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my wife figured that what happens with many of them is that the owner first calls a realtor.  The realtor tells them what the property is likely to bring, they get pissed off because they are not 2006 prices, so they try to go it alone with lots of lookers and no buyers.

I told her it reminded me of the gun show.  Whatever I'm selling is just old junk, whatever is on the unlicensed dealer's table is lined with gold.  I guess many of these folks will end up like the guy at our local shows who has had the same $1500 DPMS and $30 mags on his table for the last three years.  

I told her if we find one we really like, we'll just wait for it to go into forclosure and buy it from the Sheriff or bank.

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My wife and I went out to look at properties this morning.  We found that the only good deals were through realtors.  We looked at several FSBO properties and determined that the owners were generally out of their minds or so emotionally invested in the property that they just were not serious about selling.  What we found with the FSBO deals were that they were about 40% higher priced than nearby comps that were realtor listed.  

A word of advice, as soon as the old guy starts saying things like " I built this barn with my own hands ", politely find a reason to leave and don't look back.  Old dude, look around you, your 2 acre property with two barns and 1920 built house, is not worth $80k more than the one  up the road with 20 acres and a larger house and 1 barn.

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Which is fine except that the one up the road for $80k less has literally 10 times the land and twice the house. BTW, the guy called me back and asked if we wanted a showing this week. I said unfortunately we had to pass as we were just too far apart on price. I said I didn't want to insult him by offering half of his asking price as a realistic offer.

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Sold my last two houses FSBO and I built them myself. Both times I got offers and agreed to a closing in the first two weeks and both were after the housing collapse. Both I wound up getting more than I was asking.

Depends on where you are. I tried using an agent multiple times and it went like this after I drive by and make sure I'm interested in the property. Call and then ask questions they can't answer, then ask for an appointment and they won't, can't, or say they haven't been out to the property they have listed and don't know how to get out there.

Both people who bought my last two houses said they had been working with an agent but never could get an appointment to see anything they were interested in. One of them had been using my next door neighbor who is an agent and they said the description they gave her matched my house exactly and she told them "You can't get financing for a house that's sold by the owner, only thru an agent".

I have probably averaged being able to get an appointment to see a house, land etc...by calling the agent and telling them I have already been out there and am interested and will pay cash maybe 1 in 5 times I try.

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FSBO = Realtor's sensible prices were way, way below what they think it is worth.

Kharn

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"you can't get financing". Bull fucking shit you can't.

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1.  Realtors are disgusting thieving cheating liars (for the most part...present company excepted)

2.  Realtors work on a percentage...you are a FOOL if you think they want you to get a house for one dime less than maximum possible price.  What they want is a big commission check, and they get that by getting YOU to pay MORE.

3.  Most of the realtors that I have worked with in the past behave exactly like this person:


http://youtu.be/6xCCoull3I4



Good advise. Ivebeen thinking about getting a home and ya it's a pain.










If you want to buy homes BELOW market value...you must...

1.  Know your market and know what you are buying.  Know what houses are worth, know the neighborhoods and what changes are on the horizon (such as if the .gov is gonna trash the area).  In other words, do your homework.  

2.  Skip the middleman.  Realtors are the middleman/middlewoman...they are commission salespeople who make their living by selling for max value.  They do not add value to the deal (from a buyers perspective).    

3.  Be patient, be diligent, be flexible and be ready to jump on a good deal.  You will have to look at a lot of homes and it's hard work.  Most people don't want to do this work, but there's a LOT of money on the line.  

What you are looking for is motivated sellers that have the kind of home that is desireable to you.  You need to have your down payment and financing in order and be prepared to close in a hurry for the right deal.  You need to be a tough negotiator and willing to walk away.  If you are not embarrassed by your offer then you are offering too much.