[5-DayForum] (no subject)

Tue Jun 5 13:21:30 EDT 2007

Hi all.  I've been a forum eaves dropper for a couple of weeks in
preparation for my own 5 Day Sale in Atlanta and haven't jumped in with
questions or opinions, but after reading Bill Effros's statement that: "

We can't keep answering the same questions over and over as new people come
on the list.  New people should start answering the oft answered questions
for the even newer.".  My thought is why not develop a FAQ section to cut
down on the redundancy

Thanks to Bill especially whose daily life seems continually involved with
the forum and his concept and thanks to all who have offered to assist the
forum's members.

Jay Kaufman

jay at onthewallstudio.com 

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From:
5-dayforum-bounces+kcg007=bellsouth.net at mailman.howtosellyourhomein5days.com
[mailto:5-dayforum-bounces+kcg007=bellsouth.net at mailman.howtosellyourhomein5
days.com] On Behalf Of Bill Effros
Sent: Tuesday, June 05, 2007 12:55 PM
To: How To Sell Your Home in 5-Days
Subject: [5-DayForum] List Mechanics II

Thanks, Jean,

And Paul, too.

We can't keep answering the same questions over and over as new people come
on the list.  New people should start answering the oft answered questions
for the even newer.

Meanwhile, the people who have been on the list for a while, and those who
bring more experience to the list should answer, on-list, so everyone can
expand their horizons.

It is perfectly acceptable for people to make money plying their trade on
this Forum as long as the offer to help for a fee does not become obnoxious.

Some people are looking for help for a fee.  This question does not have to
be asked back-channel.

Bill Effros

Jean McCormack wrote: 

In Illinois there is absolutely a problem with Realtor commissions. If you
gave them exclusive right to sell, they collect whether you sell or they
sell. If you sell by owner after your listing expires with your agent, the
agent has claim to a commission (usually for 30 to 90 days) to any buyer
that had seen your home during its time with them. The work around is to
re-list with another agent. The first agent then has no claims. And don't
think they won't be watching. I've been involved with our local board and
seen agents that have enough time to read all the public documents to find
such an opportunity. One case I was involved in, the first agent was awarded
the money. Be careful, you could do the work and they could collect a
commission. So, just cancellation alone is not enough; you'll have to
re-sign with another firm to avoid paying the first firm. Read your fine
print. Or wait the cooling off period which is 90 days here.

OK, now you ask, "So, how do I get around those big commissions? How do I
avoid the MLS?". Easy, there are real estate firms that do this for a
living, nationwide. Many of the discount real estate firms will offer to
sell your home for a flat fee, directly to the public. Do you need to pay
them what they ask? No, of course not. Everything is negotiable, just make
sure you are speaking with the owner. They can wheel and deal. We once got a
call from a FSBO asking us to help with paperwork and inspections. They
offered about $1000, we said fine. You'll need to sign a contract, and
notice of no MLS or something like that in your state.

Read your contract.

Good Luck
Jean McCormack
 (a broker owner agent in Illinois)

Paul Miller wrote: 

Julie, 

I think your realtor or a realtor that brings a client to your inspection
could claim a commission.  I'm cancelling my listing before I start. 

Paul 

From: "Julie Batt"  <mailto:Julie at batt.com> <Julie at batt.com> 
Reply-To: How To Sell Your Home in 5-Days
<mailto:5-dayforum at mailman.howtosellyourhomein5days.com>
<5-dayforum at mailman.howtosellyourhomein5days.com> 
To:  <mailto:5-dayforum at howtosellyourhomein5days.com>
<5-dayforum at howtosellyourhomein5days.com> 
Subject: [5-DayForum] Using 5 Day after home was listed on MLS 
Date: Sun, 3 Jun 2007 20:23:21 -0700 

Finally finished the book, anxiously watching the sales of those in 
progress, and have a couple questions... 

Do you see any potential problems or changes for people who want to utilize 
this 5 day sale method even though their home was previously listed on the 
MLS with a traditional method? 

The book mainly speaks from the standpoint of trying the sale BEFORE one 
lists or INSTEAD of listing.  My house has been listed for 4 months, and I 
just found this method.  I started out at $475K, what we and my realtor 
thought was VERY competitive, and have since dropped the price twice.  I've 
currently been at $435K for 3 weeks.  I seriously can't afford to loose 
anymore money, else I might be forced to become a renter for a while, but we

can't afford to stay in the house either.  My thought is if no one is 
willing to pay $435 with the wide spread exposure it has now, it doesn't 
seem very likely someone would be willing to pay $410K ( minus 6% 
commission) using this 5 day method.  Thoughts? 

Julie 

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