I am trying to do some research on the pros and cons of selling my house without a Realtor.?

Question

Is there a website that anyone knows of?

Answer 1

Depending on your area, you could pick up a magazine. Go to www.fsbopublishers.org and look there and see if you have a local fsbo. it's a lot easier than people think. The total time on the market per a realtor is 6months to 1year. We just had one sell in 4 hours. That is unusual for the market right now, but it's true. As long as you have your home priced right, then it will sell. The reason the market is the way that it is, is that there is an influx of homes on the market. Buyers have options.

Answer 2

I'm a Realtor and the pros and cons of selling your house without using a Realtor depends on you. For instance, if you have the time and financial resources to sell your house at in a fashion that would give you the most for your property investment then by all means go ahead and Good Luck!

The pros to using a professional realtor is they already know the market in your area and have access to comparable properties in your area as well as detail information that you may not otherwise have access to. Of course theres alot of information on the internet at your finger tips but one of the pros are time, effort and savings. Granted that you may need to pay a certain perchange for the expertise but selling your home involves having it inspected, updating arrangements of home decor cosmetically for the exterior and interior to display a comfortable and clean viewing for prospective buyers. Aso most important the Realtor have authorization to use the MLS (Multiple Listing Service) database so that your home can be view buy hunderds of thousand buyers and their Realtor so that service is a huge advantage for you as the sell. Usually homes that are upstaged and held professionally by an Realtor with open house on a weekly or bi-weekly term
sells within the first month of putting the property on the market for sale. Most owners who sell their homes usually don't sell their homes until 4-6 months on the average or may as long as a year. Before you decide to sell your home on your own ask yourself these questions. How much time are you will to receive buyers to view your home? How much money are you able to invest for advertisment? How soon do you want your home to sell? Good Luck

Answer 3

Pro - cheaper

Cons - you have to show it yourself and advertise it yourself. Even with an advertising cost, though, you are going to come out better off money-wise

Cons - not included in the MLS, so can't have your house listed in MLS homes for sale books or on realtor.com and other online websites like that (this may be changing soon - legislation is in play). You will only be able to advertise it in homes fsbo books, local paper, homes fsbo websites, make your own website, bulletin boards. It's harder to get attention from people out of the area with a fsbo home since it's not on MLS.

If you are in a hot market and aren't squeezed for time, try selling it yourself for 2 months and then re-assess that decision.

In my neighborhood, most people do FSBO because a house rarely if ever sits on the market for more than 4 weeks - most sell within the first two weeks. If it's a hot market, the buyers will find you - you don't need an agent to advertise.

As to time to come to closing, you will just need to hire a title company to do your share of the paper work. That will cost a few hundred dollars (in addition to the fees that a seller usually normally has to pay).

Answer 4

Frankly, you don't need a real estate agent to sell or purchase property - you already know that. People do it every day of the week - all over the country. In the area of real estate, it was estimated that one in three homes that sold were sold by their broker.

Even the National Association of Realtors estimates that nationwide thirteen percent of real estate sales are done without any involvement from an agent or broker.

An agent may tell you that a great reason to use them rather than selling "by Owner" is that they can place your home in the Multiply Listing Service, and you can not. They may imply that your chances of selling without being in the MLS are next to nothing.

Baloney!

Remember that up to one in 3 homes sell by owner and very few, if any, of those were MLS listed.

What I learned from working with 2 real estate companies is that most buyers look at For Sale by Owners as well as listed homes. They don't limit their search to only what is in the MLS - in spite of agents efforts to limit them to that inventory.

Answer 5

Home selling by yourself has its own rewards. Since you are on your own, you can surely save a lot of money from around $4,000 to $12,000 or even more in expenses. The most important edge here is that you won’t have to pay the required six or seven percent brokerage fee or commission as all the proceeds of your sale will go directly to you. You are in control of the transaction hence, you can avoid the mistakes made by other agents. You can even sell your home fast and easy because you can set a more aggressive price for prospective buyers. You can lower your price anytime you want to attract more buyers. If, in case, your equity is low, you may not need to write a check in order to sell your home. Another advantage of self-selling is your availability anytime to accommodate potential buyers who wish to have an ocular inspection of your house. Also, you have the opportunity to reply instantly to telephone inquiries.

On the contrary, there are some disadvantages that you need to take into account when selling on your own. The first thing you have to understand is the fact that you will have to shoulder by yourself all the costs of marketing and advertising. There are some web sites, though, that can help you in your marketing needs the more practical way. You will also have to manage all the paperwork and legal forms required. You will do all the legwork and therefore, you must depend on your instincts. Another responsibility you will have to face concerns severing emotional attachment with your house as you are doing everything on your own.

We share with you some tips to help you sell your home with great success. Your priority should be to prepare your home for showing to potential buyers. Keep in mind that you have many competitors in your area so do your very best to clean and organize your home before putting up that “for sale” sign on your front yard.

Information on disclosures should be factual since it is a legal requirement. Not revealing the real details and not using the proper form may end up in a legal suit from a buyer.

Advertise and market your home aggressively. Make your house shine from all the others in your area. You can advertise in a lot of ways – via your local newspaper, email, listing sites that offer free services, brochures and of course, by word of mouth.

Study and research well on the selling process including the forms required as early as possible. Know the housing laws and the current market condition in your area. Getting all the information on this important financial transaction is a good step towards a successful home sale.

Consult your lawyer and financial advisor to guide you on the legal and financial aspects of the transaction.

Answer 6

You can do it, if you are determined. Sad to say, however, of the roughly 12% of sellers who go it without a realtor, a paltry 2%-3% are successful.

Most sellers are not prepared for all the intricacies of staging a house for sale, proper pricing, open houses, advertising, and showings which a realtor normally handles. A real downside is having to show the house yourself to prospective buyers.

As the real owner, you MUST honestly answer all questions posed by buyers. If you do not, you can be sued for misrepresentation of material fact after the sale. A realtor is prepared to handle such questions with tact and good responses without hindering a prospective sale, and without misrepresenting.

Additionally, nearly all real estate agents carry E&O insurance to cover any such situations, should they actually arise after the sale.

Be prepared fully to take on this venture, should you decide to go forward. As a real estate agent looking for listings, I tend to visit FSBO's after they've been on the market for 60 days. You'd be surprised how many are willing to sign a listing contract on the spot.

Answer 7

you do no longer could desire to apply a Realtor as your advertising agent, regardless of the indisputable fact that, comprehend that brokers representing shoppers could carry a qualified candidate, and could anticipate some variety of repayment, oftentimes a minimum of two.4 looking on your industry. Will you have the flexibility to sell on the point that a advertising Realtor ought to, or do you have already got somebody in strategies?

Answer 8

Since I'm in the business and if I told you it is in your best interest to do it with a licensee you'll probably think that I'm saying that because I've been in the business longer than dirt has been on the ground so Im not going to tell you that. What I am going to do is send you to see what the government says
HUD Tips on selling your home
(With a realtor, without one)
http://www.hud.gov/selling/index.cfm
Best of luck to you

Answer 9

Here's the biggest con. Most buyer's will take 6% off the asking price because you did not have a
Realtor. Think buyer's don't know this, think again.

You did not get professional help, but still had to pay the fee:(

Terry S.

Answer 10

Been there done that, doesn't work, especially now with the way the market is, houses listed on the MLS, advertisements, and with both agents working are taking about 6 months to sell, the market is so different now, It won't work, I tried a few years ago with another home I had and got nothing but headaches, it took me much longer, had I done it the right way. I would've saved lots of aggravation!