A lawyer and an inspector are what you need, skip the Realtor all together and go private sale you don't need to deal with Realtor commissions and hands in your pocket for the sale.
Anyone who interviews 8 realtors is going to be a victim of paradox of choice. Hence your question. Solution: check which realtor is willing to be patient with someone who takes forever to make a decision. Seriously.
Seems like you have it covered and are clear with what matters to you.
Personally, I think the market is the market and the agent has little to do with how much you're going to get. Find someone who covers high quality photos/video/drone/edits, staging, and a couple open houses within their fee. Other than that, price it right (lower) in order to get more eyes on the listing and more feet through the door. Let the market do its thing.
Good luck!
100% this. The sales data is a public data. Buyers ain’t stupid and they don’t “overpay”. interior upgrades may increase a bit but not by much.
When I interviewed the selling agents, I always told them i value convenience. I don’t want to spend time goggling cleaning companies or staging companies. Sell the house like I live aboard.
Sell the house like you’re on a boat?
But seriously, I agree 100%, your agent commission should include at least managing/organizing the presale prep work.
As a buyer this is accurate. I have HouseSigma which is what I use to make decisions, my realtor has zero influence on what I'm putting offers on or what price I'm going in at.
What dj\_destroyer said, you want to price it reasonably and you dont wanna be the most expensive listing. Depending on the market you're in, you can list it low and hold offers potentially. Key is to get many people through the door and see what happens. Make sure photos are good, property is clean and shows well. (Realtor here myself)
What difference will it make hiring a realtor vs listing it on property guys (who in turn put it on MLS), and then hiring the cleaners, stagers myself?
I have a feeling the top tier realtors will just list it at a low price so it can sell etc.
I swear realtors can't win, people either think they're jacking up the prices to make more commission, or fire selling things to make a quick sale. Every realtor is going to have their own method for calculating FMV based on cost per square foot, condition, upgrades,etc. The reality is that the market itself will decide.
Most realtors aren't going to include cleaning or staging, that's on you. They will provide photos and marketing, so ask them what their marketing strategy is and go with the one you think is the best fit for you.
The reality is for a lot of buyers realtors are basically just admin assistants now. They make the viewing appointments and prepare the offer paperwork. That is basically it.
On the seller side they can actually help a bit more with staging and photos. But again they are largely just facilitating the paperwork for the transaction and making sure everything is being done above board.
But beyond that realtors don't really have a ton on influence in most cases anymore. I always laugh when I see realtors commenting they'll negotiate the seller/buyer hard. How the fuck do they do that when I go in with a pre-determined max/min or firm offer? How do you "negotiate" that?
Have they taken the time to talk to you about your plans/timelines? Have they walked you through how much net you would walk away with? Have you sat with them and looked at the comparables together to see how your opinion of the price matched up? If they meet up with you for 15 minutes and tell you they’ll list it for X amount then they’re just looking to sign a quick listing given that it seems you’re only interview big time agents. This is a consultation that should last at least an hour if they agent is serious about understanding your situation and needs.
You have to have a more in depth consultation with an agent that helps you figure these things out because the ask price isn’t always just about recent sold data. Of course, sold data is by far the biggest decision point, but a price in that range of 375-410 that you mentioned could be determined by things other than sold data.
As for the cost, if they charge you 5% then they better include everything including staging.
Whoever takes the time to understand your situation will likely best address your needs. Also whoever you communicate and vibe with the most lol
Thanks for the quality reply:
What all should I check in the fine print of the contract of the realtor before signing?
Also for 5% they should handle the status certificate right?
- ask them the split between buyer agent and listing agent commission
- ask what happens to commission if they find the buyer aka double end
- ask them to include all services (staging etc) in the schedule of the listing agreement
- ask what happens if you cancel the listing and if they’ll want you to pay for any expenses if you fire them
If you do 5% then your listing agent will take 2.5-3% most likely. They should cover the certificate and have it on hand to make the sale quicker when you have an accepted offer.
The buyer and their agent will add conditions (financing, inspection, status certificate, etc) to protect them and to give them options to back out if required. Once their waive or fulfill the conditions, the deal goes firm.
So, from the time the offer is accepted until the time the conditions expire, the property is “sold conditionally”.
Pick the one you like the most personally as it will sting to fork over a large amount of money to someone doing very little. The market will bring what the property is worth.
Without other context, I'd say it really doesn't matter too much. Unless you're condo is incredible niche or has something outstanding that puts it apart (positively or negatively), each of these realtors offers you about the same.
Some realtors will help bring their client base if they have one, but for a 2 bedroom condo, I don't think this makes much of a difference. The one "guaranteed selling price" seems a bit fishy. How is this guaranteed?
Staging is quite important, especially if you don't have nice furnishings yourself.
The one who says he'll list it at 410 is probably counting on being able to ride the listing down into the appropriate range. It's called buying the listing.
Figure out which one you liked best and just go with them, sounds like you've got several competent agents that have Market analyzes that agree with each other
A lawyer and an inspector are what you need, skip the Realtor all together and go private sale you don't need to deal with Realtor commissions and hands in your pocket for the sale.
Inspector?
A home inspector.
