Selling house without a Selling Agent?

BernieP

Resident PIA
If I may ...


Actually? For fact. If a seller is selling, "For sale by owner", and does not offer a commission to a buyer's agent, then it is up to the buyer, and the buyer's agent, to come to an agreement as to the agent's compensation to be paid by the buyer. So, if the buyer really wants the house, they, themselves, will have to pay the commission themselves to the buyers agent. Or whatever amount they settle as to a fair compensation for the agent/broker services.
True, but expect pressure from the agent. When dealing with sharks, it's sometimes best to have the bigger shark on your side.
 

BernieP

Resident PIA
The agent is always working for the agent. Wasnt that long ago that they called themselves ”sales agents” but I guess too many people associated that with “car sales” so now they are “real estate professionals” :whistle: How many colleges offer a degree program in real estate sales?
Legally, in most states, they are supposed to represent the buyer. But I hear you, the pressure from your own agent to "drop the price" can be frustrating. They want to make the most profit with the least amount of work. Can't blame them.
LOL, let's not go there, it's like a lot of professions, you have to pay the dues.
A doctorate in mathematics does not quality you to teach high school math.
 

SailorGirl

Well-Known Member
When you sell a house - is it better to have an agent? The family is thinking to just sell my parent's house as is, to one of those "we buy houses" people.
 

BernieP

Resident PIA
When you sell a house - is it better to have an agent? The family is thinking to just sell my parent's house as is, to one of those "we buy houses" people.
At that point who needs an agent, you might need a broker to close the deal but not familiar with the law in MD.
When in doubt, contact a lawyer. From what I understand they are going to make you a cash offer, which is under market.
It's a quick solution to getting rid of a property. Think of them as house flippers. They are going to pay you just enough to get the house and leave themselves room to make a nice profit. The more work it needs, the lower the offer.
 

SailorGirl

Well-Known Member
At that point who needs an agent, you might need a broker to close the deal but not familiar with the law in MD.
When in doubt, contact a lawyer. From what I understand they are going to make you a cash offer, which is under market.
It's a quick solution to getting rid of a property. Think of them as house flippers. They are going to pay you just enough to get the house and leave themselves room to make a nice profit. The more work it needs, the lower the offer.
It needs a buttload of work. I say something about how much work the house needs and my brother chimes in with yeah but it's on 7.5 acres on land people pay for the land. And I look at the land and there's trees and brush and undergrowth everywhere. Last year I cut a lot of that stuff back but it's insurmountable in my opinion especially if you're the only one doing it. I don't know why anyone would want to purchase that.
 

Scat

Well-Known Member
When you sell a house - is it better to have an agent? The family is thinking to just sell my parent's house as is, to one of those "we buy houses" people.
:jameo: Sure, if you want 25-50 cents on the dollar. You guys are in a better position than that. You can be your own agent, Sell it as is, why not? (Roof, water, heating system and septic have to be up to snuff to get a loan) hire an appraiser and put out some ads, nothing to lose.
 

Scat

Well-Known Member
It needs a buttload of work. I say something about how much work the house needs and my brother chimes in with yeah but it's on 7.5 acres on land people pay for the land. And I look at the land and there's trees and brush and undergrowth everywhere. Last year I cut a lot of that stuff back but it's insurmountable in my opinion especially if you're the only one doing it. I don't know why anyone would want to purchase that.
If its that bad, Hire someone to come in and cut it all down (bush hog, brush cutter, etc) then have them rake it out. Should cost under a grand, then you guys can start mowing it again on a more regular basis.
 

SailorGirl

Well-Known Member
:jameo: Sure, if you want 25-50 cents on the dollar. You guys are in a better position than that. You can be your own agent, Sell it as is, why not? (Roof, water, heating system and septic have to be up to snuff to get a loan) hire an appraiser and put out some ads, nothing to lose.
Sounds like a better way to go - you know once I finish with the basement, then clean it, then cut the brush down. There is a small matter of the septic system which hasn't been pumped in over 15 years despite my "nagging" that they really needed to do it. I don't even know how the house got built there in the first place. Saint Jeromes Creek is on the property - the ground in the back yard seems like it's constantly wet. One of the kids was going to be given an acre of land there to build on - it wouldn't perk. I don't know how it ever perked to begin with - there's a huge plot of land across the road, been for sale forever - won't perk. To be honest, if I bought it I'd tear the whole thing down and start over - only I don't know if you can even rebuild on it or not.
 
Last edited:

SailorGirl

Well-Known Member
If its that bad, Hire someone to come in and cut it all down (bush hog, brush cutter, etc) then have them rake it out. Should cost under a grand, then you guys can start mowing it again on a more regular basis.
There's enough clear space to mow - kid next door does it for $50.00 a month and he cuts it three times a month. He's a bargin and a half believe me. It's the brush that disturbs me - I can't even find the path to the goat shed anymore and there's two boats in that mess.
 

BernieP

Resident PIA
It needs a buttload of work. I say something about how much work the house needs and my brother chimes in with yeah but it's on 7.5 acres on land people pay for the land. And I look at the land and there's trees and brush and undergrowth everywhere. Last year I cut a lot of that stuff back but it's insurmountable in my opinion especially if you're the only one doing it. I don't know why anyone would want to purchase that.
It would depend on the location, what the land was zoned for and other factors - how many of those 7.5 acres can you put a house on?
If it were on the water, I'd say people would buy it for the property, tear down the old house and build a new one, if the price was right.
Nobody is going to overpay for a house on land, for just the land. They are still gong to want a discount if they plan on tearing down and building from scratch.
As I said about the houses for cash people, they are looking to flip the house, the less work, the more than can pay, but at the end of the day, their profit starts with the difference between what they pay you and what their costs are to get it sold
 

SailorGirl

Well-Known Member
It would depend on the location, what the land was zoned for and other factors - how many of those 7.5 acres can you put a house on?
If it were on the water, I'd say people would buy it for the property, tear down the old house and build a new one, if the price was right.
Nobody is going to overpay for a house on land, for just the land. They are still gong to want a discount if they plan on tearing down and building from scratch.
As I said about the houses for cash people, they are looking to flip the house, the less work, the more than can pay, but at the end of the day, their profit starts with the difference between what they pay you and what their costs are to get it sold
Yes they are, just ask my brothers; they know everything.
 
Selling without an agent with a deal semi-in-place versus selling without an agent with no deal in place are obviously two different things. No showings required, no paperwork on offers back and forth, etc. Much easier to do with even a handshake deal. If selling from the get-go with no side deals, a good agent is worth the 3 percent IMO.
 

Scat

Well-Known Member
Selling without an agent with a deal semi-in-place versus selling without an agent with no deal in place are obviously two different things. No showings required, no paperwork on offers back and forth, etc. Much easier to do with even a handshake deal. If selling from the get-go with no side deals, a good agent is worth the 3 percent IMO.
3 percent? Isn't the standard listing now at 7 percent?
 
Top