How Do You Sell Without a Realtor?

Question

I would like to sell properties without a Realtor and save some commission.  I know that a Realtor is a valuable part of an Investor's team but frankly, I've struggled to find a good Realtor to sell 2-6Plex buildings.  Most want to load it on MLS and Loopnet and then they sit back and wait for a call.  I expect more when paying $25K in commission, but it seems more and more Realtors want to list properties and have others sell them.

I'm also realistic though and don't want to sit on a property for months trying to save a commission so I'm if you have past experience selling your own properties I would really appreciate your insights as to what worked and what didn't.

Thanks for your help,
Jonathan

Jeffrey Nowakowski · Answer

There are some great resources out there these days. I too hate to pay 6% in realtor fees. Even if I got the property at .65% that is still 20% of my profits.
Open houses and craigslist.com are great sellers. Look into Postlets.com to make great flyers for craigslist.

I also have a question here. I used to use a service called iggyshouse.com for free MLS listings. Just this week their website shutdown and I got an email saying they weren't listing in Colorado anymore. Does anyone know what happened to them?

Mike Norvell Sr. · Answer

Hey,

There are Realtors that would assist you for a Flat Rate..Get your property on the MLS and all other sources that the Realtor can do..You can also let the Realtor field some of the calls and do the paperwork when and if it comes down to it..

Using a Real Professional in any business always is worth it. Interview a few and find out who has the contacts in the exact type of property you are seeking to sell.

There is no exact science any more to get a property sold...But hiring the right professional will definitely increase your odds, and there's a justifiable value in paying for that type of service.

Mike Norvell Sr

Dwight (Matt) Mathews · Answer

Find yourself a (Real) Buyer Agent who specializes in working with Investors.  My clients get the best of both worlds.  The due diligence and Negotiating Expertise on the buy and a buyer waiting on the sell.  I give my Investor clients a turnkey network of resources  and one on one expert advice.  Of course, I'm not your average Agent!  I'm hard to find and get paid accordingly.  Find a partner/Agent who is also an Investor and you'll never have to be concerned about how much commission you'll have to pay.  You'll be offering more $$.

Jonathan Scott · Answer

Thank you all for your advice.  I think Michael point about buying the house with enough margin to allow for a Realtor's commission on the back end is right on.  I'll also check out the customized signs websites and the 5-day method in Effros's book.

Thanks

Bryan Winter · Answer

I have used the 5 day method described in Effros's book how to sell your home in 5 days. sold 2 homes this way. I have also listed properties on the MLS myself for a couple of hundred bucks offering 3-4% commission to buyers agent. I have also listed with agents for 1 to 1-1/2% sellers commission and in the terms if i find a buyer first than i agree to a $500 bonus and no commission to the seller or the same if i find  someone to owner finance too!. If they dont wanna work with you on commissions find someone else...you are bringing alot of repeat business and they should be happy to get your listings...

Anyway...be creative and never sit still on your listings

Account Closed · Answer

Here is the deal .... If you are not buying the property low enough to use a Realtor to sell the house you’re paying too much for it...

Enter into an open Listing with an agent to get the house in the MLS and also advertise the house yourself..

Michael Quarles

Account Closed · Answer

A few thoughts on this topic.

1. Your job is to find more properties. That is where you make money, is by maintaining the pipeline of properties. Any time spent not doing that is a loss.

2. So, how can you focus your time on that. Spend time up front developing your system and team to handle the properties as they go through your plans. In other words, find the agent that is the most successful around. Ones that you see their names all over. This means they get the concept of marketing and can tap into a proven list of potential buyers.

3. If you go to an agent that can sell the property fast, then you are set. What are you holding costs each month? If they help you sell if 2 months faster usually that there is enough to make their commish worth it. And during that time, you were out finding your next deal.

Laura Graham · Answer

One of the things about selling through a Realtor is all of the tools and resources they have.  A lot of buyers trust them because they can be certain that the Realtor knows what they are doing and it is an easy first place to start when looking for a home.

If you can give yourself a professional appearance, though, and make it look like you really know what you are doing then you will have that plus on top of actually caring about if and when your property actually sells.

Some sellers don't put a lot into their marketing to make themselves look professional because they want to get the most money possible out of their sale.  If you are going to sell without a Realtor, though, it's pretty important to put more into your marketing.  By advertising you make yourself easier to access and you also give more assurance to buyers that you know what you are doing.

Some ways to give yourself a professional appearance are through newspaper ads and yard signs.  Instead of just putting a classified ad saying that you have a house for sale it is good to pay for one of the ads in the section like the Realtors have advertising that you have houses for sale.  You can also buy customized yard signs instead of just buying a "House For Sale" sign at your local market.  There are some sign websites that have some nice-looking signs.  Two of them that I have found are: http://designsthatsell.biz/ and http://realestatesigns.com/

I really like Designs that Sell because they have such a huge variety and they also help you with your fliers, business cards, newspaper ads, etc, so that you have a professional matching theme for all of your marketing materials.

What are some other things that people on this forum do to make themselves look more professional and also more accessible to buyers?

Skylar Howard · Answer

Let me ask you a question. Who is the most passionate person about your deal? The answer is probably you.

Eric Foster · Answer

If I am selling for all cash to a retail buyer, I use a Realtor.

If I am selling with terms, i.e. Lease Option, I sell it myself.

However, when listed with a Realtor, I have an agreement that should I wish to cancel the listing, or if I sell it myself, they will release me from the agreement.

Find someone hungry… Make them discuss with you what they will do to sell your property. You are hiring them, make them interview for the job!

Take care!