Just put my Prius in the AutoTrader

If I could get 19.5K for my 2009 Touring #6 I'd do it in a hearbeat. So yea, that's probably too high. If gas goes up to $5, it may not. There was a brief period in the middle of 2008 when people were getting nearly $30K for 2004s.

 

I had an rather "unscrupulous" friend that used to drive around with a "for sale" sign in his vehicle almost constantly.

He just kept the vehicle priced 2-3 thousand dollars more than he thought or knew it was worth.

He didn't care how it looked. Most of the time he just drove it...but if he "caught" a fish? He'd call me up and tell me how happy he was that he could now sell and trade up.

Only once in about a decade was he NOT able to eventually find someone willing to pay him more than his vehicle was really worth.

He wasn't a "good" friend...and I never bought a vehicle from him, BUT I guess the moral is, if you aren't REALLY motivated to sell? Then you can put whatever price you want on your vehicle and then just sit back...

 

i have mine for sale $13,000 package 4 with 60,600 miles. i am taking $12,500 for it. its in good condition. minor comestic stuff.

even in perfect condition, you will not get more than $14,000

 

We had a Dr. neighbor that did that on his house - about $100k over value. Listed for almost 20 years. One day, it sold. He moved. Bought another home AND a vacation home with the extra.

 

That's nice and all, but doesn't it cost money for you to list a house, agent, and all?

I can see how a having a For Sale sign on your car would be different...but a house??

 

in this climate i think u can get $14,000 with less than 40K miles

 

Nowadays you can use the "make me move" option in Zillow.com, where you generally price it a little high and if somebody bites then you move. Or at least before 2008 you could do that, now you have to fight the short sales and foreclosures.

420Benz, did you research what cars with your mileage are going for in your market? It's an older car, but low miles. Double-checking that with kbb.com, I show $14,300 for private party price in my area (I'm not sure what all options you have on it). Prices might be even higher now with gas prices going up like they have. I'd price it at $15K anyway.

 

Sorry for the thread drift....

In 25 years and 4 houses, I've never paid to list. Commission when sells must be paid by buyer, seller, or split.

 

No, real estate commissions are on contingency, so no commission is due until settlement is completed. Never sign an agreement that stipulates anything to the contrary by the way...I know some agents try to slip it in. Marketing fees if the house doesn't sell, etc.

The issue with over-pricing your house and waiting for a bite is it has to appraise unless your buyer is paying cash or is willing to make up any difference. Not quite as easy to sell a house for more than the market value as it is a car...

 

Another issue is that prospective buyers can see how old your listing is. If it is more than 3-4 months old a savvy buyer will reasonably assume that there is something wrong with the house and/or it is overpriced, etc. So in a buyer's market (which most real estate markets are right now) the overpriced house will continue to sit.

Over a 20-year period, is it possible that the value of Tink's doctor neighbor's house finally approached the listing price so that it was reasonable to purchase it?

 

Assuming its listed in the MLS thats correct, and ultimately over-pricing the house will lead to a lower purchase price than just pricing it properly in the first place for that very reason.

Could be...

 

The owner of a house signs a listing agreement and pays the selling commission, never heard it any other way. A buyer has no interest in that fee, or shouldn't have.
I thought a nice used Prius was worth more, guess all the bad press worked for those who hate Toyotas. The question I would have is what would I buy with the money to replace.

 

If I'm the buyer, I agree. If I'm the seller, it's all part of the negotiation.

 

19.5K too high.

I didn't have much luck with Autotrader. Got a couple strange calls out of Las Vegas from an outfit that wanted to buy the car, likely for cheap, the resell.

Craigslist was great though. Advertised that morning, boom, had great buyers and deposit by afternoon (people like to go car shopping on New Years Eve).

 

Typically this is how it works yes, but it doesn't *have* to work that way.

The commission that the seller agrees to pay (that 6% or whatever you hear so much about) is actually broken down into two fees, which typically are equal (3% and 3%) but again, don't have to be. One of those fees is reserved for the agent that lists the property and represents the seller, the second fee is offered to a cooperating agent who would be retained by the buyer as his or her representative. I view this fee as part of the marketing plan for the property. Should the listing agent sell the property to a buyer himself who is unrepresented (or whom he also represents...depending on state law) then he is owed both sides of the fee...again though it doesn't *have* to be that way.

Now, the buyer has signed a buyer brokerage agreement with their agent. That agreement states the BUYER agrees to pay the agent a fee of whatever they've put in the contract (usually 3%), but that any fee the agent collects from the listing broker shall be put towards the buyer's obligation under that agreement. So...if it says 3% in the buyer agency agreement and 3% is offered by the listing broker as per the MLS...the buyer owes zero. But...technically lets say the agreement says 3% and only 2.5% is offered in the MLS...then the buyer would owe his own agent .5%.

Most agents don't enforce that part of the contract and just collect whatever is offered by the listing broker and call it a day, its about a long term relationship with the buyer not about making as much as possible upfront....but some agents do enforce it.

So...it is possible that the buyer may pay some commission, depending on what is offered by the listing broker, what they are able to negotiate with the seller, etc. All marketplaces are different, in my marketplace buyers almost never pay any commission (no buyer of mine has ever paid me anything), the seller pays all of it, but that may not be the case in some markets.

 

Craivs worked well for me on both the Zenn anne the Prius. Both gone in less than a week. The Prius left yesterday

 

I got the same thing with AutoTrader. I live in NC and I keep getting calls from Vegas.

 

on my 2006 Prius. sold it $12K. problem with it was it was in 2 very minor accidents and people just got freaked out by it. neither accident did any frame, hybrid or alignment damage. both happened over 18 months ago so the car was driven extensively after the fact.

but it still scared away people, so finally i sold it for $500 less than target to dealer. who will no doubt, make an easy $1500 on it. but what the heck. it was nice to have my bank call the next day to advise me that my deposit was certified to be "non-counterfeit"