Moot Issue . . . Unless the Deal Hiccups One of the biggest concerns residential home Buyers have is who holds their earnest money check. Due once there is an accepted Purchase Agreement, earnest money typically is equivalent to 2% – 5% of the purchase price, and plays a dual role: a) it signifies the...Read More
Saving 2.7% of $0 Contrary to popular perception, not all “For Sale by Owner” homes (“FBO’s”) are created equal. Perhaps the biggest misconception is that FSBO sellers are trying to avoid paying any commission. Wrong. The vast majority are only trying to save half a commission — specifically, the portion payable to the agent representing...Read More
“The Overpriced Factor,” “The Hassle Factor,” Etc. Non-Realtors may be inclined to believe it’s some kind of conspiracy. But, in reality, there are multiple, rational reasons that experienced Buyers’ agents seldom show For Sale By Owner homes (“FSBO’s”). Here are just a couple: –FSBO’s are invariably mispriced (want to guess which direction??). –They’re poorly staged and...Read More
Is Anyone Home? Anyone?? As I’ve noted from time to time, For Sale By Owners (“FSBO’s”) are prone to multiple mistakes, any one of which can easily negate (or worse) any money such Sellers hope to save on commission. See, “FSBO Mistake #1 (and #2, #3, etc.)”; “FSBO Mistake #4“; “FSBO Mistake #37.” Along with the...Read More
Non-Listed Listed Homes One of the side effects of a seller’s market is more homeowners who believe that they can sell their home without a Realtor (called “For Sale by Owner,” or “FSBO”). Here’s another: homes putatively listed by a Realtor, but nowhere to be found on MLS (Multiple Listing Service, the repository for all...Read More
“Gorgeous Home With Beautiful Wayne’s Coating” Two new listings + two broker tours + 15 Buyer showings + 3 Purchase Agreements — all since Saturday — equals . . . no City Lakes blog posts. Unless you count this one. P.S.: Thanks to colleague Kathy Dick for hosting the Broker Open at 3806 W. 32nd...Read More
