I'm thinking of selling a place. I used a discount broker a few years back and am considering using one again. I would like to set up one of those electronic realtor keys that alerts me when someone has accessed the place. I suppose I could use a smart lock as well and assign codes to realtors, but I'm thinking the electronic realtor key box is better and less work. Can you get one of those boxes if you use a discount broker?

Yes, you could (I can).

You just need to negotiate it in the listing agreement.

I prefer a limited listing. Just get it on the MS, and i'll do the rest. I do the rest better than the agents anyway, so why pay them more?

(I'm more available for showings and can actually answer questions correctly.

I suppose it depends on the attitude of that particular agent.

That's what I'm thinking on the lock box. I'm going to shop around.

Gman,

EVERY commission is negotiable.

Me? I post it on Zillow with AGENTS WELCOME. When they call I offer a 3% commission which is more than the selling agent would normally make.

They are desperate for homes to sell so this works. Plus buyers are on Zillow even when they "have" an agent.

Lockbox: I follow a gal on YouTube channel SELL YOUR HOUSE. She is against lockboxes and requires the listing agent to be present at ALL showings to make sure the prospects get the right and good info on the home.

She also requires the homeowner to leave because prospects shy away.

Please tell me you are considering a 1031 exchange to save your tax dollars.

PS

Every broker and every buyer are different. You want experience and hustle.

Also check out Audra Lambert on YT for tips on selling in today's market.

Both YT'ers promote professional photos because online is the first and only exposure.

If you are just selling one or two places without exchanging life is alright. But if you plan on selling more than two, you will start feeling progressive pain.

If you are in the 15% tax bracket on capital gains and then have a depreciation recapture - I am inclined to believe that doing an exchange might make sense. You are the accountant

It depends on how long you have had a place and largely how you bought it initially

Do you need a link to a a 1031 calculator?

Ray--here's my thinking:

This is a duplex and the approximate gain on sale is 100k. US and state taxes will be roughly 20K. If I do a 1031 exchange, that 100K would be a 20% down payment that would allow me to maybe purchase a place for $ 500,000. Cap rates on the high end would run about 8% so that means an NOI of about 40K. Prevailing mortgage rates are 7% or so. Monthly payment would be $ 2800 leaving a monthly cash flow of $ 533 which is slightly less that I'm getting now with the duplex. I don't see where the 1031 would advance the ball for me other than future appreciation on the replacement.

My only advice on this is to get 3-4 agents to look and do their comps and give you their estimate of price. I once bought a house listed by one of those discount places and he had priced it a good solid $30,000 below the fair market value AND he made a serious mistake on the listing. The house was 2 years old and he had it listed as 25 years old.

If you do elect to pay off a place, I would recommend doing your place. You get a small tax write off on rentals but you don't get a write off unless you live along the coast for having a note on your house. Furthermore, an owner occupied LOC is much lower than a rental LOC.

I understand your logic when you want to rapidly expand and grow the rental business. Don't do that when Cap Rates are growing and that is the trend thanks to fed. Instead when you 1031, you do the bare minimum to complete the exchange.