LISTING YOUR PROPERTY FOR SALE,

Now I can do that myself for 3 to 5 hundred, and it won't cost me thousands to sell, and when they say, if the price is low enough, why would I want to sell below market, just to make a realtor rich.

Realtor's Love Dumb property owners....

If a property doesn't sell in 3 - 6 months, the asking price is higher than present market value. Nothing complicated about that. If you want to ask higher than market value, you can sit around for a few years or more, keep paying taxes, insurance, and upkeep, and see what happens.

5% is relatively low. Many won't list your land for less than 8% or 10% - but it's up to you to negotiate. Bare land is tougher to finance, sell and show, so the % is usually higher.

You say you can do all this yourself? If so, why did you even talk to a real estate person? I've done it both ways, and there certainly are advantages to using a good real estate salemsan, sales woman, or sales-inbetween?. Some potential buyers won't even speak to owners trying to sell on their own. You can also waste an awful lot of time showing your property to deadbeats who are not qualified to buy. There is also a lot to know about proper legal procedure to protect both the buyer and seller, along the way.

I learned many years ago, that when you see land "for sale by owner", you'd better watch out. It's a bargain sometimes (rarely), but more times than not, private sellers are asking rediculous prices way above market value, that no credible real estate person would waste any time on, listing.

Like any other profession, some real estate people are very skilled and worth hiring. Others are incompetent and idiots.

Remember, when you sign a listing agreement, it is a legal contract - and you can customize the agreement before you sign it. Many "standard form" listing contracts come three ways.

EXCLUSIVE RIGHT TO SELL means that no matter who sells your land, the real estate person gets the commission.

EXCLUSIVE AGENCY meanst that the real estate person only gets the money if he/she actuall found the buyer. This retains the right for you to sell on your own and NOT pay the real estate person a dime.

It looks like you haven't read a realtor's contract, in it it says, you can cancel any time for good reason.

I do not show high cost property to anyone who do not qualify, that's a no brainer, I simply ask for a letter from their bank as to qualifications of purchase, that weeds out the dead beat sight seers...

Thanks for your input,, we can always learn from each other ... and that's a plus ...

www.realtor.org/

On the other hand, most states require a person to pass a test and get licensed to sell real estate under a licensed broker. Or, if selling alone, the person needs a state broker's license. That is a person with a real estate license, NOT a Realtor. A Realtor can be licensed by the state, but having a state license does NOT make a person a Realtor. Many people involved in real estate are NOT Realtors�.

In regard to me not reading a real estate contracts? I've read hundreds, perhaps more. I was licensed in the state of New York as a real estate salesman/agent for years. Also worked as a title searcher/abstracter. I also do the web-advertising for two real estate companies and a state licensed broker, and have also written many listing and purchase contracts. If anything, I'm well versed on the subject. At least for New York, New Jersey, and Michigan laws.

YOU SAY<, a Realtor with a Realtor License is not a Realtor,, (( PLEASE TELL ME, what is he/she being Licensed as a Realtor ????? ?))

Each States has their Laws,

That is NOT what I said, you know it, and it's right there in digital print and is easy to verify. You are putting "words in my mouth."

REALTOR is a brand-name, just like John Deere, Ford and Chevy are brand names.

Ford and Chevy both must pass EPA and safety regulations to legally sell cars and trucks - but . . . that does not mean anybody else selling a car or truck has to be a Ford or a Chevy.

REALTOR is simply a registered brand name for a company. There are others, and nobody has to join. But, in most states, anybody, regardless of what they call themselves, must get a state license to sell real estate they don't own if getting paid for it. So, that includes somebody calling themselves a REALTOR along with everybody else. Joe Blow can call his company JOE BLOW PROPERTIES, and in most states he must get licensed. That does NOT make him a REALTOR.
If Joe Blow decides to join that particular club, then he IS a REALTOR and it has nothing to do with the state of Minnesota.

The State of Minnesota uses the legal term of REAL ESTATE SALESPERSON and REAL ESTATE BROKER. Nothing for the brand-name REALTOR.

