Don't sell it yourself! Sometimes a "FSBO," or house "for sale by owner" can sell as fast, and for as much as it would have if listed with a real estate agent. Sometimes. Before you decide to give it a try though, consider the following ten points.
I do not know if I agree. If someone wants to sell their home FSBO they will not have as many resources available to sell their home such as MLS listing, but if they put a FSBO sign out and a FSBO classified add they will most likely sell it just as fast as with an agent. But, they won't have to pay the RE agent. I say this because everone is trying to get into real estate. EVERYONE!!! When someone see FSBO they check it out. Especially people who may not have the best credit, because they want to see if the owner will finance the property for them. If anyone does come across a potential buyer with bad credit or stated income, our investors will acquire the property for the potentail buyer, place it into an intervivos trust in the buyers name. All they need is 10% down and 3 references and the house is theirs. Technically it is the trusts, but once the home is paid off the trust is released and the home is owned by the buyer. If anyone has clients who cannot get traditional financing or if you want to buy a home but cannot get traditional financing just go to www.bestnocreditrealestate.com. You can apply online and even get pre-approved which is good for 1 year.
I totally agree Investor_today. There are so many individuals who want to get into real estate. They are always looking to deal directly with sellers. True, you will not get the same advertising as the MLS, but a simple sign on your door or classified goes a long way. Also, do not forget, nor underestimate the the power of the Internet, many leads can result. All these avenues attract the interest of many, even real estate agents who may have investors they search for. We have sold most of all our properties this route and in good time, without having to pay extra commision. Especially if you wholesale, that can effect your bottom line.
I have run a for sale by owner company for 8 years in Spokane, Washington. This year my customers had roughly a 95% success rate in selling properties themselves in spite of receiving inflated value information from local real estate agents. We have all the same tools available for our customers as the agents have including: legal represenation, a top web site, professional signs, lock boxes, newspaper advertising and even an option through a local discount broker to advertise on the MLS offering a selling commission to the one agent who actually earns the commission, the one with the buyer. We have been so successful in our market that we have been reviewed in the largest local newspaper stating that our firm lists and sells roughly 20% of the single family homes in our county. There are only a couple of actual real estate brokerage with more average listings. With the tremendous success of selling by owner, we are now expanding nationally, through a network of local mortgage lenders, and having a great response.
I have bought and sold many homes and will never sell through a traditional brokerage listing.