Selling w/o an agent
I was wondering if anyone had experience/advice on selling a property w/o using an agent. I own a duplex garden in Greenpoint, and recently closed on a two family in the same neighborhood. About ten weeks ago I signed an agreement with a realtor from The Developers Group. I signed a six month exclusive with him (4% commission). There were problems from the start. He neglected to tell me about a vacation he all ready had planned. He would cancel showings for the entire week if there was Holiday (mother’s/memorial etc.). Basically his sales strategy was to post on craigslist and hold a 90 minute open house on Sundays. It probably didn’t help that he was located in the Park Slope area and the apartment is in Greenpoint. Basically after ten weeks of no movement (even with a 91k price reduction from the original asking price!) there has been no movement. While I certainly question his talents, he was ethical enough to let me out of the six month exclusivity agreement. At this point I am considering trying to sell it myself. I have no experience in the real estate industry other than as a buyer. Is this a terrible idea? Should I assume the problem was with the realtor or is just an accurate reflection of current mortgage conditions? Is taking the 4% commission I would have paid to the realtor and using it to further reduce the price of the apartment wise? To what extent can I work with brokers w/o signing any sort of exclusivity agreement? Any idea what the closing costs are on the selling side? The condo is listed right now for 499k. Any advice would be appreciated!
