selling my condo

[ElaineMonster]

I'm selling my condo. It's not listed yet but already I have an interested buyer. She's a realtor who already owns two units in my complex. She bought my neighbor's unit and so I sent her a letter asking if she wanted mine too. I didn't offer a price but obviously I want as much as I can get. I've got a realtor friend who will help me do this for cheap if I have the buyer already. My questions are:

1. How to negotiate highest price? (I tend to have good ideas about negotiating, but I'm only good at it in some circumstances, where I feel really comfortable. Often I'm too frank and don't do enough small talk, smiling and bull [censored]. I'm not a natural sales person and have no serious desire to change. Some people relate well to that part of me, but not many.)

2. What should I watch out for? She's a realtor and does this regularly. I don't. It's my first home purchase and sale.

Thanks!

[CrayZee]

I don't know much about real estate, but do you have a good idea on the current selling estimate of your condo? Was the other unit similar to yours? If so, how much did she pick it up for?

I'd just try to negotiate a price that is as close the going rate as possible, if not higher (although that's probably unreasonable). If she's completely unreasonable, you can wait till another potential buyer comes by...unless you need to sell it now. And how much of a gage does she have on your selling urgency? Are you in the process of buying a new place? Does she know that?

Don't most real estate agents wait longer to sell their own property than they do selling other people's property? No need to rush into it, if you don't have to.

I'd just wait until I found someone that's worse at negotiation than me and sucker them. [img]/images/graemlins/smile.gif[/img]

...but then again, what do I know?...

[ElaineMonster]

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I don't know much about real estate, but do you have a good idea on the current selling estimate of your condo? Was the other unit similar to yours? If so, how much did she pick it up for?

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Yes, good idea thanks to the Assessor's website.
Other unit was exact same as mine only mine is corner unit so shares fewer walls with neighbors.
She got it for the going rate.

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And how much of a gage does she have on your selling urgency? Are you in the process of buying a new place? Does she know that?


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None, I think.
No, not buying yet. Not planning to buy for 5 months.
She knows nothing about me other than the fact that I'm not a realtor.

Also, I got a call from another realtor who if he can't represent me as seller has two interested buyers. It's not even listed yet!

So, now I'm wondering if I should just do this For Sale By Owner or get an agent. I can get an agent at low commission (not my friend, just someone). But it still adds up to more than I want them to have. I want it all. It's so funny. I get a little greedy about this stuff.

[CrayZee]

[ QUOTE ]
So, now I'm wondering if I should just do this For Sale By Owner or get an agent. I can get an agent at low commission (not my friend, just someone). But it still adds up to more than I want them to have. I want it all. It's so funny. I get a little greedy about this stuff.

[/ QUOTE ]

All I really know about real estate is that the reason to go through a broker is that you don't have either knowledge, time, and/or energy. Fear of not getting a good price is also a motivating factor for people.

If the turn around for real estate where you're at is pretty high, I'd imagine you could do it yourself. It certainly sounds that way. Also, it depends on the brokers cut, too. Too high for your variables? Then it's a DIY.