All Forum Posts by: Richard C.

 That isn't even splitting hairs.  It is splitting the hair on a hair.

People need to determine their own ethical compass.  I would not do what you did, not would I do business with you.

Your mileage may vary.

 Both.  It is normal, AND a mistake on your part.

This is what "wholesalers" do.  That is why there is no reason at all to use a wholesaler for the vast majority of properties and situations.

One of the biggest lies that wholesalers tell people is that you need to make repairs in order to sell with an agent.  This is absolutely untrue.

Well, I will repeat what others have said.  There are very comparable houses available for less in the neighborhood, and other houses at a similar listing price that have one or more advantages (like more space, better curb appeal, or a more private backyard) and have been on the market for 150+ days.

So if you want to sell quickly...it's price.

Was it true that your banker limited your offer?  Personally, I don't lie to try to close a deal.

I offer cash, in November or December, for high DOM properties.  

So, don't take this the wrong way, but...

You asked for feedback on why it is not selling.

Many people made perfectly reasonable suggestions.

And you basically offered an argument against each and every one.

Why ask for feedback if you don't actually intend to listen to the feedback?

Houses don't sell for one of two reasons.

First, they have not been adequately exposed to the market.  This is not true in your case, if you have had 15 showings already.

Second...price.

It is almost always price.  Even when a building has other flaws, they will not be an issue if it is priced appropriately.

Lower the price.

I'm not an agent. And I still say it is almost always a mistake to FSBO.

The reasons have already been mentioned. Unrealistic pricing. More work for either the buyer's agent, or your attorney, or both (and if your attorney ends up doing things that would normally be done by a seller's agent, it will cost you MORE, not less, to FSBO.) Lack of understanding of real estate marketing, as evidenced by things like lousy photos and going to market at the wrong time of year.

People using an agent consistently get a better price.  This has been validated in every single study of the data that I am aware of.  

FSBO is false economy, unless you really, really know what you are doing.

Why do people leave jobs where they are making a salary?

This is work.  Don't let anyone tell you it is not.  Anyone telling you that being a landlord is "passive income" is doing this at a large scale, or is lying to you to get you to buy something, or is over-paying for management and probably has never calculated their actual rate of return.

Buying a first-time investor with one property is WORK.

Sometimes, people decide that the money isn't worth the work, and sell.  Just like they sometimes leave a job when then decide that the money isn't worth the work.

Usually, someone else is willing to take that job, because the money is worth it to THEM.

So it is with rentals.

No one likes to hear this...

...but if you are getting views, then people are seeing your listing.  And if they are seeing your listing and not calling about it/applying, then the issue is almost always price.

I don't see anything egregiously wrong with the condo.  The kitchen is a little dated-looking, but basically fine.  Your listing language is fine, and you aren't doing any of the stupid things many landlords do, like use very prescriptive language or listing lots of rules.  You're allowing pets with a very reasonable deposit.  The photos are good, though I might re-take the city skyline view shot in such a way as to cut off the AC units on the neighboring roof.

So I really don't think you are doing anything wrong, which to me reinforces my belief that the issue is probably price.

In my area, this is a dead-slow time to be trying to rent.  To the extent that I go way out of my way to be sure I am NOT trying to rent now.  If I were you, I would try to sign someone to either a 6 month or 18 month lease, so next time you are renting, it is in the Spring, not late Fall.

Good luck.

Florida is increasingly aggressive about unlicensed brokering.  Get a real estate license.

 A property manager should know better.  You are going to end up putting your clients in a very bad place.