Deb Krantz
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I talked to the property management company hired by the condo association. There are no restrictions on financing and no restrictions on how many can be rental homes. There’s good and bad to the latter part of that sentence. On financing, FHA can give a community blanket approval for financing for a period of time. That approval needs to be renewed every now and again.
So these guys get together once every 7 years or so, and this year they are in Las Vegas October 2-4. I’m signed up. Who wants to share a suite? While not a once in a lifetime opportunity to see most of these speakers in one place, it’s certainly an uncommon opportunity. Send me an email at [email protected].
I hate to keep laboring over this issue, but I am in a pissing match right now with a realtor who does direct MLS listings for about $400. I explained that I would need to be very clear in the listing for the Best Bidder Sale that a buyer’s agent commission was not going to be included in the purchase price, and a buyer represented by an agent would have to pay that agent separately. I got a swift retort that “you are dreaming in full vivid color if you think any agent would participate. Buyer agents bring buyers to a deal because they know how much they are getting paid”.
I fear this is what I will be up against. I just learned that buyer’s agents don’t have to disclose how and how much they are getting paid.
Anyway, does anyone have experience working with a buyer agent that they can share with me?
Please call me as I need to make some quick decisions on this MLS listing.
Thanks,
Deb Krantz
Columbus, Ohio
614-571-6573I’m rolling out the marketing for the Best Bidder Sale next weekend. I wondered if anyone has created a FSBO MLS listing? If so, was it valuable, and how much should I expect to spend? I’m creating a Postlet to use on Craigslist and with real estate agents. I do expect some reaction from agents – hopefully they will get past the “you didn’t list with me” anger and bring their buyers. Agents are very active in this area and I don’t think it wise that I ignore them.
Here’s my marketing plan, in no particular order:
Local large newspaper print and web ad
local small paper print and web ad
MLS listing (?)
Yard, directional and open house signs
Sign spinners at key intersections
Zillow
Trulia
Facebook event
Facebook group posts (with permission)
Postlet
local REIA website
meet-up announcement with RE groups (with permission)
post with neighborhood associations (with permission)Is there anything that I’m obviously missing?
I put out the yard sign and had someone come up and ask about it before I even put the last stake in the ground. I hope that’s a good signal of things to come.
Thanks,
Deb
614-571-6573 (cell and text)Thanks Don and John.
A new wrinkle has come up that I’d like your input
I spoke to a realtor in Florida who occasionally holds a Best Bidder sale. He uses the material from Greg Luther, a broker coincidentally from Columbus who claims to have created the concept.
This realtor felt that I would need either a real estate license or an auctioneers license to hold this sale.
This was in the same conversation that he said he feels these sales are similar to an ebay auction.
In any case I’d like to get your thoughts on this being a potential problem.
He went on to say that he didn’t think these sales work well when the seller is holding the auction, that buyers will resist bidding against the seller’s reserve price. He felt his approach was better, in that he is an “independent” agent holding the sale, and bidders will be more forthcoming about bidding with him.
Again in the same conversation he explained that he gets paid a commission by the seller, coincidentally 3% of the selling price. So he benefits when the price gets bid up, yet he remains impartial to the outcome. I know that is a huge contradiction, but I’m wondering if anyone has that experience, how to overcome that objection with buyers.
Thanks,
DebI’m seeing examples in the file vault of directional sugns, but I don’t see an example of the yard sign that will go in front of the house. Do I use the same sign, only larger, and put a phone number on a FSBO sign in the yard? The examples of the directional signs have the website on the signs but not a phone number.
I checked my numbers again and came up with an average sale price under 1/2 mile of $142210, with a range of $98450 to $179980. All comps are from 7/1/14 and later.
I’m charged up about this possibility. Working now on planning chart and scheduling. I have a helper for placing craigslist ads on a rotating cycle. I might even get a blessing from the neighborhood sign police.
I appreciate the referral for signs. I’ve listened to the coaching calls and looked through Jackie’s and Effros’ books but I don’t see any reference to what to expect to spend on signs. One online sign company has a cost of $2.50/ea for directional signs (if I buy a lot of them in one order) and $199 for a large yard sign. Does that sound about right?
Thanks.
Deb
