Has anyone ever sold a Brooklyn property without a realty agency?

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Has anyone ever sold a Brooklyn property without a realty agency?

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whynot_31
Former Lurker
Joined: Mar '06
Posts: 16,361

These folks have decided to go the very unconventional "For Sale by Owner" route with their Prospect Heights 1BR apartment, and seem to be doing a professional style job.

The appeal, of course, is to not have to pay a realtor commission.

Have any readers ever sold a property that way? I suppose you could always see if you are able to get what you consider to be a good price that way, and -if you are not- simply change your mind and decide to go with a realtor.

The Prospect Heights market might be hot enough that they pull it off.

http://bklynaptforsale.wordpress.com/

For better or worse, the change on Nostrand is going to make the change on Franklin look minor.

# Posted 3 mos ago
Domino
Putting the FUN in Dysfunctional
Joined: Nov '08
Posts: 572

I sold my home myself - and in less time than anticipated.

I had a professional appraisal done (not the bogus RE comparisons; the one's the banks use), my asking price was a few thousand over this appraised amount and ended up selling for the exact amount it was appraised at. I listed it in the local papers (had over 80 calls) and from listing in papers to actual contract for sale was less than two weeks. The actual sale was within 60 days of that - of course ended up getting postponed b/c tenants had to vacate.

I had several realtors call and they were politely told that if nothing came thru this way, they could contact again in a month.

WHY am I always the meat in the middle of an imbecile sandwich?

# Posted 3 mos ago
eastbloc
comprador bourgeois
Joined: Jul '09
Posts: 922

No reason not to try, but if you have to do the legwork yourself and if it takes you a few months it will eat into the gains of this approach.

I've privately bought and sold a good number of properties over the last decade and have only balked at using the services of a realtor for the first attempt. If you've played your hand right, and aren't selling at the wrong time, the realtor commission should be well worth it.

# Posted 3 mos ago
whynot_31
Former Lurker
Joined: Mar '06
Posts: 16,361

Yes, realtors certainly provide a service and access to a larger pool of potential buyers.

I suspect the owners listing the above apartment feel confident enough to so because they have experience in the field and/or are getting good advice from someone they trust with said experience.

While the website won't get the hits of a site run by the realty agencies, it shows the apartment in a manner I find more attractive than many of the big outfits.

While fielding lots of calls and showing the unit to lots of people is the traditional approach, it all really comes down to an agreement between ONE buyer and the owner.

For better or worse, the change on Nostrand is going to make the change on Franklin look minor.

# Posted 3 mos ago
BKChickie
Bagel Hole Girl
Joined: Mar '08
Posts: 1,089

I think this can work both ways. When I sold my first place years ago, I appreciated all the legwork my realtor did. At the time, having a realtor also gave me access to the area's MLS--which NYC doesn't seem to have.

Without an MLS, a decent unit in a popular neighborhood probably stands equal chance of being sold by a realtor or by the way Domino describes.

ETA: I don't know what this seller's situation is, but one advantage to a motivated local agent is the ability to do showings in the middle of the workweek.

# Posted 3 mos ago

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