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Updated about 2 years ago on . Most recent reply

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Pasha Gorky
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I have a buyer interested in my property. How do I save on realtor comissions?

Pasha Gorky
Posted
I am looking to sell my condo and my friend is interesting in buying. I don't want to pay MLS listing fees or agent commission fees. What's the best path forward for me?

I think I can sell my home for about $180,000. So if I involve a realtor, I am on the hook for 5%, or $9,000 on top of all the other fees.

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Mohammed Rahman
  • Real Estate Broker
  • New York, NY
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Mohammed Rahman
  • Real Estate Broker
  • New York, NY
Replied

Hey @Pasha Gorky - I'm an investor and realtor, and actually have a blog post on this. 

Congrats on finding a buyer by yourself for your condo! You definitely don't need a realtor since a realtor's job would be to find you a buyer. I recommend ensuring that you still hire a real estate attorney as they can draft up an agreement, ensure title is clear via the title company, and communicate with your friend's attorney on any contract documentation needed. 

That being said... the buyer is your friend so if you wanted to draft up the purchase agreement yourself then it might make sense to just hire the title company to record the transfer and etc. 

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