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Anyone have experience selling their own home?

SilverBillet

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#1
My wife and I want to sell our own home. Basically the market is so hot right now, we want to avoid the commissions. Anyone here have that experience?
 

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#2
I put a sign in the front yard, and ad on craigslist to sell my last house. Hired a lawyer for the conveyancing, it sold quickly and smoothly.
 

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#3
My wife and I want to sell our own home. Basically the market is so hot right now, we want to avoid the commissions. Anyone here have that experience?
Sold mine private
Real Estate agents jumped all over it
Some were asking for commission
I told them this is what I want out of my house if you get more its yours
Others said if I get my clients into your house that means I ll sell their house so no worries I m getting paid still

Then my Real Estate lawyer did the rest

Market in my area is crazy
People are buying without stepping on the property
 

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#4
Get a competent Real Estate lawyer BEFORE you put up the sign !! Things can happen before, during and even after closing, so you want to make sure you have representation + did all the right things/paperwork required by local law.

You will get a crap load of calls from agents wanting to show your house, HARD PASS on this ! In most places, you owe them a commission even if the buyer comes back on their own after and buys the place. They will even try to scam you, show up with client in tow, say 'I was showing other homes to my client & they want to see yours' ploy. DO NOT let the agent in !!

May be OK to let ppl in who have a true buyers agent (in that case, the buyer is paying 100% of the commissions/broker fees). Make sure you ask the lawyer about that as some areas have true buyers agents, and in others (like in FL) it's really a sham & the seller is still on the hook.

In this market, I'd only sell cash/conventional, as-is (with right to inspect), no complex contingencies or ones that could take weeks & weeks to resolve.
 

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#5
Get a competent Real Estate lawyer BEFORE you put up the sign !! Things can happen before, during and even after closing, so you want to make sure you have representation + did all the right things/paperwork required by local law.

You will get a crap load of calls from agents wanting to show your house, HARD PASS on this ! In most places, you owe them a commission even if the buyer comes back on their own after and buys the place. They will even try to scam you, show up with client in tow, say 'I was showing other homes to my client & they want to see yours' ploy. DO NOT let the agent in !!

May be OK to let ppl in who have a true buyers agent (in that case, the buyer is paying 100% of the commissions/broker fees). Make sure you ask the lawyer about that as some areas have true buyers agents, and in others (like in FL) it's really a sham & the seller is still on the hook.

In this market, I'd only sell cash/conventional, as-is (with right to inspect), no complex contingencies or ones that could take weeks & weeks to resolve.
Interesting. Couldn't you just state in the counter offer (assuming the sent you an offer you were happy with) that the buyer pays all the commissions? If they accept, great, if not, then send them on their way.

Seems like a way to get more traffic through the door and still not pay any commissions.
 

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#6
Interesting. Couldn't you just state in the counter offer (assuming the sent you an offer you were happy with) that the buyer pays all the commissions? If they accept, great, if not, then send them on their way.

Seems like a way to get more traffic through the door and still not pay any commissions.
Depends on the state/local laws, but in most cases that would not work, especially if the buyer made a full price offer. More than likely, it would just piss everyone off & you'd have wasted your time on a sale that's not going to happen.
 

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#7
Housing market seems crazy right now! I've been looking to sell my existing house and buy another since last summer.....and I should have just bought a house then, because prices have sky rocketed since then....or at least the asking prices seems like the owners are all "swinging for the fences". And it seems like they are getting what they are asking...sometimes even more when you have a couple buyers start a bidding war.

I've looked at Zillow, Realtor.com and others. Zillow gives you history on what the last sale price was on a house.....and I've looked at many that were bought just a few years ago, and the homeowner is asking double the price or more than what they've paid for it back then...seems nuts to me....

Seems like a great time to sell, but buying is a different story...
 

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#8
I have mentioned this before and will post again the Foreign investors are now a third of the market. Read this article to see what is going on.
Foreign investors barely registered in these markets a few years ago. Now, they account for nearly a third of institutional investment in single-family rental homes, said Alex Foshay, head of international capital markets at real-estate services firm Newmark.

“There’s been very limited overseas investment into the single-family rental space prior to Covid, but nothing on this scale,” he said.

German insurer Allianz SE last month said it is investing in a venture to buy more than $4 billion of U.S. rental homes. Singapore’s sovereign-wealth fund GIC is backing plans by Quinn Residences to buy single-family rental homes across the southeastern U.S., according to people familiar with matter.

https://www.wsj.com/articles/that-suburban-home-buyer-could-be-a-foreign-government-11618306380
 

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I had a hundred agents try to get in on it, told them to F off. When you deal with a potential buyer yourself, directly, it stops the realtors bullshit and lies. Realtors lie every time they open their mouth.
 
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I have and although people may not care for realtors you do want them bringing buyers to you. So, make sure you advertise “broker protected” and pay them some sort of commission for bringing you a buyer (if their buyer buys). Find a local title company (depending on state) who has a FSBO package with all the docs you need. They want your business too and will help you when possible. Good luck!!
 
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SilverBillet

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Thread Starter #11
I have and although people may not care for realtors you do want them bringing buyers to you. So, make sure you advertise “broker protected” and pay them some sort of commission for bringing you a buyer (if their buyer buys). Find a local title company (depending on state) who has a FSBO package with all the docs you need. They want your business too and will help you when possible. Good luck!!
Thank you for that. Looks like we are going to go through a realtor friend of a friend rather than “Sale by Owner”. Decision made based on a discount and will be based on the buyer covering their own fees. I think a realtor can handle the listing better, the showings and negotiations to maximize our sale price. Plus we have a lot of other things to handle right now so it will take a lot of pressure off of us. I’m pretty sure it will pay dividends when everything is said and done.
 

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I'll let you know how it goes. We are in the process now.

I was out walking Butch a month ago and ran into a neighbor we know from Crossfit. Asked him out of the blue (salesman at heart) if he wanted to buy a house? He said how'd you know we were looking?

In this market there is ZERO need for a realtor and you'd be paying 6% (or whatever) for nothing.
 
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SilverBillet

SilverBillet

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Thread Starter #13
We expect multiple offers and inquiries from numerous realtors and decided it would be better for us to let someone with experience to handle it. We also believe they will make a better listing and get more than we would and the extra cost will pay for itself.
 

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