whats the procedure in sellin property without a realtor?

Answer 1

I don't think its a smart idea. 90% of people buying homes go thorugh a Realtor. The other 10% don't and those are the people looking to find a deal. Go on the NAR (National Association of Realtors) Website and you'll see that people who use a Realtor actually net more than ones who sell on their own.

You will also incur costs that your Realtor will pay if you used one such as attorneys, signs, advertising, etc. Also, if you don't know what you're doing when it comes to selling a home people will know and you don't want to get taken advantage of.

My advice is if you REALLY want to do this on your own find a Realtor who will help you at no cost give advice. This is what I do. I'm a Realtor who gives free advice and answers questions on real estate law for FSBO and I never pressure them into listing. What I ask for is just the referrals of people who come into their house but can't afford it for whatever reason and I help those buyers. What happens is once they realize its hard to sell on their own they hire me - most of the time. There ARE Realtors who will help at no cost.

You need:

1. Contracts
2. TIME. Most people who come to open houses aren't standing in the home for them. They are beginning their search, they don't know what they can afford, they aren't preapproved, etc. although you MIGHT get a sale it is very unlikely.
3. Signs
4. Property Disclosure
5. Attorney
6. Advertising on internet and paper
7. Client handouts for when people come for a showing
8. I would also contact real estate firms and let them know your home is for sale and offer a co-broke of 3% with an acceptable contract. It may work. Although most Realtors shy away from selling FSBO because its more work and risk.

I would also like to add if this should end up in court who do you want the buyers to sue? Your agent or you?
Feel free to contact me should you have any questions. I'd be happy to help. Good Luck!

Answer 2

This is like going to court and being your own attorney, it's not real smart.
Your still going to have to get an attorney to do all the legal land contracts and, probably a broker to do all your land work. Most likely a mortgage company isn't going to allow you to work with them without the knowledge of a Realtor. A bank might look side wise at what your doing also, without proper knowledge.

I don't know what your trying to do, save the percentage you'd pay a Realtor, they're the ones that have to back up everything they do. Without them, your going to be sitting out in left field and open for lawsuit. But, good luck.

Answer 3

It's easy. Just do the same things your realtor would do if you listed the home for sale. Get it listed in the MLS (about $500), advertise it in the newspaper and elsewhere, put a sign in the front yard, hold open houses, show the house when a potential buyer appears, and prepare all the paperwork needed when you find a buyer.

Then, be prepared to have any buyer knock off his asking price about 6% (typical realtor fee). Why ? Because these buyers are savvy, and they KNOW you're trying to save the realtor fees. They want it in THEIR pockets as badly as you want it in YOURS.

Answer 4

you may not need a realtor but you will probably need a lawyer or accountant since you will have to file/record many forms / papers unless the buyer or bank takes care of it or unless you do the research as to what and where everything has to be filed.
It is probably easier to sell on your own than to buy on your own

Answer 5

If you are asking, then you probably should hire one. People think that Realtors are not worth their commission, they are wrong. Hire a Realtor, you will be happy you did.

Answer 6

Let people know you are selling your home. (newspaper, lawnsigns)

When somebody is interested they should do an offer to purchase. and their loan officer will be able to provide some assistance with the rest of the legal procedures.