It really depends. Do you want top dollar or just want out? Many years ago we put together a list of services we do to get a house sold. There are over 200 items on the list. But just in terms of marketing how many websites did your friend use? Who took the pictures and were they professionally done. Did he/she have a professional narrator for the video tour? Now, if you could compare apples and apples in one zip code you would find that it cost her 13 to 17% to sell her house on her own.
Here is a tale of two Johns:
John #1 I knew for 25 years from outside the real estate business. He listed his home with one of the Flat-Rate Companies and sold his house in 6 days for $150,000. At the same time I was two streets over and had the identical house, both built in ’79, and didn’t sell it for 3 weeks. It sold for $175,000….Do you think $25,000 was worth 3 weeks?
John #2 I had only known for 15 years, I used to live across the street. Our mutual neighbor asked me to sell his house. John #2 had been trying for 2 1/2 years. His house was newer, had more square footage, an extra bedroom and a fabulous recreation room, a new roof and it was 2 years newer with nicer appliances . John did eventually sell for $179,999. I sold the smaller house next door for $223,000.
Let’s see $223,000 X 7% = 15,610 Commission = $20,7390 Gross (before closing costs)
$179,999 X 0% = 0 Commission = $179,999 Gross (before closing costs)
Gross Loss $20,7390-179,999 = 27,391 – 15610 = $11,781 Loss after paying more than 7%
These are all actual numbers and not all agents are created equal but you can see what is possible and usually happens.
She is right, there are agents that just do the 3 P’s – Put up a Sign, Put is in the MLS, and Pray.
Interview agents and don’t let them just tell you what they will do, have them show you what they have done and are doing for others. You want an agent with the ultimate marketing machine for every house they sell. The key is EXPOSURE to the buyers. You want every buyer looking for a house like yours to know your house is what they are looking for and you want them to see it everywhere they look. The buyers that see your house the more will visit the house, the more that visit the house the more, the better and the quicker you will see offers.