[5-DayForum] Having to sell your home if you put it in MLS
Bergland, Kara L (GE, Corporate)
kara.bergland at ge.com
Tue Oct 30 17:07:04 EDT 2007
There are also many companies where you can either buy a spot in the MLS
or do FSBO where there isn't an agent involved.
Kara
________________________________
From:
5-dayforum-bounces+kbergland=gmail.com at mailman.howtosellyourhomein5days.
com
[mailto:5-dayforum-bounces+kbergland=gmail.com at mailman.howtosellyourhome
in5days.com] On Behalf Of David Herring
Sent: Tuesday, October 30, 2007 5:04 PM
To: How To Sell Your Home in 5-Days
Subject: Re: [5-DayForum] Having to sell your home if you put it in MLS
I stand corrected. You owe the agent a commission and are not required
to sell your home if the agent procures a buyer at the price in the MLS.
That is the same rule in CA and AZ.
Do not put you home in any MLS to sell it using the 5 day method. The
agents will want to be paid if you sell your home or not.
David Herring
----- Original Message -----
From: Betty Pauley <mailto:bpauley at a2scolumbiamo.com>
To: How To Sell Your Home in 5-Days
<mailto:5-dayforum at mailman.howtosellyourhomein5days.com>
Sent: Tuesday, October 30, 2007 11:00 AM
Subject: [5-DayForum] Having to sell your home if you put it in
MLS
I couldn't help but jump in. I've heard several times the 'if
you put it in the MLS then you must sell for that'. That is not
accurate. Putting it in the MLS is not a contract with a buyer to sell
at that price. No one can make you do that.
What the issue is, if you list your home with a Realtor, the
listing contract specifies at what price the Realtor will earn a
commission if they bring you a buyer. My listing agreements with owners
state, if I procure a willing, ready and able buyer within the listing
period, at the price and terms they have specified in the listing
agreement, then I have earned a commission and you agree to pay me. It
does not say that you have to sell your house. You can pay me and keep
your house.
When I as a Realtor put your house in the MLS, then I am
entering into a contract with all the other Brokers that if they bring a
willing ready and able buyer at the price I have advertised in the MLS,
then I owe them a commission. Realtors don't like it if you advertise
an artificially low price and they go out and work to find a buyer, only
to find that you are unwilling to sell at that price. This is the
biggest reason that Auctioneers and Realtors have never been able to
work together very well is that Auctioneers don't want to put a price on
the property that if another agent brought a buyer they would get paid
even if the owner then refused to sell.
The listing agreement between the seller and the listing agent
is a contract. If I bring a buyer at this price and terms, I will get
paid. It is not a contract to sell.
When I, as a broker put it in MLS, that is a contract that I am
then extending to cooperating agents that if they procure a buyer, I
will share my commission with them.
Don't put your home in the MLS at a price you are unwilling to
accept. You won't have to sell your house, but according to your liting
contract, would owe your agent a commission and they in turn would owe a
portion of that commission to a cooperating agent.
****************************************
Betty Pauley, ABR, GRI, CRS, SRS, Broker
Licensed Auctioneer
Assist2Sell Buyers and Sellers Realty
2000 S. Forum Blvd. Suite 4
Columbia, MO 65203
Office: 573-234-2345 ext. 233
Mobile: 573-268-7454
Fax: 573-234-2860
mailto:BPauley at a2scolumbiamo.com
http://www.TeamAssist2sell.com
<http://www.teamassist2sell.com/>
****************************************
-----Original Message-----
From:
5-dayforum-bounces+bpauley=a2scolumbiamo.com at mailman.howtosellyourhomein
5days.com
[mailto:5-dayforum-bounces+bpauley=a2scolumbiamo.com at mailman.howtosellyo
urhomein5days.com]On Behalf Of Bill Effros
Sent: Tuesday, October 30, 2007 12:38 PM
To: How To Sell Your Home in 5-Days
Subject: Re: [5-DayForum] You're a Woman!?
Wow!
Now I've got to recalibrate, again!
Yeah, I'd change the picture.
Everybody is saying the same thing about October, and
we're on the leading edge of information.
