What you are not factoring in to your thought process when you think "I can do this myself" or "I can save on commission" is the current condition of the market.
When the market is slow and you're trying to sell, you need to get the widest exposure in the shortest amount of time, and you need to create a sense of urgency for both the buyers and buyer's agents. Selling as a unrepresented seller or listing with an agent but paying 5% or less accomplishes neither.
Here's a plan:
- LIST WITH AGENT: Have agent put property on MLS but also (VERY IMPORTANT) have agent cold call, email blast and send post card mailer to every agent in your area.
- PAY ABOVE AVERAGE COMMISSION: Just remember, when you reduce the commission, you are not only affecting the listing agent's pay, but the buyer's agent's as well. If you want to get a buyer's agent's attention, offer a higher commission - you should have agent's lining up to show your home. Remember to advertise this as well!
Keep in mind - if 6% is what's been historically negotiated as the commission, a 5% commission is a 16.66% pay cut.
- GIVE A SELLER ASSIST: Offer as an example $5000 (or $2000 or whatever you can) credit towards closing costs....and advertise this.
- CREATE A SENSE OF URGENCY IN ADS: Put an expiration date on the seller assist and higher co-operating agent's commission.
- DO YOUR PART: clean your home, de-clutter, de-personalize, landscape, etc.
Lastly, and VERY IMPORTANT - price your home correctly. An overpriced home will sit - even if you follow the above steps.