My house is on the market right now with a real estate agent (no buyer yet), but I am wondering how much harder it would be to try to save the commission and sell it myself by owner. What are the drawbacks?
2006-09-22 06:20:18 · 9 answers · asked by nido_tr3s 5 in Business & Finance ➔ Renting & Real Estate
There are alot of factors to consider when selling a home. First and most importantly, you must know how to price your home properly. Ask too much and you lose potential buyers. Ask too little, and you lose money. Realtors are experts on current market conditions.
Secondly, the time factor. Buyers want to view homes at their convenience, not yours. How available are you too show your home? A home that is listed will have a lockbox, and will be avilable all the time.
Third is safety. Who are these stangers that you are letting in your home? Realtors pre-screen everyone before entering your home.
Fourth, the MLS. Statistics for 2005 showed that 84% of all home sold were purchased with the help of an agent. So by trying to sell it yourself, your only going after about 15% of the market, and most of these buyers are just looking for a bargain.
Fifth, in today's litigious world, you MUST make sure you follow all the laws and disclosures. These change all the time. Realtors are up to date with all the regulations.
And sixth, that commission that you think you are saving, is what the buyer thinks is his savings off the purchase price. So, you're not really saving anything. Good luck.
2006-09-22 12:37:08 · answer #1 · answered by Hoopfan 6 · 1⤊ 0⤋
The draw back is the Realtor is available to show your house everyday. You, if you work, would only be able to show in the evening and weekends. Can be a hassle. Also the Realtor will advertise your house, which if your selling yourself you will have to pay for. The Realtor has contact with people everyday looking to buy. The Realtor also knows all the proper step to take once the buyer has been found - they have the contract to purchaser, the state mandated disclosure documents etc... It's not impossible to sell it yourself (I've done it, but I work in the real estate industry), but if you don't have the time to invest it can be a little overwhelming. Hope, like on all those home shows, you sell it for "more money than it was listed for". Good luck
2006-09-22 06:35:34 · answer #2 · answered by Kathleen M 4 · 3⤊ 0⤋
Selling by owner can be a great idea. You can save a lot of money. What sometimes or even a lot of the time makes a Realtor useful is the exposure your property gets on the Multiple Listing Service (MLS). There are many firms that offer the MLS for a flat fee of around $500. This means you pay the $500 up front, get your house on the MLS system and you don't owe the listing agent any commission. However, by being in the MLS, you are agreeing to pay commission to a Buyer's Agent if they bring you a successful offer. This still saves you a ton of money. Good luck. :)
2006-09-22 06:29:57 · answer #3 · answered by Anonymous · 1⤊ 2⤋
Having a dogs interior the abode purely hurts the fee of the abode if the dogs has led to injury or made the abode look grimy. listed here are some examples. a million. The dogs led to holes interior the outdoor the place it digs. 2. The dogs chews on products in and outdoors the abode. 3. The dogs urinates in or outdoors inflicting a bad scent. even nevertheless you think of you wiped sparkling it up there remains a lingering scent. some people who own dogs enable the dogs the outdoor to apply as a restroom.The backyards grow to be a mine field (feces everywhere). 4. dogs hair in the process the abode. you could vacuum yet will on no account get all of them. answer- in case you shop the dogs you're able to bathe consistently. Vacuum and use air freshners. try leaving the dogs with a relatives member on an identical time as you sell your place. you could pass to and re-unite with fido while the abode sells. sturdy success with the sale.
2016-10-01 06:13:26 · answer #4 · answered by bradberry 3 · 0⤊ 0⤋
First, if you do this on your own, you'll not be in the MLS, which is the Multiple Listing Service. It is searchable by all realtors who have BUYERS in your area! Also, you will be flying solo and not have anyone representing you. That in itself is crazy when considering your home is the most expensive investment you likely have.
2006-09-22 07:05:13 · answer #5 · answered by JaneDivided 4 · 3⤊ 0⤋
The main thing a listing agent does, if he or she is any good, is market (ie advertise) the home. Beyond that, they do very little in getting it sold other than faxing contracts and things to the buyers agent.
2006-09-22 06:28:20 · answer #6 · answered by mzJakes 7 · 2⤊ 1⤋
A realtor who is part of the Multiple Listing Service, MLS, can advertise your home to other realtors, even in other states, where people wanting to relocate to your area could see it. Selling it yourself limits your market.
2006-09-22 06:26:36 · answer #7 · answered by smartypants909 7 · 4⤊ 0⤋
agent is conversant with actual market price and intricacies of govt.formalities for documenting as well as the keep on getting the buyers and sellers in their office.it is time consuming. if u have the same zeal u can do of u r own
2006-09-22 06:38:53 · answer #8 · answered by snyl 2 · 1⤊ 0⤋
The only drawback is time. If you have time to take calls from interest people, have open houses, and do follow-ups, it's easy. Look around websites such as www.forsalebyowner.com. They can provide you with everything you need, including getting your house on the MLS.
2006-09-22 07:10:32 · answer #9 · answered by KL 5 · 1⤊ 2⤋