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Mom-2-Liam
LIF Adult
Member since 10/06 917 total posts
Name:
Mary
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Do you recommend not using a RE agent to sell a home?
My DH is thinkig of going the "for sale by owner" route. I'm a bit nervous about this. Is there a definite pro to using a RE agent if I'm the seller?
What if my buyer wants a seller's concession? How would we work that out if we don't have a RE agent?
Any advice appreciated. Thanks.
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Posted 6/13/07 6:23 PM  |
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cjik
Welcome 2010!
Member since 2/06 8879 total posts
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Re: Do you recommend not using a RE agent to sell a home?
IMO, the main pros to using an REA are time (yours is saved) and you will probably see more foot traffic with an REA.
If DH and you have time to show your place and don't mind dealing with no-shows, you can try it yourselves, though you will also need to foot the bill for any advertising or listings on FSBO or other sites of the sort. DH and I would not go without an REA, mainly because we work longish hours in the city, and it would have been hard for us to get home to show the place to people. There are weekends, but you may not want to spend most weekend afternoons at home so your place may be seen.
Also, if you want to sell quickly, I would find a good REA.
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| Posted 6/13/07 7:59 PM |
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Re: Do you recommend not using a RE agent to sell a home?
We tried to buy a house that was listed through Foxtons, which I now consider to be like having half a broker. Sorry if anyone works for them but our experience was terrible. You need a real broker to help you close a deal sometimes. In our situation, if we had not had a broker showing us this house and then talking to the listing broker, we would not be here.
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| Posted 6/13/07 10:08 PM |
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ali120206
2 Boys
Member since 7/06 17790 total posts
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Re: Do you recommend not using a RE agent to sell a home?
The sellers concession wouldn't be a problem, the buyers mortgage lender figures that out and the lawyers guide you through the way.
We bought a FSBO and if we didn't have a good family friend who was a realtor and a very nice and patient lawyer, I don't think we would have made it to closing! There are a lot of questions that came up during the process and a lot of back and forth, it's nice to have someone there to handle that for you!
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| Posted 6/14/07 8:00 AM |
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CrankyPants
I'm cranky
Member since 7/06 18178 total posts
Name:
Mama Cranky
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Re: Do you recommend not using a RE agent to sell a home?
We are in contract with a house that was FSBO and I have to say because they didn't have someone advocating for them we got a fantastic deal. Not that we took advantage but in my opinion owners are no match for a really good REA (unless the owners are very very experienced in real estate themselves). I would never try to sell my house myself-I want someone to go to battle for me over price, inclusions, inspections, etc.
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| Posted 6/14/07 8:23 AM |
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Re: Do you recommend not using a RE agent to sell a home?
Considering how the market is now I wouldn't recommend it. We tried for 2 months and it was such a waste. We advertised on Craigslist and Newsday.com and not one bite. I see so many houses sit and that is with REA so I couldn't imagine how long it would take without it, especially if you have a time frame that you want to be out. Our house was on the market for 9 months before we got our first offer and we are finally closing on Wed. and their has been a sign on our front lawn for a year total.
Good Luck
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| Posted 6/14/07 8:26 AM |
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Gertyrae
Peace out Homies!
Member since 5/05 20046 total posts
Name:
Gerty ®
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Re: Do you recommend not using a RE agent to sell a home?
I think it depends on what you are selling and where.
My friend sold her co-op with no real estate, not even FSBO. Each weekend, she would put up an open house sign in front of her place so that people looking at other coops could stop and look at hers. She had a buyer within a month and it was a very successful and easy sale.
That being said, if you live in a development with a lot of Open Houses it might work. But you should set a time limit, like six weeks or so and if you have no nibbles go the traditional route.
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| Posted 6/14/07 8:30 AM |
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Kissy331
My two miracles!
Member since 5/06 17826 total posts
Name:
Kristen
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Re: Do you recommend not using a RE agent to sell a home?
My parents were going to do FSBO before they listed it with an agent but decided not to. With the market the way it is, they didn't want to waste time just sitting on the market. I don't think you get the same "exposure" you do with a RE agent. Also, you have to always be around to show your house & have the potential of no shows.
The agent my parents used was very good & very fast. He made sure the house was well advertised & had people in the house almost immediately. They had an accepted bid on the table 4 days after it went on the market & contracts signed not even 2 weeks after....
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| Posted 6/14/07 8:33 AM |
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cjik
Welcome 2010!
Member since 2/06 8879 total posts
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Re: Do you recommend not using a RE agent to sell a home?
Posted by Gertyrae
I think it depends on what you are selling and where.
My friend sold her co-op with no real estate, not even FSBO. Each weekend, she would put up an open house sign in front of her place so that people looking at other coops could stop and look at hers. She had a buyer within a month and it was a very successful and easy sale.
That being said, if you live in a development with a lot of Open Houses it might work. But you should set a time limit, like six weeks or so and if you have no nibbles go the traditional route.
This is very true. I think when I wrote my first reply, I was thinking about my co-op complex. There are open houses here every weekend, so you could probably sell on your own easily enough. There is a lot of foot traffic.
But yes, setting a time limit is a good idea also so you know when to start talking to REAs.
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| Posted 6/14/07 11:40 AM |
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