How many days after listing

[snoop101]

Hello all

Just curious on how many days after your house/condo got listed did you start having real estate agents come by with showings.

[colsankey]

The day we listed it, it was C/S the next day.

The was with Jordan, last year.

[K3RMiTdot]

If its priced right you should have constant activity the first few days.

[snoop101]

Ohh wow

I wonder if the long weekend will make a difference.

[snoop101]

Originally posted by K3RMiTdot
If its priced right you should have constant activity the first few days.

I could see this. I think its amazing though that in my area all the condos that sold all looked stock. Makes me feel good cause we changed the whole condo around.

[K3RMiTdot]

Originally posted by snoop101
Ohh wow

I wonder if the long weekend will make a difference.

Long weekend generally slower traffic as realtors/buyers are out of town. Especially if its the last long weekend before school.

[gyromonkey]

my Realtor listed my place June 15th at 11am and I had a showing at 2:30, it was conditionally sold for asking price by 8pm. They took possession Aug 1st It was pain free..... Besides all realtor and lawyer fees

[G]

Jordan Lotoski had a couple who wanted to view before it even hit the market. Listed on a Wednesday sold by Friday for 99% of asking price. This was back in June.

[403ep3]

First showing was first day on the market. Conditionally sold the following day. This was about a month ago
In sage hill.

[stevelou]

Listed it Friday C/S Monday back in Feb.

[Type_S1]

Sounds like you guys are getting great value out of your realtors...lol. Houses are selling themselves these last 6 months however it had slowed down in the past month as the market seems flooded. Lots of houses in the NW have been on for 30-60 days and have reduced prices. People are getting greedy and listing way above market.

[nickyh]

Granted this was in 2009, we signed the papers the Wednesday night with the agent, had 4 showings the Friday, and had two offers about to roll in the day we hit MLS (Saturday). The other couple did not want to compete so we signed the offer the other couple presented after a bit of negotiating.

It does not matter what the market conditions are, if you are listing at a fair price it will move quickly.

[Waldi]

The good indicator if your price point is right, if you have minimum 10 showing a week. If market is "hot" in your area, you should see interest right when you place it on the market, provided you are in the "market" price range.

[snoop101]

We put out condo up tonight and the real estate agent is going to match what others were selling at. The biggest difference is like I said before the other condos looked like they did in 2001. After putting in nice dark laminate through out and tile flooring in the bathrooms it sure makes the other condos look blah. Some even had the stock appliances (we put in all Samsung stainless steel).

[RX_EVOLV]

Yeh probably because the market was hot, but when I bought my house last year, it had ~ 15 showings in the first couple of days before it even hit mls.ca.. and of course I put in an offer within the first 24 hours. I think if it's priced right it'll fly.

[Tik-Tok]

Haven't sold my place, but my neighbor's house just sold for $25g under asking price, and 29 days on the market.

He had people looking right away, but wanted too much to begin with IMO.

[snoop101]

Originally posted by Tik-Tok
Haven't sold my place, but my neighbor's house just sold for $25g under asking price, and 29 days on the market.

He had people looking right away, but wanted too much to begin with IMO.

Wow that's a big chunk of asking price. I assume your neighbor asked for a lot trying to get lucky and hope someone grabs it.

Are you selling for a reason or just to see if it would sell? I would have thought the real estate agent would have told you straight out that you guys are asking too much.

Interesting though.

[Tik-Tok]

Mine isn't for sale, I was just relating my neighbors experience. Mine would probably have sold for his asking price, just because I have the triple garage, and he only had a single.

I'll be in this house for a long ass time. :thumbsup:

[snoop101]

Originally posted by Tik-Tok
Mine isn't for sale, I was just relating my neighbors experience.

I'll be in this house for a long ass time.

ahh ok sorry I miss read that.

[max_boost]

Originally posted by Type_S1
Sounds like you guys are getting great value out of your realtors...lol. Houses are selling themselves these last 6 months however it had slowed down in the past month as the market seems flooded. Lots of houses in the NW have been on for 30-60 days and have reduced prices. People are getting greedy and listing way above market.

So what is it then?

Sell in 1-7 days, Realtor not worth it. I want some money back from commission etc.

