Dirt Merchants - questions about hiring a realtor

[Peruvian]

I'm prepping my home for sale in the next few months. We just hired an inspector who gave us a run down of issues we need to address before listing it. Our next step, after repairs, is whether to hire a realtor. We have bought and sold our own home in the past without a realtor, so I have some questions. We are considering listing FSBO (mostly by using our local network) for a month or so before or hiring anyone to sell it for us. We aren't quite sure what the fair market value of the home is. We know of some comps, but they clearly are not exact matches. As a result, is it appropriate while interviewing potential realtors how much they would list the house for? Seems like a no brainer to me, but Mrs. P thinks it's underhanded. I've told her I'll be up front but she still has an issue with it.

Any house sellers out there that can give me some advice?

[PNWbrit]

Paging oftpiste.

[iceman]

As a result, is it appropriate while interviewing potential realtors how much they would list the house for?

You're missing some word or words in this sentence, are you asking if it's appropriate to ask a realtor what price they feel they can list and sell the house for? If that's what you're asking, absolutely. Like 100%.

[Timberridge]

The mkt is so bad in VT that whatever price they give you, cut it in half.

[DBdude]

not in chittenden county, you know, that part of the state that people actually have jobs. hint hint, it's far from ludlow and to the north once you hit route 7

[RootSkier]

Most real estate agents will give you a market evaluation for free...if you don't plan to use them, tell them what your fucking plan is, most will still do the evaluation for a pretty small fixed-price, especially if they are hoping you use them later if your FSBO efforts fall flat.

Are you planning to offer buyers' agents a commission even if you list FSBO? You should.

But yeah, you aren't going to hire a realtor without agreeing on what the list price is in the first place, so there is no problem discussing it. Just don't be shady.

[Danno]

The mkt is so bad in VT that whatever price they give you, cut it in half.

not in chittenden county, you know, that part of the state that people actually have jobs. hint hint, it's far from ludlow and to the north once you hit route 7

yeah, I am sure the market around Burlington is hopping. But my parents have a place for sale not too far from Ludlow, and they have had to cut the price a number of times. And it's still unsold almost 2 years after listing.

Peruvian's place is more convenient to people with jobs than my parents' place is, so hopefully he'll have less issues.

[Peruvian]

Most real estate agents will give you a market evaluation for free...if you don't plan to use them, tell them what your fucking plan is, most will still do the evaluation for a pretty small fixed-price, especially if they are hoping you use them later if your FSBO efforts fall flat.

Are you planning to offer buyers' agents a commission even if you list FSBO? You should.

But yeah, you aren't going to hire a realtor without agreeing on what the list price is in the first place, so there is no problem discussing it. Just don't be shady.

Not looking to be shady at all. Certainly assuming we will pay 3% buyers' commission if they have a realtor.

[Timberridge]

Ok, then in Chittenden cut it in half, then double it.

[DBdude]

yeah, I am sure the market around Burlington is hopping. But my parents have a place for sale not too far from Ludlow, and they have had to cut the price a number of times. And it's still unsold almost 2 years after listing.

Peruvian's place is more convenient to people with jobs than my parents' place is, so hopefully he'll have less issues.

i am not trying to be mean or a prick. I hope things work out for your parents. It's a fucking dead zone down there for jobs. The closest place to work is rutland... if you head to 91 it would be brattelboro

[Danno]

i am not trying to be mean or a prick. I hope things work out for your parents. It's a fucking dead zone down there for jobs. The closest place to work is rutland... if you head to 91 it would be brattelboro

yeah, the market is pretty much second homes, retirees, or work-at-homes. My folks have a sweet spot, a nice house with hudge views, but it's not realistic for working stiffs when it's 15 minutes to the closest town (Weston) and 20 minutes to the nearest town of any substance (Ludlow).

[Peruvian]

i am not trying to be mean or a prick. I hope things work out for your parents. It's a fucking dead zone down there for jobs. The closest place to work is rutland... if you head to 91 it would be brattelboro

Given your assessment, I'm amazed that any of my friend's and neighbors have any income! What other insightful information can you tell me about my town and residents? Inquiring minds NEED to know.

[DBdude]

yeah - what do they do?

let me guess - school teachers? hmm what else is down there - carpenters? hmmmm people who work in medicine

lets see 7-11?

the vt country store - they are looking for a data analyst, or so I hear - oh wait - they are always looking for a data analyst

bartending/server. i fucked a waitress who worked in ludlow - she moved though

[Self Jupiter]

3% to buyer’s agent? 3% is on the premium end of the range down here in Massholeville. Curious what is commonly paid put up there. Obviously our prices are higher.

What iceman said. I’d be surprised if they asked you to pay for it, IME.

[Timberridge]

yeah, the market is pretty much second homes, retirees, or work-at-homes. My folks have a sweet spot, a nice house with hudge views, but it's not realistic for working stiffs when it's 15 minutes to the closest town (Weston) and 20 minutes to the nearest town of any substance (Ludlow).

