- Find a Real Estate Professional
- Realtors®
- Mortgage Lenders
- Home Improvement Pros
- Other Real Estate Services
- Review an Agent, Lender or Pro
- Marketing on Zillow
- Real Estate Agent Advertising
- Join the Professional Directory
- Popular
- Real Estate Market Reports
- More
Answers (6)
- Cindy Quinton, "Cindy Quinton"
- Contributions:1324
I am just a fellow buyer, so this is all just my viewpoint.
People usually give a listing agent a specified commision, then the listing agent offers a portion of that amount (often half) to any buyer's agents who bring him a buyer. So you are not likely to save the seller any money by offering yourself, the listing agent will just have the full commision. At least that is how it is often done in my state. So I wouldn't really factor in any savings to the seller.
I honestly think it is ridiculous for people to get offended by an offer lower than the asking price. I mean do they get offended at all of the buyers who don't make any kind of offer, essentially saying the home is worthless?
I would concern myself less with what he paid and spent on remodeling the house and look at recent sales to decide what the house is really worth, I wouldn't overpay for a house because someone bought at the top of the market and owes too much, so why pay based on how much someone has in a home? I would simply make my offer based on what the house was worth and what I had to spend. Good luck, come back and update us!
People usually give a listing agent a specified commision, then the listing agent offers a portion of that amount (often half) to any buyer's agents who bring him a buyer. So you are not likely to save the seller any money by offering yourself, the listing agent will just have the full commision. At least that is how it is often done in my state. So I wouldn't really factor in any savings to the seller.
I honestly think it is ridiculous for people to get offended by an offer lower than the asking price. I mean do they get offended at all of the buyers who don't make any kind of offer, essentially saying the home is worthless?
I would concern myself less with what he paid and spent on remodeling the house and look at recent sales to decide what the house is really worth, I wouldn't overpay for a house because someone bought at the top of the market and owes too much, so why pay based on how much someone has in a home? I would simply make my offer based on what the house was worth and what I had to spend. Good luck, come back and update us!
- wetdawgs
- Contributions:26851
Here's a screen shot to where to find "more facts"
- jaded41
- Contributions:42
So let me ask a more specific question. I don't have a buyers agent. I've worked in technical sales my whole life and am a pretty good negotiator. I also passed the realtor license class and exam but just never signed on with a broker. That was years ago. If this owner bought the house for around $275,000 in 2005 and essentially modernized the home that was built in 1978 and did it himself since he is a contractor. Then do you think I would offend him by offering say $315,000? I figure his remodel would have cost a retail paying occupant $75,000 but you know it was a lot cheaper for him, being a contractor. So given the way the market has fallen is $315,000 and the prospect of him saving the buyers agent commission isn't an outlandish offer, is it? He also put the home up for sale a few days before Chistmas. That makes me tend to believe he needs to get it sold for some reason. The realtor says he just wants to get his kids into a better school district but that sounds fishy as this district isn't a bad one.
- David Barr, "dpbarr2000"
- Contributions:280
A tax assessment has nothing to do with market value. And Zillow zestimates are totally irrelevant to real world data.
A zestimate is an algorithm derived from scraped data from a public website like a county tax appraiser. Zestimates are NEVER used in mortgage loan appraisals.
In fact, it's quite likely the house you've been watching for months isn't even available for sale. Zillow isn't a licensed real estate broker and employs ZERO local real estate professionals in any market in the US or Canada.
A zestimate is an algorithm derived from scraped data from a public website like a county tax appraiser. Zestimates are NEVER used in mortgage loan appraisals.
In fact, it's quite likely the house you've been watching for months isn't even available for sale. Zillow isn't a licensed real estate broker and employs ZERO local real estate professionals in any market in the US or Canada.
- jaded41
- Contributions:42
I'm not seeing the "more facts" link. Where is it on the page? Thanks.
- wetdawgs
- Contributions:26851
Usually the reason for a change of this nature is because there was missing or incorrect data, and the agent or owner added additional data or corrected data. For example, if lot size was missing or square footage was considerably off, edits may affect the Zestimate and it tends to take about 8 weeks to reflect fully. Sometimes you can check to see what may have been edited by clicking on "more facts" and comparing the combined facts (which included user edits) with public facts.
Zestimates are not calculated from home appraisals, although tax assessments do calculate in.
Zestimates are not calculated from home appraisals, although tax assessments do calculate in.
What causes rapid drastic change in Zestimate value?
Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.