All Forum Posts by: Jack Taylor

@John Warren I'm considering a flat-fee realtor...Doesn't that also mean I'll be paying a buyer's agent commission as well, though? Trying to avoid shelling out $10,000+ of the purchase price if at all possible. I'm new to this. I know paying for realtors will probably get my home sold faster, but I'm not necessarily concerned with the speed of the sale.

Wow, thanks so much Vincent! If I have questions (and likely will), I'll contact you. And thank you Stephany for your response as well. 

Happy Thanksgiving!

I'm a first time FSBO seller that plans to post a listing in Illinois. Should I be giving real estate forms to my potential buyers at the showings in case they want to put in offers? If so, what forms should I be handing over to them? I want to make this as easy as possible for them to put in an offer and to keep the process running smoothly.

Thanks, Jorge! Invaluable advice. I appreciate you taking the time to help. 

If I decide to go with a flat-fee MLS service, I'd like to be able to control my listing myself through some kind of website login where I can change the pictures, description, etc., all myself. Is this possible with any flat-fee MLS listing? Or do I have to contact the agency who is listing my house every time I want to change the listing?

Another question--it seems like the local MLS flat-fee agencies are requiring me to sign a contract about my listing agreement with them. Since I know nothing about flat-fee services, is this ok? I don't want to end up paying more for the services than just the flat-fee. I can handle lock box, negotiations, etc. I already have a lawyer as well.

@Brandon L. Thanks--I live about 3 blocks from the house I'm selling, and I work from home, so I don't mind setting up these appointments and showing up over there. Maybe I'm underestimating the amount of work? I've also gone to real estate school, just never took test. Not that that really helps, but was thinking maybe offer a buyer's agent more commission and find a flat-fee MLS listing service? Please any more advice or thoughts are appreciated!

Thanks, Brandon. What about just finding a flat-fee MLS service that will list in my area? I just don't know enough about if this will work. I assume that an agent would be the best--but also a flat-fee MLS listing I would think would help also. But any advice is appreciated because I'm new to this game.

I have a property in need of rehab (multi-unit that could also be a single family) I'm going to try to sell and minimize seller's commissions (at least see if I can do it this way). I've read numerous forum discussions on, say, FSBO, or on Redfin, but does anyone have any pros/cons or a preferable way to sell? Do the basic flat-fee MLS companies do any better or worse than FSBO or Redfin?

That's what I was hoping--I don't want to end up with a bunch of hidden issues. Thank you for your help. I'll be contacting my agent!

I am using an agent and the money is in escrow. Also, here's the paragraph about disclosures. I underlined the specific part about disclosures. 

“AS IS” CONDITION: This Contract is for the sale and purchase of the Real Estate in its “As Is” condition as of the Date of Offer. Buyer acknowledges that no representations, warranties or guarantees with respect to the condition of the Real Estate have been made by Seller or Seller’s Designated Agent other than those known defects, if any, disclosed by Seller. Buyer may conduct an inspection at Buyer’s expense. In that event, Seller shall make the Real Estate available to Buyer’s inspector at reasonable times. Buyer shall indemnify Seller and hold Seller harmless from and against any loss or damage caused by the acts of negligence of Buyer or any person performing any inspection. In the event the inspection reveals that the condition of the Real Estate is unacceptable to Buyer and Buyer so notifies Seller within five (5) Business Days after the Date of Acceptance, this Contract shall be null and void. Buyer’s notice SHALL NOT include a copy of the inspection report, and Buyer shall not be obligated to send the inspection report to Seller absent Seller’s written request for same. Failure of Buyer to notify Seller or to conduct said inspection operates as a waiver of Buyer’s right to terminate this Contract under this paragraph and this Contract shall remain in full force and effect. Buyer acknowledges that the provisions of Paragraph 12 and the warranty provisions of Paragraph 5 do not apply to this Contract.