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  • From: Rob Walton <waltonrp AT bellsouth.net>
  • To: Homestead List <homestead AT lists.ibiblio.org>
  • Subject: [Homestead] For Sale By Owner
  • Date: Mon, 30 May 2005 09:12:45 -0400

Hey all,

Working feverishly here to get my city house on the market and sold. Refinishing wood floors, crown molding, lots of projects getting finished.

I spoke to a couple of real estate people that are local and not your big real estate company corporate types. Liked them both. Both are talking about a 3% commission, normal is 5 to 6%. The way houses are selling here, I think that 3% is huge. It will work out to 9 to 12k.

The guy across the street closed on his house a few weeks ago, just put a "For Sale By Owner" sign up. There were cars slowing down to look so much that traffic was backed up. He got a good price.

My idea is to put up a By Owner sign, make a flyer that describes the house to cut down on calls. I'll get a lawyer to help make sure I am protected. Also put out a letter to all the local agents and let them know that the house is for sale by owner and I am willing to work out a commission with them if they bring me a buyer. I've heard that usually in that situation a commission under 3% is the norm.

Anybody sold by owner? I hate this situation and just want it to be over, but also realize that 1% of the sales price on this house might put in a well on my country property.

Thanks and now back to work :>)

Rob in FL





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