Realtor question.

[flea beetle]

I had a lady trying to sell a quarter next to me. She put a flyer in all the locals mail box. I phoned and made an offer knowing full well I would be the top bidder. She phoned me back a week later after it closed and said that she thought it was worth more. I told her that was my offer and I was sticking to it.

She phoned a year later and said she was trying to sell her quarter again. I gave her an offer $75,000 less than the first and she got all huffy and asked what happened to my first offer from a year ago? I told her I had just bought 5.5 quarters right next door to hers for the exact same price as I offered her the second time. She didn’t sell to me, but I know it didn’t sell for more than my first offer. I don’t think I had a chance at buying it, she just wanted me to price it to sell it to the other guy. That’s life!

[poorboy]

Here east of Calgary you will pocket more money with a realtor. Know 2 separate parcels that were put up for tender and bids were mediocre. Both listed with a realtor and sold immediately for 25% more.

Most tenders have seemed to become a push and shove deal amongst the 2-3 highest tenders after closing. Most guys know this and have cut their tender price back to leave room to negotiate after.

Ignore previous sales. In a rising market they are all out of date and below current market values. Pick asking prices 20% higher than the highest value you have heard. Market
here is still going higher. Lots of money in some pockets.

Don’t let your realtor pick your price. They have NO incentive to get you the highest price. Their only focus is to pick a price that will sell immediately and pocket the commission fast.

Few land sales locally have brought $1000+ more than anyone expected from buyers 200 miles away. Tender packages don’t even attract buyers like this.

[flea beetle]

Or invites you for supper... along with the 2 other highest bidders.

Then he discloses to the 3 present, what they all bid and says, "now make me your best offer".

This sounds like you are speaking from experience!

[15444]

Having been involved in two separate land deals this spring with two different lawyers, I can offer some insight.

Realtors commission across the board here is 6%. The only thing they really offer is advertising coverage. Their social media presence is huge on Facebook and Instagram. Everyone in a 200+ miles radius will know about it, whereas private deals and tenders only reach a small percentage of actual population, usually through local ads in papers, which no one under 40 reads anymore.

Nothing beats an open bid process. Shit on tenders. Find two, three or six guys that hate each other, and let them scream numbers at you. I did just that with a prick cousin on 1st deal. If the seller had gone to tenders, she would have lost out on over $100k. She just kept taking bids from both of us until I had the highest. Cousin was pissed that she kept taking bids instead of one sealed tender, just because he thought he could get it comparatively dirt cheap.

The 2nd deal was a formal offer process through lawyers, which is all that is really needed. Advertising was minimal and 90% of people that knew about it was word-of-mouth; as very few read newspapers, let alone classifieds. Problem is seller kept verbally changing his conditions before the offer date closed, which pissed a lot of prospective buyers off, and which the lawyers say is completely ok as long as nothing changes after the formal offer is signed by both parties. This was a pre-foreclosure sale which could have gone very smoothly if the idiot seller had taken one of two good pre-approved financed formal offers, rather than a crazy number written on a scrap piece of paper by a local young buck who has no financing and no collateral. That is going to be a gong show that will stretch out for the next month and likely end in an actual foreclosure sale.