I just got done reading through all the Minnesota Statues that apply to real estate sales, and they are pretty much exactly what New York uses.

Abstracter
Broker
Campground Agent
Closing Agent
Limited Broker
Real Estate Company
Salesperson

But no "Realtor". Like JD said, Realtor is an organization, not a license. One can be a licensed real estate agent in any state without being a Realtor. I'm not familiar with the requirements be a Realtor, but I would imagine that all Realtors must first be licensed real estate agents.

• Minnesota real estate licenses

My guess is the realtor was getting a kickback from the mortgage broker, and wasn't looking out for my interests. Now I know better than to trust the realtor.

Depending on where you live, the MLS listing may be very valuable. If there are companies nearby that transfer employees, many times the people being transfered will look at listed houses before they arrive in the new town. For sale by owner will only be seen by people who are local.

If we were trying to sell, the only people who would see our property FSBO would be people looking for a house in our county. If listed in MLS, anybody transferring to Cincinnati would see our listing. A much greater chance that someone would see the listing and love it.

3. Older Couple wish to scale down, this way:

Ask 3 times more than YOU ever expect to get.
"Just pay me monthly, now. I am in no hurry.
After I find a place I want, keep paying me monthly.

Works for me.

John,PA I charge NO interest!

Your ego can cost you a lot of money when you think you know everything and no one else knows anything. BTDT.

You might ask your banker what property is actually selling for. There has to be someone you can trust that would know. Overeager real estate agents and nosy neighbors may not be reliable.

Muhammad Ali had the advice business figured out. Ali had obviously seen a lot of fighters make a lot of money but end up broke. He said that when he was working with someone that only made money when he (Ali) made money things came out better.

The home we have, it's in a TOP Prime location, the same home in some parts with junky neighbors would be much less in value.

people keep telling me == you can buy a house anyplace, but Location = Location = Location, is the key, same with a business.

I did the for sale by owner thing on my father inlaws place. NEVER AGAIN will i do that. Phones calls in the middle of the night, people showing up walking through the place saying what a dump it was, or people not show up or your asking to much, or they want to buy it and you spend the time getting paperwork and contract ready only to have them say oh we found something else. Or the best thing is you have someone want to buy it, put a contract on it (you spend the time) only to find out they arent qualified. I could go on and on. It was the worst 2 months of my life.

Finally I talked to my brother who is a contractor and I used his realtor to list the property.She sold it within 3 weeks. All i had to do was show up at the closing with my Wife. One thing that i learned is a Realtor will not even give a For Sale by Owner property the time of day.

A Good Realtor puts up with all this Bull Sh!t so you dont have too. They also work with other realtors in listing and showing the property. Hold the open houses, work with getting potential buyers prequalified before putting a contract on the place. Lines up Home Inspectors, Termite etc (thats here in Virginia).

A good realtor will know who's buying and who's wasting people's time. If you have Annie Homemaker who sells houses part time to get out of the house its a waste of money - she's doing what you could do for yourself.

If you have a real mover and shaker he'll have a list of potential buyers that will make it happen. A sales person's value is in who they know - not in what they sell. My brother in law is constantly making connections as a salesman for John Deere. Someone will trade a combine and he'll have several more sales and trades lined up knowing who's looking for exactly that combine and who will want what they are trading. Its not uncommon for him to make three deals in a day all based off an one big sale coming togather that morning. Guys think they got "shorted" when they learn their trade was sold when it hit the lot. Problem is they could never have made the connection with the guy three counties over who wants to trade a grain cart.

Craigslist is good for somethings but if you are listing a $600,000 peice of property before the $800 trailer house and after the time share property offered by the Libyans wanting a cashiers check you'll be judged by the company you keep.

You got that right Joe!! The agents will give you 300 reasons why you need them and all their buddies in the business to sell your property but the truth of the matter (at least in Ohio) is you can still transfer a property with only a recordable agreement between the current owner and proposed purchaser assuming there are no liens involved. Last time I bought a property the total closing costs were less than $100 for a lawyer type to witness the actual transaction.

Charles