The primary motivation for selling without a Realtor is to "save" the commisison fees. That savings will be quicly eroded if you sell for a lower price than you would with the representation of a Realtor. You also run the risk that you may erode your net proceeds with mistakes or oversights in negotiations, inspections, etc.
You might find that you actually come out ahead by hiring a Realtor.
I suggest that you meet with a few Realtors and let them know upfront that you are considering selling on your own. Ask them to explain to you the benefits they bring to the table.
After gathering information, decide if you believe that you want to undertake the task on your own or not. Also, you can always try it on your own for a few weeks. The risk in this approach is that if you did get a contract, you wouldn't know if it represented the highest and best price your property could command.
Deborah Madey - Broker
Peninsula Realty Group, Inc.
It is possible to sell on your own. Make sure that you know the disclosures necessary for your state and it's probably a good idea to get an attorney involved.
There are many websites to post under and one of the best ways is to Google "for sale by owner" or "fsbo" and see which sites come up. Even your local CableMart might allow you to advertise the house with them for a fee (in my area that is usually less than $100 per home).
For sale by owners statistically get 16% less for their homes than properties that are listed, however, so you might want to begin interviewing agents in case you decide to go ahead and list. Remember that any buyer that comes to you will either have an agent, or want you (most likely) to reduce the price by the amount you normally would give a buyers agent.
RE/MAX Bryan-College Station
526 University Drive
College Station, TX 77840
Secondarily - the market in NJ from what I understand, most buyers sign agreements to work with agents, so you'll be dealing with an agent who is working for the buyer. That puts you at a disadvantage. Not sure your particular area is like that, but I wouldn't pit yourself against a Pro and hope to come out ahead.
Then there's the safety issue: WHO are you letting into your home? Agents are trained to ask the right questions, they know the right responses and still some of us get killed or hurt.
While your original question was "can you sell your house" to which the answer is a resounding YES, I think the real question should by 'would the benefits outweigh the risks". If you are trying to save some money, see if there is a real estate consultant in your area, at least that way you will get professional help, save some money, AND stay safe.
Your next question(s) to think about is "do you need to sell before buying?" How to coordinate the move so you don't have to move twice. . . a professional can also assist you with those stressful situations, as well as the home inspections, disclosures, etc. Sometimes the stress isn't worth trying to save the money, only you will be able to answer that question.
Depending on your financial situation, I'd recommend at least talking to a few agents and find one you like, communicate well with, and trust. I've found that most people who don't like using agents have just used the wrong ones and had a bad experience.
The good news? Aside from trying to 'agent shop' yourself, get some recommendations here from people, consumers and/or agents who won't be competing for your business.
I wish you good luck, and I hope to hear how this all turned out for you.
If you still opt not to ---- You can try http://www.zillow.com or http://www.craigslist.org for free listings - and a few brokerages in some areas will take MLS only clients for about $300-600. That said, most people will still end up listing with an agent.
You can also place paid listings on sites such as the one below. But remember, besides the MLS fees, listing fees, etc, you will have to purchase contracts or hire an attorney to draft contracts for your transaction. Signs for open houses, etc. also cost money. By the time you get done with paying all your own marketing costs and also, assign a value to your own time spent on the transaction, it might be less expensive to hire a REALTOR and very frequently, your home will be sold much quicker.
As other agents have mentioned, a Realtor can usually net you more even after paying the commission. Something they did not say is that 89% of buyers use an agent. Do you really want to keep that many buyer from your listing?
Don't let the statistics scare you. Even in todays tighter market FSBO's are still successful in selling their own homes.
You need to make sure you have a property disclosure, if you home was built before 1978 you will need a lead based paint disclosure, if you have a septic you will need a disclosure for that as well. Good Luck! Oh you will also need a copy of a purchase agreement when someone wants to actually buy the house.
If you already have a buyer, say a neighbor or a relative, then don't bother with an agent. Instead pay for a couple of appraisers and a real estate attorney representing you and the buyer having a different attorney. But if you are like most people and don't know who is going to buy your house, the commission you spend on a good agent will be worth it.
I am a realtor, who dose alot of work in Deptford Township, NJ. There are a few things involved with selling sor sale by owner. Right now, it is a little harder to do here in NJ. There are so many listings and buyers are more afraid today to buy a for sale by owner they are useing a realtor. You can list your home and let other realtor help you sell and just pay a buyers agent commistion, but by the time you pay the agent and the lawyer and advertise and everyting else involved you might as well listed with a realtor. Your home will sell much faster with a realtor. I would be happy to help you in any way. If you need a realtor I will help and If you sell on your own I will give you some tips on how to help your sale. My e-mail is firstname.lastname@example.org or you can call me any time on my cell 856-832-8033
All homes are truly sold by owner. Owners are still legally required to complete all state, local, and federal disclosures.
Trulia's listings are uploaded from brokers, so if you want your property listed on Trulia, then follow the below advice and intereview three agents, asking them if their listings will be on Trulia.
The other major concern you probably have is maximizing your net profit when you sell your home.
With all of those disclosures and paperwork come the potential for negotiations. Remember, it's not the price for which your home sells, ti's how much goes into your bank account at the end of escrow. I saved one client $5,000 in one transaction, which was over one third of my comission. So selling with professional representation is not only wise, by profitable. Selling without representation would be like going to court without an attorney, or meeting with the IRS without your CPA. You do "save money" up front, but what happens at the end?