If an owner of a property in Houston TX already knows that one of his neighbors wants to buy his townhouse,

Asked by Zelda Kohn, Pleasanton, CA Sun Aug 19, 2012

how would you advise him to proceed: hire a real estate agent to work the deal through and get transaction or...?

In MA, where I practice, I would undoubtedly recommend to hire a real estate agent. I wonder what will experienced TX agents advice in such case?

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Stacey Christman’s answer
Stacey Chris…, Agent, Houston, TX
Wed Aug 22, 2012
In Texas, both a real estate agent/broker or an Attorney can tend to the details of a real estate transaction. A Real Estate professional may be more knowledgeable regarding the specific market, but an attorney may charge a flat rate instead of a percentage of the sales price. If the neighbors have worked out a price, they may not need a real estate agent/broker, but if they're still trying to negotiate the price, its not a bad idea to talk to someone knowledgeable in their neighborhood.

I hope I've helped!

Stacey Bullock Christman
Scott O'Connell Properties
2927 Ferndale
Houston, TX 77098
0 votes
Mark McNitt, Agent, Houston, TX
Mon Aug 20, 2012

Having a Realtor represent you in buying/selling is always a great idea. Helping you prepare to sell a home, advising on paperwork/disclosure, dealing with inspections, financing and more. We can discuss agency rules (who represents who?) and how it effects the seller.

However, the biggest reason is the Realtor might be able to get a higher price. A "neighbor" might have more knowledge of the market than the home owner and might not be offering a fair price. As an agent, I could advise the sellers if this offer is fair, or possible get a better offer by putting the home on the open market. We discuss closing cost and which way works best for the seller in all cases.

The National Association of Realtors report 90% of "for sale by owners" end up working with a Reatlor to sell their home. Might as well call a Realtor and save time and money!

Mark McNitt
m 832-567-4357
Bernstein Realty
0 votes
Guy Gimenez, Agent, Manchaca, TX
Sun Aug 19, 2012
I would advise the seller to hire an agent to complete the necessary contract forms only and then proceed with an attorney to complete the transaction as their would be a cost savings this way.
0 votes
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