All Forum Posts by: Jacob Bindler

Paul. my 2 cents:: 

1. Do not hire a buy-side agent. If you do that the listing agent will lose the incentive and you will very likely lose the property.  That assumes that you want to get the property. 
2. Enter in to contract. 
3. Come back to the agent and try to negotiate a credit using some kind of excuse. Usually, there are plenty of excuses because of inspection. You are buying the land, so it would be tricky, but I am sure you can find something. The agent will not be happy, but he will either press the owner or share with you out of his commission. That is if there is no other buyer with not agent offering him the full 6%. Still, worth trying. 

I would definitely try to sell on my own but would get real help for real money. You do not need the agent timing the sale: you already are doing it. Price is definitely important, so I would bring 3 local agents and pay them for their time to advise you on price. Make crystal clear that you are not hiring them so they do not play games. Will cost you $1000. MLS listing, photos, flyers, a website would cost another grand.

Here a local agent to keep the keys and do showings if you cant and pay him/her per showing.  You will spend 5K max.  

All these vendors are easy to find. Try marketplaces of vendors and freelancers.  

I reply to Leland pm, but this is a part of it: 

About 4% broker. Here is my personal experience with such things. Your broker will take an assignment, but will try to take all the commission himself since the seller's part is really too small for him to do any meaningful work. He will not market it at all but will try to find a buyer without an agent. The chances are you will either lose time or money or both. You centrally will not get the highest price because your pool of potential buyers will be small. If I were to go this route I would separate the responsibilities: hire 1% guy to do the MLS, answer the calls and do the showings, but also promise a separate 3% commission to a buyer's agent. I would not take any buyers from my listing agent and market the property myself or with the help of vendors. It will be a bit more cost or work for you, but you will be in control and expand the number of buyers. Competition is the only way to bid up the price.

Lenard, what are you trying to do, buy, resell or what?

What are the numbers? PM me. If the numbers are good we might figure something out. 

I have 20 tenants in 7 buildings/condos in NYC area and am looking to streamline my appliance acquisition/purchase strategy. These things tend to break from time to time and I was wondering if people here have developed approaches to two things: 

• What is the best way/place to buy the appliances (HD, Costco, BestBuy...) were i can return/replace them with the least amount of hustle, and
•  Your approach to repairing vs replacing vs buying warranties.

 thanks a lot. 

I assume you are planning to move out. Otherwise, the conversation is meaningless: you need to live somewhere. I would rent on my own and list FSBO or use other services like domoveno to sell without an agent. will cost you very little and you will know the situation.

Becca Summers, What I am trying to build is a marketplace where sellers can find help in selling the properties, while experts like yourself can pick up additional income and referrals. You can take a look at beta site as domovendo dot com. I am not clear about advertising policies on BP site, so if they consider my post an advertisement and delete some portion of it, just PM me. 

I believe that a number of sellers will find the services useful. I also know that more than half of them will fail to sell even with all the help and services that will be provided. When it happen I will refer the seller to the agents that would agree to reimburse them for the money they spent at the site (up to a certain limit). I am just building up the service and testing it in NYC area, but you let me know if you want to claim your locations in Utah. I will probably will have a person or two for a location. 

Becca, I am very pleased you found the discussion stimulating. A couple of points:
1 regarding your analysis. I think that comparison to the asking price is not 100% correct. Example let say people say two nearly identical apartments in the same building.  First seller is asking 105 and ends up getting 100, while second asked for 95 and ended up with 99. Based on the asking price approach you would see that the first guy got 4.7% less than the asking price while the second 4.2% above. In spite of that the first guy is better off, and 

Oh yes, famous "pocket" listing. Forgot about that.