Or

Price higher, sit for 30-60 days, the Realtor sucks, get a new one.

:rofl:

[Xtrema]

Originally posted by snoop101
Hello all

Just curious on how many days after your house/condo got listed did you start having real estate agents come by with showings.

Good shape, priced right, it should go fast.

Place looks like a dump, looks lack of care, priced high, will stay on market.

2 houses on my street needed at least $100K of reno and they still want $950K, sat there for over 10 months now.

2 others are in good shape, location asked for $1.2M and sold within a week. Another asked for $800K and sold within 2 days. Bungalow town house wanted $620K and had been on the market for 38 days.

Your real estate agent should be able to advise on price you should ask and at what price to move it quick. Choose one that is familiar with the area/region. There are way too many variables.

[snoop101]

Originally posted by Xtrema


Good shape, priced right, it should go fast.

Place looks like a dump, looks lack of care, priced high, will stay on market.

2 houses on my street needed at least $100K of reno and they still want $950K, sat there for over 10 months now.

2 others are in good shape, location asked for $1.2M and sold within a week. Another asked for $800K and sold within 2 days. Bungalow town house wanted $620K and had been on the market for 38 days.

Your real estate agent should be able to advise on price you should ask and at what price to move it quick. Choose one that is familiar with the area/region. There are way too many variables.

Im not to worried about how long it will take to sell. The ones in my area have been on the market for less than 2 weeks and like I said before look like how they were in 2001. Also no other top floor unit has sold in my area at all in the last year (as I remember what he showed me)

My issue was that we have a bit of small things to do like carpet cleaning and small clean up's. Would suck to list it tonight and tomorrow have people come through.

I dunno, maybe i'm just being picky lol Looking at all the show homes when we decided to built change my image of what a house should look like.

[Xtrema]

Originally posted by snoop101
I dunno, maybe i'm just being picky lol Looking at all the show homes when we decided to built change my image of what a house should look like.

Doesn't hurt to clean it up. But if your place looks bare, you can always hire someone to stage it.

[Mitsu3000gt]

Another friend of mine just sold his house on Comfree by himself in 2 days.

My brother rented his Sunnyside condo out within 24 hours of listing with multiple offers above asking price.

If it's a good property it should sell almost immediately in this market it seems.

[snoop101]

Originally posted by Xtrema


Doesn't hurt to clean it up. But if your place looks bare, you can always hire someone to stage it.

LOL I wish my condo was bare. Wifes asian and have a 2 year old. Do I need to say anything more.

We actually built our house with Trico and at the time (might still be same thing) they have three re-max agents that they work with to sell our current place and they take care of all the costs. He was advising on how we need to de-personalize.

[codetrap]

Originally posted by max_boost


So what is it then?

Sell in 1-7 days, Realtor not worth it. I want some money back from commission etc.

Or

Price higher, sit for 30-60 days, the Realtor sucks, get a new one.

:rofl:

Option C. Pay the Realtor $50/hour to sell the home with decreasing bonus based on the longer it stays on market.

[variance]

Originally posted by snoop101


LOL I wish my condo was bare. Wifes asian and have a 2 year old. Do I need to say anything more.


Can you actually say a bit more? Does having an asian wife mean she like to buy things and thats why ur condo isnt bare?

[Mitsu3000gt]

Originally posted by codetrap


Option C. Pay the Realtor $50/hour to sell the home with decreasing bonus based on the longer it stays on market.

If only they were paid based on the amount of work they had to do.

In this market, they have every incentive to undervalue your home so they can take a quick commission and move onto the next one with minimum hassle. My GF's mom is on her third realtor already due to them just trying to make a fast buck with no effort.

[max_boost]

Just curious the people who are using comfree or similar services, what's the price point? $500k homes? 600k? etc?

[RX_EVOLV]

My friend bought a house last year and calculated that the # of hours his realtor spent on it / $ commission earned worked out to ~ $1,000/hour.. then proceed to tell him he sold just over $30M of houses the year before.. imagine the commission!

[slammedfc]

put my house up on a Friday, MLS went live at 10am, had a showing at 11am(lots after for the next 2 days), sold 2 days later for 5k under asking and 25k above market value (NW) this was a few weeks ago.

