@@stephenlacher587 as a real estate, professional myself, I can honestly tell you that my last clients purchased their home for $300,000 less than asking price, because of me. So it just depends on your agent. A good agent isworth their weight in gold.
Regarding timing the market: people are always telling me we should sell our house because the market is so hot and we'd get a great price for it. I tell them "Yeah, but then we have to BUY a house in this hot market, and we'd be trading our ridiculously low interest mortgage for another about 3 times higher. Nope." We'll be selling when it makes sense for us to move.
NEVER make a move based on a 'hot' market - only move because you have a strong reason to move. If you have a strong reason, and the finances support the move, then the interest rates becomes a secondary issue. You have the right mindset - move when it makes sense to move 👏🏻
I almost sold, but when I came home after looking at a brand new townhouse and I started balling as soon as I saw my house, I knew selling was not the right thing to do right now! I don't think I will every want to live with shared walls or a HOA again, that too make me hesitate!!
Selling and buying a home are definitely calculated decisions, but decisions that are first led by the heart. I'm glad you listened to your heart before selling!
Thank you for all this useful info on selling our home. My husband is more favor of FSBO and I prefer a licensed and reputable realtor. Ill share this video with him and contact you for a referral down the road when we put our home on the market. Your videos are MUCH appreciated!!🙌
This was a great video. This video alone persuaded me to use a DAMN GOOD AGENT when I sell my home. Thank you very much for sharing. I already hired an inspector to make sure there were no major repairs needed. I do have cosmetic repairs (caulking, hairline cracks due to settlement, painting). This was a huge relief. Getting the home decluttered and ready to sell before hiring an agent is my goal.
How do real estate agents determine the value of a home where there are no comps? I live in a community that sold vacant lots back in the 70s. Each buyer of the lot built a home how they wanted it, so a million dollar home can be next to a lower cost modular home and everything inbetween. My home, for instance, needs a lot of repair but the view of jaw-dropping spectacular. How do you put a price on that?
You'll need to start with a 1 mile radius, then work out from there until you have 3 properties. Focus on similar location, then size and features (lot size, garage, etc). Finding comps is not strictly about finding the exact same house - you want to find properties that are similar then make adjustments to the price to reflect the differences. The adjustment amounts may be tricky to determine without the help of an appraiser (at a fee) or an experienced agent in the area that knows the values.
@@savvyhomesellerThank you for your reply, Jen. Yes, comps here will be difficult as no two homes are the same, plus one has to put a value on the view and landscaping, amount of traffic, privacy, condition of house, amount of acreage and how useable it is. A lot to consider!
Love all your videos Jen, also that you are Massachusetts based like us! Super helpful as we navigated this process as buyers. I am confused by your title... 89% of sellers have regrets about how the sale went down, but they do not regret SELLING their house. Would that be right?
The agents I’ve interviewed have many years experience and have sold in my development. All three have said their commission is 2.5% and that we’d need to discuss the buying agent side. Do I negotiate the listing agent too or just the buyer agent? They all include professional photographers/videos and staging so I’m not sure if it’s appropriate to negotiate the commission on the selling side. 🤷🏻♀️
100% negotiable! They may say "industry standard blah blah" but it is not. I regret every red cent the agents have made on my last two transactions. I may need to sell at a loss (can't believe I'm even saying that), but I REFUSE to use an agent again unless its an out of state investment property situation. G'luck!
Perhaps you’re not sure if it’s appropriate to negotiate the commission on the BUYING side. Just make sure you tell your agent to respond, “We’ll listen to all offers and negotiations.”
You can certainly have the discussion with the listing agent about their fee. However, negotiating with the agent doesn't mean the agent is required to adjust their fee. It's up to each agent to charge what they want to charge, and if you don't want to pay it, you can absolutely work with another agent.
How bizarre that a seller would sell a house and then miss it so much, they buy it again. This is ridiculous. Grow up & stop the attachment to a house.
I understand the attachment. I don't understand the inability to leave it in the past and embrace the future. However, I have never been in a situation where it would be possible for me to buy it back so what do I know?
It's been my experience that 'real estate professionals' are NOT WORTH anywhere near the rates they get paid.
@@stephenlacher587 as a real estate, professional myself, I can honestly tell you that my last clients purchased their home for $300,000 less than asking price, because of me. So it just depends on your agent. A good agent isworth their weight in gold.
@@stephenlacher587 used car salesman
@@stephenlacher587 a few are worth their weight in gold.
Regarding timing the market: people are always telling me we should sell our house because the market is so hot and we'd get a great price for it. I tell them "Yeah, but then we have to BUY a house in this hot market, and we'd be trading our ridiculously low interest mortgage for another about 3 times higher. Nope." We'll be selling when it makes sense for us to move.
People tell me to sell and get an apartment so there's no upkeep.
I say yeah but then I'm paying someone else's mortgage.
