LISTING YOUR HOME

Is it better to list with agent or broker? What is the upside for either?

There are a few reputable Brokers and even fewer reputable agents IMHO. If I was listing I'd go with a firm or person I trust.

David wrote:There are a few reputable Brokers and even fewer reputable agents IMHO. If I was listing I'd go with a firm or person I trust.

OK David, listing with Hernandez, Broker or agent!

Do you want open houses?
Do you think the broker will do them?

I'd select an agent based on an interview. Holding open houses would be high on my priority list and an exit clause if they fail to do so.

Also important - the suggested list price
not what you want to hear
but what it could be sold for in the current environment.

Viajero-Tiempo wrote:Do you want open houses?
Do you think the broker will do them?

I'd select an agent based on an interview. Holding open houses would be high on my priority list and an exit clause if they fail to do so.

Also important - the suggested list price
not what you want to hear
but what it could be sold for in the current environment.

Sorry Dude, Realtors love open houses. they get leads from shoppers!

David and Viajero-Tiempo have it right. Re-read their posts.

The most important thing is the relationship you have with the Real Estate Agent, or broker or otherwise, and the trust you have in him or her. And the other most important thing is the PRICE. (Not the one you want to hear, but the real one that might sell your house. There are a handful of professionals around town, who will tell you the truth. But a lot of people in this market don't want to hear the current reality.)

That said, you are right that Real Estate agents enjoy (and make contacts via) open houses when the property is desirable and attractively priced. But if it isn't, it is a complete waste of their time. Nobody walks into your house if it's over-priced.

Good luck! (And no, I'm not in the business.)

Id just say that there are some agencies that never hold open houses.
And there are agents that never do open houses.
I would not list with one of them.

Make sure you have insurance on you home and belongings. You don't know who will come take a peek.

SunsetKid wrote:Make sure you have insurance on you home and belongings. You don't know who will come take a peek.

Dont worry the agent is always with them and youd have to prove theft. Good luck with that.

Jim W wrote:

David wrote:There are a few reputable Brokers and even fewer reputable agents IMHO. If I was listing I'd go with a firm or person I trust.

OK David, listing with Hernandez, Broker or agent!

Dont understand your question Jim????

joec wrote:

Jim W wrote:

David wrote:There are a few reputable Brokers and even fewer reputable agents IMHO. If I was listing I'd go with a firm or person I trust.

OK David, listing with Hernandez, Broker or agent!

Dont understand your question Jim????

In each RE office there is one broker. Real Estate agents are those who sell houses and work for that or another broker.

This is unlike insurance where an insurance agent is an agent of one insurance company while an Insurance brokerage, like Parker Insurance can sell insurance from multiple companies and who will hopefully find that best insurance company for his particular client

The Broker who employs the agents generally sets the tone of the office ethics.
If the Broker finds that an agent in playing fast and loose with the truth, said agent may have to move to a more compatible office. If the broker is a sleazebag, he/she will gather like souls as agents.

Back in the States, there were very tight disclosure laws, enforceable by lawsuits when the lies were uncovered. There is sometimes a false sense of confidence on the part of buyers from NOB who don't know that it is very different here.

In Mexico, we don't have 30 page disclosure documents, so it's up the buyer to assess the agent's ethics, have good inspections, and hope to gawd that at least the most egregious truths about a property are revealed in the spirit of basic honesty. You know, like the existence of a notorious narco nest next door, or the fact that the hill is drifting down toward the lake.

Open Houses are a good thing for the real estate agent; lots of names are collected. It's not very likely that a serious buyer will attempt to find his/her dream house by just touring the open houses. Serious buyers find themselves a "buyers agent" to do the legwork for them.

The above blathering is based on extensive personal experience, both NOB and here.

It is very important to choose an agent who has a strong personality but who is also manageable. You must manage your agent to your advantage.

It is also to your advantage to schedule several open houses at signing AND make them on unusual days and times. Also throw a couple quick and easy open house style parties and invite the periphery of your social group and their friends.

gringal - I must disagree with you on Open Houses and Buyers. We sold our condo on an open house for $ 6 K less than asking price. It was one of the best decorated condos in our area.

