Realtors: Odd Seller’s Request |
- Odd Seller’s Request
- My first listing didn’t appraise
- Medium for sharing walkthrough videos with buyers
- Content
- [Seattle, WA] Choosing a Brokerage
- What printer do you guys recommend?
- Becoming a reale estate agent in Ontario
- Looking to start investing
| Posted: 11 Sep 2020 04:29 PM PDT Ok so I'm not catholic, but my sellers asked me to bury a statue of Joseph in their front yard (they live in another state). I feel so awkward doing this. Anyone else?? [link] [comments] |
| My first listing didn’t appraise Posted: 12 Sep 2020 09:21 AM PDT New agent here. Need to vent. Enlighten me as well if you feel inclined. Tl;dr: My first listing was a drive by appraisal and didn't appraise at the buyers offer price. Even though we are getting a 2nd appraisal that will be in person, I fear we still won't make appraisal and the deal is going to fall through. Sellers mentioned if it deal falls through, they will wait till spring to list again. Got my first listing and went live on the market the first week of August. The house is not in the best area, but it has much more sqft than most homes in the area. The sellers also put $40k into remodeling the kitchen and the main level bathroom. Even with these remodels, the rest of the house could use some updates. Nonetheless, it's one of the more larger and nicer homes I've seen in the area. With the home being a larger home and with the recent remodels, we decided to list at $225k. Within 2 days we got multiple offers. The final 2 offers the sellers were considering we're almost identical. Offer 1: Conventional $230k, 2% seller contribution. Offer 2: FHA $230k, 0% seller contribution. I advised my sellers that the FHA deal is the better deal, but they said they didn't want to deal with any FHA BS that might come up, even though they said they were confident their home would pass any and all inspections (which their home did...more on this later). Sellers took offer 1. Buyers had their inspection and it came back very clean. The buyers still requested about 9 petty things/corrections. My sellers agreed to do 3 of the things requested, as well as give the buyer a $500 credit. Buyer agreed to the 3 things, but wanted $700 credit instead of $500. My sellers didn't budge. Buyer informed their agent that since my sellers won't budge on the credit, they would walk away from the deal. My sellers and myself couldn't believe what we were hearing. They were going to walk away over $200? Their inspection alone was $400. Buyers agent even explained to them that they would lose money on the inspection, and they said they didn't care. Long story short, my sellers agreed to include their Ring doorbell, and that kept the deal going. Next thing was appraisal and I was told it would be a drive-by appraisal due to COVID, as well as appraisals being very backed up state wide. Appraisal came back at our list price: $225k. I couldn't believe it. A lot of homes in a 1 mile radius were listing anywhere from $180k-$220k, with sold prices anywhere from $200k-$250k. I even ran my own comps/CMA right away when the buyers agent forwarded me the appraisal and the comps/CMA I got should have given us the appraisal price we needed. My sellers were not happy, but said they would be willing to sell at $225k, but with no seller contribution. Buyer said no, and that they absolutely need something from the seller. Again, it was explained to the buyers that they were basically getting $5k off their offer price, and that they wouldn't necessarily need seller contribution since they are now ultimately getting a better sale price. Buyer said they understood, but still said no, they want sellers to contribute something no matter what. At that point, I advised my sellers that as sellers, they were in the driver seat and they should be determining the terms, not the other way around. I said that these buyers have already been difficult once before, now they're being difficult again, and that we should just walk away and get back on the market. Sellers asked if we could request a 2nd appraisal, and this time have the appraisal be in person. My sellers (and myself) didn't feel they got a fair appraisal with the drive by appraisal and felt it's only right to have someone come in person. They said if we are able to get this 2nd appraisal and the house appraises at $230k, they will stick with this buyer at the original terms they accepted. I passed this along to buyers agent, who then passed this along to the loan officer, who then agreed to send someone out for a 2nd appraisal, at the loan officers expense (I guess loan officer said he didn't feel the appraisal was accurate either). So we are now waiting for this 2nd appraisal to be scheduled. Not sure when it's going to be. Even with my comps/CMA's and even with the appraiser coming in person, I still fear we will not make appraisal, just because the area is really, really not the best. That's literally the only this holding this home back. Sellers mentioned that if the house doesn't appraise again and this deal falls through, they may wait till spring to list again due their children having just started school and not wanting them to change schools mid year, as well as the market inventory being low for their buying criteria/they don't feel like they'll be able to find the home they want this winter and feel they will probably have a better chance of buying a home that fits their criteria in the spring. Anyway, you never know, we might make appraisal 2nd time around and everything goes through, but the way this deal has gone so far, it's hard for me to be optimistic. [link] [comments] |
| Medium for sharing walkthrough videos with buyers Posted: 12 Sep 2020 01:51 AM PDT I'm not a realtor, but a buyer moving to a new area in a few weeks and have been in touch with a real estate agent that has been showing houses through video. She shows the layout and points out issues, things that may be an issue, or things that will need work, so higher quality videos are pretty important. Her videos are usually about 8 minutes long, about 300mb-600mb. The problem is that I have difficulties getting the videos. She'll upload them to an email but I don't end up receiving anything. Or, she'll post them on facebook, but can only do it in increments of 2:28 and sometimes it won't even send every section. Google drive is cumbersome in that if you don't have a good connection and anything happens to interrupt the upload, it just cancels out. She can't use YouTube anymore because of how YT has changed their rules. What do other realtors use to share their walkthrough videos while maintaining quality? I think it's also important for her to upload it on the go from her phone. [link] [comments] |
| Posted: 11 Sep 2020 09:12 PM PDT Hey, what kind of content do you send out to your clients? What are some of the things that you've got good feedback on? [link] [comments] |
| [Seattle, WA] Choosing a Brokerage Posted: 11 Sep 2020 07:19 PM PDT Recently passed my brokers exam (YAY!!) and now in the process of interviewing brokerages. So far, I've connected with Windermere (multiple offices) and Coldwell Banker Bain, and have interviews set with Compass and John L. Scott. Windermere and CBBain seem to be similar in terms of training, support, and the commission splits come pretty close to each other with Windermere coming in on top. Can anyone share their experience/opinion regarding any of the brokerages mentioned above? Feedback on their training would be greatly appreciated! [link] [comments] |
| What printer do you guys recommend? Posted: 11 Sep 2020 09:08 PM PDT Need a printer strictly for real estate, want to order one online. You guys have any recommendations? [link] [comments] |
| Becoming a reale estate agent in Ontario Posted: 11 Sep 2020 06:37 PM PDT Looking to become a real-estate agent part time for some side income. What's the cost/courses/exams that need to be passed prior to officially becoming an agent? Did some reading and saw an estimate of 7000ish and 24 months to become an agent. Can someonr advise? [link] [comments] |
| Posted: 11 Sep 2020 05:09 PM PDT Hi everyone, I've been in the business now for roughly a year and a half and have been thinking about putting a good chunk of what I have right now into an investment property I've been looking into (I live and do my business in the metro NYC area so property values going to be a lot higher) on average triplexes are going for roughly $600k+ but this one that's caught my attention was on the market for about two months at the height of COVID and the owner took down the listing after dropping the price to $475k (this is a 5 unit 1-bedroom apartment building). I've already run NOI and calculated how much mortgage costs will be and how much I'll roughly have to save for repairs and maintenance but for any other realtor out there that have invested into investment properties or thought about it what's some things I should look out for or take into account before I jump in way over my head? And other than getting the inspection done (if/when I decide to move forward with this and the offer I make gets accepted) what else should I check on before contracts? [link] [comments] |
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