/biz/ - Business & Finance

>>16376420
You are sofaking dumb.

nobody here has owned a house

>>16376420
lol, just accept you're out $50k.

>>16376420
that's gonna sting

>>16376420
I purchased my current house "by owner". It was much easier that using realtors. Realtors are overated and ovsr priced.

>>16376420
And this, gentlemen, is why home ownership is a meme

>>16376420
1031 exchange it

>>16376610
Cope

>>16376610

Stay poor kek

>>16377249
>>16377272
Nice try boomers, not buying your bags faggots

>>16376420
? It should only be around 1-2%. What are you talking about??

>>16377301
Industry standard in the US anyway, is 6% zoomer

>>16376420
moron

>>16376420
I have sold a house myself. Definitely worth it to skip realtor fees. There was a woman by me who runs a business where she basically helps you through the process. She is a licensed realtor, and she just sent us all the paperwork, told us what we need to do, and offered consultation for any questions we might have during the process. Charged a flat rate of $300. It seems like a ripoff but it was actually really helpful.

>>16377847
As a realtor, you are most likely going to suffer by following this advice. There is statistical evidence that homes sold by Realtors net you more despite commission. Which is obvious if you aren't a paranoid schizophrenic. That being said, some cases will of course be the exception. Good luck rolling the dice. Reminder that Realtors only get paid commission when they sell your house.

>>16377847
Thank you anon, that is very helpful advice

>>16377899
Interesting info. Definitely something to consider!
I’m wondering if the realtor who sold us the house would be willing to give us a better rate since we just bought the house a few month ago. I guess it’s worth asking!

>>16376420
Grow weed in it faggot

>>16376420
hahahahha

>>16377899
Wrong. I sold my house for $30,000 more than I bought it for(from a realtor) despite not putting in $30,000 of upgrades. A house is worth exactly as much as someone is willing to pay for it, and realtors are not magicians. They arent magically going to make your house worth 6-12% more than market value. If you claim otherwise, it means you are engaging in illegal activities with the opposite parties realtor, which ends up only benefiting the realtors involved(provided you are not caught).

Why not rent it out?

>>16378284
If he's moving far he'll need to have someone to manage it for him. Probably doesn't have the money for another down payment or the income for 2 mortgages either.

>>16376420
You could go with a discount realtor like Redfin and only pay 1-1.5% selling commission. You're still on the hook for the buyer's agent's commission though. If you're in a city with a strong housing market, you probably would be fine with the discount retailer - the house will sell itself. I think going straight up FSBO will dissuade a lot of potential buyers though.

>>16378429
Good advice, I think you’re right. Thanks man

ignore the discount realtor advice. either hire someone or don't. there's no good middle ground here. you want someone working for you who's motivated to sell at the right price. if you hire a shit realtor, they're either going to try to talk you into a cheaper listing than you should, so that they can sell it asap with little effort on their end....or their just going to list it and sit back passively until a buyer comes along, in which case you're just throwing money away. hire a professional if you're going to hire someone.

>>16378048
Daytrader logic. "Oh one guy did it, therefore that should be the standard approach despite statistical evidence showing them to be an exception."

>>16376420
I think that a lack of job security is what really prevents people from buying homes these days. I see people that make like 100k+ a year that still rent with roommates because they're scared of their jobs becoming automated or outsourced before they can pay off a house.

>>16379446
I had to job hop once a year for 3 years straight. Different areas, but all 3 offices were within an hour of each other. If my market didn't have any demand for my job then I'd probably be reluctant, but if that's not a big issue, if your area's rent is around the same as a monthly mortgage in a not trash house, there's little reason to stay renting. If you're single, I don't blame you for not buying. Pretty much every bachelor I know who bought or built their house get forced to move by wife anyway.

Watching family friends get leveled in 2008 made me realize early that being even a little intelligent with your money can save you. There's so many Baby Boomers who still overbought large home and are now "downsizing" into what should be a millennial's first home.

They'll never sell their garbage pile suburban barbie dream home for anything less than what they paid for it, but they NEED the smaller homes now that they're retiring and panicking.

>>16376420
rent it

>>16377899
Fuck you faggots. You do the same amount of work on a $100k house as you do a $800k house. Why you think you're entitled to a % rather than flat rate is beyond retarded. Hate you losers more than waiters that cry about less than 18% tips

>>16380382

You know you can shop around for a guy who will sell it at a reasonable rate. Most of them are dying for business and will negotiate down.