Realtors: Buy your home deals?

[Sugarphreak]

...

[JordanLotoski]

It happens, but not at a price you would want, The guarantee usually ensures the agent or brokerage can sell it without a loss or even a possible profit.

[lilmira]

If you are to provide that kind of guaranty, how much would you buy it for? It's more gimmick than anything. Reasonably speaking, those realtors don't really want to get to that point.

[Sugarphreak]

...

[max_boost]

Bro, in your case it would be $888,888.88 for your place.

[Sugarphreak]

...

[max_boost]

There's no free lunch ever, bro.

They are gonna get you! They are gonna get you good!

Nowadays I trust no one. I'll as 100 questions and if I don't get the response, that just means they have moved onto the next sucker!

[Sugarphreak]

...

[Weapon_R]

The way it works is that you agree to a price with your realtor and also to regular reductions for the set time period. If it doesn't sell, they buy it at the reduced price, less their full 7/3% commission. They sell it and get another 3.5/1.5% (or more) on the sale.

Of course, the price they list it at is aggressive enough that its likely to sell and if they end up having to buy it, the price they get it for is very attractive. They don't lose.

I see nothing wrong with it if you know what you're doing and understand that there is a cost for convenience.

[phreezee]

Just list your house on ComFree for their "promo" of $400.
I had 2 written offers and final sale within 30 days and ended up with my city assessed value.
At the end of it, I submitted my "I Sold" picture and won a $250 gift card to Rona.

I paid the buyer realtor 3.5/1.5 and saved over $10k.

If you don't sell at a price you want after 90 days you are only out $400.

[Vanish3d]

The purpose of this 90 day guarantee is aimed at home owners who are looking to buy a house around the same time (or before) selling their home, and are unable to get a mortgage for 2 homes.

They can now get pre-approved based on the agreed upon 'guarantee' price and buy a house, and hopefully they will sell their original house within the 90 day period for more than the 'guarantee' price (usually can since the guarantee price will be significantly lower than market value)

[dirtsniffer]

makes sense, can see why it exists then.

[403ep3]

I've looked into it as I had trouble selling my house, but the loss from market value was

[2000impreza]

I know Len T Wong does stuff like this where he will buy your house if it does not sell within a certain time period. Probably after a few scheduled price reductions I would imagine. If you get to this point, you are probably losing quite a bit on your house. Either that or you priced it completely wrong at the time of listing.

[Sugarphreak]

...

[Masked Bandit]

The last time we sold, the realtor we used had access to one of these programs but it's a shit deal for sure. It was all laid out in the initial contract and went something like this.

Day one, list @ $500K
Day 30, list @ $460K
Day 60, list @ $410K
Day 90, sell to realtor @ $385K.

The initial listing price was reasonable and accurate but who the hell would agree to sell their $500K house for $385K?

[Sugarphreak]

...

[Xtrema]

Originally posted by Masked Bandit
The initial listing price was reasonable and accurate but who the hell would agree to sell their $500K house for $385K?

People who need money and leave town in a hurry.

Sound like Sugarphreak may fit that mold.

[dandia89]

even if the realtor bought it at the listing price after 90 days, they'd be saving a ton of money by still receiving a selling/buying commission? So they'd essentially get a discounted price, then when they sell it again they'll get another commission

[yellowsnow]

The housing market is crashing imminently, so take whatever you can get!