Making the leap to Sacramento area (for sale by owner, real estate, lawyer)

[yamarranaz]

Hello everyone..I am planning on making the leap and moving to the Sacramento area sometime real soon, but first I need to sell my house here in Arizona(Phoenix area)..I want to sell by owner..does anyone have any good advice about the whole process..I know the first thing to do is put a "For Sale by Owner" out front..what is the process once I get someone who is interested?? I am a first time seller and don't want the fee's of a realtor..
any great advice would be really appreciated

[20five]

Let me start by saying that I am not a real estate agent/realtor. I can appreciate that the fees seem high. But I think being a first time seller trying to list your house FSBO is really going to hurt your chances of selling. The first thing you are going to miss out on is the vast exposure that your house will get by using a realtor and the Multiple Listing Service (MLS.) When the average Joe goes looking for a house, he will often do it with the help of a realtor. The realtor goes to the MLS to see what's available. Even the tech-savvy Joe will go to the MLS himself nowadays and do a search. Perhaps you can get this service without the help of a realtor, but I'm not sure.

A realtor in your area is also very aware of what houses are selling for, usually. They will know what price to ask so as not to leave any money on the table. Many realtors are also good at taking a walk through a house and pointing out minor things to fix to make a house more marketable. They may also have suggestions on slight redecorating.or yard maintenance to make the house more marketable. I know we all love our houses, but sometimes a fresh set of eyes can see things that we overlook. The last and possibly most important aspect that realtors take care of is the legal side of selling. All of the paperwork! And there is a LOT of paperwork. I know you can get a lawyer to do it too...but I think having a realtor is a big help sometimes.

Now...that's my two cents. I think a seasoned investor can often do without a realtor because they know what they're doing usually. I also know that many realtors are too new to the business or too lazy to know what to do. You need to shop for a good realtor. Find one who will work for you. And do not be afraid to try to negotiate their listing fee. Many realtors will be willing to drop the fee by a half a percent or more. I hope this helps.

Good luck to you. There is many similarities between Sac and Phoenix (bad air, hot summers, mostly flat to name a few!)

[sigep739]

I am a real estate agent (although it isnt my primary profession). In my opinion, I think this market more or less requires an agent. You can negotiate the commissions - I dont know what the norm is in AZ - but in CA it is 6% (split between two agents most of the time). Offer 5 instead. That is almost becoming the norm these days anyway. For a $200,000, you're looking at $10,000...

It makes more sense to have one if you get into a negotiating situation where the buyer wants repairs, etc.

I definitely recommend getting one - but to each is their own!

[yamarranaz]

Thankyou soooo much..what great advice!!!