What are the steps to take when selling your house without a realtor?

Question

What are the things you need to do that you wouldn't need to do if you had a realtor? Do you think that it's just too much of a hassle to do it without a realtor or is it plenty manageable to not have one. What are the pros and cons? Thanks in advance.

Answer 1

First selling without someone to cover your backside is foolish.

Buyers can say anything and you have NO recourse. Most of the time sellers that sell themselves get a lower price then the property could bring.

If you still want to sell yourself try www.coldwellbanker.com website and under Learn you'll find many helpful hints.

Most Title companies (escrow companies, etc) can do the paperwork but only do what you tell them to do.  If you forget something it won't get done.

I'm a Real Estate agent and I won't represent my self.

Answer 2

I think when it was a seller's market and buyers were plentiful, it was probably easy to find a buyer, then pay an attorney to handle the legalities.   However, now that it is a buyer's market, your house has to have every advantage to sell.

There are alot of weathered FSBO signs in my area, telling me that these houses are not selling.  And every day I come in here, there are questions by FSBO sellers about their sale going wrong and trying to figure out what to do next.

I always tell people considering FSBO to try it for 30 - 45 days, when they get serious about selling, they call me.    

Answer 3

Well, there are a lot of things to do that you have no idea need doing.  But let me just mention a couple of things.  Do you know the selling prices of comparable homes?  Do you know how to "dress" your home to it's best advantage?  Do you know how to write up the contract?  There are contingencies to consider, building inspection, financing, sale of another property.  What about closing?  Do you know how long it takes to close a loan?  What's a reasonable amount of time to allow between presenting a contract and responding?  How about disclosures?  Do you know what you must tell potential buyers about the property?  Are you home 24 hours a day?  Anytime you're not home, your house if off the market.  Strangers will be coming to your house.  Are you prepared to let them in...what if your kids are home alone?  Advertising...is your house is a location that people will see a for sale sign?  The real estate company will advertise at their expense.  You have to pay for this.  Are you going to send out 200 postcards to potential buyers every week?  Can you get the house in the books you see outside the grocery store or on a TV show...at no cost?  Do you know anything about title companies, and what expenses seller should expect to pay?  What's the custom in your area when it comes to sellers paying closing costs?  

You may think you're saving money by not having an agent, but this is probably your biggest asset.  Don't you want this transaction handled by an expert?  You probably don't cut your own hair, and that will grow back in a few weeks.

Answer 4

you just need to be responsible for the listing (advertising) and be available to show the place. Once you get an offer you like then you go to an escrow office and open an escrow and they do the rest for you.............. pretty simple. With a realtor everyone is, technically, pre qualified to get a home loan.