I like your site even if you're not a woman. You have a
lot of services to offer, and your prices seem fair. The advice you
have given on this Forum has been extremely helpful, both to me, and to
people who know less about the 5-Day Method than you.
Bill Effros
Terry Wigfield wrote:
I am NOT a woman. Don't ask me why they used
that but that is a picture the web company pulled from their stockpile.
I guess I will need to update that at some time.
Here is some info you may be interested in.
October has been the slowest month for home inspections since I've been
doing them.
Terry Wigfield
HouseMaster
301-791-7216 fax
terry.wigfield at housemaster.com
________________________________
From:
5-dayforum-bounces+terry.wigfield=housemaster.com at mailman.howtosellyourh
omein5days.com
[mailto:5-dayforum-bounces+terry.wigfield=housemaster.com at mailman.howtos
ellyourhomein5days.com] On Behalf Of Bill Effros
Sent: Tuesday, October 30, 2007 9:13 AM
To: How To Sell Your Home in 5-Days
Subject: [5-DayForum] You're a Woman!?
Terry,
You're a woman?
I just went to your site for the first time.
That person there...that's you?
I am simply flabbergasted. I know it's
politically incorrect to admit it, but I can't remember any email
correspondence I've ever had (and I've had a lot of them) where it took
me this long to realize I was picturing a man when the other person was
a woman or vice versa.
Now I have to go back to read all your email in
a whole new light.
Good for you!
This is a life-changing experience for me. I'm
only half kidding.
Bill Effros
Terry Wigfield wrote:
Bill,
Hope you enjoyed your vacation, I've tried to
avoid giving you more to catch up on. I've added my two cents where I
felt I could contribute. I thank you for keeping an open mind about the
signs. You have told others to treat all the buyers the same you can
never tell who the buyers may be. I believe that is also true about the
methods of advertising. You can't tell where your buyer may come from.
I have no doubt classified ads in newspapers are
by far the best form of advertising a 5 Day Sale and should always be
the primary form of advertisement. But, additional exposure just can't
hurt. I plan to provide a form to record location of all signs, so that
they may be retrieved after sale. Signs are not illegal in my area and I
never really thought of that aspect. Here they are common and I can see
why they would be prohibited. They definitely need picked up after sale.
I will need to tell all to check their local ordinances.
When you get time, look over my web site and let
me know your thoughts. I put these items together after observing what
the members on the forum where asking for. There is very little
available for the 5 Day Sale method and for those who don't have the
time, they now have another option. I believe the "Ad" sign is a good
solution to the problem of no phone number. Notice no address; they have
to call to get location. I would have to agree with you the directional
signs found elsewhere are not appropriate for a 5 Day Sale. I believe
signs and flyers are the second best form of low cost effective
advertisement and are a good supplement along with newspaper ad. Just
putting my plug in for signs and flyers.
I believe, as you, that web sites are
unnecessary and are not effective. You cannot get a web site recognized
by search engines in 5 Days. I'm told it takes months. Google still
doesn't find my site, even though it's been optimized. But it's only
been published for a week or two. Internet classifieds are fine if they
are free. Yahoo has a good paid site around $50 to $60 for a 21 day
period. Problem is, there are so many internet classifieds, and which do
you choose? Which one will buyer choose? The ad blaster programs don't
work well for major RE classifieds and will not get you on any of the
major class ads. But that is a whole different topic.
Terry Wigfield
HouseMaster
terry.wigfield at housemaster.com
www.5daysale.biz
________________________________
From:
5-dayforum-bounces+terry.wigfield=housemaster.com at mailman.howtosellyourh
omein5days.com
[mailto:5-dayforum-bounces+terry.wigfield=housemaster.com at mailman.howtos
ellyourhomein5days.com] On Behalf Of Bill Effros
Sent: Monday, October 29, 2007 11:42 AM
To: How To Sell Your Home in 5-Days
Subject: Re: [5-DayForum] Marketing signs
Terry,
Thanks for all the help you provided on the
Forum while I was on vacation.
I have only been following your activities with
one eye, because I haven't had the time to catch up with everything, but
I will start responding more directly to your comments. Thanks, also,
for your patience.
