This post is going to go over a few of my experiences getting started as a home seller and investor. If you are looking for a listing agent to sell your home, please read on! Or better yet just call me at (251) 786-4673 or visit my website at www.mobilealhouses.com. I'd love to work with you!
I completely understand why people try to go "for sale by owner" homes. In fact, back in 2003 when I first got into Real Estate as an investor, the first home I sold, I sold myself. I was in my very early 20's and looking back, probably dumb as a rock. My plan back then was to purchase a home that needed some work at a heavily discounted price, clean it up and empty it out, do some yardwork and wholesale it to an investor. I honestly wanted to use a Realtor for both sides of the transaction. I didn't even mind cutting into my profits to pay for one. All in exchange for a nice, warm, fuzzy secure feeling of having someone experienced in the business that knew how things worked to guide me along and share the workload. I invited a Realtor over to get her opinion of what my newly acquired property was worth in that days market. Well, the meeting came and after walking around the property going "hmmm, wow this is a large home..." and "Oh, yes these are great trees" or "this is a big lot." She never gave me a number of what I should ask for the property instead she defaulted to my expert opinion of what I thought the home was worth, she never asked for my business and I never saw any comparables or similar properties that were for sale in the area... I was as blind as ever... So, I decided to go For Sale By Owner.
I estimated the price I was going to ask by how much profit I wanted and I ended up selling for less than I should have. (but still made a nice profit of exactly what I planned) having a Realtor in that situation would have made me money! Also, the confusion I put up with and don't even get me started on the Real Estate Attorney I used! I am pretty sure he used he every trick in the book to rip the sellers off for his own benefit... I still remember walking into his office, wearing flip flops as a 20 something kid and trying to figure out how he justified keeping the sellers money in a private escrow account for himself... Another story for another day I suppose.
Long story short if I would have had a GOOD realtor that took the time to pull comps, could market and walk me thru who pays for what I would have saved so much headache and money. I probably would have sold the property for 10,000 more, not had the issue with the sellers not getting paid thanks to the shady lawyer (I want to add last year I saw the sellers and asked did they ever get the money for their house and they said NO!) If you are interested in the back story behind that one just email me. I wouldn't have thought it necessary to pay the sellers closing costs and so much more! I mean what buyer pays the sellers closing costs? I just heard talk of closing costs on HGTV and threw that out there! ((again, flip flop wearing 20 year old)
I guess I will chalk that one up as a learning experience that came in handy since I became a Realtor shortly after that, with some great mentors in the business. And at least I made a profit!
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