Anybody Sell Their House By Owner?

1

105950

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Just signed a contract for a new house, so that means we have to get ours on the market.  I really want to do it myself, considering I have never been impressed with realtors.  Why give them the 6% when I can do it myself?

inform me
 
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Joined May 8, 2013
plenty of people have done it, but you have to do all the work show the house all day long etc. That's why people hire professionals for their networks and they should be able to get you a higher price then you can.
 

plansb

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Depending on the house and how hot the market is where you're at, I think you can do it. My wife and I have been shopping for about 3 months now and every move in ready house is selling over list within 24 to 48 hours. I don't think real estate agents are really doing anything around here involving networks. People see them pop up on zillow/redfin/etc. Before the trend mls listings are even emailed out. And though you may have to show the house yourself a couple times, chances are the buyer will have an agent who can show them the house.

I would do it myself if it was a hot market and a nice house, why pay someone 3% or whatebrr, when they really aren't doing that much? I mean the guy who sold my parents last house just took some pics and posted an mls listing and the buyer found it on zillow and it sold in two weeks. The guy never even showed the house to anyone himself. And he probably made at least 10k, that's just absurd to me. Just my opinion.
 
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1

105950

Guest
Depending on the house and how hot the market is where you're at, I think you can do it. My wife and I have been shopping for about 3 months now and every move in ready house is selling over list within 24 to 48 hours. I don't think real estate agents are really doing anything around here involving networks. People see them pop up on zillow/redfin/etc. Before the trend mls listings are even emailed out. And though you may have to show the house yourself a couple times, chances are the buyer will have an agent who can show them the house.

I would do it myself if it was a hot market and a nice house, why pay someone 3% or whatebrr, when they really aren't doing that much? I mean the guy who sold my parents last house just took some pics and posted an mls listing and the buyer found it on zillow and it sold in two weeks. The guy never even showed the house to anyone himself. And he probably made at least 10k, that's just absurd to me. Just my opinion.
my thoughts EXACTLY

we are in a seller's market, in a desirable location.  I got this.  20k is better in my pocket than some air headed realtor.

I feel realtors are going the way of travel agents these days.
 
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plansb

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Joined Jan 11, 2014
my thoughts EXACTLY

we are in a seller's market, in a desirable location.  I got this.  20k is better in my pocket than some air headed realtor.

I feel realtors are going the way of travel agents these days.
yep. Most will be replaced by the internet/apps.

I've always had an issue with realtors and their commisions, for the most part. But I think as a buyer I have learned to respect them a little more, at least the ones that dont just email you listins and open up a door for you to look around. For example, we are currentlt also considering a fixer upper and my agent now has been flipping houses for 15 years and has a wealth of construction/homebuilding/etc. Knowledge and he gives great advice and insights that your typical realtor wouldn't. I think he is earning his money with us. As a seller in a seller's market - they aren't doing **** but falsely taking credit for selling the house.
 
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Despite what you think, even in a seller's market you'll make more selling with a Realtor than without for several reasons. First, you're still going to have to pay another Realtor to bring you a buyer, so that's an automatic 2-3% out of your pocket unless you REALLY want to limit your options . While Zillow is the largest Real Estate website in America, most people don't actually find their home on there. Realtors have access to the MLS which posts available properties within 4 hours of hitting the market.

Second, a buyer using a Realtor has a level headed third party negotiating on their behalf. Who's going to act in your best interest and make sure you're abiding by all necessary laws? Do you know what your contingency rights are? If you're not a Real Estate expert, it can be very costly.

Which brings me to my next point. While you may think you're giving up 6% by using a listing agent, (only 3% is going to them), the average FSBO actually gives up somewhere around 7-15% of the sale price vs. selling it with a professional.

If you haven't been impressed by Realtors in the past, it's probably because you haven't vetted them well enough. Interview at least 3 and do some research on the number of homes they've sold. Most will post past sales on their Zillow profile. Also ask them what their selling strategy is on the listing appointment. And don't just settle for "I'll syndicate it to the largest Real Estate websites". EVERYONE can do that now days. What do they do over and beyond that to be the most aggressive agent acting on your behalf and actually earn their 3% besides just sticking a sign in the yard and putting it on the MLS? Will they notify their database? Will they advertise it on Facebook? Will they get an AdWords campaign going? Will they actually take professional photos with a voiceover virtual tour, or just pull out their iPhone and start snapping shots?
 yep. Most will be replaced by the internet/apps.
Actually, the trend is going the other way. 88% of consumers are using an agent now vs. only 69% in 2000.
 
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Your better off giving it to a realtor fam

They wanna make the most money for themselves and also you.
 
1

105950

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welp, i'm going to give it a go..will keep you posted on my journey
 
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By hiring a realtor you can weed out the people who don't really have the income to buy your house and are just wasting your time. In any case good luck with the sale!
 
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welp, i'm going to give it a go..will keep you posted on my journey
Good luck. Don't forget to vet people before you let them in. You never know who's looking at homes.

Might want to buy a lockbox too and change the code nightly.
 
1

105950

Guest
 
Good luck. Don't forget to vet people before you let them in. You never know who's looking at homes.

Might want to buy a lockbox too and change the code nightly.
Thanks @crcballer55

I put it on the market late last night.  To avoid having random people walk through, I'm requiring a pre-approval letter from their bank if they don't have a realtor.
 
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105950

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First showing was yesterday, they were there for about 45 minutes.  They scheduled another showing to come back on Monday.  
 
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Real estate agents were needed back before the Internet was made :lol:

As far as selling after seeing all the paper work done between initial contract and closing I wouldn't even know where to start.

As far as "selling it" ie showing, salesmanship, ect, I think it's easy. It's not like a car or something. People initially know if they want it or not due to location, condition, year built, price, size, layout and school system. They come in basically looking for reasons not to buy.
 
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