Trying To Sale By Owner. Anyone use IggysHouse.com?

[Omega Point]

I’m trying to sell my house by owner and came across Iggyshouse.com. It says that it will put your house on the MLS for free. Does anyone have any experience with this site that they’re willing to share? Also, if my house is on the MLS without a selling agent, will buying agents be reluctant to show the house? If so, any advice on how to get buying agents to show my house if I don’t have a selling agent?

Any other helpful hints that you can provide when selling a house by owner would be great too.

Thanks for any help.

[SD Realtor]

It is a tough question because when one side is not represented in a transaction it does open up a huge liability for the side represented by a real estate professional or an attorney. Invariably many prefer not to take the risk.

My advice is to offer a competitive commission at the very least for buyers you are attracting. Since you are not paying a listing fee, make sure you price your home BELOW comps, don’t try to be greedy and price it at comps. Make sure the house shows well.

Best of luck!

SD Realtor

[Anonymous]

If you really want to sell your home, I would recommend going with the MLS service, pricing your house a little below comps, and then have your own open houses from 11-6pm every single Sat and Sun, post on Craigslist etc. When people come in, tell them that you are not paying a listing commission, and that if they don’t have a realtor you are able to go lower on the price. Be a salesman about it and make the value proposition clear. You buy from me with no realtors involved = you get a house for 5% less than anything else you will find. I sold a house this way and was able to cut $25,000 off for the buyers, but still pocket more for myself than if I had sold at current comps. This was in March 2006, and every single neighbor that has tried to sell since has followed the market down by following conventional pricing and selling methods. Endless open houses increases the chances of an unrepresented buyer strolling in – your target buyer. My neighbor listed the same day I did, full service realtor, took 18 months to sell, refused to reduce his price and lost 100-150k. Most of the traffic I had come through didn’t have realtors. If they are worried about liability, offer to pay up to $2,000 for a lawyer to look over the closing! In this market you are going to have to slash your price – might as well have the first 5% come from the realtor fees you are not paying.

[Anonymous]

If you really want to sell your home, I would recommend going with the MLS service, pricing your house a little below comps, and then have your own open houses from 11-6pm every single Sat and Sun, post on Craigslist etc. When people come in, tell them that you are not paying a listing commission, and that if they don’t have a realtor you are able to go lower on the price. Be a salesman about it and make the value proposition clear. You buy from me with no realtors involved = you get a house for 5% less than anything else you will find. I sold a house this way and was able to cut $25,000 off for the buyers, but still pocket more for myself than if I had sold at current comps. This was in March 2006, and every single neighbor that has tried to sell since has followed the market down by following conventional pricing and selling methods. Endless open houses increases the chances of an unrepresented buyer strolling in – your target buyer. My neighbor listed the same day I did, full service realtor, took 18 months to sell, refused to reduce his price and lost 100-150k. Most of the traffic I had come through didn’t have realtors. If they are worried about liability, offer to pay up to $2,000 for a lawyer to look over the closing! In this market you are going to have to slash your price – might as well have the first 5% come from the realtor fees you are not paying.

[Anonymous]

If you really want to sell your home, I would recommend going with the MLS service, pricing your house a little below comps, and then have your own open houses from 11-6pm every single Sat and Sun, post on Craigslist etc. When people come in, tell them that you are not paying a listing commission, and that if they don’t have a realtor you are able to go lower on the price. Be a salesman about it and make the value proposition clear. You buy from me with no realtors involved = you get a house for 5% less than anything else you will find. I sold a house this way and was able to cut $25,000 off for the buyers, but still pocket more for myself than if I had sold at current comps. This was in March 2006, and every single neighbor that has tried to sell since has followed the market down by following conventional pricing and selling methods. Endless open houses increases the chances of an unrepresented buyer strolling in – your target buyer. My neighbor listed the same day I did, full service realtor, took 18 months to sell, refused to reduce his price and lost 100-150k. Most of the traffic I had come through didn’t have realtors. If they are worried about liability, offer to pay up to $2,000 for a lawyer to look over the closing! In this market you are going to have to slash your price – might as well have the first 5% come from the realtor fees you are not paying.

[SD Realtor]

It is a tough question because when one side is not represented in a transaction it does open up a huge liability for the side represented by a real estate professional or an attorney. Invariably many prefer not to take the risk.

My advice is to offer a competitive commission at the very least for buyers you are attracting. Since you are not paying a listing fee, make sure you price your home BELOW comps, don’t try to be greedy and price it at comps. Make sure the house shows well.

Best of luck!

SD Realtor

[SD Realtor]

It is a tough question because when one side is not represented in a transaction it does open up a huge liability for the side represented by a real estate professional or an attorney. Invariably many prefer not to take the risk.

My advice is to offer a competitive commission at the very least for buyers you are attracting. Since you are not paying a listing fee, make sure you price your home BELOW comps, don’t try to be greedy and price it at comps. Make sure the house shows well.

Best of luck!

SD Realtor

[Author]

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