Tag Archives: Perinton

For Sale by Owner (FSBO) in Rochester NY

Rochester NY’s FLAT FEE, FSBO Leader

 

You have heard about “Location, Location, Location” in real estate but when you are selling your homes by owner you have to think about INFRASTRUCTURE, INFRASTRUCTURE, INFRASTRUCTURE!  Why? Because if you hitch your wagon to the wrong star you run the risk of leaving lots of money on the table.  

 

List2Move (formerly called FlatFeeRochester.com) was started right here in Rochester NY almost 7 years ago with the idea that if you give the sellers the RIGHT tools (the same ones the agents and brokers use) and a little coaching along the way, that they would be able to successfully sell their own real estate.  Well Rochester, it is working really well!  We can tell you with confidence that by listing with List2Move.com you have a 42% better chance of not paying any co-brokers commission at all. (And much better service and better signs than anyone in or out of town!)  We have saved our homeowners (our neighbors) over a $1,000,000 (million)  in commissions!

 

That being said, it is also true if you go with the cheapest service out there you are going to get some real cheesy looking signs, and little if any infrastructure which makes a big deal if you are really trying to save the most money.  So if you want to save the most money, have the least amount of problems and sell quick there is still only one real contender, the market leader….List2Move.com

 

 

 


Change commissions after accepted offer?

 

One of the requirements for gaining access to MLS as a For Sale by Owner or as any full service real estate client is an offer of commission.  It can be as low as one dollar (as with List2Move.com) but you have to make a blanket offer of commission and it has to be documented in the listing agreement (Contract)!  This “offer” basically says, “if you (a Realtor) bring me an offer that I accept, I will pay you (that Realtor) “x” amount of dollars or percent!!!!  It is contractual, it is specified in the MLS and only Realtors who have access to the MLS database can see it!!!!!   Again, it is contractual because we are dealing with money….which should make cents, right?

 

Negotiation of the commission can only happen before the contract is signed!

 

Real life story….

I got a call this morning from an agent who has an accepted offer with a seller.  She tells me that the seller who is offering 1.5% says they are going to pay less because the buyer came in before they put the home on the MLS without a Realtor, however, the contract was drawn up by a Realtor with the Realtor’s name on it naming the Realtor’s company as the procuring cause of the sale.

I looked up the offer of compensation on our listing agreement, and it read 1.5%.   Seller didn’t renegotiate with Realtor before accepting the offer and therefore, most likely, the Realtor will be paid the full 1.5% commission.

What the heck is a Brokers Open?

Think of it like an Open House just for sales agents, except filled with smoke and mirrors.

OK, so here’s how it works.  Broker’s will tell sellers that they are going to ‘expose’ the home to other brokers as a way to gain exposure and educate them on the homes features and benefits.  Sounds logical doesn’t it?

So the listing agent will send out an email to all the agents and brokers advertising their open house,  and to get them to show up, they tell them that there will be a free lunch or there will be some drawing of some prize.  The next hurdle is getting someone else to pay for that lunch/prize, so they will grab a mortgage broker who wants to get exposure to new referral sources (agents) to supply the goods.

The hungry agents come for free goods, talk a little shop, eat…talk a little more shop, pound some desert and oh yeah take a look around and leave.   But before they leave the listing agent asks them if they can make any RECOMMENDATIONS…Most agents will suggest reducing the price or staging or some combination of both, like they just solved a mystery.  “hmmm, you should think about dropping the price 5 or 10 thousand dollars and see how that works”

Then the listing agent goes back to the sellers and tells them how successful the open house was, and that 8 out of 10 agents suggested a price drop.  That way it was a third party suggesting the price drop, not the guy who told them he could get a million dollars for the 200k home in return for signing that 6 month listing agreement.

Very clever, but Brokers Opens are not effective in selling homes.  There is no efficacy here at all since most brokers and agents have very very little control over their buyers today!    Buyers are telling agents where to go, not the other way around.

 

 

Hustling Rebates In Real Estate

A real estate commission rebate is not considered taxable income!

What does that mean?  Well, it means you would get tax free money back soon after closing on your next home or property!!!!  Sounds good but not many Realtors are offering it.  Yet.  However, once you know about real estate rebates, you would be crazy not to seek out the largest one you could find! It really is that simple.

Let’s face it you are going to do the majority of the work finding and purchasing your new home and that is a fact!  So why not treat this like a business deal which it is and shop for the best rebate you can get.  Hey, everyone knows a real estate agent or ten, but this is BUSINESS, don’t make the costly mistake and make this personal.  Ask them all what kind of rebate you can expect from them when you use their services.  Remember it is your money that you are bringing to the table so get some back!

List2Move.com in Rochester and Syracuse, NY have been offering hefty rebates over the last couple years but so few people actually get it!  This can add up to literally thousands of dollars, that you were bringing to the closing table either way!!!!

Check your state to see if commission rebates are legal.  New York State allows real estate commission rebates!

Perinton, NY Single Family Current Stats 2008 vs 2009

As of today, there are there are a total of 87 single family houses sold and closed.  Last year to date there were 240 sold and closed.

As of today, the average time on the market market was 23 days,  compared to last year at 38 days.

As of today, the average square footage sold is 2113 vs. last year at 2082

As of today, the average list price of the sold properties is $220,724 compared to last year at $225,038

As of today, the average selling price is $213,683 compared to last year at $218,929

As of this year the highest price paid is $535,000 vs. last year at $775,000

There are currently 197 properties for sale in the town of Perinton.  These properties range from $104,900 to $725,000.  The average time on the market is as of today 65 days.  The average square feet is 2499 with $275,484 as the average asking price.

There are 90 single families currently under contract ranging from $74,900 to $599,000 in list price.  The average list price is $227,446.  The average square feet is 2082.  The average days on market range from 1 day to 253 days, with the average being 38 days as of today.  $300,000 plus priced houses averaged 33.91 days on the market.

There were 43 properties withdrawn from January 2008 to July 1, 2008  with the average asking price of $243,176.  These properties were on the market for an average of 74 days and averaged 2167 square feet.

Currently there have been 33 properties withdrawn from the market this year, with the average asking price of $295,584 at an average of 2640 square feet.