The 5-Day Method evolves as people bring their
experiences. I re-write the book to reflect changes as they are proved
over time. This Forum is a work-in-progress to allow people to adjust
techniques between editions.
The signs issue is tricky, and I will continue
to think out loud. The signs are flat out illegal in some places, and
in violation of gated community rules in others. They have been the
source of a lot of a lot of mischief, and they often attract people who
you would sooner not attract. At the same time, they always increase
the "action", and, especially for first time 5-Day Sellers, it is easy
to confuse the action with the result.
Keep calling them as you see them, and let us
know what you advise based on your experience.
Thanks, again, for all your help -- it has been
appreciated.
Bill Effros
Terry Wigfield wrote:
Galina,
I have been reading the forum since July and
occasionally reply if I have something to add. I tell you this in case
you have not been following the forum during this time and are
unfamiliar with me or any replies or post I have made in the past. You
should be able to find these in the archives.
One thing I noticed was the lack of marketing
aids for those doing a 5 day sale. Most signs available are for someone
doing a FSBO but are not geared toward the 5 day sale. I have since put
together signs for a 5Day Sale, flyers and some other marketing
materials. Most signs are simply directional signs that simply point
toward the direction of home. Bill, the author, does not promote the
use of signs and gives two reasons. 1) The signs do not give phone
number, hence you have no way of including these persons in your 25
responses 2) The phone call is the time to answer questions about the 5
Day Sale method and to put the buyers at ease with this method. These
signs do not give you the opportunity for either.
I believe I have found a solution to the above.
Newspaper classifieds should be your primary method of advertising,
however any cost effective means of reaching the buyers can't hurt in my
opinion. Maybe, Bill will jump in on this later. I have put together
some signs which have the traditional directional signs (to be put out
for directions on Sat and Sun), but also have your classified ad on
signs complete with phone number. These signs are to be placed out from
Wednesday through Sunday (same as ad in paper) to get additional
responses. The way I do this is to have the common 5 Day Sale
information printed but leave the house and contact information blank.
You may then place this information on the signs yourself with a marker.
I have put together some packages on my web site www.5daysale.biz
<http://www.5daysale.biz/> . These signs are relatively cheap for
coroplast plastic signs and include shipping. I say relatively because
to get the best price a person has to have printed a minimum of 100
signs each. Price goes up dramatically 10x for small runs. I searched
for printers, trying to find one that had better pricing for small runs
of customized signs. They where all about the same about $15 to $20 per
sign (once you added 2 color print, stakes, shipping, double sided
ect.). If you would like different amount of signs than shown in
packages or have questions, you may email me directly at
terry.wigfield at housemaster.com
There is another company on web that has the 5
day directional signs only, and they are more expensive. I do not know
of anyone who rents signs, probably due to shipping cost (approx $60).
Last, you can make your own signs but make sure
you have the time.
After newspaper ads, Signs and Flyers are
probably the most cost effective. Free internet classifieds are fine
also. I would stay away from web sites, due to the cost and it takes
time to get your ad discovered by search engines. Since there are 1000's
of classifieds your ad is like a needle in the haystack and the chance
of getting found by the buyer in 5 days is unlikely. I would have a web
presence if I was doing a regular FSBO but not a 5 day.
Best Wishes
Terry Wigfield
HouseMaster
301-791-7216 fax
terry.wigfield at housemaster.com
________________________________
From:
5-dayforum-bounces+terry.wigfield=housemaster.com at mailman.howtosellyourh
omein5days.com
[mailto:5-dayforum-bounces+terry.wigfield=housemaster.com at mailman.howtos
ellyourhomein5days.com] On Behalf Of Galina Grechka
Sent: Saturday, October 27, 2007 10:49 PM
To:
5-dayforum at mailman.howtosellyourhomein5days.com
Subject: [5-DayForum] Marketing signs
Hi All,
I'm going to run 5 days sale some time in
November.
Do you know where I can get these attractive
marketing sings with directions for reasonable price?
Can I rent them somewhere?
Another question: what day to put these signs?
Only Sat - Sun or earlier?
Galina
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