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Dh's friend wants me to show vacant apartment as a favor



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amother
Burgundy


 

Post Sun, Feb 25 2018, 6:10 pm
To make a long story short -- ha ha. I tricked you. -- Anyway, dh's friend lives in Long Island. We live in Brooklyn in same building as dh's friend's vacant apartment. Dh's friend wants me to show the apartment to buyers so he doesn't need to get a realtor. I wouldn't mind but the asking price is $100k above its value and potential buyers are turned off. What should I do?
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Kiwi13




 
 
    
 

Post Sun, Feb 25 2018, 6:15 pm
If you think they’ll listen, you can suggest that the asking price is too high and likely to backfire on them.

Otherwise, if you just want to do them a favor then you could agree to show the apartmentto prospective buyers without mentioning anything. If you’re not a realtor then I assume you have no vested interest in the deal. If it becomes too much to keep showing the apartment you can always say you can’t keep showing it.

Most buyers will have seen the asking price prior to scheduling a showing. You might not have much work to do anyway if no one shows up!
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amother
Burgundy


 

Post Sun, Feb 25 2018, 6:28 pm
Kiwi13 wrote:
If you think they’ll listen, you can suggest that the asking price is too high and likely to backfire on them.

Otherwise, if you just want to do them a favor then you could agree to show the apartmentto prospective buyers without mentioning anything. If you’re not a realtor then I assume you have no vested interest in the deal. If it becomes too much to keep showing the apartment you can always say you can’t keep showing it.

Most buyers will have seen the asking price prior to scheduling a showing. You might not have much work to do anyway if no one shows up!


The problem is that the owner doesn't believe me when I tell him that apartments that sell for that price are in move-in condition for the current year, not 1960. Buyers know the price beforehand. Their expectations are that they will not need to put an additional $100k to bring it up to date.
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Kiwi13




 
 
    
 

Post Sun, Feb 25 2018, 6:34 pm
amother wrote:
The problem is that the owner doesn't believe me when I tell him that apartments that sell for that price are in move-in condition for the current year, not 1960. Buyers know the price beforehand. Their expectations are that they will not need to put an additional $100k to bring it up to date.


Okay, so then they don’t want to hear it. You have to decide what involvement, if any, you want to have in it. Sometimes in order to preserve the relationship it’s worth it to just go along and say fine, you’ll show it if someone is interested. I don’t know what relationship you have with the sellers, or how it might affect your family relationships if you say yes/no, but those things would be my main consideration in deciding whether to help show the apartment, not the list price of the unit or reaction of prospective buyers.
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gande




 
 
    
 

Post Sun, Feb 25 2018, 8:17 pm
You probably feel like you are wasting your time showing it, because there is a very small chance someone will want it for that price.
Tell the owner that you think it is worth more and you might be wasting your time showing it and offer to show it for only a certain number of times a week. This might make him rethink the asking price or agree to a lower offer because he is relying on you to sell it.
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seeker




 
 
    
 

Post Sun, Feb 25 2018, 8:36 pm
I'd just tell him to get a realtor. Are you charging for your time? This sounds like a big commitment, unless you literally sit around your house with nothing better to do.
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amother
Burgundy


 

Post Sun, Feb 25 2018, 11:54 pm
He said he doesn't want a realtor. How much can I charge for my time?
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