I would first ask that you take your last name off your question. I have heard of identity theft from Q / A sites, please be careful.
As for your question, please keep in mind that a great agent is worth the money you spend. Statistics show that a lsiting with a discount broker is 70% more likely to expire unsold than a full service company.
Recent information shows the college housing market as one of the most stable real estate investments today. If you do not absolutely need to sell, wait. If you need a good property management company, we would be glad to recommend one to you.
Mark & Kari Shea
Shea Real Estate & Investment Group
How critical is your situation? How soon do you need your situation rectified? Obviously if you need this done soon then your best bet will be leasing, selling the property in this market will take longer. As for commisions the less you pay the lower the service which means less exposure and marketability hence the longer it'll take you to sell. You can also try to sell it yourself are you familiar with FSBO? Another option to consider also is a lease-to-own. Since its just one property you don't really need a management company, if you so desire you can look into emanagement options as well. This is a web based program that allows you to manage your own property online. Let me know if this eased your headache a little bit.
Century 21 All real Estate
I am a real estate broker and attorney. I do listings and represent buyers on a discounted basis and am just committed to getting my clients the best deal possible in a tough market. Please call me if you would like more information.
Todd Atkins Real Estate
My first question is where exactly are you located?
There are many different discount brokers that you could consider using. If you are in the San Diego area, The company I am associated with PineappleHut is a choice driven real estate broker. Basically, in addition to Full Service, we offer an A-La-Carte menu of options for a seller. You can have us do as little or as much of the work to sell your home as you choose and only pay for the services you require. For example, we could do as little as just list the property in the MLS. We can do the contracts and negotiation to protect you, we can do open housed or screen prospective buyers and many other choices as well. It all comes down to how much work you are willing to do to save money. You can go to our website http://www.pineapplehut.com for more info.
In todayâ€™s market it is all about conserving equity. We give you the tools to do that. It is a lot of work to sell a home, typically more than most non real estate professional realize. However that does not mean that you can not do many of the things that we do in a sale and save a lot of money.
Of course, it may make more sense to rent you home and Keith has some good suggestions regarding renting.
Sales commissions are not set and are negotiable. If you must sell in todays less than ideal real estate market I suggest you interview several real estate agents, good agents will be able to analyze your situation and help you make sound business decisions.
I offer a 5-4-3 variable sales commission that might be something that works for you as a seller, as well as offering buyers additional incentives that make homes we list more enticing and marketable to buyers.
An alternative solution if the numbers work is to remain using the property as a rental until the market becomes for favorable for selling. We offer property management services at very reasonable rate that might relieve some of the pressure and angst of being a hands-on landlord.
I would be happy to discuss your particular situation with you at no obligation.
I feel your pain. I was in a similar situation.
I suggest a couple of things to consider:
1. Hire a management company and keep it as a rental
2. Talk with your CPA regarding the tax consequences. There might be more options than you think
3. Discuss a IRS Code 1031 Tax Deferred Exchange into another property. Working with a CPA that has experience with income (rental property) as well as a Realtor with same would be a first step
So far as selling without paying full commission, the bottom line is that you want to net as much as possible when you sell, right? I am unaware of any data (meaning facts or surveys) that support lower commissions net more profit.
Selling real estate is complex, competetitive, and requires excellent negotiating skills. A dog can sell a house, but to address the legal, ethical, and financial issues associated with the sale of real estate requires a professional.
I am sure that you would agree that it is important for you to know your options. Recommend that you determine your goal for how much you would like to net - a combination of sales price less fees and commissions. Once you establish your goal, then develop a strategy and marketing plan to achieve it. There is just too much information to share in this short column. Please give me a call and we can discuss your options in greater detail.
Best Regards, Woody