I have both bought and sold without a realitor.
I paid a real estate lawyer to handle the paperwork. It cost <$1000. --- SAWMAN
Yes, you can sell it your self but you need to educate yourself, have an bullet proof contract maybe a Lawyer, and a Title Company that will help you and do the final actions.
Realtor commission fees run from 5 to 7 % , that’s $25,000 to $37,800 on a $525,000 house . It would be cheaper to deal with the mob. :shocked: :faint:
Realtor commision percentages are negotiable or you can cap them. There's Seller Agency % and Buyer Agency %. If Buyer is represented by your sam Agency why would you pay them "twice". Look at the differences in final total commissions on a $1K property and a $5K property; At 6% total the first is $6K and the second is $30k: FOR THE SAME WORK!
Agencies will whine about different group size of potential buyers or list reasons your property is hard to sell. B.S. Do a realtor contract with your terms, commision persentage for selling Agency AND commision % limit for Buyer Agency. Could be 2% to Sell and +1.5% if they bring Buyer, 2% for outside Agency buyer. Its business and their are a lot of Agencies that want yours.
Don't just "pick an Agency", interview several! See how they will market you property: picture sale ad every week in 1, 2 local papers and local real estate brochures, will it be included in general TV ads? Set conditions: set the duration of you contract to 90 days with YOUR option to extend at 90 day intervals. Interior showing only to "pre-qualified" buyers. See how many other Agencies show up for Agent viewing event. See how much buyer traffic you get and the frequency during the period and subsequent periods. Drop low traffic agency at contract end of contract in writing. Fire your agent and ask for a replacement from agency if he/she has traits, demeanor, personality, appearances or other off-setting issues. I've fired them for unprofessional appearance, hygiene issues and " everything is comedy remarks.
Know that you must do your part as the Seller, price MUST be reasonable even in a sellers market for condition and and location. Well maintained, clean/neat and no "eccentric stuff" gets more serious consideration and appropriate offers. You really need to accommodate potential buyer viewing requests/times. Get out of the house so buyers and agents can talk openly, both can say things you might take offense at (you love your 70's shag carpet and built in cat play ground that goes through five rooms, they might not). Even "their agent" wants to sell your property. they will bring questions if they have any. Discuss but never argue in front of buyers. Have a current (within10 years?) Property survey and know where the property lines physically are, who actually owns fences and if any Right of Ways exist, water, mineral Rights, historic restrictions. Improper property disclosure statements can break a deal or create financial liability. "Soft roof led to seven saging burnt roof trusses (and pylwood) that had 2X4s bolted thru them. It was undesclosed damage from a laundry room fire that seller "forgot about": Voided Contract.
Yes, you can sell it your self but you need to educate yourself, have an bullet proof contract maybe a Lawyer, and a Title Company that will help you and do the final actions.
Realtor commission fees run from 5 to 7 % , that’s $25,000 to $37,800 on a $525,000 house . It would be cheaper to deal with the mob. :shocked: :faint:
Not to mention that fee is added into your mortgage and now you can quadruple that amount over the 30 year mortgage.
nope-comes out of the seller's pocket
Depends on the terms/agreement between buyer/seller.