Former bartender, cow-milker, globe-trekker, marketing manager, conultant and more turned real estate coach 2.0. I focus on bringing the best of technology and branding to agents across the country.
Wow... that's about as far as I can get after reading Dr. Babb's article and a number of the supporting pieces here. Right... go to Zillow (www.zillow), get a Zestimate (20%+/- in Chicago for accuracy), and then throw your home on the market. Forget the fact that you're overpriced and that most of the activity will come on your home in the first 30 days... spend your beautiful spring days sitting open houses, following up with Realtors (if the return your calls being a FSBO), and wonder why no one has an offer on your home. Offer (or don't offer) a buy-side commission and then you're tacking on 2.5 - 3% for the buyers agent... That's right... PAY a skilled negotiator to go into monetary battle against you. Then learn all about the disclosures and how to write and read a contract in the hopes that you get an offer. (Or forget the disclosures and get sued... whatever floats your boat) Go to Zillow again, fudge the numbers, find out your overpriced, drop it below where you should be, and then get an offer from an experienced agent (see part about negotiating against someone that does this for a living above... While you're at it... go fight Mike Tyson). "Decide" on a price, then write up a contract, contact an attorney, schedule the closing, go through the final walk through, negotiate some more, blah... blah... blah..." This post only once again reaffirms the ignorance that surrounds the job of the Realtor. Unfortunately it comes from someone within the organization that only futhers it. I guess this only gets messier when Dani, in a Today Show interview, states that she quit her corporate America job 2.5 years ago (interview published 2/25/08) to start an online business business. Did you really spend alot of time working with sellers then in a "normal" market or when they were standing in line to buy things? Honestly I did alot of research before posting things as I don't know much about the Doctor, but unfortunately I don't think the general public will. I rank this information right up with the S&P Case-Shiller report for accuracey and "general" overview of a market based on regions. (The Case Shiller report only takes Single Family residences that have been sold at least 2x into account for their survey) But that's just my 2 cents Matthew Dollinger Performance Coach www.theyoufactor.com @properties, Chicago IL
I guess I have to eat crow after better researching the report and seeing that Chicago is "technically" according to their statistics DOWN 2.2%. This totally blew me away until I read further into the report and found how they actually pulled the data. According to the FAQ on their website: http://www2.standardandpoors.com/spf/pdf/index/SP_Case_Shiller_Home_Price_Indices_FAQ.pdf Their criteria for this report is strictly limited to the following: "To be eligible to be included in the indices, a house must be a single-family dwelling. Condominiums and co-ops are specifically excluded. Houses included in the indices must also have two or more recorded arms-length sale transactions. As a result, new construction is excluded." For areas such as Chicago, New York, Miami, and other major metropolitan areas, doesn't this kind of skew the data??? Would love someone to clarify this if I'm totally missing something. Matthew Dollinger Performance Coach @properties, Chicago IL
"If there is no guarantee of payment, why would any Realtor show the property?" I think that directly goes against your code of ethics, or at least what your tell your client your job is. To answer your question, you would show the property because it fit the criteria of which your client is searching. How does this differ from you showing a client a FSBO? Couldn't you ask your client to pay the commission if there wasn't one being offered out? I'm sorry, and I'm not picking on you, but this puts a bad taste in my mouth right along the lines of a listing agent offering out incentives to the agent, rather than the client. Matthew Dollinger Performance Coach @properties, Chicago IL
