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5 Comments
Comment by Douglas Emde 37 minutes ago To Mr. E T and all others: just read your post and could not agree more. People are either inherently ignorant of what "trading" means, or think potential trade partners are stupid. `I joined this sight on the possibility of connecting with people who do understand what is meant by equity, value, price, mutual interest, debt, risk assumption, etc. but so far it is disappointing. But, let's continue to try. Comment by ET 11 hours ago I have been with other real estate exchange for 4+ years. But, it is totally a waste to me. A website full of junks. Why?
1) I believe, a trade has to be on realistic or reasonable basis. A lot of people contacted me wanting to trade their stuff with me, I have never had a successful trade. Their trade prices are way out of line (NOTE: I just get in here a few hours ago, I browse two states. I found someone doing that inflated price are here too.)
For example, one Florida owner proposed a trade to me. He wants "$150,000" for his boat-access land. The problem is there is a similar land right next to his is listed for $39,000. The worst is he listed his property on MLS for $59,000. How can he want to trade almost 3 times than his listing price for the same property? That's a phony and intentional fake trade. Still, a lot of Californian owners want to use the peak price in 2006 for trade. Say I had a trade proposal from California Vally. He wanted $80,000 for his vacant land. After checking with local realtor, its value is roughly $5,000-15,000. I don't see any point to waste my time to keep myself in that website. Could anyone tell me: did I miss something or did it wrong, even I know "trade or barter price" is normally higher than "cash deal" ?
2) A trade is an exchange of equity. However, a lot of property owners don't understand this or try to play dumb.
For example, a Californian owner proposes to trade his Oceanside $1 million property with $800, 000 mortgage for my free and clear $350,000 property. I asked him how we are going to balance our equity, i.e.how he plans to pay me $150,000 in cash, paper, or something else if I assume his property still worth $1 mil. Do you know how he react to my question? He pissed off by saying: " I give you my $1 mil property for your cheap $350,000. You take advantage of me already. How could you dare to ask me to pay you money?"
Well, what can I say? Maybe he is trying to find a fool after him, a fool having a negative equity in his McMansion.
I hope I can meet reasonable people and do some sensible swap here and all the parties involved with me are happy, feeling as a winner out of the trade as all my customers.
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1 Comments on Internet Pollution: A website full of Junks?
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Social media sites don't sell real estate
by Teresa Boardman
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Read Teresa's article yesterday.
Humm, what goes wrong with her?
She spent so much energy and money to work on real estate selling and almost got nothing in return. That fits into what I called "the least protected professional" in the world. Sure, a real estate license is not an Attorney license. Before getting paid, a real estate agent paid a lot in advance. After getting paid, a real estate agent has a lot of risk to lose a lot if someone doesn't like the result. Certainly, an agent is not an attorney who still gets very good pay even he loses his client's case in court. But, no way for an agent, Jose!
Well, we have a herd mentality to pursue a fancy internet commercial. Since 1991, I have played it. I have never spent one cent for my real estate advertisement. I believe my old fashion: "real estate is a people business." On the net, it is very difficult to develop the sense of people relationship so that the effects would be very limited, if not failed as Teresa said. I don't fall in love with internet real estate ads, particularly after I saw so many biggest websites do a lousy design to confuse outsiders such as HUD website that is almost a dumpster full of junks to waste your time. The bigger website, porbably the worse. You will be better off to just make a phone call to a local real estate brokerage.
Did I use internet to broader the exposure of my properties? Yes, I did use all available free internet ads. Why I use them? Because they are free, no penny out of my pocket. Don't blame me for taking advantage to uploading my ads as I told everybody I am a cheap guy.
However, no matter what and where I sell, I have never had a property sale or trade from almost all the internet websites in the past 5 year (I have a lot of sale thru E-bay. I gave it up 10 years ago. So I don't think I have a problem with my marketing skill.), except just a few producing some results for me.
My newly used website "Kijiji" (Be honest, it is not fit to what I am selling since it limits its program to be a local ads so that I have to spend time to re-type and re-load for each city I want) really surprised me by sending me a serious buyer (sure, the website attracted at least 2 con-artists senting me emails too) a week ago and a binding contract of my trust deed note reached by emails (still waiting to close).
Talking about real property, I believe the old way works much better than those in cyberspace, unless someone like me can do purchase without a visit to the property. Recently, I sold my 2 houses in 5 months. How I sold them? Simple, thanks to my yard signs and my water company who allows me to post a sale sign at their entrance.
Humm, is the old fashion way still works better? You tell me your finding if you do periodically check your ads result.