Do I need an agent if someone's interested in my unlisted house?

12 days ago

A neighbor of mine wants to refer her friend to me after I told her I'm planning to sell my home sometime soon. Her friend specifically wants a place like mine and in this very area, and she's certain she would be seriously interested after seeing my home. We'll see but....

As of now I have not listed the property. Nor have I chosen or contracted a real estate agent for myself.

It's a condo, and I think condo selling can be more complex than homes sometimes. Maybe I'm mistaken but I guess I'm wondering if, after this person comes over and agrees to the price I give them, what next? I know people do these kinds of things with a real estate attorney and without an agent when this type of opportunity presents itself. Looking for some guidance here. Is there any reason why I'd want to have an agent of my own before I go through this process? What kind of commission - if any - would be due them if I do secure one? Or would an attorney be enough and take care of all the necessary steps through closing?

I have no problem having an agent involved, if that's actually necessary. In that case, I'm not sure what the cost to me would be though. I want to go into this fairly, to myself and anyone else involved.

Also - I know this may sound silly but it occurred to me maybe I should give my friend (the one referring the buyer) a finder's reward. She's a friend - not a longtime friend but as my neighbor we've become friendly and have gone to dinner here and there. Being that I'd never have to go through the listing process, open houses, yada yada, I feel I'd be indebted to her for the referral. Thoughts on that?

Thanks for any input.

Featured Answer

3katz4me

10 days ago

If you have a buyer all you need is a real estate attorney - much less expensive than a realtor and more competent that many of them.

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Comments (8)

PRO
HALLETT & Co.
12 days ago
I’ve done off market sales a couple times. They worked well and saved me some money. In both cases I knew the property and the owner. I just used my usual attorney to handle the paperwork after we negotiated a price. Agents protect you in the negotiating process and potentially get you a better price by exposing you to more buyers. The actual legal transaction is the same regardless.
J Mig
12 days ago
We recently sold a house in Phoenix to a friend and NEighbor. We just used a highly rated title company. They actually had a real estate contract. There were no realtors involved. The gift of a finders fee is a lovely thought. You could also give her a gift card to a restaurant…
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dadoes
11 days ago
My mother sold her mother's house with no RE agent involved. The estate lawyer wrote up a contract and coordinated with the title company. (Mom also financed the sale for the buyers.)
bsgibbs
11 days ago
We have sold multiple properties without a realtor. A real estate attorney or title company has the expertise to complete the transaction. Most have a standard contract available, to complete the details.

The realtor’s role is more to find you a buyer, or find a property for you.
sushipup2
11 days ago
Don't discount the value of a good realtor's knowledge of the local market and ability to price a property properly. Even if you don't hire an agent, ask 3 agents for free market analyses.
weedyacres
17 hours ago
I echo the above: an attorney is perfectly capable of making sure all the documents are correct, and they only charge a few hundred dollars.

If you wanted an assessment of the value, you could also spend a few hundred dollars on an appraisal instead of paying an agent 6% to run you through the appraisal computer program. :-)
sushipup2
10 hours ago
Agents don't charge 6% for a competitive market analysis.