what else could I do with 30k?

[Anonymous]

I have a possible relocation for work happening early next year and it pains me to think how much we'll have to pay in realtor fees (again). Our house in VA is probably worth about 600k, so even with a "break" in fees at 5% (for both combined), that is still 30k for a house that hypothetically should sell pretty easily. I do see some value in working with an agent, but certainly not this much. Last time I sold a place I feel like I did more work showing it than my agent. I wish there was a better way to adjust the fees based on the amount of actual work performed.

And is a 600k house really and harder to sell than a 400k house in theory, or a 1.2M house vs an 800k house? The idea that commission is a percentage of the sales price still frustrates me to this day.

I would consider FSBO and use a lawyer for the contracts part, but it just seems so uncommon that most people don't bother looking at these listings...and then you still have the buying agent fees.

Perhaps I'm way off in my thinking, but I've been depressed thinking about this lately. Any new creative ways to sell a house these days that aren't so hard on your equity?

I'd much rather use that money on a vacation...or two or three for that matter!

[Anonymous]

I would definitely do it. We bought our current house this way (with no realtors on either side) and we are also renting our previous home 100% on our own.

How well do you know your neighbors? I would definitely get the word out locally that you are looking to sell your house. If you don't get any bites, just pay for one of those flat fee listing companies (I think its like $500?)

You'll need to pay 3% to the buyers agent. Even if you find a buyer with no agent, they'll want 3% off for not having their own agent.

Good luck!

[Anonymous]

I would love to buy a FSBO home in the VA area. I look myself and it's a hassle having to get realtors to show me homes. I do all the work myself (as a buyer) and it sucks how little realtors do.

PS In the VA area, a 600k home would sell super quick because there's NOTHING out there that's decent. Only townhomes and condos that's I've seen are that low in price. Or tear downs.

[Anonymous]

Where in va is your home?

[Anonymous]

Advertise it on Cragislist, Military By Owner, neighborhood listservs, Zillow and Trulia. You will be able to sell it quickly with no listing commission. Also, tell any buyers who want to use an agent that they can pay the agent directly. This is all extremely easy and maybe an hour to load the listings and photos on the sites. You don't even need a lawyer involved. Tell the buyer to bring the contract as well. All you have to do is sign the contract and find out where settlement is located. The buyer selects the settlement lawyer, so just show it. Enjoy your vacation with the money and effort you will save.

[Anonymous]

Anonymous wrote:I would love to buy a FSBO home in the VA area. I look myself and it's a hassle having to get realtors to show me homes. I do all the work myself (as a buyer) and it sucks how little realtors do.

PS In the VA area, a 600k home would sell super quick because there's NOTHING out there that's decent. Only townhomes and condos that's I've seen are that low in price. Or tear downs.

There is a website for FSBOs. Just go to the site and the owners will show you the houses themselves

[Anonymous]

Anonymous wrote:

Anonymous wrote:I would love to buy a FSBO home in the VA area. I look myself and it's a hassle having to get realtors to show me homes. I do all the work myself (as a buyer) and it sucks how little realtors do.

PS In the VA area, a 600k home would sell super quick because there's NOTHING out there that's decent. Only townhomes and condos that's I've seen are that low in price. Or tear downs.

There is a website for FSBOs. Just go to the site and the owners will show you the houses themselves

Yes, I do. I just wish more people used FSBO. Realtors are a huge rip off in this area. I sold FSBO for my last house and it sold in 2008 (bad market, remember?) to the first person who walked in on week one!

[Anonymous]

OP here -

Looks like I am not alone. Maybe I'll consider FSBO a little more seriously if and when the time comes in the spring. I like the idea of relying on the buyer's agent to handle the paperwork, maybe I could split their commission with the buyer

Btw, for the pp that asked, we are in Vienna. It's not new or fancy, but doesn't need to be torn down. It has a number of things going for it!

[Anonymous]

Anonymous wrote:OP here -

Looks like I am not alone. Maybe I'll consider FSBO a little more seriously if and when the time comes in the spring. I like the idea of relying on the buyer's agent to handle the paperwork, maybe I could split their commission with the buyer

Btw, for the pp that asked, we are in Vienna. It's not new or fancy, but doesn't need to be torn down. It has a number of things going for it!

You're getting bad advice here, this isn't how it works. Most agents will have you sign something that says you are paying their commission or they have a similar agreement signed with their buyer client. I'm not sure how or why you would pop in at the last minute and give half the commission you promise to an agent to a buyer, but good luck with that. I feel like you're so far out of the know that you're going to wind up in court one way or another.

