Real Estate selling advice needed.....

[maverick2112]

I have a house I need to sale.........its only 1 block away from where I live so if I had to meet buyers to show it, this would be no problem. I was thinking about listing it with a agent and the cheapest commission I could come across is 4% which amounts to around $7,000 on the property. I have spent all summer doing updates so it is in showing condition and it looks pretty good now.

I just cant seem to justify paying someone $7,000 to sell it when I think it will sale fairly easy. Even if it doesnt sale for a month or two it would be ok with me.

What should I do????

Should I just do a for sale by owner or does this come with to many headaces.........

If I would find a buyer is it up to them to come up with all the paperwork or is this up to me.

I guess I just think this house will seel fairly easily in this current market.......

 

[Franky Wright]

Maverick,
Just make sure you have it priced correctly. If its worth 200K, and you sell it for 175K in two days, how would you feel :scared
If a broker sells it for $205, and you net 197K, how would you feel :clap:

Most FSBO's who sell their property very quickly, will tell you the story about how easy it was. Well now that you know the moral of the story. What will you do?

I think you can do it, if you have it appraised ($400+) and you are willing to do the work.

Franky

 

[AR182]

as a person who is a real estate investor,i use a real estate agent,only if my tenant does not buy the house.......because they can list it on the mls.

but negotiate the commission & what they do for that commission.

good luck.

 

[LUX]

I use a flat fee service like this one link when I sell. The main thing is getting it in MLS, so it will be shown by Real Estate Agents.

 

[maverick2112]

Maverick,
Just make sure you have it priced correctly. If its worth 200K, and you sell it for 175K in two days, how would you feel :scared
If a broker sells it for $205, and you net 197K, how would you feel :clap:

Most FSBO's who sell their property very quickly, will tell you the story about how easy it was. Well now that you know the moral of the story. What will you do?

I think you can do it, if you have it appraised ($400+) and you are willing to do the work.

Franky

I had it appraised and it came in at 170,000.......I was going to start out at 176,000........so I think it is priced good......

 

[21 skidoo]

Absolutely agree. My wife and I just sold our home with a flat fee service. We paid $500 for the service and he came to our home and took pictures, filled out the paperwork for MLS and put a sign in the ground. We were not in a big hurry so we priced it high intentionally. We fielded the calls and did the showings ourselves. It sold in 4 months within 5% of asking. The funny thing is that the buyer had originally put in an offer withOUT a buying agent. So we would have paid ZERO commission. He made a second offer 3 months later with an agent so we had to pay 3%....but not before we countered high enough to include the agents commission.

You can list the buying agents commission at anything you want through a flat fee service. We listed at 3% but were going to go as low as 2.4%. Another trick we learned (but never got around to implementing) is to list the commission very low, but put a bonus $$$ provisiopn in the contract. As it was explained to us, there are a lot of buying agents out there who search for bonuses first. I believe that is because they do not have to split that with their comapny as they would with a straight commission.

But absolutely, you are doing the right thing. If you know the value of your home in your market, sell it yourself!!

 

[dogface]

Check out www.helpusell.com/

Your choice of options and the guy that is operating my sale is only getting $3980 on a sale of $279,900

I used him with Remax, before he decided to switch an open up this franchise... I have noticed no difference in service, it is listed on MLS so I have decsions to make if a another realter comes in for the 2.7% fee but my choice... If I wanted him full service as well, still much less expensive...

GLTU on the selling of it!


TSI


PS: Mine was up for sale and had one open house last weekend, then I left for AZ, came back on Wednesday and was hit by a tornado. So now I have to wait to get the house ready again after the adjusters verifies and the insurance covers the damage. So I hope it goes smoothly for you.

 

[Mjolnir]

i'm a realtor & loan officer, if you think you can handle showing it and doing the paperwork correctly i would recommend doing it as a fsbo. it wont get on the mls, but if the area has alot of traffic, put up a sign and see what happens. find a good escrow company and they will help you. i have been doing this just a little while, there are much more experianced people on the board than me. Franky wright seems to me to be among the sharpest. appraisal is important. if you know some realtors have them use an appraisor to do a value check, this is a rough estimate for comp's, it doesn't cost anything. be sure to tell them of any special attributes your property might have.
good luck & let us know how it turn's out. i'm sure if you run into diffaculty there are many people who can steer you in the right direction.