Question Details

joe, Home Seller in New York, NY

Why pay realtor's commission? I'm getting great bites on Craigs List.

Asked by joe, New York, NY Thu Jul 17, 2008

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I run across this kind of situation every once in a while where some believes they can do a Real Estates Agent's job better than a Real Estate Agent. First of all you are selling/or buying one of your most expensive possessions, and your going to do it without the help of someone that does it for a living. I like to ask "How many homes have you bought or sold in the last 5 year". They typical answer is 1. A good Real Estate Agent does 1 a month. So how can you possibly know more than a good real estate agent. When it comes to consulting a seller on getting a house ready for sale, marketing the house (trust me it's more than putting a listing on MLS or Craigs List), negioting an offer, insuring the buyer is qualified, working through the contingencies, and getting everyone to the closing table on time. If you think selling a home is just a matter of listing it on Craigs List you're missing a lot of buyers and real estate agents that should be bringing buyers to your house. My suggestion to you is to invite some Realtors to give you a listing presentation complete with an outline of a marketing plan. Then compare what you are doing to what they can do.
3 votes Thank Flag Link Thu Jul 17, 2008
That's great! What kind of offers are you getting?
3 votes Thank Flag Link Thu Jul 17, 2008
Joe, what is a "bite"? Then, perhaps we can help.
Web Reference:
2 votes Thank Flag Link Thu Jul 17, 2008
Knowing what I know, I wouldn't recommend it. Especially if this is the first property you're attempting to sell. If this is at least your third and you were very involved in the process, have a great attorney and title company, plus can devote quite a bit of time and energy throughout the process, you can make it through okay. Good Luck. Keep us posted.
1 vote Thank Flag Link Thu Jul 17, 2008
your will get resources that can help you sell your property that may be difficult for you as a seller to access, if you are a buyer you will get the sevices of a realtor that is on top of the situation in the area you are looking for. A lot of sellers and buyers try it on there own and this is fine if they get results, but the corrent complexities in selling or buying property are better off left to someone such as a realtor/broker who knows the market and its requirements.
1 vote Thank Flag Link Thu Jul 17, 2008
Joe, I live in NY. I wasn't trying to be flip in my response. The problem that I have with the question is that it doesn't offer any compelling reason NOT to use a Realtor. "Great bites" equate to nothing- believe me, as real estate agents, we KNOW that.
When you sell the house, offer people the reasons for the success (agent or not) and the "how to's".
Some people do really well on their own- the curiousity of potential sellers can benefit from the perspective of a successful for-sale-by-owner experience. I might even steal some of your ideas.
Web Reference:
0 votes Thank Flag Link Sat Jul 19, 2008
Getting your home noticed and people interested is one thing, but there is a lot more to a successful real estate transaction than having people come to see the home. Before you enter into an agreement of sale you want to be sure that the buyer is legitimate and qualifed. Once the agreement is signed there are many details to coordinate and dates that must be met. A realtor is knowledgeable and experienced in making certain all of the details properly addressed.

The other aspect is that there are a lot of other vehicles for marketing your home, some of which are only available through a realtor. Unless your local market is robust and homes are selling at a brisk pace, you will likely benefit from a realtor's marketing experience and capabilities.

A realtor also has access to market information that is comprehensive and reliable that can help to assure that your home is properly positioned in the market. An overpriced home may get inquires, but you need a ready, willing and able buyer with an offer to actually sell your home. If the home is not priced correctly, it will either sell quickly for less than the market value, or it will stay on the market for a long time and finally may sell for less than it would have if priced correctly in the beginning. That is where a experience realtor brings value to the transaction.

Good luck with selling your home, regardless or whether you do it by owner or through a realtor.
0 votes Thank Flag Link Sat Jul 19, 2008

If you can do it, then do it. Most people hire a lawyer when they get in a lawsuit, most people hire a mechanic when their car breaks down, most people hire a doctor when they are sick, most peple hire an accountant to do their taxes....AND most people hire a realtor when they are buying or selling, Thier service is really a true value wiether you want to believe it or not. If you think you can sell it on craigs list and save some bucks, every realtor on Trulia wuld say go for it!! Unfourntuately it's a complicated process...... They will represent you and get it done easier, trust me! And I dont know one damn realtor on here! No ties, I'm a loan officer

Brent Bester
Mortgage Professional
0 votes Thank Flag Link Thu Jul 17, 2008
Unfortunately, getting hits on Craigslist does not equate to a sale.

If so, I would have sold many all my properties thousands of times over.

My commission is earned for doing and knowing much more than Craiglists. Craigslist is only a very tiny, little part of what I do for my clients..

Best luck!
0 votes Thank Flag Link Thu Jul 17, 2008
Sylvia Barry,…, Real Estate Pro in Marin, CA
I read your posted questions. It's okay to tell people that they don't need professional representation.
I am curious though. When you buy a property, do you use a Realtor?
0 votes Thank Flag Link Thu Jul 17, 2008
Keith Sorem, Real Estate Pro in Glendale, CA
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