Quote:
|
Originally Posted by B-Line
I bought my home in 2003, right before the market surge. I also put about 70% down in cash and secured a 30 year, 5.75 interest rate on the rest.
- My point is, my monthly nut on my current property is considerably less (about 1/2) of what I could reasonably rent my home for. - Since I have a great interest rate for 30 years and can use my current home as an income property, I see no reason to sell at this time. I'd rather wait for the market to rebound. Worst case scenario, I rent the house at cost and sit on it.
In response to X5guyinLA,
Please don't take offense but I would no sooner let a real estate agent negotiate on my behalf than I would allow my dentist to pick my stock market portfolio. - Real Estate agents have NO serious qualifications or educations that would prepare them to negotiate million dollar deals on my behalf. A real estate agent might be an ADVISOR but more than anything, they are a messenger. They do not have Power of Attorney on my behalf and I do not authorize them to negotiate for me. Real Estate agents are never interested in getting their customer in a home at the BEST price, their primary concern is just getting them in a home so they can move on to their next sale. And any way you slice it, the more the home costs, the more money the agent makes.
- Agents can pull comps, be familiar with schools in the area, suggest trends, but they are certainly not going to offer any more or less than the exact dollar amount I tell them.
Again, I'm just talking hypothetical anyway. Unless I can pick up a home at that is as good a bargain as stocks are now, FORGET IT, I'd rather keep my money invested. If stocks have dropped 50% and home values have dropped 20%, I'm better off staying in the market. But I still have my eyes open for a phenomenal opportunity, should one arise.
|
no offense taken, but that just sounds like either you haven't worked with agents that know what they're doing or just had a really bad time with one. You're right, all we need is a real estate license and we're an agent. That can be said for stock brokers and financial planners. They do the same thing we do except with stocks, mutual funds, etc. We are advisors because ultimately it is the client's decision. If you think that all we do is tell the other agent what you want, then you're mistaken. My job when working with a buyer is to bring the Seller's agent over on to our side and convince the seller to take our offer. Just telling them what you want isn't going to get the deal done. At the same time, I'm not only negotiating with the other agent, but also with my client. I have to convince the client that if a price they're offering is too low, why it's too low and if they really want the property, what it should be at. If the client is reasonable, that's not something I really have to do, but in this market, everyone wants a property at half price and that won't happen on the Westside. I can't speak for other agents or any of the ones you have worked with, but to say agents never are interested in getting the Buyer the best price is ridiculous. The amount I lose in my commission from getting a lower purchase price for my client is more than made up for in the referrals I'll get because my client knows I'm working in their best interest. It may not have seemed like we were trying to get the Buyer the best price when the market was crazy, but that is because we were competing with multiple offers and to secure a property required going over what the other offers were. Do you mean to tell me that if an agent thinks that you can get a price lower than what you're willing to pay, you won't try? There is no harm in seeing if we can save you a few thousand.