Las Vegas Real Estate Talk!

eerie · Joined: 03 Oct 2006 Posts: 185

What would be the advantages or disadvantages of not using a realtor?

kelkat · Joined: 03 Oct 2006 Posts: 98

The only real advantage of not using a realtor is not having to pay commission.

The reasons for using a realtor is they do the leg work, they can often get you more for your property, and they usually will have more insight in how to sell quickly.

eerie · Joined: 03 Oct 2006 Posts: 185

I would really think getting buyers to see your house is the real problem with not having a realtor list your home.

I sold my last house to a buyer without a realtor and it was an easy - 2 week deal.

kelkat · Joined: 03 Oct 2006 Posts: 98

Yes, traffic is a definite problem when you list for yourself. Not to mention getting the right traffic as well. Some people just want to come see because they want to see - they aren't even in the market for a house!

eerie · Joined: 03 Oct 2006 Posts: 185

I have heard that, and it's hard for me to believe. I have a friend who isn't in the market to buy - but goes to open houses. I think it's for those who do not have life!

I don't have that kind of time to waste!

CH313 · Joined: 17 Oct 2006 Posts: 9

Some benefits of using a real estate agent are as follows:

1. They take care of the paperwork and can advise on the best way to create the agreement of sale.

2. They know the disclosure laws. Some states require you disclose certain pieces of information to the buyer about the house.

3. Real Estate Agents can refer you to other professional who do their jobs well.

kelkat · Joined: 03 Oct 2006 Posts: 98

I would check out any professions for yourself. I only trust any agent so far (most of them are in it to make money for themself, not to make my life easier Smile

Using an agent usually is easier, but there is a price to pay. If you have the time (and it takes ALOT of time) then selling for yourself can be worthwhile.

LeighA · Joined: 24 Oct 2006 Posts: 64

kelkat · Joined: 03 Oct 2006 Posts: 98

I would say that a typical residential commission would be 6% with half going to the selling agent and half going to the buying agent.

For land sales, it is usually 10%.

LeighA · Joined: 24 Oct 2006 Posts: 64

That is not that bad for some reason I was thinking it was higher than that.

wondering · Joined: 02 Nov 2006 Posts: 30

I really wouldn't recommend not using a realtor. If you have no experience and are just trying to avoid paying the commission, you're shooting yourself in the foot. You could get a lower rate, much less traffic, and not do the paperwork right and end up with a lawsuit or something. Better to get professional help - it's worth it.

kelkat · Joined: 03 Oct 2006 Posts: 98

Using an agent doesn't exempt you from lawsuits. I know of a local case where the agent listed and sold a lot for someone. The buyer built a house on the lot (even got a loan to do it). After the house was completely, the real owner of the lot came to town to check on some holdings and found a house where there had been vacant land. Lawsuits flew in every direction.

Needless to say, the agents check ID before they sell property now.

But on the whole, using an agent can be more of a benefit to a seller than a hinderance.

sweet_mayhem · Joined: 13 Oct 2006 Posts: 42

sweet_mayhem · Joined: 13 Oct 2006 Posts: 42

i came across this web page which features an article related to this thread. the title of the article is Realtor VS. "For Sale By Owner"

here is the link: http://ahghomebuyernews.com/tips.php3?IssueID=36&RowID=216