I troll the real estate by owner listings in craigslist, not because I happen to be in the market for a place nor because craigslist is in any way, shape or form an ideal format for serious buyers to find a place (for reasons ranging from ads that make the old four-line newspaper ads seem verbose to the sheer volume of both spam and scam all over the site) but because I’m both looking for future listings and getting a few laughs along the way.
I’ve puzzled over this particular listing since I first saw it yesterday afternoon …
No realtors/brokers – we’d rather give the buyer a better deal – Priced over $10K less than realtor’s suggested selling price.
First off, REALTOR is supposed to be in all caps with a registered symbol at the end. I’m just kidding. Well, sort of. That’s really the kind of thing the National Association of REALTORS worries about in its spare time rather than trimming its own bloated organizational chart and maybe getting health care coverage for its agents. I, on the other hand, couldn’t care less.
No, what’s getting to me is the math here.
This house is listed for $165,000. Now, I’m going to pull a commission figure purely out of the air because all commissions are negotiable and there’s no set commission rate (just in case the Federal Trade Commission has as much time on its hands as NAR.) Let’s just say the “realtor” said they would sell the house for a six percent commission.
Six percent of $165,000, if my math skills are correct, is $9,900.
So, if the owners’ list price really is “over $10k less than realtor’s suggested selling price,” then the seller is costing his or herself at least $100 and probably more, given the “over” in the sentence.
Now, if we’re only talking a benjamin, then it’s probably not all that big a deal. But from the comps I’m looking at, the seller is cutting off his nose to spite his face by not using the agents’ suggested listing price in an effort to “give the buyer a better deal.”
Not that there’s anything wrong with giving the buyer a better deal. I’ve just yet to find a seller who actually is that concerned about the buyer’s finances.
As a seller, if an agent is able to get you a higher net than you can get yourself, why wouldn’t you hire one?
One other quick note from the listing, which caused me to flag it as prohibited.
Most people have a pretty general idea of the Fair Housing Act and what can and can’t be said legally about a particular property/neighborhood etc. if the property is being publicly advertised for sale. Your average seller, however, may not be quite as versed in the various buzzwords, for lack of a better time, that could be interpreted as code for what would be discriminatory advertising.
There’s one word below that could conceivably cause the seller to run into trouble with the Fair Housing Act. Know what it is? Answer in the comments below.
Sunland Village is easily one the cleanest, nicest 55 and over communities in the East Valley – beautiful golf course, pools, and all the amenities one could wish for. An immaculate, safe community full of friendly, active individuals.
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While you’re here, and while we are discussing homes in Sunland Village, take a look at some of the homes currently for sale there …
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