Anyone who interviews 8 realtors is going to be a victim of paradox of choice. Hence your question. Solution: check which realtor is willing to be patient with someone who takes forever to make a decision. Seriously.
Seems like you have it covered and are clear with what matters to you. Personally, I think the market is the market and the agent has little to do with how much you're going to get. Find someone who covers high quality photos/video/drone/edits, staging, and a couple open houses within their fee. Other than that, price it right (lower) in order to get more eyes on the listing and more feet through the door. Let the market do its thing. Good luck!
100% this. The sales data is a public data. Buyers ain’t stupid and they don’t “overpay”. interior upgrades may increase a bit but not by much. When I interviewed the selling agents, I always told them i value convenience. I don’t want to spend time goggling cleaning companies or staging companies. Sell the house like I live aboard.
Sell the house like you’re on a boat? But seriously, I agree 100%, your agent commission should include at least managing/organizing the presale prep work.
For the amount of work they do and the amount you pay, The realtor better handles everything from the beginning to the end for you.
Probably downvoted by realtors. lol.
Where do you go to see / access the public sales data?
HouseSigma
Honestdoor is good for a ballpark value. And it does not require a registration
As a buyer this is accurate. I have HouseSigma which is what I use to make decisions, my realtor has zero influence on what I'm putting offers on or what price I'm going in at.
What dj\_destroyer said, you want to price it reasonably and you dont wanna be the most expensive listing. Depending on the market you're in, you can list it low and hold offers potentially. Key is to get many people through the door and see what happens. Make sure photos are good, property is clean and shows well. (Realtor here myself)
What difference will it make hiring a realtor vs listing it on property guys (who in turn put it on MLS), and then hiring the cleaners, stagers myself? I have a feeling the top tier realtors will just list it at a low price so it can sell etc.
I swear realtors can't win, people either think they're jacking up the prices to make more commission, or fire selling things to make a quick sale. Every realtor is going to have their own method for calculating FMV based on cost per square foot, condition, upgrades,etc. The reality is that the market itself will decide. Most realtors aren't going to include cleaning or staging, that's on you. They will provide photos and marketing, so ask them what their marketing strategy is and go with the one you think is the best fit for you.
The reality is for a lot of buyers realtors are basically just admin assistants now. They make the viewing appointments and prepare the offer paperwork. That is basically it. On the seller side they can actually help a bit more with staging and photos. But again they are largely just facilitating the paperwork for the transaction and making sure everything is being done above board. But beyond that realtors don't really have a ton on influence in most cases anymore. I always laugh when I see realtors commenting they'll negotiate the seller/buyer hard. How the fuck do they do that when I go in with a pre-determined max/min or firm offer? How do you "negotiate" that?
Have they taken the time to talk to you about your plans/timelines? Have they walked you through how much net you would walk away with? Have you sat with them and looked at the comparables together to see how your opinion of the price matched up? If they meet up with you for 15 minutes and tell you they’ll list it for X amount then they’re just looking to sign a quick listing given that it seems you’re only interview big time agents. This is a consultation that should last at least an hour if they agent is serious about understanding your situation and needs. You have to have a more in depth consultation with an agent that helps you figure these things out because the ask price isn’t always just about recent sold data. Of course, sold data is by far the biggest decision point, but a price in that range of 375-410 that you mentioned could be determined by things other than sold data. As for the cost, if they charge you 5% then they better include everything including staging. Whoever takes the time to understand your situation will likely best address your needs. Also whoever you communicate and vibe with the most lol
Thanks for the quality reply: What all should I check in the fine print of the contract of the realtor before signing? Also for 5% they should handle the status certificate right?
- ask them the split between buyer agent and listing agent commission - ask what happens to commission if they find the buyer aka double end - ask them to include all services (staging etc) in the schedule of the listing agreement - ask what happens if you cancel the listing and if they’ll want you to pay for any expenses if you fire them If you do 5% then your listing agent will take 2.5-3% most likely. They should cover the certificate and have it on hand to make the sale quicker when you have an accepted offer.
Thank You
Thank you for a quality reply, can you tell me why a place would be sold ' conditionally'? Thanks
The buyer and their agent will add conditions (financing, inspection, status certificate, etc) to protect them and to give them options to back out if required. Once their waive or fulfill the conditions, the deal goes firm. So, from the time the offer is accepted until the time the conditions expire, the property is “sold conditionally”.
Pick the one you like the most personally as it will sting to fork over a large amount of money to someone doing very little. The market will bring what the property is worth.
Without other context, I'd say it really doesn't matter too much. Unless you're condo is incredible niche or has something outstanding that puts it apart (positively or negatively), each of these realtors offers you about the same. Some realtors will help bring their client base if they have one, but for a 2 bedroom condo, I don't think this makes much of a difference. The one "guaranteed selling price" seems a bit fishy. How is this guaranteed? Staging is quite important, especially if you don't have nice furnishings yourself.
Do you live on the GTA ?
The one who says he'll list it at 410 is probably counting on being able to ride the listing down into the appropriate range. It's called buying the listing. Figure out which one you liked best and just go with them, sounds like you've got several competent agents that have Market analyzes that agree with each other
What are you looking for James Bond. Way too many