True or false
2007-09-07 17:17:32 · 7 answers · asked by crazy eddie 1 in Business & Finance ➔ Renting & Real Estate
It's a toss-up. If you don't mind doing the work of selling your own stuff, you won't have to pay a commission. Yet at the same time, a professional salesman is likely to get more money for the same thing, so you might get the same amount either way.
Example - you sell it and get 5K and keep it all.
The salesman sells it for 6.5K and you get 5K.
Is one better than the other? The moral is, buy from private sellers, you'll probably pay less.
2007-09-07 17:27:42 · answer #1 · answered by Anonymous · 0⤊ 0⤋
There are absolutely no studies on this, but the general impression most people have is that FSBO homes generally sell for less than those homes represented by real estate agents. This makes sense, because when you put it on the market with a realtor it gets on the Multiple Listing Service, so gets access to lots more buyers. Also, I have found most home owners underestimate their ability to sell and overestimate the price of their home. An absolutely true fact is that 80% of all FSBOs end up listing their house after failing to sell.
So my experience is that if you don't know about what it takes to market your house, generally what savings you would have received are eaten up by less money from the buyer.
However, if you are smart, learn how to market your house and can do a good job of it, you can do as well or better than your average real estate agent.
2007-09-07 18:14:10 · answer #2 · answered by rlloydevans 4 · 0⤊ 0⤋
Fact is that once a buyer realizes there is no agent involved they low-ball the offer.
If you're thinking of doing this it's not impossible. Just know you've got your work cut out for you.
Examples of what a Realtor does behind the scenes:
1. Assures only qualified buyers get in your house.
2. Lists the property on the M.L.S. - Multiple Listing Service
3. Advertises your home for sale in target areas.
4. Available for inquiries and to show the property 7-days a week.
The list goes on. While I'm not trying to be a cheer leader for the real estate community the fact is they do work for the money. Most people who try to sell their own homes have NO CLUE what they are getting themselves in to.
I say if you are up for the task, go for it. Just do your homework first.
2007-09-07 17:39:37 · answer #3 · answered by loancareer 3 · 0⤊ 0⤋
depends.
If they sold the property in a very short period of time, yes. If it took them months to do so, then their time must have been worth something, because it required work, showing the house, advertising, and doing things over and over until it was sold. So it really depends. In this market, one is better off with a realtor and I am not one.
2007-09-07 18:05:00 · answer #4 · answered by Hamada 2 · 0⤊ 0⤋
About 15% do, but often there is a buyer's agent involved pocketing the usual 3% fee.
So, mostly true.
2007-09-07 17:35:07 · answer #5 · answered by Ginger 6 · 0⤊ 0⤋
Sounds like it.
2007-09-07 17:24:23 · answer #6 · answered by Morningstar 4 · 0⤊ 0⤋
IF they found a buyer . . .
IF the buyer was not working with an agent . . .
>
2007-09-07 17:25:41 · answer #7 · answered by kate 7 · 0⤊ 0⤋