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Old 11-09-2013, 08:36 PM
 
20 posts, read 15,770 times
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We are a so very close to selling our house all without a seller's agent. I acted confidently and had all the necessary disclosures (Maryland) upfront and pre-arraigned a title company to write the contract. I don't know if our case was an anomaly and want to hear other's stories of trying to go-it alone selling their house. It is not for the faint of heart and it has taken a lot of time doing marketing, direct calling Realtors, having showings and juggling offers. The nice things have been having control over when to call agents, following up on what they liked and if they were going to offer, planning the strategy for how much to divulge about competing offers, and having a direct hand in negotiations.

It seems like buying without an agent would be more difficult, in arraigning for financing, home comparisons, MLS access, but having sold without an agent it definitely gives me courage to possible try buying in the future.

What have others experienced?
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Old 11-09-2013, 08:42 PM
 
3,325 posts, read 3,262,707 times
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We've bought and sold without an agent. The agent's job is "To bring the buyer and seller together." We used a real estate lawyer for every closing, both when we bought and when we sold. They helped us with the contract in both situations, although I think there was a standard one that we used when we were selling. As for financing, you just need a bank or a mortgage broker. Between Zillow, Trulia, and Realtor.com, you can easily figure out comps. You don't need the MLS, and you don't need the agent.
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Old 11-10-2013, 08:47 AM
 
Location: MID ATLANTIC
7,598 posts, read 17,623,584 times
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Be very clear and understand the title company's or attorney's roles, and understand, generally, you get what you pay for.......If all you want is a contract to be completed, that's what you will get. Most FSBO's go to settlement, just fine and without any issues. But when things go wrong, rarely are they a tiny, inexpensive "ooops." There's no way to cover everything preventable for a FSBO seller in a forum thread (and without violating confidentiality because the mistakes are so very unique and identifiable), but some of the most basic issues involve not understanding exactly what they are signing. Or, not understanding the different types of financing and how that impacts them as the seller, or what to say and not say, what can be mistinterpreted. Realtors and mortgage lenders continually attend classes learning to avoid mistakes and comply with various laws......chances are you will have a problem-free experience, but do make sure you have armed yourself with (up-to-date) books on FSBO sales.
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Old 11-10-2013, 12:42 PM
 
20 posts, read 15,770 times
Reputation: 24
Quote:
You don't need the MLS, and you don't need the agent.
While I agree that you don't need the MLS it almost seems to me like having a company and not spending any money on advertising. You might have the best product in the world but word of mouth is usually a slow way to sell anything.
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Old 11-12-2013, 05:57 PM
 
Location: Plano, Texas
1,676 posts, read 6,334,056 times
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Obviously, selling without an agent would be the best way to go. Saves you the 3% listing fee, but most likely the buyer will have an agent that must be compensated. If buyers agents are not compensated, why would they show your home to one of their clients.

Not sure of the statistic, but the vast majority of homes listed for sale by owner, end up being listed by a realtor. Having a realtor will most likely sell your home at a faster pace which will save you the carrying costs of the home.
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Old 11-12-2013, 07:50 PM
 
Location: Long Island
9,038 posts, read 18,360,983 times
Reputation: 4745
Quote:
Originally Posted by VictorBurek View Post
Obviously, selling without an agent would be the best way to go. Saves you the 3% listing fee, but most likely the buyer will have an agent that must be compensated. If buyers agents are not compensated, why would they show your home to one of their clients.

Not sure of the statistic, but the vast majority of homes listed for sale by owner, end up being listed by a realtor. Having a realtor will most likely sell your home at a faster pace which will save you the carrying costs of the home.
About 90% of all FSBOs end up being listed by a Realtor.
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