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Discussion Starter · #1 ·
With high prices I am tempted to sell my primary property myself (FSBO). What transaction risk would I be taking vs. just using a lawyer and how could I mitigate? I know the risks for not getting top dollar, not getting their expertise etc, and I’m comfortable with them, but the actual sale transaction is the unknown.
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I don't think you would take any risk assuming you use a real estate lawyer. If you DIY the forms yourself then I would imagine it is quite risky.
 

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I don't think you would take any risk assuming you use a real estate lawyer. If you DIY the forms yourself then I would imagine it is quite risky.
I have never done FSBO, in fact a long time since of done any RE transaction.

What will you do if a RE agent arrives and says I have a client that will probably like your house and be prepared to make an offer but before I reveal the client I want a buyers fee agreement of xxx. If you say no and close the door you'll never know whether you could have ended up with more in your pocket even with the fee.
 

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Discussion Starter · #4 ·
I would expect to negotiate the buyers fee agreement. Starting point would be “tell your client what a great deal this is and they’ll be happy to pay you what they think is fair”.
 

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I would expect to negotiate the buyers fee agreement. Starting point would be “tell your client what a great deal this is and they’ll be happy to pay you what they think is fair”.
Good come back, I guess? If I was the realtor I would keep walking as I was just told to FO.

Anyway, good luck and let us know how it goes.
 

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Discussion Starter · #6 ·
From having talked with the local big 3 realtors they seem fairly thick skinned and are sharks. I’d assume they’d counter and if it’s one of the 99.9% of other realtors who scrape by, my guess is that they will swallow pride if they think there’s a deal to be made. Only one local comp has gone over asking, so I discount sellers rep value in picking a list price. But this is all theoretical so far!
We’ll see I guess.
 

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I've sold a property in the past without an agent....I've also purchased without an agent.

There are no risks if you use proper forms, a Lawyer and understand the industry.

I used DuProprio (known as Comfree in RoC). They offer great support, legal counsel and all the necessary tools to sell on your own. I recommend using something alike.

I do not recommend selling private entirely (wood stick with a hand written 'For sale' sign) - you'll end up with a purchase offer on a napkin.

The biggest challenge is managing the potential buyers, gauging who's seriously ready to buy and of course, the pesky RE agents that always seem to have a ton of clients wanting to buy your home.

Piece of advice, steer clear of agents or simply be firm with them. The way I handled it was being firm that I would not sign any sale agreement with them and if they wanted a commission, they would have to negotiate that directly with their buyer. They understood I was not a noob and moved on.

Given today's market, you will have plenty of potential buyers who are comfortable proceeding without an agent. If you are not comfortable yourself to manage all this, then I would recommend hiring an agent. It could become overwhelming if you don't understand the full aspect of selling a home.
 
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