[Mitsu3000gt]

Originally posted by max_boost
Just curious the people who are using comfree or similar services, what's the price point? $500k homes? 600k? etc?

Both people I know who used it recently were for $400-500K downtown condo sales. Saved a ton of fees. You can buy different Comfree packages, ranging from $500-1000 or so, IIRC.

And for those selling your house above market, don't you just instantly lose your "premium" when you bend over for the Realtor? Especially with so many people seemingly selling their home in 24-48 hours? If your property is that desirable, you could easily be avoiding paying a massive commission.

[Xtrema]

Originally posted by Mitsu3000gt


Both people I know who used it recently were for $400-500K downtown condo sales. Saved a ton of fees. You can buy different Comfree packages, ranging from $500-1000 or so, IIRC.

And for those selling your house above market, don't you just instantly lose your "premium" when you bend over for the Realtor? Especially with so many people seemingly selling their home in 24-48 hours? If your property is that desirable, you could easily be avoiding paying a massive commission.

Market is hot, that's why 1% and Comfree outfit thrives.

When market is back to balanced, you will need RE agent again.

It's stupid out there right now. I can hand out flyers in front of my house and still get it sold (assuming I price it right).

[Type_S1]

Originally posted by Xtrema


Market is hot, that's why 1% and Comfree outfit thrives.

When market is back to balanced, you will need RE agent again.

It's stupid out there right now. I can hand out flyers in front of my house and still get it sold (assuming I price it right).

Realtor's are not even required when it is slow. Most people just look up properties on MLS and forward the properties they want to see to the realtor. Realtor's are only good for getting the "amazing once in a lifetime" deals before they hit MLS (there is a reason I quoted that). As for selling realtor's are only there to put you on MLS...not much else they do? If your house is decent people are going to look at it whether you have Jordan from Beyond or Batinder from Whitehorn trying to sell your house.

[max_boost]

so it's better to be on the buy side of things cause buyer's agent still gets full commission in those comfree deals etc.? :dunno:

[Mitsu3000gt]

Originally posted by max_boost
so it's better to be on the buy side of things cause buyer's agent still gets full commission in those comfree deals etc.? :dunno:

I believe with comfree you would negotiate the commission for the buyer's agent, who was most likely forwarded the property by the customers anyway haha. The customers will get shown the house before you negotiate fees though, so if the customers love the house, and you as the seller don't want to pay their realtor their insane fees, I would imagine the customers can just make their own deal with you without the realtor. Not 100% sure what happens in that scenario though. I'm sure most people would be willing to give the realtor a reasonable commission for the amount of work done, like maybe $500-1000. I also believe the customers aren't allowed to just ditch the realtor and do a side deal if the seller isn't willing to pay the absurd fees, but then again if the realtor was refusing a fair sum for the work done, the customers may be able to legally go around the realtor.

Does anyone know for sure what happens in this scenario, which I assume is common:

- House shoppers send their realtor a property they like on MLS
- Realtor shows the property to the shoppers
- Shoppers love the property, and go to the offer stage
- Seller is a Comfree user, and wants to pay minimal or no fees to the realtor for obvious reasons

Can the shoppers just dump the realtor and buy the house from the seller on their own? Or is the shopper fully screwed out of their dream property for their decision to use a realtor in the first place?

[Xtrema]

Originally posted by max_boost
so it's better to be on the buy side of things cause buyer's agent still gets full commission in those comfree deals etc.? :dunno:

1% or Comfree listing usually list buyer agent commission in order to attract buying agents to the listing.

Ethically, agents suppose to show all listing meeting client's criteria. In practice, buying agents will only go to these listings if buyers points them out. You can't fault human nature.


Originally posted by Mitsu3000gt
Can the shoppers just dump the realtor and buy the house from the seller on their own? Or is the shopper fully screwed out of their dream property for their decision to use a realtor in the first place?

As for July 1st, you have sign contract with buying agent. If you wish to terminate, you can pay agreed amount to terminate.

Where before, buying agents will get dumped with 0 recourse.

[max_boost]

I was under the impression the seller only saves money on the sell side of things but still has to pay the usual 3.5/1.5% to the buyer's agent.

