[deefromlv]

Hi all,

I am moving soon and would prefer not to hang on to my house as it is doubtful I will live full time in Vegas again. Bought in 2009, good price, single story 3 car garage with pool in Henderson outside of anthem area. Met with a realtor who thinks she could sell it for a decent price based on comps. Didn't sign any paperwork committing to her. She'll be getting a $20k commission though if she sells it.

My question is, how hard is it to sell your own house? I've seen those companies where you can pay a flat fee for a lockbox and MLS listing. I'd be willing to offer a flat fee for a buyers agent. I had one friend who works for a title co say he sees a lot of cash sales with no agent involved.

What do you all think. I know there are some real estate gurus on this site.

Thanks

[von949]

20K commission?

I think I need to get in on this real estate thing.

[Packrat1]

Try more like 6% split with listing and selling agent. I have heard of one Henderson Realtor who charges 7%. Beware of Realtors who "appraise" your home at a very appealing price then lock you into a contract then lowers the price of the home significantly when it won't sell for the inflated price they first told you it was worth. On the other hand consider finding a buyer yourself via word of mouth, friends, neighbors, etc., then have a Realtor write up a contract and have split 1% between the two of you. Just did that on two houses. Requires flexibility by all parties.

[ScoopLV]

Originally Posted by deefromlv

What do you all think.

These are my favorite kind of sales. Easy on everyone. Anthem isn't my area, otherwise I'd DM you and buy it. If you can find the right kind of buyer, you can make this work. But it's up to you to find the buyer -- that's what you're getting for your $20K in commissions. Price the house properly, and it will sell itself. The trick is knowing how to price the house properly. You don't want it to languish on the MLS. And you don't want to leave too much money on the table.

[jjameson922]

First question, do you know how to properly comp your house yourself? Do you know how to advertise, show, negotiate and take your house to closing? And the suggestion of paying a realtor 1%, floored me. I cannot imagine a competent person wanting to be involved in something like that. On the other hand, you will need an attorney to take the house to closing. That is something that would be provided in the commission from the realtor which, if you are not using one, you will have to pay yourself. He/she then can help you with the sale offer, look out for your interests and prepare the deed. I'm sure the cost would be less than 1%.

Also keep in mind, when a buyer is looking at a FSBO (for sale by owner house) they always automatically deduct the real estate commission you will not be paying from the amount they plan to offer to you. I myself would never pay more than a 5% commission; 2.5 to the selling agent and 2.5 for the co-broke.

[lvoc]

If you are really talking above $500K get an agent. No action up there FSBO. FSBO has dropped substantially over the last years down to about 9% from 13%.

I don't think it ever worked very well up in the higher price range. Most FSBO here is below 200K.

Note that you pay 3% to the buyers agent or it becomes practically impossible to sell an expensive home. Even going to 2.5% will cut the showings in half. I personally ignore those sorts of commission reductions though I will have a discussion with my buyer if I find something that sounds interesting at 2% or below. It is possible to get a reasonable agent for 2.5% on the seller side. Note though some of the really good people won't touch it particularly at that high a price. While the public may believe the costs of selling expensive houses are the same as cheap ones the agents know it is not true. It is much harder and takes a lot longer to move a home above $500K than one at $150K. Likely 10x as long.

[cowherjaw]

Originally Posted by deefromlv

Hi all,

I am moving soon and would prefer not to hang on to my house as it is doubtful I will live full time in Vegas again. Bought in 2009, good price, single story 3 car garage with pool in Henderson outside of anthem area. Met with a realtor who thinks she could sell it for a decent price based on comps. Didn't sign any paperwork committing to her. She'll be getting a $20k commission though if she sells it.

My question is, how hard is it to sell your own house? I've seen those companies where you can pay a flat fee for a lockbox and MLS listing. I'd be willing to offer a flat fee for a buyers agent. I had one friend who works for a title co say he sees a lot of cash sales with no agent involved.

What do you all think. I know there are some real estate gurus on this site.

Thanks

Can you give approximate cross streets? I am in the market and want to know how deep into Anthem this place is. I really like the places out there but I also like being closer to civilization.

[Ohky0815]

There are people who do for sale by owner. Im not sure how they do it exactly and make it sell.

We are buying our house from a family member.

[lvoc]

Originally Posted by Ohky0815

There are people who do for sale by owner. Im not sure how they do it exactly and make it sell.

We are buying our house from a family member.

Family deals are the best around. But note they have some significant down side. Like the pricing. There can be an amazing amount of long term trouble if that is not all done just right.

[Ohky0815]

Originally Posted by lvoc

Family deals are the best around. But note they have some significant down side. Like the pricing. There can be an amazing amount of long term trouble if that is not all done just right.

Pricing so far seems fine on my specific case but we have a lawyer handling it all.