhood, trust me I know.
Last edited by Superduty; 05/23/22 03:42 AM.
'It's Only Treason if You Lose."
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Re: REALTOR Recommendations
[Re: Superduty]
#8603233
05/23/22 04:02 AM
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Joined: Jun 2008
Posts: 765
jcarring99
OP
Tracker
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Joined: Jun 2008
Posts: 765 |
You can do it easily without a realtor. Ask what you want for sale price, I'm not giving anyone 12-15k, to a realtor period! Who cares what comps or appraiser says. Just tell buyer you don't have to sell and he/she has to come up with difference to buy, if they back out just wait, a Kalifornia buyer will be along shortly.
Trust me.
No staging, meeting people during odd hours, it's a: cake walk. You negotiate and be honest. The buyer will do what it takes to get a home in your neighborhood, trust me I know. where is the like button lol
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Re: REALTOR Recommendations
[Re: TexFlip]
#8603236
05/23/22 04:08 AM
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Joined: Aug 2009
Posts: 22,716
BigPig
THF Celebrity
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THF Celebrity
Joined: Aug 2009
Posts: 22,716 |
Waterfront, pool, about 1000sqft bigger closed at $625k less than a month ago. Less than a mile away. Might want to have a pro run your comps. If you’re talking about the home on Westwood, it didn’t sell for $625,000, that was list price, it also didn’t sell for above list price, it sold for $590,000.
Last edited by BigPig; 05/23/22 04:09 AM.
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Re: REALTOR Recommendations
[Re: ntxtrapper]
#8603239
05/23/22 04:24 AM
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Joined: Sep 2004
Posts: 12,416
RedRanger
THF Celebrity
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Posts: 12,416 |
Pay the 6% and the right realtor will make you more money in the long run than trying to do it yourself. I agree 100% especially in this market Probably get the seller 100K over asking price
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Re: REALTOR Recommendations
[Re: Superduty]
#8603240
05/23/22 04:25 AM
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Joined: Sep 2004
Posts: 12,416
RedRanger
THF Celebrity
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Joined: Sep 2004
Posts: 12,416 |
I have sold 3 homes by myself. It's easy. The way the market is and our neighborhood your at more of an advantage than ever, make the showings on your time and the buyer also will do all of the paperwork.
Just go to Lowes and buy a for sale sign and put your cell phone on the sign and put it in front yard. It will spread like wildfire and sell.
It is truly that easy. Hell, it's real easy when you sell them below market price.......
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Re: REALTOR Recommendations
[Re: TexFlip]
#8603242
05/23/22 04:26 AM
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Joined: Dec 2010
Posts: 8,841
DocHorton
THF Trophy Hunter
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Joined: Dec 2010
Posts: 8,841 |
Waterfront, pool, about 1000sqft bigger closed at $625k less than a month ago. Less than a mile away. Might want to have a pro run your comps. At my last house there was a $50-100 psf difference between our neighborhood and the one right next to it. Schools, neighborhood demographics, traffic flow, etc. can make a pretty big difference....not to mention age, finish out, floor plan, or if it's been remodeled.
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Re: REALTOR Recommendations
[Re: jcarring99]
#8603243
05/23/22 04:27 AM
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Joined: Dec 2010
Posts: 8,841
DocHorton
THF Trophy Hunter
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Joined: Dec 2010
Posts: 8,841 |
There are definitely pros and cons to each. I will say this, if you are not willing to pay a realtor a commission for bringing you a buyer then you will reduce your buyer pool because they aren't going to show your house. Also, some buyers do not want to negotiate or deal directly with the seller, and it makes it more difficult if they are out of town. So if you decide to go that route, I would strongly consider paying a commission to the buyers rep.
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Re: REALTOR Recommendations
[Re: jcarring99]
#8603246
05/23/22 04:31 AM
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Joined: Jul 2015
Posts: 23,176
Bee'z
The Beedazzler
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The Beedazzler
Joined: Jul 2015
Posts: 23,176 |
Sounds like we will have more cali voters in Arlington soon lol. Ain't a knowledgeable Texan that would pay close to that
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Re: REALTOR Recommendations
[Re: jcarring99]
#8603265
05/23/22 09:37 AM
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Joined: Aug 2012
Posts: 15,566
TexFlip
THF Celebrity
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THF Celebrity
Joined: Aug 2012
Posts: 15,566 |
Waterfront, pool, about 1000sqft bigger closed at $625k less than a month ago. Less than a mile away. Might want to have a pro run your comps. If you’re talking about the home on Westwood, it didn’t sell for $625,000, that was list price, it also didn’t sell for above list price, it sold for $590,000. I don't have access to the Dallas MLS so I erred on the high side.
Just to make sure that it is done thoroughly, I go both ways.
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Re: REALTOR Recommendations
[Re: jcarring99]
#8603267
05/23/22 10:14 AM
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Joined: Jul 2019
Posts: 14,203
Hudbone
THF Celebrity
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Joined: Jul 2019
Posts: 14,203 |
If being a realtor is so easy, they don't have to do nothing and they get so over paid, why you be in the roofing business? Maybe you missed your mark.
Have done a lil' bit with R/E over the years. Have purchased without a realtor, but never sold without one. I would think about it if knowing the purchaser or if I were to solicit the purchaser, but would never do one on an arm's length transaction where I do not know the people.
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Re: REALTOR Recommendations
[Re: Hudbone]
#8603293
05/23/22 11:47 AM
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Joined: Jun 2008
Posts: 765
jcarring99
OP
Tracker
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Joined: Jun 2008
Posts: 765 |
If being a realtor is so easy, they don't have to do nothing and they get so over paid, why you be in the roofing business? Maybe you missed your mark.
Have done a lil' bit with R/E over the years. Have purchased without a realtor, but never sold without one. I would think about it if knowing the purchaser or if I were to solicit the purchaser, but would never do one on an arm's length transaction where I do not know the people. I'm not disparaging Realtors in the least. I was loan consultant at one time and know full well the value of Realtors. That's why my first inclination was to use one. I'm just like anyone else though. I want to maximize my profit as much as possible. I mean for me this is probably my last chance at making some decent money on a house sale and I'm like most people I want to maximize my profit for retirement. This is a different market than one we have ever been used to. I have a lot of considerations going on in my mind. Thinking that realtors are overpaid isn't one of them.
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Re: REALTOR Recommendations
[Re: jcarring99]
#8603334
05/23/22 12:30 PM
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Joined: Jul 2019
Posts: 14,203
Hudbone
THF Celebrity
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THF Celebrity
Joined: Jul 2019
Posts: 14,203 |
I get it. This is where people get themselves into trouble - "I want to maximize my profit as much as possible". From here, we like to secure gains and move forward. Trying to eke out tens of thousands when hundreds of thousands are "at risk" is where I do not want to go. Pigs get fat and hogs get slaughtered comes to mind.
We sold our home this past October. First time to sell our primary residence in 25 years. It's a sizzling hot market down here in New Braunfels. Even so, there was no thought of doing it ourselves and the amount to be paid to realtors was easily in excess of what you are looking at. Some of the things the realtor was concerned with were of lil' concern here or not even seen at all. She had reasons for her concerns and I was good with it all. She was doing what she was supposed to do - something I had no idea about. I also didn't have to concern myself with it.
Just be comfortable with what you do. It's just thoughts here.
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