First, I'd be cautious about your cousin - I believe (a Realtor here can confirm) he need to be licensed in your state.

Next, take a look at your market. Are homes selling? How long does it take? How soon do you need to be out? If you have a timeline, make sure you're being realistic. If your area is swamped with houses and you need to get out, having your cousin (or any flat MLS Realtor) sell it may not be enough - you may need marketing, etc. Also, know what Realtors will help with negotiations, which I know we were completely unprepared for.

No, I'm not a Realtor. I did the limited service MLS thing for months, got rid of it, got a Realtor, and it looks like we're sold. The traffic through the house increased 10 fold. It seems some Realtors out there don't like (or aren't allowed to) deal with limited service sellers.

I wouldn't touch the attic unless you're ready to pull permits, etc., on it. There may be zoning and/or code problems, too, but I'd check with the city. If it's unheated, I wouldn't even think about it - leave it as storage.

Thanks so much! Houses here are selling, and I do not seem to deduct a drop in prices, but it looks like they are sitting a little bit longer. This is still a relatively affordable area (NE Philly). House down the street sold, but took 2 months, whereas the townhouse we share a wall with (this is a corner twin) sold literally overnight 1.5 yrs ago.

We do not need to be out till August, so there's some time. Truth be told, we have a minimum we will NOT sell under and we'll just keep the mortgage for a bit longer. Thanks again.

Also, your cousin has to work under a broker, and it is up to the broker whether or not to give you a "freebie". In any case, if you are listed on MLS you will have to offer a commission to the buyer's agent, or else no one will show your house. In most areas that would be 2.5 to 3 percent.

Is your cousin very familiar with the RE market in your state , specifically, in your town? RE is regional.
In my area, RE market varies from TOWN TO TOWN!

Your cousin can put your listing on the MLS, but after that, you are on your own. Unless she can guide you through the process & you have a good RE attorney, you shouldn't go FSBO.

1-My experience has been that realtors BOYCOTT FSBO's.
They will show homes listed by agents before they even think of showing your FSBO property.
I am listed by a semi FSBO. I pay 2.5% to the selling broker & I do all the work. I know what I'm doing. I listed it that way for other reasons than to "try to save money...." However, the realtors don't know that. They think that I'm trying to cut out the listing agent & THEY DON'T LIKE IT!

I have seen where my house has not been shown & the house one street over ( a crappy one, but listed with a broker) has been shown by realtors.
It's like they refuse to show it, unless the buyer requests it. Most buyers trust that their realtor will show them ALL the properties in their price range, so many don't bother looking themselves for listings.

2-Many buyers are reluctant to contact the seller themselves, thinking that they are unprotected by not working with a realtor (which is far from the truth).

Good luck.

If you are a 1st time lister then get an agent. It is one thing to do something yourself but it is another to do something yourself without ever seeing it done before.

After you use an agent once then decide if that is what you want to do the next time you sell a house.

Thanks again. Because we have quite a bit of time (do not have to move till August), I was thinking of doing a FSBO initially, after getting the comps. I realise this may be ill-advised in the case of a first-time seller, but I am quite familiar with the process, we will secure an attorney and I am going to be an attorney myself in just a few months. May still be a bad idea, though...

I've had a good FSBO/flat fee MLS listing experience. We had about 20 showings in a three-month period in a slower market. Half were by agents, half were FSBO. We ended up selling to the first FSBO couple to see the house---an agented couple made a contingent offer and the FSBOs decided to counter with a non-contingency (their house is still for sale, but they're going the two-mortgage route). I know the experience could be different elsewhere, but I completely recommend trying FSBO for a while and then listing on the MLS for a flat fee if you want more exposure.

I also had a good experience with a flat-fee realtor earlier this summer. We sold in one week. I'd heard horror stories from other sellers--stuff about agents boycotting the listing, or unethical realtors who schedule appointments for phony clients and then show up only to badger the seller into listing with them.

Awhile back, there was a discussion about the "exclusive right to sell" and how if you list with a flat-fee agency that doesn't do this, it tips off agents that you're doing a flat-fee FSBO. I listed with an agency that did do exclusive right, and like I said, I had no problems. Several friends of mine, though, in the same market used different flat-fee agencies and had far different experiences. I have no idea if it was the exclusive right thing that did it. (I confess I still don't entirely get the concept.)

I think if you're well-informed and can handle the time committment and stress of selling, then definitely go for it. It does offer you more flexibility with your price than going the full-service route, if you're in a buyer's market.

I do think you have to be able to not take things personally, which can be tough. I just started thinking of my house as "the property" instead of "my home."