[jwslam]

Originally posted by max_boost
I was under the impression the seller only saves money on the sell side of things but still has to pay the usual 3.5/1.5% to the buyer's agent.
How would that work when someone lists with 2% Realty (http://www.2percentrealty.ca/) :nut:

[max_boost]

I dunno. How does it work lol



:nut:

[Mitsu3000gt]

So, if I understand this correctly - buyers find house of their dreams, being sold by someone unwilling to pay the completely outrageous realtor fees. Buyers cannot get the house of their dreams because they decided to use a realtor...well, that sure does suck a big one.

How would the realtor know if you dumped him and bought the house? Or can realtors see the names of people who buy any house?

[D'z Nutz]

Originally posted by Mitsu3000gt


If only they were paid based on the amount of work they had to do.

In this market, they have every incentive to undervalue your home so they can take a quick commission and move onto the next one with minimum hassle. My GF's mom is on her third realtor already due to them just trying to make a fast buck with no effort.

You think that's bad? A friend of mine got a realtor to sell his place. A couple hours after hiring the guy, my friend went outside for something and some guy walked by and they started chatting and he mentioned to the stranger his place was for sale. My friend ended up selling his place to this guy and he still had to fork out commission to the realtor. The realtor didn't even have time to do anything to try and sell the place. Hahaha! He was pissed!

[Xtrema]

Originally posted by jwslam

How would that work when someone lists with 2% Realty (http://www.2percentrealty.ca/) :nut:

If you don't want to pay buying agent, its no different than listing as exclusive.

You hope that someone in the 2% network has a buyer for you.

And as someone has pointed out before, these people work in volumes. So they usually suggest market or lower than market to get it moving and off their hands quick.

Where traditional agents based on full commission and would fight for top selling price possible.

[Xtrema]

Originally posted by Mitsu3000gt
So, if I understand this correctly - buyers find house of their dreams, being sold by someone unwilling to pay the completely outrageous realtor fees. Buyers cannot get the house of their dreams because they decided to use a realtor...well, that sure does suck a big one.

How would the realtor know if you dumped him and bought the house? Or can realtors see the names of people who buy any house?

Again, you can break contract, pay for some expenses of buying agent and talk to listing agent/owner directly.

If you think you can find a place without representation, try it. Right now, its all about finding places before it hit mls or within seconds that its listed. Only Realtor can do that.

[Mitsu3000gt]

Originally posted by D'z Nutz


You think that's bad? A friend of mine got a realtor to sell his place. A couple hours after hiring the guy, my friend went outside for something and some guy walked by and they started chatting and he mentioned to the stranger his place was for sale. My friend ended up selling his place to this guy and he still had to fork out commission to the realtor. The realtor didn't even have time to do anything to try and sell the place. Hahaha! He was pissed!

Oh man haha...that is brutal. I'd be livid.

[snoop101]

Well I answered my own question.. Condo went up this morning and have a showing at 6:30 tonight.

[Prail]

Good luck... We listed about 1.5 weeks ago and it's been pretty slow.

[JDMMAN]

You guys really need to watch the following:

http://youtu.be/17jO_w6f8Ck

That said, I'm in the same boat. I listed w/ Comfree. Luckily I'm not in a hurry to sell. Typically August is slow. Here's to an active September! :thumbsup:

[ganesh]

We had showing from the time ours went on the market. On average we had minimum 3/Day. Went on contract on the 5th day and sold for 2% above asking price.

[snoop101]

So we listed yesterday and today we are getting an offer. Its about where we though we would get which is a bit higher than most in the area. the crappy thing is that our house wont be built till end of Oct and these people want out Condo Oct 1st.. eeek

[sputnik]

Originally posted by Xtrema
It's stupid out there right now. I can hand out flyers in front of my house and still get it sold (assuming I price it right).

My friend's parents sold their house near Stanley Park for $650k.

It was C/S before he was done hammering the "For Sale By Owner" sign into the front lawn. He was upset that he spent $20 on the sign.

[rx7boi]

That buyer's agreement that Xtrema talked about is pretty interesting.

Our mortgage broker referred us to a realtor (whom she also bought from) that presented us with a Buyer's Agreement saying that our business is with her/real estate company for X amount of time.

