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I think real estate agents charge way to much for what they do. It seems to me that in the modern information age I should be able to get it out there and sell it myself and save thousands.

I am gonna try it!!

Input appreciated if anyone has experience.

Thanks!

I think real estate agents charge way to much for what they do. It seems to me that in the modern information age I should be able to get it out there and sell it myself and save thousands. I am gonna try it!! Input appreciated if anyone has experience. Thanks!

(post is archived)

[–] 4 pts

I have. We used an attorney. Saved all the brokerage fees. Was straight forward. We split the legal fees.

We did survey before selling and the transaction included declaration of transfer and so on. For example, property had an old out building which was not code so it was sold as a dilapidated structure, not sold as a building.

[+] [deleted] 3 pts
[–] 3 pts

In today's real estate market where inventory is crazy small, yeah FSBO could be a good deal because its easy to find potential buyers. Still need an attorney though to CYA, but they charge a flat fee.

[–] 1 pt

I was thinking the title company would handle most of the stuff. Haven't gotten that far yet.

[–] 1 pt

I guess some title companies might do that, but personally I'd rather have someone that has a legal duty to represent my interests.

[–] 1 pt

I kinda thought the title company would have that type of responsibility. Gonna have to look into that some more. Thank you.

[–] 2 pts

I sold a condo for cash in 3 days using craigslist.

[–] 1 pt

No, but I like the idea of not paying 5% of the value to some schmuck.

[–] 2 pts

3 percent to selling agent and 3 to the buying agent!! So I'm asking 600K for the place, that's 36 Grand!! If I don't have any luck then I guess I'll have to bend the knee but I gotta try!

[–] 1 pt

I sold several homes that way.. One where the BUYERS agent tried to extract a commission from ME. I had a real estate attorney to review the contract and used a reputiable title company. I figure i have saved 100k over the years.

[–] 1 pt (edited )

pay for an appraisal on the side to get an approximate market supported value. should be $300-500 depending on your area, but this price is if its NOT through a bank.

I'd set the asking price 5% above the appraised value.

post on FB, zillow, trulia, redfin. zillow may actually aggregate to other similar sites like trulia and redfin so you may only need to "post it once". take only what you deem to be qualified buyers, maybe ask for a "pre-approval" letter from their lender/bank so you know they're not just tire kickers.

if you know a decent lawyer or at least know of a good one, hire them to go over the Agreement when presented.

yes the appraisal and lawyer will cost a little more but winging those things is honestly fucking retarded unless you're in real estate in some capacity and have been through the process many times or have fuck you $. I've seen ppl not pay for a $500 appraisal, but leave $15k on the table because their listed price was too low. makes no fucking sense. if you start a little high you can always come down, but pretty hard to go up once you set a price short of a bidding war.

you don't need an agent, but you need a few professionals imho.

best of luck. hope it all works out for you.

one other thing I thought of. be aware of the type of financing offered. if it's a conventional loan or cash (the best) then that shouldn't be a big deal, but FHA/VA/USDA have some requirements for the home which may put you in a spot to make repairs. maybe that's something you're willing to do and maybe it isn't. I'm just making you aware. make sure you know the type of loan the potential buyer would be getting and research to see the standards your house has to meet to qualify... or make the buyer pay for it all. everything is a negotiation.

[–] 1 pt

Awesome reply, thank you. I am planning on using a title company and a lawyer for sure. I currently have a VA loan on the place so I at least know it qualifies for that and I am a contractor by trade so I can fix anything!

Great advice though, thank you.

[–] 1 pt

sure thing my friend, you're very welcome.

to be honest, as the seller can I ask why YOU need title? IMO that's part of the buyer's due diligence.

there's certainly nothing wrong with you doing it, but if you want to save money I don't believe this should be your obligation. Talk to your lawyer first, but I think they'll tell you what I'm saying.

take care bro.

[–] 1 pt

You're probably right about that, I am going to have to do more research on it. I'm right at the beginning of the process here, a long way to go. Thanks again.

[–] 1 pt

I grew up in a "Buyers Market" and everybody became a real estate agent to save the fees, the buildings sold new for $100 grand but no one ever got more than that when selling 20 years ago. The most jewish job ever protected by the gate of needing a license. Why do you need a license to sell property/buildings? Oh, because there's swindlers and schisters selling property? You hire other swindlers and schisters to sue them.

If you do sell by owner, get it inspected (oy vey...more swindlers and schisters...) and fix the problems they find and provide the documentation that everything is on the up and up. I'm in a fantastic mode today, I can tell just by my tone in this reply...

[–] 1 pt

what's funny is the entire idea behind the REALTORS guild is essentially creating trust in the public so housing prices were somewhat in line. boy how far they've strayed from the path, if they were ever even there to begin with.

they know any mid wit can sell or buy. the smugness of some agents is beyond comprehension.

[–] 1 pt

I had a client who did. He was pissed with his broker and after his contract expired he hired me (a web developer) to put together a website and some real estate related social profiles for him. After 2 years of nothing from his broker he sold the house within a month of releasing his own advertising.

The program involved a single page website with 3 photo galleries (interior, exterior, land/yard) and a video from a drone showing the whole place.

That link was added to a Zillow page which he used to drive people to an open house where he found a buyer for the property.

Good Luck.

[–] 0 pt

That's awesome. I can imagine the satisfaction he felt after all that.