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Old 11-01-2012, 07:09 AM
159 posts, read 316,579 times
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I have great photos I took myself and have no problem describing my house on the mls.

Just wondering, does it make sense to use a flat fee mls service for $400 then offer a high buyers agent commission like 3-4 percent?

Our should I just find a realtor to do the listing at 5 percent?

Just wondering if I do the flat fee route, do I need to pay more for an attorney to do whatever paperwork that a listing agent would?
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Old 11-01-2012, 09:35 AM
26,590 posts, read 57,174,024 times
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What you'll lose by doing it yourself is the ability to drive buyers to the property.

When we sold a home in NJ in 2005 at the height of the market, I didn't even list it. Put some "Open House" signs out on the main roads near by with a few more pointing the way to our place, had 30 couples come through in a single day, and had a solid offer with a 10% deposit check the next evening after a three-way bid war.

The market is very different now. Unless you've got an attractively priced home in a very desirable neighborhood, it's going to take more than putting it on the MLS to sell it. If you do decide to go that route, I'd add "Buyers Agent Protected to 2.5%" to the listing. Otherwise Realtors will steer clear.

A real estate attorney might charge an extra $100 or so to write a contract, but my experience was that the cost was the same as it would have been using an agent.

You also need to be able to remove yourself emotionally from the transaction. If you are at all attached to the home, do yourself a favor and hire an agent. If you see it as an apartment that you lived in and paid a mortgage instead of rent, you might not need an agent.

What are the selling points? If you can't come up with three reasons that many will want to buy your home, then you need an agent. Strong selling points are 1/4 mile or less walk to public transit (commuter bus or train) to NYC, moderately priced 3/2 in neighborhood with great schools, and new (under five years) roof/HVAC/etc.
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Old 11-01-2012, 10:12 PM
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Use a flat fee realtor that puts your property on the MLS. Also, find one that will do the end game negotiations, contract prep for you. For that, they'll charge 0.5%, rather than the typical 2.5 to 3.0%. You'll have to input your own photos and write your own description, but just look to other listings as a guide. One other possible recommendation. Offer the customary fee to the buying broker (2.5% to 3.0%). These are the folks who do most of the work anyway. If you skimp on that end, then you'll lose prospective clients.

In the end, price, location, and condition will sell your home, not how much you pay various brokers. But, you will definitely need to get your property on the MLS so that sites such as Realtor.com, trulia, and zillow pick up your property. Good luck!
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