Without having seen your home personally, and not knowing all the details of your specific property, I can only offer a very general answer to your questions.
If you do decide to go FSBO please keep the following in mind. A Seller with no representation often looses far more than they realize by not having someone on their side of the table. Your attorney reviewing the contract is looking for legal clarification and errors, not to determine if you are getting a good deal. They havenâ€™t even seen your house before!
Advertising/Marketing your home; how do plan to do this? In the paper? Studies and statistics show that about 85% of buyers first look online to buy. Buyers go to the Internet before picking up a telephone to call an agent or a FSBO. You really need a strong Internet showing. You are limited as a FSBO.
If you are going to pay a flat fee broker to offer your home in the MLS with a buyer agent commission of 3%, you need to look at the dollar amount that 3% Seller agent fee you are "saving." Determine how long you are going to try this on your own. How much money for website placement, ads in local papers, mailings to people and your time related to open houses, showings, time on the computer and placing ads. It really adds up quickly.
Regarding auctions, I agree with Patrick that they donâ€™t seem to be fairing too well at least not here in Mount Pleasant. The majority of people who show up to these auctions are professional investors who are looking for a â€œstealâ€.
Although you may feel price has not been the issue with your house, your home is a commodity on the open market and it is a changing market! With markets continuing to adjust, you will have to make several price corrections as the market corrects itself. The market determines the value of your home, not a realtor. Your home is worth what someone is willing to pay for it, and what you are willing to sell it for. You or your realtor's job is going to be setting that price, and that may change as time goes by.
Kim, I truly believe that your best choice would be to hire a new REALTOR, one that not only can navigate the challenges of this current market, but one who can successfully market your home online.
I hope this has been of some help to you as you decide how to proceed. If you should need any further assistance, please feel free to contact me directly.
Best of luck,
Owner / Operating Principal
Charleston Your Home