Anyone tried to sell their home on their own?

[fullhouse]

You can negotiate commision rates. Here 6% is standard, but for higher priced listings you can go 6% for the first 100-200k than 3% over that.

 

[Julie08]

I have purchased 2 homes privately and sold 2 privately in the last 8 or so years. Most recently was 2 years ago. It does take more time the using a Realtor typically we start advertising in early spring and end up selling late in the year. We also got closer to our asking price then we ever do using an agent. (We have bought and sold probably 10 houses in the last 10 years. The commission amount is way to high even if you negotiate. Last time we used a realtor to sell we negotiated a 5.75% commission but even thats a lot. What buyers need to understand and be told when they are interested in a private sale transaction is that most lawyers (Everyone I have dealt with) will prepare the offer and check out counter offers for no additional fees over closing cost fees so the buyer doesn't have to do it alone, they just use their lawyer in place of an agent.

Real estate companies here do not prescreen people they let anyone that wants to see your house look at it I mean really would an agent trying to sell a house say sorry you are to poor to look at this house?? That's not likely. Most of the time they hold open houses. You are more likely to protect your property then an agent!

 

[speckledhen]

As a realtor, I did ask people to get prequalified before I took them all over the planet in my car, however, even axe murderers can have decent credit. Once a guy became insulted and wanted me to take his word for it then became irate and walked out, to which I said good riddance. Nowadays, a realtor cannot afford to drive them all over if there's no way they can buy a house. If someone wants a tour guide, let them hire one who isn't paying all her own expenses out of pocket BEFORE she gets paid.
No commission is standard; it's a federal law. They are negotiable, but that depends on the company the realtor's license is with. I was not allowed to negotiate mine down even 1% unless they committed to sell then buy with me as well. I dont like the 7% either, but the exposure to the multiple listing service can be invaluable, especially in today's market where people are not that willing to just drive down every street looking for houses for sale.
With the internet, you can sell your house on your own, but you need to do research and educate yourself on what is legal to do and what isn't, where to get a valid contract, etc.
I often thought about how dangerous my job was-after all, you do not do background checks on anyone. And two realtors were murdered here in the last few years inside their model home. You need to think about it, too-just who is coming into your home.

 

[Alaskan]

Quote:
All the different times I have gone to a Realtor to ask about houses for sale, THEY HAVE NEVER SCREENED ME!

 

[Alaskan]

I bought and sold my first home without an agent...

they OPs are right, the title company takes care of it all.

That first house I got lots of interest from the people who showed up at the garage sale I held. I ended up selling to a friend.

The next house I bought with a agent, and it WAS much easier, less work and less stress in the bargaining period.

 

[arlee453]

I've bought 2 houses and sold one and never used a realtor.
I guess MAYBE I got lucky, but we had great results, quick sales and no realtor hassles. I think if you tend to be a DIY sort of person, you can do quite well selling on your own. On the other hand, if you would rather just turn it all over to someone else to deal with and let them do all the leg work and negotiation, etc, then hire a realtor.

No offense to any realtors out there...but having had lots of friends who used realtors, I honestly don't see what they do that is worth the 7% commission. I had a friend recently use a realtor and she spent more hassle dealing with her realtor, home showings, impossible demands on how to 'present' her home that just made her nuts, and closing issues than we ever did on ANY part of the DIY sales and purchases.

We did everything ourselves on both the buying and the selling. We used a standard contract of sale we got at the office supply store. We negotiated DIRECTLY with the buyer/sellers and so got instant feedback, and no playing phone tag with a realtor or 'he said/she said' on the negoitations. We handled our own closings with the help of the lender - it was no big deal to call a few laywers and shop around to find a good deal on the closings, and the bank helped us on navigating all that stuff. We were smart enough to know to get a home inspection/pest inspection, etc - and frankly the LENDER requires all that stuff anyway - so that was part of the financing process, not something we needed a realtor to tell us or help us with.

If I was trying to sell or buy a house where I was moving a good distance and was somewhat a 'remote' buyer/seller then I think a realtor would be a great help. I'm sure they have their place, but I would be hesitant to use one if I was selling or buying another home.

 

[speckledhen]

I agree totally that a realtor was worth more back before the internet, but with a bit of education, I agree that you can definitely do it yourself. I enjoyed helping people find their homes and the money was secondary (what money? Most I ever made was about 23K a year). It's expensive to just hold a license and I was so over dealing with crazy, stressed out people. Some used me three or four times and I valued their trust in me, but some made me want to stick my head in the oven and turn on the gas, LOL. Anyway, read a book about selling on your own. There are several in the library system.

 

[CarriBrown]

DH and I sold our first house on our own but we had a realtor come over to look at the house first. We asked him how much he'd sell our house for (530K) and how much his commission would be (20k-25k :| ), then promptly sold it to a friend of ours!

 

[palabeco]

Quote:
All the different times I have gone to a Realtor to ask about houses for sale, THEY HAVE NEVER SCREENED ME!

Well, we were screened before the agent would take us to look at houses back 9 or 10 yrs. ago, the company was coldwell banker, we were selling and looking at the same time.

Did you actually go to look at the houses or just asked about them?

And btw; I would never hold an open house either.

 

[MayberrySaint]

Real estate commission is probably one of the biggest rip-offs of consumers today. Calculate the commission you will save by selling it yourself and see if it worth the headache to put the house on the market and handle the closing yourself. A good real estate attorney can handle everything for $500-$1000.
I have bought and sold houses in several states and never was I pre-screened. I would just be safe and schedule visits when there can be two adults in the house.