Is there a way to sell a home and acreage in Texas without paying a commission?

Question

I want to sell my home and acreage in South Texas without paying a 3%-6% commission. Is there a way to list it online?

I looked up for sale by owner, but I would still have to pay the buyers realtor commission, I don't want to do that. I am going to sell the property for over $1 million, and don't want to have the high fees.

Answer 1

Sure, you can sell it yourself. Though you're not covered by Errors and Omissions insurance, so if you screw up the contracts, do something discriminatory (even unintentionally), etc. then YOU are liable. I don't know about you, but I'm not an expert in Real Estate law, so I leave that to those who are.
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Answer 2

It is considerally more costly to sell a $900k home than a $200k home. There is a lot more work and the advertising is much more expensive. Plus there is a much higher probability this does not sell during listing term. This agent stands a very good chance of losing money on this deal because you may change agents in 6 months. There is a good chance you will price it too high and never give this poor agent a chance to sell it. That is a fair quote. Here is what you do. Ask for a 5% commission and ask that if buyer has no realtor then commission be reduced to 4%. Keep asking until you find an agent who will do this. This is totally up to you to sell this home. If that $900k is not the market there is nothing this agent can do to sell it. You should be reducing price every 30 days.

Answer 3

Sell it through a real estate auction. You will pay a marketing fee. Expect it to be a couple thousand. With vacant acerage you shold also have some expenses as they prepare a due diligence package that verifies how the land can be developed and split as well as any oil or mineral rights. Sale should happen 60-90 days later. The buyer pays a premium over the winning bid that covers both the auction expense as well as any realtor fees.

Make sure you work with a successful auction house that has sold the same kind of property that your looking to sell. They need to know who they will be marketing to.

Answer 4

Create your own website. Many people do.

Talk to someone about helping you put the website up; it won't cost a lot of money and it would be worth it.

However, why would you object to paying 3% for selling a $1 million piece of property. I mean, really, you want to sell it but you don't want any help>

A professional realtor has access to many resourecs that you will never have access to, and many people with money. Choose the right land broker and you will have the property sold in no time. Why would you think 3% is too high for someone's years of expertise and knowledge and contacts.

sounds like you are really cheap to me.

Answer 5

Yes. Advertise it as "for sale by owner -- no broker cooperation." Of course, then you have to find a buyer yourself -- no small task on a property worth over $1 million. I bought a house once without using a broker; there were no particular problems involved since I was familiar with the necessary paperwork.

Answer 6

Anywhere in the U.S., you can sell the property yourself, just pay for title insurance and whatever else is required by law in that jurisdiction.
I would recommend http://www.zillow.com/ One option they have is "Make Me Move", in which people can list their real estate and list it for about 14% above the valuation...Of course, you would have to do most of the work yourself
There are a number of other websites available, but I would suggest zillow.
Of course, there is also the old newspaper route; select a national or at least regional publication for best results.

Answer 7

Try listing the house for sale on craigslist if you want to sell your property by yourself. If your local newspaper has an online ad section, then you can put your house listing on there too.

Answer 8

You will need to find a buyer who is either not working with a Realtor, or does not mind paying their Realtor $35,000 out of pocket. Good luck with that...

Answer 9

Nope you are paying either way. You can save yourself money if you sell yourself. But you are still paying the buyers realtor.

Answer 10

mmm ebay? talk to a lawyer, you obviously have the money.... sell it BY OWNER and then be VERY picky.. ONLY accept calls from indivuduals, not realtors...... you are NOT bound to accept calls and offers from peopel represented by realtors......