Selling your home yourself

[1911Sooner]

Has anyone done this? How does it work? With the internet the way it is now I'm thinking of giving it a try however I have no clue what all is involved because I have always used realtors in the past. But paying $10,000 for one off the 6% makes me choke.

 

[mhphoto]

Definitely get it on Zillow and whatever other free websites (excluding craigslist&#8230. I'd say if you're going to get people interested in a for sale by owner, it'll be through Zillow. I think you also might be able to get an MLS number for a fee so it'll be in the big system while still being a for sale by owner. Not 100% sure though.

 

[angsniper]

I have bought and sold one on my own. It's easy. You can order every form you need for ~$15.

 

[peanut]

If you have a buyer, some realtors may do the transaction for 1-2%. That is still too much money for just handling the closing paperwork in my opinion.
Talk to the title/escrow company that is in your area, sometimes they can walk you through it.
Also, some real estate attorneys can do the sale for $500-$1000, maybe more nowdays.

 

[soonersfan]

I sold my last house. I think the site I used was forsalebyowner.com. I saved over $20,000 in commissions.. Whoever I used came out and took pictures, listed the house on all the major house hunting websites and put a sign in the yard for $300. There is no way they were making money but by having their sign in the yard they hope to become a buyers agent for other people. You can find all the real estate documents you need at the Oklahoma Real Estate Commission website. Buyers are far more diligent and educated now due to the internet. I have nothing against real estate agents and believe they are invaluable to many people but 6% is definitely outdated and too high.

 

[Perplexed]

I agree with the above sentiments. If you're not averse to doing a bit of paper and leg work, and employ your people skills, it's quite doable to sell your home yourself. As soonersfan said, a 6% commission is outdated today - for many people. There are still folks who don't want to have to do anything but keep the house clean, and not have to deal with the buyers except at closing - or who simply don't have the time to do it themselves. Aside of that, the commission should be negotiable, and in fact, it is; my dad once put a house up for sale in an area where they were selling like hotcakes, and he told the agent he'd give her 2% because he knew she'd only have to make one or two phone calls to sell the place. She didn't argue, and the house was sold within 48 hours.

Now if you're asking an unrealistically high price for your home, or it's in a bad area, etc. - then an agent might be useful to get the place sold.

 

[CODE_3]

Good Luck!

 

[bootsbaker]

6% is outdated?! most realtors have to do co brokering we rarely get a full 6% usually its just 3% because we have to split it with another realtor on top of splitting it with the companies we work for. Realtors do not just fill out some paperwork, Theres alot more to it than that! I spend THOUSANDS of dollars on marketing and my gasoline bill each month is topping $500 dollars driving around showing homes, etc. Sorry but I take offense! I work my ass off every day, I RARELY get a day off, I have people calling me on thanksgiving and christmas (btw rude!) I constantly have to put myself at risk by showing homes to people I do not know. But I stick a smile on my face and go to work because its either feast or famine.

all that being said, yes you can sell your house yourself and save money so go for it :-) Just please don't trash realtors commission only pay.

 

[SDarkRage]

I sold my house myself back in April to my neighbor. We did it all ourselves. The bank and title company told us everything we needed and it was a piece of cake. But, the kicker is, I had a ready buyer and everything was amicable between us. No negotiations with strangers, no advertising, no waiting. If my neighbor wasn't going to buy it, I would have ended up using a realtor. In Oklahoma, as a seller, all that's required is a bill of sale. We wrote ours out in front of the mortgage lady at the bank on the back of a bank statement. That's all I was required to do basically. Everything else the bank and title company handled.

 

[CODE_3]

6% is outdated?! most realtors have to do co brokering we rarely get a full 6% usually its just 3% because we have to split it with another realtor on top of splitting it with the companies we work for. Realtors do not just fill out some paperwork, Theres alot more to it than that! I spend THOUSANDS of dollars on marketing and my gasoline bill each month is topping $500 dollars driving around showing homes, etc. Sorry but I take offense! I work my ass off every day, I RARELY get a day off, I have people calling me on thanksgiving and christmas (btw rude!) I constantly have to put myself at risk by showing homes to people I do not know. But I stick a smile on my face and go to work because its either feast or famine.

all that being said, yes you can sell your house yourself and save money so go for it :-) Just please don't trash realtors commission only pay.

Very well said. Also all agent's get paid 10-99 so after we buy/sell a property for a client then we have to split that 3% with our company. After that we have to pay taxes on the rest at the end of the year. Plus there are monthly and yearly dues we must pay in order to maintain our license.