Home : Blogs : Ilyce Glink : Ilyce's Blog

Agents Do You Know the Latest Trend That Could Get You DOUBLE COMMISSIONS?

House swapping isn't just for Cameron Diaz and Kate Winslet's characters in The Holiday anymore!

Americans who can't sell their homes are turning to house swaps. While some sellers are being ignored by buyers, there are hundreds of thousands of homeowners who would like to sell their home. If you link them together, it's possible to do a house swap or house trade, where little or no money exchanges hands, but sellers trade properties and move on with their lives.

Home sellers are desperate these days. Can house swapping relieve the pressure of selling in a bad market?

I was interviewed for a Fox TV story that has run across the country, which talked about the need sellers have to unload their properties so they can move on with their lives. Apparently, house trading is becoming very popular on Craig's List and House Swapping sites have become more popular. One of these sites, TradeMyHomeNow.com, is getting thousands of views and has dozens of single-family houses, lots, commercial and investment property listed for trade.

House trading or house swapping seems simple: You pick out a house that seems promising and offer up yours in exchange. With a house swapping site, you could even see how a 3-way or 4-way trade would be possible.

To learn more about the basics, the dangers and what I said about house swapping on FOX News follow this link to my website ThinkGlink.com and you can read the full article.

<---->

Posted by Ilyce Glink on 07/15/2009 01:26 PM

Comments (11)

House Swapping in the ActiveRain Channel

housing market, selling in a tough market, house swap, home selling, sellers

Post is included in group: We Are Women!
Post is included in group: The Ninety-ninth Percentile
Post is included in group: Dedicated Bloggers
Post is included in group: Addicted to Active Rain
Post is included in group: 1st Time Buyers

11 Comments on Agents Do You Know the Latest Trend That Could Get You DOUBLE COMMISSIONS?

JUL

I can see how that could work for a lot of people in this market.

I've done one of those but with a slight twist.

Buyer was in a rental with a couple months left on the lease. Seller was waiting for their new home to be finished and so they signed the deal, and both got moving. They even shared the moving truck. It was a bit hectic, but in retrospect the buyers were happy, the sellers were happy and everyone came out on top!

Chuck:

Anything that can help sellers get unstuck is worth a second look. And, if agents can figure out how to work both sides, even a reduced commission winds up being more money.

Aaron:

I love your story! What a great solution in a very tough marketplace. Thanks for sharing. And, Chuck, thanks for your comment, too.

Has anyone else done a successful house swap?

Ilyce

www.thinkglink.com

So unless both Buyer and Seller own their home outright you still have to go through the financing/inspections, etc. I am sure it sounds a lot easier than it actually is... but is an interesting concept!

Ilyce - This sounds like an interesting concept, and one that seems as though it may work for some in this market. I will have to read up on this some more.

JUL

Thanks for the link. Just this week I had someone ask me about house swapping. I think it is an interesting concept that must be approached with caution.

JUL

Wouldn't this have the same problem as all barter arrangements? I mean, trying to find two exactly valued properties that are in the exact locations that both people want to move to and both people are happy with seems nearly impossible. Also, if someone can't lower their price low enough to sell their home, is it likely they will have the thousands of dollars to pay your commission? Could we even charge a commission because there is no sale actually taking place, just a trade? And double commission? Isn't there only one transaction taking place? Sounds like an interesting concept, just don't know if it is practical for many people.

JUL

@Brian: It definitely isn't for all people. I think it's a unique slice of the market. By double commissions, we're referring to possibly being able to collect a buyer's agency fee and a seller's agency fee if you're successful in pulling the deal together.

Thanks for stopping by and leaving a comment.

Irene:

My feeling is: Beware, but with knowledge. If you wind up working on a house swap, please let me know. Thanks for the comment.

Phil and Terry - I think it's harder to do a house swap than a regular deal. But it's one of those things that sounds easy - the reality is more complicated.

Again, it's all about knowledge and options for desperate sellers. Thanks for your comment and for stopping by.

Leave a response…

Name:

Email:
(optional)

Comment:

What does the graphic say?