Hello Deborah,

You should always hope for the best. You should also, always, plan for the best. To determine your best course of action first get a clear picture of your situation and your goals.

To get some clarity about what your home is worth, you may want to have it appraised by a licensed appraiser. If the current value of your home is less than what you owe on it then you may want to consider a "short sale" , if your lender is agreeable to that.

Once, you understand your "numbers" and what you want to accomplish you can make an informed decision about selling FSBO or with a realtor.

If you have any questions, or I can be of any assistance to you, please don't hesitate to contact me. See my website for contact info.

Be Well,
Diane

Kirsten,

Are you comparing the level of training a Realtor has with that of a doctor or lawyer? I agree that Realtors offer tremendous value. But if you think the success rate of selling your own home is equal to performing surgery on yourself, or defending one's self in court, I think you are mistaken. I am not trying to be insulting, but this comparison is used by Realtors all over this site, and I think that Realtors who use the comparison make all Realtors look ignorant by association.

its true, homes that are sold with the assistanace of an agent sell for 17% more (NATIONAL ASSOCIATION OF REALTORS) http://www.realtor.org

I think you should meet with reputable, full time, REALTORS (remember not every agent is a REALTOR) and be upfront about your needs.

You should also meet with a REPUTABLE lender that handles the area that you would like to move to, so that you know what you have going for you and what you really need on the other end to buy.

I know you say that you " cant afford to have all your proceeds go to a real estate agent" but if it doesnt sell then you may not have any proceeds to worry about ..

Also consider the potential losses by making a mistake during negotiations or by not getting full market exposure... the losses could be far more than paying a professional.

Remember you would likely be buying in a slowing market, so you might gain on your purchase by buying it at a lower price...

lots of things to consider, but get the advice of a full time, experienced professional!

A REALTOR is obligated to perform according to a code of ethics.... (not every agent/broker is a REALTOR)

Best of luck !

Deborah:

YOU are not alone! You need an agent. I would love to be interviewed to sell your home. My wife and I work together in the business!

I did not read everyones response to you but I did notice that someone mentioned the "flat fee thing."

WRONG. WE can't do that in MA.

January is a big month in the real estate world. If you are serious about making the move then you need to stat the interview process real soon!

Check out our websites and feel free to contact us at anytime.

I'm sure we can figure out something Deborah.

Thank you!
Keith Carberry http://www.CarberrySoldMyHouse.com http://www.ReNewsYouCanUse.com

Bubble boy, I guess you consider doctors and lawyers "middle men" too--why not go out and practice law or medicine yourself as well...I bet you could find a website to help you. A good realtor actually has training and knowledge and skills that the average buyer doesn't...

Deborah.... try this:

Call two or three Realtors and tell them about your situation. Ask them to help you establish a price for your home. Be up front about your intentions and let them know you need to clear $12,000.

The best way to find these Realtors is to ask friends, neighbors and relatives for advice. Many Realtors, like myself, don't look at each opportunity as a cash commission but as an opportunity to earn future business and referrals.

When I start out to help someone I explain to them that it's my intention to help them meet their goal of finding the right home. And if I participate financially in that endevour that's great. But if I don't, like when they buy a FSBO or decide to sello on their own, that's great too! Because they found that special home and met their goal.

Naturally, not everyone believes me when I first tell them that is how I operate. But once and a while I get a chance to prove it and they are amazed. As a matter of fact, I look forward to it because I make a lifetime friend and client.

About a year after I started real estate I took on a family and we spent two years looking for just the right place. I carried kids on my shoulders, got muck on my eccos and covered miles of asphalt and dirt. They ended up buying a FSBO lot and asked me for the name of a good builder. I referred them to a builder I knew woudn't work with Realtors nor pay a commission. The builder was the best available for their requirements.

They were very satisfied with their new home. I listed and sold their old home. They have referred at least two million dollars of busihness to me. Guess who they will choose to sell their home when they move?

Believe it, there are lots of Realtors just like me out there. We treat people the way we would want to be treated if our roles were reversed. Ask your friends, neighbors and coworkers, you'll find one!

Hi Deborah,

I'm going to go out on limb here and say try selling it yourself. You have strong motivation to do this and I wonder if you list with an agent, will you have regret over not trying it yourself? You can always change your mind. Before you put your house on, take the time to hire an objective opinion to stage your house. You can find all the stats and reasons on stagedhomes.com why staged homes sell faster. If you are going to list and market it yourself, you certainly want every advantage possible to make your house sell.

FSBO has upsides, the internet at your disposal with helpful sites such as Trulia and lots of FSBO sites with good advice. You will have the considerable savings of a commission. I know I work hard and want to keep as much of my money as possible so do you.

The downsides to FSBO are the amount of work you will need to do: scheduling showings, returning phone calls, marketing & advertising costs, qualifying strangers before they walk through your home, follow up, verifying permits, taxes, negotiations, inspections and closings. Truly it's a full time job.

You raise a great question here and one realtors should not be afraid to answer honestly. In the event you do choose to list with someone, you will have walked a mile in their shoes and most likely have a greater understanding of the profession.

I wish you well.

A few thoughts...none of them too pleasant.