@@sparkykitty6870 And THEIR TAXES, and THEIR insurance, which are punitive these days.
NEVER make a move based on a 'hot' market - only move because you have a strong reason to move. If you have a strong reason, and the finances support the move, then the interest rates becomes a secondary issue. You have the right mindset - move when it makes sense to move 👏🏻
The amount of money you'll save on upkeep will not be more than the long term equity gain from value appreciation👍🏻
I almost sold, but when I came home after looking at a brand new townhouse and I started balling as soon as I saw my house, I knew selling was not the right thing to do right now! I don't think I will every want to live with shared walls or a HOA again, that too make me hesitate!!
Selling and buying a home are definitely calculated decisions, but decisions that are first led by the heart. I'm glad you listened to your heart before selling!
I sold my previous house at a loss. I just wanted it gone. I didn't want to be a landlord so It had to go. No regrets!
Asking a real estate agent if you should sell your home is like asking a barber if it’s time for a haircut.
I’ve never regretted selling a house, but I’ve regretted purchasing a couple.
As a reference, remember that wonderful car you sold but regret it, and wish you could drive it again.
Thank you for all this useful info on selling our home. My husband is more favor of FSBO and I prefer a licensed and reputable realtor. Ill share this video with him and contact you for a referral down the road when we put our home on the market. Your videos are MUCH appreciated!!🙌
This was a great video. This video alone persuaded me to use a DAMN GOOD AGENT when I sell my home. Thank you very much for sharing. I already hired an inspector to make sure there were no major repairs needed. I do have cosmetic repairs (caulking, hairline cracks due to settlement, painting). This was a huge relief. Getting the home decluttered and ready to sell before hiring an agent is my goal.
Thanks for sharing - this is awesome to hear!
On my last sale four years ago. It cost me 38,000. No staging was done. I would add about 5 to 10 grand if sold today.
I'm sure people have buyer's remorse also, over priced market
Didn't sell my other house this year. Ended up renting it out instead. Hoping they pay the rent.
This would be much more useful if presented in terms of a percentage of the sale price.
How do real estate agents determine the value of a home where there are no comps? I live in a community that sold vacant lots back in the 70s. Each buyer of the lot built a home how they wanted it, so a million dollar home can be next to a lower cost modular home and everything inbetween. My home, for instance, needs a lot of repair but the view of jaw-dropping spectacular. How do you put a price on that?
You'll need to start with a 1 mile radius, then work out from there until you have 3 properties. Focus on similar location, then size and features (lot size, garage, etc). Finding comps is not strictly about finding the exact same house - you want to find properties that are similar then make adjustments to the price to reflect the differences. The adjustment amounts may be tricky to determine without the help of an appraiser (at a fee) or an experienced agent in the area that knows the values.
@@savvyhomesellerThank you for your reply, Jen. Yes, comps here will be difficult as no two homes are the same, plus one has to put a value on the view and landscaping, amount of traffic, privacy, condition of house, amount of acreage and how useable it is. A lot to consider!
Love all your videos Jen, also that you are Massachusetts based like us! Super helpful as we navigated this process as buyers. I am confused by your title... 89% of sellers have regrets about how the sale went down, but they do not regret SELLING their house. Would that be right?
Thanks for watching! The video is about sellers that sold their home but wish they hadn't.
Great information. Thank you.
Thanks for watching!
The agents I’ve interviewed have many years experience and have sold in my development. All three have said their commission is 2.5% and that we’d need to discuss the buying agent side. Do I negotiate the listing agent too or just the buyer agent? They all include professional photographers/videos and staging so I’m not sure if it’s appropriate to negotiate the commission on the selling side. 🤷🏻♀️
100% negotiable! They may say "industry standard blah blah" but it is not. I regret every red cent the agents have made on my last two transactions. I may need to sell at a loss (can't believe I'm even saying that), but I REFUSE to use an agent again unless its an out of state investment property situation. G'luck!
Perhaps you’re not sure if it’s appropriate to negotiate the commission on the BUYING side. Just make sure you tell your agent to respond, “We’ll listen to all offers and negotiations.”
@@probablynot1368 I’m definitely saying I’m negotiable with the buyers agent. Just not sure if I should negotiate the listing agent.
You can certainly have the discussion with the listing agent about their fee. However, negotiating with the agent doesn't mean the agent is required to adjust their fee. It's up to each agent to charge what they want to charge, and if you don't want to pay it, you can absolutely work with another agent.
You should negotiate with the listing agent IF you don't feel the fee reflects the value and service they are going to provide.
How bizarre that a seller would sell a house and then miss it so much, they buy it again. This is ridiculous. Grow up & stop the attachment to a house.
I understand the attachment. I don't understand the inability to leave it in the past and embrace the future. However, I have never been in a situation where it would be possible for me to buy it back so what do I know?
Okurrrrr😂