Alternatives outside of hiring a real estate agent are being explored by home sellers. Many sellers say they cannot afford to pay commissions to the listing agent or buyer's agent since they already have to bring money to the closing table.
I had a listing appointment and the seller said he would hire me to list his home if he decided to go with a full service realtor but was considering listing the home with a company who would do the basics: put a lockbox on the door, company sign in the yard, and list it in the MLS for a flat fee.
Ultimately, he went with a company that would do the basics for a few hundred dollars.
The seller is the appointment contact for showings and receives all incoming offers. If an offer is received, and the seller chooses to hire an attorney to complete all of the contracts and paperwork, an additional $400-$800 can be added to their expenses.
The seller must stay in constant communication with the buyer to ensure everything goes smoothly up until closing (appraisal, inspections, and loan commitment). If a seller has time to do the work, knows how to negotiate, and understands what is involved in the transaction process then this option may be worth exploring.
Sellers can meet with a few agents to find out what price range to list their home in and get a few ideas of how to market it to sell. They can then proceed to sell the home on their own and pay a flat fee to get it into the MLS. Will homes listed this way sell just as quickly as homes listed by a Realtor?
Patricia Beck – Selling Colorado Springs Homes
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