I was planning not list my home for any broker but would give my house sheets to all brokers in the area and if any agent or broker get me a buyer then I give them 3.5% commision for the buyer side but I will not use a seller agency.
I was thinking of going to all brokers and give them some handouts of my house. Would they just throw it in the trash can or tell buyers there is a house on sale that is not on any listings?
This way I can lower my home price to better able to sell my house quicker since I need to move out of state.
Is it also common to give credit of $10,000 to $15,000 for the buyers so they can use the money for remodeling or should I just lower the price so low below market to attract buyers?
I did sold my first home be self but the buyer was an real estate agent. He got a good deal. I have to move so I was think of using an agent but just asking is it hard or easier to sell this way from my question. Or what about 4% to the buyer agent? It should attract more agents to send buyers to look at my house. Am I right?
I’m using logic here but the only thing is maybe brokers have a pact that they don’t deal with such transactions. I will have to go to some brokers and see what they say.
The worst case is I go with a broker and pay them 6%. I have more leeway to lower the price to attract more buyers. This is my thought of doing this. Few thousand means closing costs are lower for me and the buyer.
Do buyers like lower price or higher prices? Sometimes it seems buyers like to pay more. Am I wrong?
Rent Back
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#1 by Mary B at July 5th, 2009
If there is anyone that needs a listing agent, it’s you, and I’ll tell you why.
Selling your own home is for people who are either in the business, have done it several times, or otherwise known the process.
Keep in mind that you seem to be the type of seller that would probably “talk” your way out of selling your own home.
Put a sign out in your yard with something that says “Will co-broke at 3.5%”, and a box with flyers…be SURE you have a phone number that can be reached at all times.
Why are you willing to price the house below market before you even try to sell it? THAT is why you need a Realtor.
The buyers CANNOT get cash-back at closing for remodeling….banks won’t allow it.
#2 by Tom B at July 8th, 2009
An agent should, if they are doing their job, be able to drive enough buyers your way that you will get te price required to make everybody happy in the transaction.
#3 by godged at July 9th, 2009
FSBO people bring their flyers by my office, and they are generally thrown away. There is no “pact” not to use FSBO properties, it is just a hassle. I can access all the listed properties on my MLS, am I to pack your flyer around and make copies for my clients?
Price is king right now, so lower your price to attract buyers.
With 1 in 5 sellers trying FSBO, you aren’t alone, but there are statistics that show that 10% sell. If a Realtor can obtain 16% more for your property that selling FSBO, there is another whole vein of logic to check out.
#4 by glenn at July 11th, 2009
I am a real estate agent. I am reluctant to show a FSBO, here are a few of the reasons:
One: Is the seller fully advised to make an honest and full disclosure?
Two: will the seller try and find a way out of paying me(maybe try and sell it to my buyer direct or I had one FSBO that in the middle of the negotiations turned to me and said “If you just leave we can work it out much better without your commission!”)?
Three: If there are repair issues that come up will the seller be able to deal with that logically on their own?
Four: The seller is in effect saying that they don’t believe agents are of any value and that is directly attacking my way of earning a living.
Five: When I search the multiple listing data their home does not pop up so I just don’t often think about those homes.
Six: Almost every time I show those homes they are priced way to high and the listed homes are a better buy.
i have never heard of any group of Realtors deciding to not show FSBO’S. We are very independent and each make our own decisions.
#5 by MikeHaleHomes at July 11th, 2009
There are some discount brokers that will charge you a flat fee and enter into an “Exclusive Agency”agreement where they only charge you a full commission (still us ally less than a full service brokerage) only if they bring you a buyer.
They do have less incentive to market your house though, and you’re usually better off going with a full service brokerage.
If you list with an agent, they can lower your list price when ever you want, by however much you want. Listed in the MLS this will catch the eye of other Realtors as well.
To be honest, if I get a flyer for a FSBO, unless I can think of someone that is looking for that just that house, they go in the trash. Too many headaches to deal with.
As for the cash-back, banks will not go for that anymore. You could offer to pay their closing costs as an incentive.