Selling Your Home Without A Real Estate Agent...Comfree or a Private Sale?

[mazrim]

It is currently a seller's market.  Inventory is low and many homes have multiple bids over asking $.  I would not pay over 3% commission period.  That's to the selling agent acting on YOUR behalf through closing.  Hire an independent, licensed appraiser BEFORE listing (about $350).  Home sold AS IS unless you want to spend the $$ after knowing what's what after the appraisal. Interview 3 separate agents.  Show ONLY to PRE-QUALIFIED buyers.  The buyer pays for the inspection after an accepted offer.

Yep, definitely a sellers market in most of the US at least.

Understandably it is a bit confusing at first but now having been an agent/having the license for a bit there is not really much work involved unless the other agent is not doing his job as well. Also, 80% of the agents I've worked with are shady.

Agree that this is an industry that I could very well see going by the wayside in the future.

[mazrim]

You could offer 2% but then you are still on the hook for the buyers agents 3% so you saved 1%. For that savings of one percent, 5% vs 6% you lost your agents full interest in showing your property to potential buyers before other clients who are paying the full 3%. Not worth it.

It can be negotiated. Your point is correct however overall. Not much of a point in doing that unless you plan on doing it yourself.

Sellers market you should have people knocking down your door whether it be an agent or not. However, depending on the the price you paid for the house to begin with you may just say "Whatever" and have an agent do it as the profit still may be substantial. All depends on how comfortable you feel/profit involved. From that experience you may learn enough to do it on your own next time.

[TTfit]

you could rent it out, Ive done that and got lucky with renters. Others haven't been so lucky. If you have no experience in real estate, 6% is money well spent.  

If you are in the states, and have lived in your home for 2 years, the sale of the home would be tax free. If you rent it out you can lose that benefit in time. 

I'm in Canada. I think I might try my luck at renting.

[Board_SHERIF]

you could rent it out, Ive done that and got lucky with renters. Others haven't been so lucky. If you have no experience in real estate, 6% is money well spent.  

If you are in the states, and have lived in your home for 2 years, the sale of the home would be tax free. If you rent it out you can lose that benefit in time. 

Depends where you live, most of these "agents" are human filth who know nothing - treat them accordingly, 2% on each end for 4% total. Fuck them and keep 2% in your pocket.

[Agnostic007]

Depends where you live, most of these "agents" are human filth who know nothing - treat them accordingly, 2% on each end for 4% total. Fuck them and keep 2% in your pocket.

Good luck getting a buyers agent to take less than 3

[Tapeworm]

i would try without, i've always used estate agents for sales but last property i sold was before online private advertising was really a thing. last property i rented i did independently on advertising site rather than using estate agent. saved me about £400 on what i previously paid estate agent to find a tenant for same property.

i would get a few estate agents around to help with valuation, then advertise it online. if you don't get the interest then go back to agents. for the potential saving it's worth risking the fee that online sites charge(not usually very much).

I agree you don't need an agent but don't go around kicking people's tyres like that. 

[Princess L]

I'm in Canada. I think I might try my luck at renting.

That can be a whole other PITA, but also financially a good route.  

Yep, definitely a sellers market in most of the US at least.

Understandably it is a bit confusing at first but now having been an agent/having the license for a bit there is not really much work involved unless the other agent is not doing his job as well. Also, 80% of the agents I've worked with are shady.

Agree that this is an industry that I could very well see going by the wayside in the future.

That's disappointing to hear    It's probably easier to negotiate with a broker/agent than just an agent  

Depends where you live, most of these "agents" are human filth who know nothing - treat them accordingly, 2% on each end for 4% total. Fuck them and keep 2% in your pocket.

Agreed for the most part

Good luck getting a buyers agent to take less than 3

True, and that's been my experience too, however, a good agent who truly wants the best for their client will do the right thing and it will come back to them in the long run.  Last agent I dealt with with that attitude lost out on at least $6K for not showing it to her buyers.

[Slapper]

Your low ball negotiation idea didn't work at all but still you say don't use an agent.... 

No, we low balled it with the very same agent that brokered my current home. Only difference is that at the time there wasn't a $3,000,000 home on the other side of the deal, so he was happy-uppity about getting some offer traction. I didn't know it at the time but... we were getting played into desperation mode.

Bottom line is that a buyer should always low ball a house that does not meet ALL of their demands. It's called negotiating. If you don't, you have plenty of time (30 years) to bitch and moan about the lack of this and that. 

[Marty Champions]

to avoid capital gain tax from selling (35%) u must buy another property in 40 days . wich is a very fucked law

[Agnostic007]

to avoid capital gain tax from selling (35%) u must buy another property in 40 days . wich is a very fucked law

In canada?

[SOMEPARTS]

to avoid capital gain tax from selling (35%) u must buy another property in 40 days . wich is a very fucked law

Does not apply on your primary residence if you've lived in it 2 years...on a flip, yes you will pay cap gains on the sale price minus your basis/cost in the property unless you roll the gain over into a larger purchase. People who get rich in real estate do it using tax advantages. People who work for money pay the highest taxes while people who work for assets pay the lowest.

[deadz]

The majority of Realtors should find another career. 1% of Realtors do 99% of the business. The others are just chasing a dream that won’t happen.

[Agnostic007]

Does not apply on your primary residence if you've lived in it 2 years...on a flip, yes you will pay cap gains on the sale price minus your basis/cost in the property unless you roll the gain over into a larger purchase. People who get rich in real estate do it using tax advantages. People who work for money pay the highest taxes while people who work for assets pay the lowest.

agree. My brother has been taken to court by the IRS and won. He is retired but flips houses for entertainment. He uses every legal tax opportunity and there are many when you are a corporation. That's how fortune 500 companies making billions pay less than I do annually. And the IRS has it set up that if you win against the IRS, it only applies to that specific case. There is no precedent set. Each person has to sue them individually. And they fight dirty. Should be disbanded.