"I'm no expert but I'm not paying a full commission when I can pay a discount broker a low flat fee and then pay only the selling agent's side of the commission. I negotiate for a living. Surely I can negotiate something as easy as a home sale."
Yeah, right! And because every real estate agent also negotiates for a living they should be able to do your job too? But seriously, the discount broker arrangement is usually best in a strong seller's market. That of course would not be the current market.
Another name for this is selling by owner or FSBO. A discount brokerage may assign an agent to represent you but you really do get what you pay for and this means you do all of the heavy lifting. Expect minimal agent involvement and expect to pay for most of your own advertising.
FSBO's choose this option to get their property on the M.L.S. with the hope that a buyer's agent will bring them an offer. The seller then pays only one side of the commission. Ideally, the seller hopes they will find a buyer themselves and pay no commission.
Remember, however, that not every seller has the proper temperament to be a FSBO. You know who you are! It's not easy to be objective when it comes to marketing and selling your own home, especially when a buyer criticizes your house or your decor.
You need to be able to talk to a prospective buyer and to not say too much. You need the ability to make a buyer feel comfortable and not feel pressured. Can you handle contract negotiations and will you be able to hold a deal together after a tough home inspection? If you do go the FSBO route, and you do not land a buyer within a few weeks, you should definitely consider hiring a real estate agent. And for heaven's sake don't wait to list until the Spring market ... around the time that the tax credit expires!
2010 Mark L. Ostrovsky All Rights Reserved
FIND A HOME: http://markostrovsky.com/
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