We sold our last house on an Open House with only the second open house ad in one month. The people saw a picture ad in the Boston Sunday globe and were not in the market for a house quite yet. But because they were driving back from a weekend on Cape Cod, they stopped in for a look, looked around, walked out, then walked in again and asked for an Offer Form. Yes, the house was in that perfect move in condition needing absolutely nothing, just like the one we have here. We got $ 5 K less than asking which was 5 K more than the Realtor wanted to list it for.

So.......you were a Lucky Dog, Joe. Good fortune shines on the prepared, as well. If your house is a real showplace, Lady Luck likes you even better.

However, whether an Open House results in a sale or not, agents love them anyway. They collect prospects. That's gold.

gringal wrote:So.......you were a Lucky Dog, Joe. Good fortune shines on the prepared, as well. If your house is a real showplace, Lady Luck likes you even better.

However, whether an Open House results in a sale or not, agents love them anyway. They collect prospects. That's gold.

My concern is not whether agents get good contacts, my concern is that the right person will walk thru and love the house. To any really good agent like mine. they should pick up clients, so I wish them well.

In most major cities in the U.S., there is no difference in sales whether you have an open house or not. There are some wild exceptions.http://blog.redfin.com/blog/2012/04/do_open_houses_help_homes_sell.html Personally, I think they are a waste of time.

Given the state of the market and if I were living there full time - I might be inclined to do a FSBO where I controlled the promotional efforts? With the standard commission structure and the fact that you have to pay the 16% IVT on the commission, this gives you some fairly nice wiggle room on the price. Now for the qualifier: as seller you should be willing to remove all emotions from the process and be totally honest with any and all representations.

Restating my original question with more clarification! NOB, the listing agent and broker split commission.....on listing, the selling sgent and broker split their side. So if you list with sales agent vs. broker is there an upside? Listing with broker eliminates a split on the listing side, but, do you get the same attention from broker vs. listing with his agent?

Jim W wrote:Restating my original question with more clarification! NOB, the listing agent and broker split commission.....on listing, the selling sgent and broker split their side. So if you list with sales agent vs. broker is there an upside? Listing with broker eliminates a split on the listing side, but, do you get the same attention from broker vs. listing with his agent?

Only thing I ever ask... " how much do I get?"
How's Arizona??

I don't understand: the broker runs the agents. You can't list with "the broker", unless he/she is also an agent. Okay, so say you give the "broker" the listing: No, you don't get the service, and b. you piss of the agents who work there.

A reality check - I've lived in the Haciendas for almost a year and have seen maybe two open houses. No, everyone doesn't hold them. And they get eyeballs who might tell friends if they themselves aren't interested. You have a house that shows well and looks much better from the inside than from the street.

From a retired Realtor, an open house is only one tool in your toolbox but in times of slow sales, no tools should be ignored. And yes I have sold homes at open houses.

hockables wrote:

Jim W wrote:Restating my original question with more clarification! NOB, the listing agent and broker split commission.....on listing, the selling sgent and broker split their side. So if you list with sales agent vs. broker is there an upside? Listing with broker eliminates a split on the listing side, but, do you get the same attention from broker vs. listing with his agent?

Only thing I ever ask... " how much do I get?"
How's Arizona??

In Oregon most agents are Brokers that way they
don't get classed as employees by the real
estate company and have to pay benefits LOL.
It did not increase my wifes money earned.
Z

hockables wrote:

Jim W wrote:Restating my original question with more clarification! NOB, the listing agent and broker split commission.....on listing, the selling sgent and broker split their side. So if you list with sales agent vs. broker is there an upside? Listing with broker eliminates a split on the listing side, but, do you get the same attention from broker vs. listing with his agent?

Only thing I ever ask... " how much do I get?"
How's Arizona??

Right on dude, me too. When they tell ya you're going to have to give them 7% plus IVA. The highest sales commission in Mexico, maybe even on the entire planet, I believe I'd just say, "I believe the house is no longer for sale. Awfully good of you to come visit. Don't call us......we'll call you." ;-)

Raq you are right on......7% is outrageous, but, compounded by the seller paying 16% IVA on their commission!