For Sale By Owner -- Issues?
My wife and I are pondering selling our house ourselves. We are beginning to look into how to do it and we have a neighbor that is a Real Estate agent that will assist us. I have a couple very high level questions. We are trying to avoid paying the 6% commission so that we can be more flexible with our prospective buyers.
1) I realize we do not have a brokers license so we cannot technically sell the house ourselves. That being said I assume that we will have to pay a brokerage fee to a broker.. is that correct? What kind of ballbark figure are we looking at? We are in the Baltimore / DC area. The figure does not need to be exact but an informed guess would be nice :)
2) Since we will be selling the house ourselves I feel that buyers agents might avoid us like the plague because there is no split of the 6% fee. Is this a correct assumption or will the buyers agent ask for a commission from us? If I am totally off base then how does this work?
Thanks a bundle!
D