Profile picture for Wayne Fenstermacher

Wayne Fenstermacher

Agent

12 Recent Sales (last 12 months)

REALTOR

Specialties:
Buyer's Agent,
Listing Agent,
Consulting,
Certified Negotiation Expert

Advice

  • (8 Contributions,
  • 0 Best Answers,
  • 1 Helpful)

Contributions are sorted newest to oldest.

Can I legally sell my house in PA that has old knob and tube wiring throughout?

Answer

As Brian said, you can. But, if a buyer is anxious about the potential hazards, it might be best to bite the bullet and get the home rewired.When you do disclose it in the Sellers Disclosure document, expect a buyer will factor in the replacement -- and estimate higher than the actual costs.How about getting an electrician to give you a written estimate for the replacement (and removal of wiring completely) and then you'll know how much a buyer will ask for the replacement?That way, you'll have a real-world price so you're more in control.Your agent should make these suggestions as well.I hope that helps!WayneTheChrisLuckowskiTeam.com 

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Realtor Interviews

Answer

Cristie,Talk to several on the phone - for sure - and it's always good to meet in person with a few.Here are a couple of things to think about and consider:- Be wary of the agent who promises a high price for your home, especially if others are consistently coming up with a lower one.- Ask each to ensure your agreement allows you to end your contract if you are not happy with their work. (You do want to give them latitude to do the job you're hiring them for - but if you don't hear from them each week, it's time to cut them loose. (And, if you do go with an agent who promised a big price - don't allow them to beat you down on price every week until you drop it.)If you are getting showings and no offers - it's priced too high.If you aren't getting any showings - it's priced too high.- Don't completely eliminate newer agents from your mix. Some, like myself, have a wealth of marketing experience that can get exposure for your property. And, you might find one who will spend more time and effort trying to get your home sold - than someone who has many listings and relies on getting your home sold by placing the details on the local Multiple Listing Service and waiting for an "average" selling time to get an offer.You're doing the right thing here - getting opinions and recommendations. Keep it up and weigh all your options.Wayne

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Is this common and ethical?

Answer

I'm with Mike. The more open and honest you can be with the agent you have a contract with - the better they can work on your behalf. If you play coy with the info you provide your agent, consider that the agent doesn't have all the information they need to help you to the best of their abilities.

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Why some sellers only accept cash? What difference does it make as long as they get paid?

Answer

You never know what kind of advice a seller received prior to indicating they only want cash as a method of payment. As was mentioned, involving a lender is essentially adding another voice to whether the home is worth what a buyer wants and is willing to pay for it.If the situation is understood that a bidding war is expected, asking for only cash offers would certainly remove a lender's opinion from the final decision process.There can be a myriad of reasons why cash is their preference or required. Maybe they were burned by a lender in the past and have vowed to not line any future lender's pockets if they can help it. Who knows...?

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How do you find the price of home

Answer

You should be upfront with any real estate agents you ask for help. If you are truly considering their services to sell your home - even if you are just thinking about it right now - let them know.The courtesy of knowing that you are "just curious" will provide many karma points for a possible professional relationship in the future.

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how much ($or %) should you expect to take off your asking price?

Answer

I like to educate my sellers on what the local market is experiencing. It's fairly easy to identify the historic rates of sale price to list price.But, even within a county-wide market, there are going to be variations depending on the specific circumstances - condition can be one of the biggest concerns.In our market now, we're seeing properly priced properties selling closer to that price - or above - but homes priced high, expecting to negotiate a lower price - those homes are selling for even less than they would have if properly priced...In the end - properly priced is practically sold.

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what is real estate commission rate?

Answer

Everything is negotiable.What does it say about the value the agent puts on themselves? Does it demonstrate how strong their negotiation skills are if they can't defend their own value?I like to share with sellers the various levels of commission and the pro's and con's of each - and allow them to choose when they well informed.

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what is real estate commission rate?

Answer

Everything is negotiable.What does it say about the value the agent puts on themselves? Does it demonstrate how strong their negotiation skills are if they can't defend their own value?I like to share with sellers the various levels of commission and the pro's and con's of each - and allow them to choose when they well informed.

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Changing the color of my front door

Answer

When you do pick your color, please pay attention to the hardware (lock set). If you're going to the trouble of painting it, find a complementary handle and lock combination.So many times I visit homes that have worn, aged (not in a nice way) hardware on the front of their door and it's the first thing someone touches when they come in.If you choose a bright, brassy look, do check on that durability the finish - especially if it gets direct sun.Have fun with the project - it definitely makes a statement and can add to the curb appeal (and ultimately the value) of your home.Wayne FenstermacherCENTURY 21 Alliance

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