Purchaser wanting discount in price equal to commission saved
It is not uncommon for the prospective purchaser to determine what the fair market value is and then ask to have an additional discount equal to the real estate commission you are saving. The primary reason why prospective purchasers are attracted to a “For Sale by Owner” is the prospect of getting a better deal than a property listed with a realtor, due to the commission otherwise built into the sale price. The primary reason you are selling the property yourself is to save the full amount of any commission otherwise payable. Hence the problem.
A compromise may be possible whereby the price is further reduced by a percentage of the commission saved. Again, in practical terms, it is normally an illusion to think that you will save the full or even a substantial amount of the commission. Would you not have a lingering doubt that you could have netted more if it was listed with a realtor?
Tough to sell in a buyer’s market
Buyers in this type of market are very price-sensitive, negotiate toughly because they want the best deal, and have the time to be selective after comparing what is available in the market. You are at a disadvantage if you don’t receive all the exposure possible and use all the negotiating and selling skills available. You could wait a long time before finally selling, and the market could go down further by that time in a declining sale market due to an oversupply of homes, limited demand and reduced exposure.
As you can see, there are distinct benefits to taking advantage of the services and skills of a professionally trained and experienced realtor. Of course, there are exceptions in certain situations where you may choose to sell yourself, but you have to be very aware of the potential disadvantages. The vast majority of homeowners and real estate investors realize the benefits of using a realtor and do so, whether it be for buying or selling real estate.