Be careful, DaveVT may show up soon, and we'll get into a...ahem...discussion.

3% to buyer’s agent? 3% is on the premium end of the range down here in Massholeville. Curious what is commonly paid put up there. Obviously our prices are higher.

What iceman said. I’d be surprised if they asked you to pay for it, IME.

You'd be surprised what buyers in S. VT ask for. I had one visit the house eight times, ask us to repaint the whole house because they didn't like the color, install new cabinets in the kitchen, pay all the closing costs, and their points. And offer me $100,000 less than asking. It's like a comedy show.

[DBdude]

yeah, the market is pretty much second homes, retirees, or work-at-homes. My folks have a sweet spot, a nice house with hudge views, but it's not realistic for working stiffs when it's 15 minutes to the closest town (Weston) and 20 minutes to the nearest town of any substance (Ludlow).

hour to rutvegas... i don't think an hour is out of hand... it is not every bodies cup of tea to drive an hour back and forth

[DBdude]

You'd be surprised what buyers in S. VT ask for. I had one visit the house eight times, ask us to repaint the whole house because they didn't like the color, install new cabinets in the kitchen, pay all the closing costs, and their points. And offer me $100,000 less than asking. It's like a comedy show.

oye - but that was a little further to the west? no? it is even more dead over there... a friend sold a house in rupert - it took forever

[Timberridge]

hour to rutvegas... i don't think an hour is out of hand... it is not every bodies cup of tea to drive an hour back and forth

Especially for a job that pays $57,513/yr.

[DBdude]

vermont is tough

[Timberridge]

oye - but that was a little further to the west? no? it is even more dead over there... a friend sold a house in rupert - it took forever

Yes, more west, maybe other side of 11/30 where Peru is, is better idk.

Good luck Peruvian. I hope it sells and you get what you want or close to it.

It's just been an adventure for us, really. I'm not dying to sell, and so not interested in lowball offers. I'll keep it for another 15 years if no buyer comes along.

[Kenny Satch]

FSBO can work but you need to know your market along with how and what to say when it counts. Knowing how to convince a buyer to agree to your price takes skill and patience. People have a tendency to spill their guts especially if you like them and yet if you seem too unresponsive or cold you could come across like you're hiding something. It's a fine line. Besides most FSBO buyers will lowball and even if it's priced right they usually want a 5% discount because no Realtor is involved. Funny how that works.

Social media and the Internet should've killed the real estate industry existence and yet it's still thriving. That's because they're the middle person that can manipulate and control negotiations to favour you. As an example they also help and convince buyers to continue with a transaction even when an inept Inspector screws it up or a family member tries to talk them out of it. It can take one thing said wrong or misunderstood to turn off a buyer.

That's just a few things to consider. Good luck

[Peruvian]

yeah - what do they do?

let me guess - school teachers? hmm what else is down there - carpenters? hmmmm people who work in medicine

lets see 7-11?

the vt country store - they are looking for a data analyst, or so I hear - oh wait - they are always looking for a data analyst

bartending/server. i fucked a waitress who worked in ludlow - she moved though

They do all the jobs that folks everywhere do - shop keepers, manufacturers, landscapers, salesmen, IT professionals, marketing professionals, actors, and even some realtors.

[Peruvian]

Be careful, DaveVT may show up soon, and we'll get into a...ahem...discussion.



You'd be surprised what buyers in S. VT ask for. I had one visit the house eight times, ask us to repaint the whole house because they didn't like the color, install new cabinets in the kitchen, pay all the closing costs, and their points. And offer me $100,000 less than asking. It's like a comedy show.

Im curious if that buyer was a full timer. I hear lots of stories of folks on vacation that decide to kick the tires while visiting and then throw low ball offers out hoping to bottom feed.

[Rideski]

Do make sure you get that paint color and cabinetry just right.

[AdironRider]

As far as I can tell buyers / sellers of the millennial persuasion aren't really playing the 6% (3/3 split) commission game as much these days, given they have pretty much done all the research themselves online before they ever get a realtor involved. The last place I bought (3.5 years ago in a hot market) was 4%, and that took literally zero effort to get by the seller really.

I always thought FSBO was basically saying, "I'll only sell if you hit my number, all cash". But it is also the only way I hear about true deals, where the seller doesn't know what they have.

Vermont sounds like a tough market. I'll admit I've been kicking tires myself my last few trips home and properties are just plain sitting, regardless of price or price reduction. Most of the inventory is the same whenever I get back east to look it feels like. I'm also looking at land in the NEK / Littleton NH area and not houses so different strokes really. On the flip side the same folks looking to sell all seem to not be desperate either. Lots of older folks with no real rush to sell IME. It is a weird market where everyone thinks it is worth more than it is despite zero demand.

If I hear one more realtor tell me about how awesome growing hemp will be I might just quit the search though. I assume those are the only other folks buying right now so maybe market it that way if you got a few acres.