[Anonymous]

Anonymous wrote:Advertise it on Cragislist, Military By Owner, neighborhood listservs, Zillow and Trulia. You will be able to sell it quickly with no listing commission. Also, tell any buyers who want to use an agent that they can pay the agent directly. This is all extremely easy and maybe an hour to load the listings and photos on the sites. You don't even need a lawyer involved. Tell the buyer to bring the contract as well. All you have to do is sign the contract and find out where settlement is located. The buyer selects the settlement lawyer, so just show it. Enjoy your vacation with the money and effort you will save.

I'm not the OP but would feel very uncomfortable signing something like this with no professional review by someone who knows what they are doing.

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP here -

Looks like I am not alone. Maybe I'll consider FSBO a little more seriously if and when the time comes in the spring. I like the idea of relying on the buyer's agent to handle the paperwork, maybe I could split their commission with the buyer

Btw, for the pp that asked, we are in Vienna. It's not new or fancy, but doesn't need to be torn down. It has a number of things going for it!

You're getting bad advice here, this isn't how it works. Most agents will have you sign something that says you are paying their commission or they have a similar agreement signed with their buyer client. I'm not sure how or why you would pop in at the last minute and give half the commission you promise to an agent to a buyer, but good luck with that. I feel like you're so far out of the know that you're going to wind up in court one way or another.

OP here-

The smiley face was my hint that I was joking. It sounds nice in theory, yes. But practically I know that wouldn't work.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Advertise it on Cragislist, Military By Owner, neighborhood listservs, Zillow and Trulia. You will be able to sell it quickly with no listing commission. Also, tell any buyers who want to use an agent that they can pay the agent directly. This is all extremely easy and maybe an hour to load the listings and photos on the sites. You don't even need a lawyer involved. Tell the buyer to bring the contract as well. All you have to do is sign the contract and find out where settlement is located. The buyer selects the settlement lawyer, so just show it. Enjoy your vacation with the money and effort you will save.

I'm not the OP but would feel very uncomfortable signing something like this with no professional review by someone who knows what they are doing.

OP here - I"m fairly confident in my ability to carefully read through a contract. I've bought and sold a few times before so I think I have a good idea what to look for. If I didn't feel comfortable after reading it though, I would seek the advice from an attorney.

[Anonymous]

OP the only bad thing about FSBO is that when I see FSBO, I think I can get a lower price than other homes since they aren't paying commission to real estate agents. But, in a seller's market like DC this doesn't matter.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Advertise it on Cragislist, Military By Owner, neighborhood listservs, Zillow and Trulia. You will be able to sell it quickly with no listing commission. Also, tell any buyers who want to use an agent that they can pay the agent directly. This is all extremely easy and maybe an hour to load the listings and photos on the sites. You don't even need a lawyer involved. Tell the buyer to bring the contract as well. All you have to do is sign the contract and find out where settlement is located. The buyer selects the settlement lawyer, so just show it. Enjoy your vacation with the money and effort you will save.

I'm not the OP but would feel very uncomfortable signing something like this with no professional review by someone who knows what they are doing.

OP here - I"m fairly confident in my ability to carefully read through a contract. I've bought and sold a few times before so I think I have a good idea what to look for. If I didn't feel comfortable after reading it though, I would seek the advice from an attorney.

Pennywise pound foolish.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Advertise it on Cragislist, Military By Owner, neighborhood listservs, Zillow and Trulia. You will be able to sell it quickly with no listing commission. Also, tell any buyers who want to use an agent that they can pay the agent directly. This is all extremely easy and maybe an hour to load the listings and photos on the sites. You don't even need a lawyer involved. Tell the buyer to bring the contract as well. All you have to do is sign the contract and find out where settlement is located. The buyer selects the settlement lawyer, so just show it. Enjoy your vacation with the money and effort you will save.

I'm not the OP but would feel very uncomfortable signing something like this with no professional review by someone who knows what they are doing.

OP here - I"m fairly confident in my ability to carefully read through a contract. I've bought and sold a few times before so I think I have a good idea what to look for. If I didn't feel comfortable after reading it though, I would seek the advice from an attorney.

Pennywise pound foolish.

Are there agents out there that would review a contract for someone and help with this part of the transaction only? For some type of flat fee?

Furthermore, I've always thought there should be some sort of tiered service level agreement that you can sign up for with an agent. Do you want the basics (contract help only), average (listing, marketing, etc), or the works (they take care of anything and everything) as far as help goes, each with a different fee or perhaps commission. If something comes up mid transaction when all you wanted is the basic, then you would have to upgrade your service to the next level to get that help.