Why don't more people post their homes for sale on Zillow.com and save big on commission cost? ?
The website is so useful to buyers, why can't it be for sellers? I like how one can easily navigate over area maps to see all the homes for sale. The site also provides estimates as to the homes' values, which seem fairly accurate. Most listing, though, are through the MLS and few are for sale by owner. As a seller, I could easily change the listing price, post unlimited photos and details and a website links of my home sale without charge. Also I wouldn't be locked into a listing contract with a real estate agent for a duration. Is there a catch?
- Anonymous1 decade agoFavorite Answer
if you don;t use a RE agent to sell, then YOU have to do all the work that they normally do - the avg person knows nothing about sales agreements and disclosure statements, title searches and all the other legal paperwork involved. You would still have to pay a commission to the buyer's agent and they will expect at least 3% probably. YOU have to be constantly available to give viewings to potential buyers - especially weekends, you'd never be able to go away on a weekend, because if you do and someone wants to see the house - you could have just missed THE buyer, and they'll go on to the next house they can actually see - I bought 3 houses in the last 3 yrs - 2 for investment and for each of the last 2 I - looked at all the good potential ones the same day - and decided THAT day which one I wanted to buy and I made the right choice each time, so if I couldn;t get in to see a house - forget it, I went on to the next.
You will not be able to get the house listed on the MLS system without an agent and that's what 99% of people use to get the property details, not Zillow - Zillow only has basic info
- 1 decade ago
Yeah, the chances are you won't sell your home. Real estate agents work on commission. Most people, at one time or another in their home buying process, end up with an agent. And guess what? Agents won't show low commission homes, because they get nothing for it.
In a sellers market, it can make sense to go with places like that. In a buyers market, it's suicidal.
- tkquestionLv 71 decade ago
A huge catch.
If you go alone in real-estate sales and let's say you make an honest mistake and end up misrepresenting your house to the buyer. Buyer is entitled to take the seller to court for compensation. Real estate transactions are very technical. One mistake can cost you thousands or more.
- Holly SLv 41 decade ago
maybe people just don't know about it.
I have never heard of this website.