I was wondering if selling your house privately through this website is a good idea. I have seen there signs around town and they ads state that you can save thousands of commission. Do you think that this is a good way to sell your house. Any feedback would be appreciated.
Selling privately (I've not used this service) can work if:
1) You are not in a hurry. Without a listing on MLS it will take longer
2) You know what it is worth already. Be prepared for a few lowballs.
3) You are an okay salesperson. Since you will be giving the tours, you need to be able to sell it without being pushy or giving up details you shouldn't be. This does not come naturally to many people.
4) You accept that you are inviting strangers into your home with only yourself for oversight. This can be an issue for higher value properties which would typically have two agents (seller and buyer representation) both overseeing the process. You would be amazed at how many buyers try to swipe stuff.
5) You will hire a lawyer to help draft the agreement/hold a deposit.
6) You are willing to split the savings. The buyer will also be looking for a discounted price.
Last time I listed a property I cleaned it up and went down south for two weeks, handled offers by fax and returned once an agreement was formed. I don't think I will do a private sale every again.
Anyway, if you aren't in a hurry then it cannot hurt to give it 90 days as private sale then fallback to representation if it doesn't sell.
