Home Selling in Dayton>Question Details

Dahlia, Home Buyer in Frisco, TX

Selling my house in NJ

Asked by Dahlia, Frisco, TX Mon Feb 7, 2011

I am planning to sell my townhouse in Dayton, NJ. I am debating whether to go with a realtor or not because of their commission. What I can offer is 2% or 2.5% commission max. Not sure any realtor will work on that. What are my options here? Thanks

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Hi Dahlia,

When buyers or sellers are surveyed about the reasons why they would attempt to buy or sell a home without the assistance of a Realtor®, their answers are always the same; "to save the commission."

Time and again, this is the response, regardless of market conditions or trends. This can be a decision wrought with pitfalls. For sellers, we have discussed many of the advantages to utilizing the professional services a Realtor® can offer IF YOU AREN'T EMPLOYING A REAL ESTATE PROFESSIONAL, BUYERS OFTEN ASSUME THERE'S MONEY TO BE SAVED BY THEM!

As a buyer, they generally do not pay the real estate's fee, and they can have a professional show them the best properties for sale in accordance with their wants, needs, and price range, anywhere they want to look. They don't have to use their own gas. They don't have to spend hours looking at homes they can't afford or would never buy. They don't have to waste time searching through maps trying to find streets in an unknown town.

So, why would they buy from a FSBO? Only to save money.

Now you understand their interest in your ad. With a Realtor®, they have nothing to lose.
With a FSBO they must have something to gain!

Call or Email and we can discuss in depth.

John Sacktig
Broker /Manager
Orange Key Realty
Direct: 732-213-1409
Email: JSacktig@orangekeyrealty.com
1 vote Thank Flag Link Mon Feb 7, 2011

I've been reading through many of your questions you've been asking. Obviously you are relocating to Texas so you need to sell your house. In order to sell your house there's plenty of factors to consider like pricing it right, marketing, easy to show, etc. If you list it without an agent, how are you going to advertise your house is for sale and more importantly, who's going to pay for your advertising? Who's going to make sure that everyone who knocks on your door is a credible, ready, willing and able buyer? Are you going to let just anyone in your house? Who's going to negotiate on your behalf? Do you work? If yes, who's going to filter the call you will be getting on your home? Can the home now only be shown in the evenings or weekends? These are some examples of thee value of a real estate agent.

If you owe more than or close to what your house is worth then I understand for financial reasons you want to and need to cut back but what if you don't sell it in time to move? Will you stay here? Will you rent it?

Make appointments with some agents in your area. Talk to them, ask them questions, let them run the numbers (CMA) on your house to see what its worth. Maybe you do have more equity in the home than you think or perhaps its even less than what you thought. You need to come up with a game plan and your secondary plan in the event the first one doesn't go right (the house doesn't sell, etc.). Sherman Anti-trust laws prohibits agents from discussing commissions on a public forum, or even amongst ourselves. Commissions are negotiable and are between you and your agent so as I said above, contact a few agents and take it from there but don't choose based solely on commission - without the right pricing and marketing, your house may not sell and then what?

Good luck,

Gina Chirico, Sales Associate
Lattimer Realty
973-715-1158 cell
973-575-6353 ext 17 office
0 votes Thank Flag Link Thu Feb 10, 2011
What Charan and John have written is absolutely true. And I am baffled by the sheer number of consumers who do not realize that Realtors are trained and State Licensed Professionals. The service that we provide is invaluable to a seller. Not only do we know how to properly market a home in order to maximize your "net", but when we do get an offer, or even multiple offers, we know how to negotiate for you to protect your equity.
It's just a shame that consumers are willing to pay someone else to paint their nails, but not to market their home, and protect what is probably the biggest financial investment they have. Especially in your case, where you live out of state!
I wish you the best of luck in your choice. I can tell you in absolute confidence, that unless you choose one of those "Sell it yourself" kind of Realtors, who do little more than put the house onto an MLS, you will do far better listing your home with a trained professional.
0 votes Thank Flag Link Mon Feb 7, 2011

You are deciding on what you can offer based on what you think your home can or will sell for, right? You first need to consult a local, full-time, real estate professional, to understand what your home will sell for in the current market, and how long it would take to sell it, to a qualified buyer. You must not rely on any online engines for these valuations, because those engines do not take into account local demand! Real estate professionals based out of your area, will know better, and might have a willing, able & qualified buyer waiting for your kind of house to come on the market.

As per the latest NAR (National Association Of Realtors) Profile of home sellers, 88% of sellers used an agent or broker to sell their home, up from 79% in 2001. Only 9% of houses sold were for-sale-by-owners. In addition to that, homes sold by owners directly averaged 10%-13% lesser prices than the ones sold by brokers/agents.

You might still decide to sell it yourself, but you must have a consultation with more than a couple of local real estate professionals, to see what they offer, and if it is worth paying the commission, in exchange for a better price, better guided process, and a no-stress sale. Eventually - it is the value you get for your money's worth. It is important to understand the pros and cons of using a realtor/broker vs. selling yourself.

Good Luck in either situation, and let me know if I could be of any assitance.

Charan Bajwa (Broker/Owner) RE/MAX ONE
“Always ONE Step Ahead”
Ph: (732) 438-0001
Each RE/MAX Office is Independently Owned and Operated

OUR FREE MOBILE APP: Text "ONE" to 87778
(Check all real estate in NJ. Works on all phones.)
0 votes Thank Flag Link Mon Feb 7, 2011
You should still discuss your situation with a Real Estate Agent. The agent may just be able to list your property so that you will "net" what you are looking for.
And besides there's a lot more that a Real Estate agent can assist you with....including protecting your interests contractually and bring you a qualified buyer so that you are not wasting your time.
Consulting with an agent will not cost you anything and will definitely help you sell your property.
Web Reference: http://www.321property.com
0 votes Thank Flag Link Mon Feb 7, 2011
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