Sometimes a person needs to spend more time and thought on why they WANT something than any other decision. This is a huge financial decision being made on what you WANT. Maybe it is time to think about what you NEED to do and if that is in anyway possible by doing what you WANT..

In most markets selling a home is difficult these days! Mostly because there are so many properties on the market, many are foreclosures and the pool of ready and willing buyers is small, there are just not enough
buyers out there, for many different reasons, either because they feel this is not the right time to take on a monthly mortgage, or they own a home currently and feel that they can wait to buy the next larger home, or at the moment they cannot get the loan etc. etc.

So Selling on your own seems to be even more difficult in these times, now more than ever do you need a
Realtor to promote your property, especially promoting it to their Realtor colleagues, as you may not know but most properties are sold to a buyer who has been introduced to the property by his or her Realtor....
And just a little information for you: Realtors are highly trained professionals who are independent contractors, i.e. they do not have a salary, their expenses come out of their pockets and the commission that a potential seller pays based on the listing agreement with the brokerage company is split in 4......
in most cases
The agent / brokerage company you sign the listing agreement with and who markets and advertises your listings gets usually half of the commission split at some percentage rate between the Realtor and his
brokerage company, the other most of the times half is then split between the Realtor who brings the buyer and his or her brokerage company......

After each party of 4 has paid their expenses (ads in the paper, gasoline, open houses, printings, e-mail flyers, photos, virtual tours, phone bills etc. etc. and all of them are costly!!! to promote your property) they will have to pay also taxes on the commission received ---- and taking into consideration that they all - especially in this market
often work for months until a property goes under contract and then another often 2 months until the property closes with daily work throughout the process with inspectors, lenders etc. etc. the amount net to each of the 4 parties (Listing Agent - Brokerage Co. and Buyers Agent + Brokerage Co.) especially distributed per hour of work and time spent is rather small...... This may just put it a little bit in perspective for you!

If as you say you not need to sell but would like to, this may not be the time for you and you may be better off
to wait some time, watch the market and listen to the recommendations of an experienced area Realtor you trust....

And remember some properties because of their condition, location, upgrades etc. sell easier than others and only a Realtor who knows the area and has seen many properties can make recommendations he or she will also be able to tell you how many similar properties are currently on the market which would then compete with yours, and how many similar properties have recently sold, which will then indicate to you how much inventory is on the market and how long it may take for you to get your property under contract.

Hope this all helps you make your decision.
Good Luck!
Edith
edithsellshomes@gmail.com

Nicole,

When the market was hot, anyone could sell a home FSBO by putting a sign out front. The current market has drastically changed this marketing approach.

Homes need to be priced in step with the current real estate market trends and require an aggressive marketing plan to meet with success.

It is not a place for the "faint of heart...." Our best advise is if you don't need to sell........DON'T

Good luck

"Good luck. One more thing. The only people that should be selling in this market are those that need to sell. If I interviewed you, I would turn down the listing if i heard you say "I don't need to sell"...because many people do."
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Keith,
While you and I have some differences, that is one of the best paragraphs that I have read on this site for a while. Except for mine of course. :)

Ms Hagley,

I just felt the need to respond here.

"you can absolutely sell you home on your own...but if an agent represents the buyer, they will still want a commission. If you do not offer a commission, they may not show your home."
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No surprise there. However, there is always a chance for an unrepresented buyer.
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"Also expect low offers from folks who will expect a deal or a discount since you are selling the home on your own."
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Great!!! Appreciate any offer, and just consider it a starting point. In your situation Nicole, no one has a gun to your head to sell.
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"Also....who will handle the contract and disclosures? You'll still incur those fees for the title company, which I assume is what the $6000 was for. Add that to the $200/hour you'll pay to have an attorney ride shotgun over your contracts."
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My buyer and I sat down in the family room and went over the disclosure forms which were quite simple. I made a couple of additions. We made a draft of the contract that we agreed on which I took to a RE attorney who charged $500 for writing it all up. I took copies to the title company and the buyer took his to his lender. The buyer ordered the inspection and the lender the appraisal. It all went smooth as silk. At the closing the loan officer came over and shook my hand and congratulated me. His statement was"This is how easy things should be. Agents sometime seem to complicate matters to justify their worth." BTW, our closing cost participation was nowhere near $6000 dollars on a $218,000 sale. We did not agree to pay the buyer's loan points. The $6000 shortfall, I think was a reference to Nicole's net vs the amount left on the mortgage after paying the agent's commission.
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"You stand to lose even more without an agent."
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Prove it, or should I just assume you forgot the word "possibly." In any case, in separate studies by Northwestern University and Stanford University, “by owner” sellers were found to be as effective as agents in maximizing the sales price of their homes. After commissions are factored into the equation, the studies reported, sellers who sell “by owner” actually save more money, and retain more equity, than sellers who sell through agents. The September 08 issue of Consumer Reports magazine also reported that FSBO sellers are more likely to get their asking price while agents deliver, on average, a sales price that is $5,000 less than the original asking price.

NIcole
You said it yourself. I do not need to sell.

The pain for bringing money to the closing table must outweigh your pride. To put it another way, if you don't need to sell, they sell it yourself. 90% of owners like you eventually list with a Realtor (NAR survey), 10% can sell on their own. However, that is based on a 2006 survey. The economy has changed, so the markets have changed.

Let's look at the stats (see link). The Average Price Per SF has only dropped 23%. So you are probably looking at a short sale if you do sell.
Remember, it is possible for a buyer to pay more than market. However it is doubtful that they are going to be able to obtain financing because the property will not appraise.

Your other issue is that you have no case for hardship, so the only way it will sell is if you bring money to the closing. And, BTW, you are not paying $6,000 towards the commission. You are paying for the privilege of selling in a buyers market.

Good luck. One more thing. The only people that should be selling in this market are those that need to sell. If I interviewed you, I would turn down the listing if i heard you say "I don't need to sell"...because many people do.

you can absolutely sell you home on your own...but if an agent represents the buyer, they will still want a commission. If you do not offer a commission, they may not show your home.

Also expect low offers from folks who will expect a deal or a discount since you are selling the home on your own.

Also....who will handle the contract and disclosures? You'll still incur those fees for the title company, which I assume is what the $6000 was for. Add that to the $200/hour you'll pay to have an attorney ride shotgun over your contracts.

You stand to lose even more without an agent.

Be that as you may, FSBO.com is the best resource out there for do it your selfers. Good luck!

Nicole,

Forget the negativity. Start thinking positive. Get a cup of hot chocolate and read the blog attached to the link below thoroughly. I bet you can't finish it without falling to sleep. if you do, then you are serious about selling. Good luck.

http://www.trulia.com/blog/rockinblu/2008/08/thinking_about_…

I also was just recently denied in my appeal to have my taxes reassessed. I don't understand that at all.