First, if your house was appraised at $260,000 for the refinance, it likely was over-appraised. Even without falling real estate prices, a lot of people are finding out that the appraisal was stretched. Now, since prices have fallen, you're right not to be hopeful. (Given what the market's done, and knowing how some appraisals were on the generous side, you might be looking at something 15%-20% below that appraisal.) Still, your first step is to determine what the house is worth, as painful as that may be. Without knowing that, you can't intelligently make any further decisions. Usually, having several Realtors doing CMAs is sufficient. Their numbers ought to be pretty good, and it's free. You don't need to hire a professional appraiser.

Now, as to using a Realtor. OK, I'm biased 'cause I'm a Realtor. But most homeowners are unprepared for the negotiating, the paperwork, the "nursing through" the buyer in the whole process. In most cases, especially in today's market, a Realtor is worth the money. Now, Kent had a very good suggestion as to how to negotiate with a Realtor. That's worth a shot. Or try an "a la carte" service--where you pay for the services you want and need (such as getting a listing on the MLS) and not paying for those you think you don't need. Or even try FSBO. I know agents who L-O-V-E FSBOs, because usually they're unsuccessful, and they can scoop up the listing after the owner's gotten frustrated.

But, whatever you do, don't go FSBO "and hope for the best?" If you do, it's not going to happen. Have a detailed game plan laid out.

As for Bubble Boy's comments, I agree with his suggestion that the Internet has made the whole process more transparent, and that's good. Problem is, there's more to a real estate transaction than finding desirable properties in a price range. And we haven't reached the point yet where buying a house is like buying a shoe--you find one that fits that you can afford, and plunk down the money. And your issue is what to do right now.

One other thought: You say you need "at least $12,000 for a down payment and other relocation expenses." Are you sure? There are plenty of ways to buy property with zero or little down--such as a lease-option or lease-purchase. And, to be blunt, do you really have to buy a new house in Georgia? If you don't lease-option or lease-purchase, maybe just rent and build your savings back up. That may not be quite thinking outside the box, but at least it's thinking along the edges of the box.

Good luck.

You are on a site that is used primarily for Realtors to market themselves, so you will most likely not get a good reaction to FSBO questions here. Honestly, the time for Realtors to go away and be replaced by websites is about here, but that is a topic for another thread. Middlemen are so 90s, we have the internet now.

You need to find yourself an energetic, go getter broker; tell him that if he sells your house for a flat fee (less than a thousand bucks), that you will use his referral for a buyer’s broker in GA. The referral will be based on your agent in GA agreeing to pay your broker in MA a referral fee based on a percentage of his commission from the purchase of your house. A common practice in relocation. The Listing broker may require you to agree to pay his entire commission if you do not purchase a replacement property.

Deborah...
Sounds as if you are in a tough place. It is possible that your home will be worth less next year then this year which means that you are going to be upside with your debt. The answer you don't want to hear is your best choice.. if you are not moving because your are forced to move then you should stay put until the market improves.

If you are determined to move then you will probably be facing a short pay situation and will need to have an agent who is knowledgeable in that area representing your interests. Working out a short pay "short sale" with a lender is difficult at best and it is not something you should try to do yourself. Find out who is an expert in your area and contact them now to find out what you must do to get your home sold.

Your situation is not one where selling as a FSBO is a not great idea as you have almost no equity and will likely have less over time.

It is always better to use a realtor than to try to go it alone. Studies have shown that a seller usually gets a higher price ,if a realtor sells your home.( A realtor in Massachusetts is a member of the National Association of realtors.) Also, a FSBO does not have the marketing avenues that a realtor can offer. It takes aggressive marketing in this buyers market. for your home to sell.Also a realtor will make sure all prospective buyers are prequalified.There are other positives also. First, you need a market evaluation done. That will tell you what your home is worth in today's market. Then you deduct all expenses realted to the transaction and what you owe the bank. That should help you decide whether its the time for you to sell. Hope this helps. For further helpful information , please visit my web site.Good luck.

Good morning Deborah!
I understand very well your concern but I usually tell people that it is not a good idea to sell your house by yourself and especially in today's market!
The National Association of Realtors has a wonderful statistic: FSBOs get 17% less than if they sell through a real estate agent.
So, I don't believe that any agent would charge you that much!
As Mike said earlier, as an owner you are emotional about your own house and that may alter your ability to sell at the best price.
As an agent, we act like a buffer between you and the potential buyer.
Also, these days, you need to market your house even more and that is money, time and energy consuming.
Do you really want to spend your week-ends cleaning and having open houses? Do you want to answer numerous calls, wait for showings that do not show up, wait for calls that do not get returned, try to not take it personally when someone doesn't like your house.....etc....
Selling a home can be really stressful and if you are already stressed about the idea of it, don't do it! Just let someone else lift up the burden off your shoulders.
If I can be of any other help, call me!
Veronique
617-477-5079

Truly your best bet ESPECIALLY in this market is to hire an agent. I know that it is very difficult to look at the amount of money that you would be paying an agent and say that that is your best option, but when you are looking back in a year and your house hasn't sold because you haven't had the resources to market your home properly you will be really stuck. The hardest part of selling your home by yourself is a by product that not many people realize....the emotion of the process. A real estate professional is exactly that...professional. It is their job to be unemotional with every home they sell. They are hired to look out for your best interest and make you the most money possible. In selling your home yourself you will be tempted to tell someone that you are on the market for 250K for example, but will take 240K you are hurting yourself. The average FSBO will cost themselves 12-15% of the sales price. That is FAR, FAR more than any agent will charge. I hope that helps.