Incidentally, although almost all our showing were with realtors, our buyer came through Craigslist. Definitely a great resource if you live in a metro area!

As someone else asked, is your cousin licensed in your state? No--then he/she can't list it in your local MLS.
If she/he is not licensed in your state I doubt he/she could even put it on realtor.com.

There are literally thousands of MLS's throughout the country. It's not a single entity. It is a local corporation. I doubt your cousin does or will belong to the MLS you would want to list the house on. Because of that your cousin will not have access to the comps of the MLS. For example, my company has offices throughout the state. I don't belong to those MLS's though and can't access the comps for a town a 150 miles away.

Your cousin can refer you to a local agent though.

I'd have it inspected first to get an idea what the repairs might be and then list it "as is". I wouldn't do anything else except cosmetic stuff. Declutter, a coat of fresh neutral paint, and spruce up the landscaping.

I'd want to hire a local realtor who has sold other houses in your neighborhood. Sign for the shortest time allowable in case you need to cut bait and switch if the first one doesn't work out.

You know what your bottom line is. Factor that into comps, plus what you will have to pay the realtor and get ready for the ride!

I agree with the other posters. Your cousin can not list your home because she is not licensed in your state and he broker would have to okay it. People think that since agents are independent contractors they can do whatever they want. That is not the case. We can only do what ou brokers allow.

I totally missed the part about the cousin living in another state. The cousin would have be working under a broker in your area AND belong to your local MLS in order to list the house. Sounds like the cousin doesn't know much about the business yet.

rapunzel, it's never bad to try to FSBO if you have time. Just make sure to research all the required disclosures or documentation needed.

I am actually changing from an exclusive right to sell with an agent to FSBO this week. I have had several friends and colleages tell me that they have only sold FSBO and they recommend it. The last two houses of three houses to sell in my neighborhood were FSBO. Since you don't need to move fast, you might hold off of a flat fee MLS listing and try it without one for a few weeks.

Just remember the buying public is being told on the news everyday it's a buyer's market, the real estate bubble has burst, mortgage rates are rising, blah, blah. So your sale may be affected by the general good or bad news depending on what's on the TV. You should check out your market, talk to a few agents to get an idea of what your proeprty is worth and try not to think you have to satisfy all of the buyers all of the time - you will drive yourself crazy and spend too much money "updating" a used home and not getting that "new" home price. Unless if you are in California where I have no understanding of the price of housing.

Good Luck!

I believe that the cousin can list your property on the MLS. My flat fee semi FSBO broker, who is located in Florida (I'm in the NE) did just that.

I paid a flat fee broker $399 for a sign & the listing is on the MLS & Realtor(dot)com. They put your pictures up & everything. I placed the sign in the yard. I show the property,advertise it & make brochures. My house shows up on the MLS just like any other house listed by a local broker.

I don't know why some of you think that brokers/agents need a local RE license to place a property on the MLS?

If you have time & your RE market isn't dead, I would try it FSBO with a limited fee broker (pay the % to the buyer's broker), because you get the exposure & showings like a regular listing.

Just remember that the realtors aren't keen on on showing FSBO listings...The other sign of the coin-the realtors are becoming desperate to earn a commission, so they will show your property ;)

I believe that the cousin can list your property on the MLS. My flat fee semi FSBO broker, who is located in Florida (I'm in the NE) did just that.

There are brokers who get licensed in several states so that they can do exactly that. They still need to join each MLS that they want to list on. The OP's cousin isn't a broker, just an agent. The OP's cousin could even get licensed in the OP's state, but they would need to work under a broker there. I doubt that the cousin would want to pay the licensing fees in another state just to list the OP's property for free.

I don't know why some of you think that brokers/agents need a local RE license to place a property on the MLS?

Because it's true. Like I said, a broker can be licensed in multiple states, but they must pay all of the fees and join each MLS in order to list.

You are correct, my cousin cannot help me. It was just an initial idea offered by her mom anyway.

We will just do the FSBO sign for a few weeks then decide. We are having a couple of agents come through to give us an idea of the price before we list.
I do know two realtors in my neighborhood who will show it if they have buyers in that range. Not much, but I have time. Moreover, if it does not sell at all for close to what I want, I will just pull it off the market. Thanks again.

One more question: as a FSBO, do I need to have a questionare on home condition/disclosures at the ready? I know we received one when we bought 3 yrs ago, but not sure if that is specifically requested or I should have copies ready? Thanks!

rapunzel--In Illinois, the seller's disclosure form is required when a written contract is going to be presented to you or entered into. This applies to FSBO offers, too. It might be a good idea to have one on hand if a possible buyer wants to review it before making an offer.