Contract also talks about her obligations to us as a Buyer, as well as conflicts of interest and shit like that. I used to do sales so I understand where the contracts are coming from because some buyers suck, especially if they jump ship after months of work.

On the other hand, I will need to have clarification on what happens if things do not work out, although I have read that most realtors will allow prospective buyers to leave a contract if there is reasonable justification. Either way, if you don't like them, you won't buy from them and the contract just holds everyone up.

[avishal26]

My place in Evanston just listed at midnight Friday night and had its first showing today. :D

[avishal26]

So today's the 4th day on the market (1st after long weekend). Have another showing today and also working a deal .. had an offer on Sunday. :D

[blownz]

Originally posted by max_boost
I was under the impression the seller only saves money on the sell side of things but still has to pay the usual 3.5/1.5% to the buyer's agent.

It depends if the buyer is using an agent or not.

When I used comfree I refused to show to people using a realtor unless the realtor was willing to accept $100 from me as that is all the value I placed on them driving someone over to my house. That pissed off a ton of realtors and was rather entertaining for me.

I sold so a couple without a realtor so I paid nothing in commission other than the comfree charge. Sold in 11 days so worth it although the worst part of it was dealing with realtors. Either realtors trying to show it, trying to pretend to be buyers, or telling me I will never sell without them. 99% of them are extremely irritating and no better than a used car salesman. They just unfortunately make a shitload more money.



As for all the places selling within a few days, I think way too many realtors are pricing houses too low in order to make a quick sale. I know two people that have sold in the past few months and they both listed for more than they were told and still sold within a week each which imo is still too fast.

[avishal26]

Originally posted by blownz


..............


As for all the places selling within a few days, I think way too many realtors are pricing houses too low in order to make a quick sale. I know two people that have sold in the past few months and they both listed for more than they were told and still sold within a week each which imo is still too fast.

That is true. But there is also this perception that is you're in the market for 30 days, there is either something wrong with your place or you are too high.

One of the problems I'm having is trying to figure out what market value actually is because not many duplexes in the market to begin with and only 2 have been listed and sold in Evanston all year. Waiting for new duplexes to come up in Evanston in a couple of weeks. I see some listed on MLS for $504k - $506k which is approx $100k more than 2012 summer.:eek:

[lasimmon]

Correct me if I am wrong, but if you list your house and its C/S the same day or within a day or 2, does that not mean you priced it wrong?

I feel like if people are willing to pay listing, it has been priced incorrectly.

[pheoxs]

Originally posted by lasimmon
Correct me if I am wrong, but if you list your house and its C/S the same day or within a day or 2, does that not mean you priced it wrong?

I feel like if people are willing to pay listing, it has been priced incorrectly.

Yeah, all these people posting how great their realtor is because their house sold in one day makes me scratch my head.

If I post your 500k$ house up for 400k$ I'm sure it'll be gone in a day no problem. Doesn't mean I did a good job at all. Even if I get multiple bidders and they bid it up to 450k$ you're still leaving $$$ on the table...

[RX_EVOLV]

Originally posted by lasimmon
Correct me if I am wrong, but if you list your house and its C/S the same day or within a day or 2, does that not mean you priced it wrong?

I feel like if people are willing to pay listing, it has been priced incorrectly.

I think it depends on the type of houses. For example when I was looking for my house I had very specific criteria in mind. I know I wanted an inner city house and I wanted a lot that's at least 36' wide and not on a busy road. However I have a relatively small budget, so I can only afford an older home/ fixer upper. Personally I'm not a fan of bungalows and sometime find them to be a bit too small, so I was looking for a 100 year old character home that's recently updated.

You can imagine a 1910s character home in NW/SW that's recently updated does not pop up too often, so I spent over a year looking for one. As soon as I found one I would try to jump on it, and so would other people. Every house was a bidding war. That's how hot the market was/is.

Although I remember there was one that I REALLY liked, but it was definitly overpriced by a fair bit. We went back and forth for a few days, and got within $2,500 from each other's offer. However I wasn't willing to move any more because I don't think the house is worth that much, and he wasn't will to move as well.. so we both walked away... Looking back I'm glad I didn't overpay for that one.