As expected, his banker buddy must have told him quite a bit about you guys ;-)
I would assume that too, yes. ;)
We even had to agree to data sharing in writing. But I don’t see what he would know about me that I haven’t already told him.
Our house was also appraised beforehand by real estate agents and I did some research myself and came to a total sum X.
First of all: Thanks for your detailed post, it was extremely helpful to me.
Did you compensate the agent somehow for evaluating your property?
I would feel a bit guilty if he drives here twice and wastes a few hours on us and then we don’t "book" him. Or is that just part of the job risk for realtors and I’m just too soft? ^^
I didn’t upload edited glossy photos but authentic unedited pictures. But I took them beforehand, e.g. when the weather was particularly good, the light-flooded living room, or after deep cleaning the house, directly the pictures of the kitchen and the bathroom/guest WC etc. I added the original floor plans as pdf, done!
Yes, I would do the same. I’m even pretty good with photos, so I think I can manage that. I think I can write the text too. Realtor texts usually read like mush anyway, I think I’ll stick more to the facts. ^^
I explained to the interested parties, without them asking, how I arrived at the price, namely by estimating with realtors, but that they save the commission here. Everyone thought that was very good and the price justified!
Did you write that in the offer or send it in a message?
I created a listing through a portal that works “without agent” (dot net), which is simultaneously advertised on several portals. The fee was €109!
I already found that too, €109 is a joke compared to a realtor’s commission. I would accept that too.
The listing was deactivated again on Sunday evening because I had enough interested buyers and their contact details. From then on, communication only took place with those who viewed and made a commitment.
How many did you "pre-select"? Did you already receive documents, such as (I know, worthless) financing commitments?
I know you can’t really rely on those, but at least such a paper is an indication that the prospective buyer has already talked to a bank about financing.
Yesterday we received the draft sales contract from the notary, which states that the house is sold as seen, that normal wear and tear may continue until handover and that we cannot give any warranty on it, but also that we do not fraudulently withhold defects.
The agent wouldn’t do more than that either!
That also addresses my fear of “the kid throwing toys down the stairs.” :)
We would want to agree on something like that as well, more or less.
Edit: and keep in mind, your house is not a problematic house, no divorce house, no inherited property or anything like that! All required documents are also available. Such houses (mine too) are, in my opinion, the easiest money for realtors!
That’s actually what the agent meant too. He estimates the demand high because it’s still very new and the market is “a bit crazy.”
Sorry, I forgot earlier: no, I don’t understand what you mean that you “called the buyer” (?)
It said “aufrufen” [to call on, summon], not “anrufen” [to call by phone]. ;)
I would look at how comparable properties are sold nearby – privately or through agents – and ask myself which type of buyer I’m addressing with that; then I’d decide.
That’s a bit our dilemma. I’ve been watching the market for a while and there are very few houses like ours on the portals. They’re always either significantly older or differently sized. Mostly older.
The calculation with land value + construction costs (I now estimated at €2800/m²) puts me around €525k. I don’t know if that price per m² is accurate, but we do have the air-water heat pump, controlled residential ventilation, air conditioning, and photovoltaic + wallbox; I think you can count that as “upscale equipment”?
Well, comparing all that to a house from the 90s, with radiators and gas boiler / central heating, partly disgustingly old-fashioned bathrooms – I don’t really know how to calculate that. Online market value calculators came out with something like “€495-630k.” Thanks for the chat, I was already that smart.
I wouldn’t mind paying a few hundred euros for an appraiser, but he would probably just tell me the material value?
Realtors have the greatest expertise when it comes to the achievable sales price, which currently (according to this agent) often exceeds the material value.
After some market observation it was clear to us that we would probably not reach a very broad buyer base and that everything in that segment goes through agents and professional photos. That’s why we also sold through an agent – even though I would have loved to save the money, of course. One of us was always present at viewings; there were always questions, e.g. about the technology, which the agent couldn’t have answered.
Our buyers told us afterward that they trusted the “good name” of the agent and were therefore confident that they wouldn’t be “taken for a ride” with the house and the price. They would never have bought privately and also didn’t want to handle everything themselves, that would have been too much effort, they wouldn’t have the time. The deal was done after a short viewing, no second visit, no discussion.
I think we have a property that appeals to a broader buyer base, probably price-wise and equipment somewhere in the upper mid-range (?). Visually I find our house very appealing, but maybe I’m biased.
The real estate agency recommended to us also has a pretty good reputation in the area. Besides Google reviews, I looked at other platforms. The only negative feedback I found was from a few people who were upset because apparently they were filtered out as buyers. And 1-2 times people were unhappy with early invoicing – which I can well imagine, if the purchase price has not yet transferred and the agent then casually wants €25k.
I think it maybe makes a difference where you sell, what price is called for and what is “normal” for comparable properties there. It’s certainly something different in Munich than in Hintertupfingen. So you can’t just say generally whether to go with or without an agent.
Exactly. This is not an exclusive property, but neither is it an exclusive area, and a new build with upscale equipment is somewhat rare on this market. I don’t know if nobody here gets divorced or if everyone knows someone who knows someone – in any case, the market mostly has older properties.