Maybe someone answered this already because I didn’t read all the way through but I can give you my experience trying to go FSBO...

Since 2012 we have bought and sold 4 houses. Most recently we are in the middle of selling one now (currently under contract). We tried to go FSBO for all the reasons the OP stated. 6% commission is absurd for the amount of work they do. All the paperwork you sign is stupid and basically just protects the agents. We had purchased this house without an agent (we flipped it) so we knew what to do. It’s not difficult at all. However...

We grossly underestimated two things: (1) Price. We listed FSBO at $330k. (2) Exposure. Our house was up FSBO for three days and the ONLY calls we got were from agents, without buyers, wanting the listing for themselves.

After three days of taking in at least 50 calls from money-grubbing agents, we called a friend (who is an agent) and had him list the house. A few things followed...

(1) He raised the price from $330 to $345. He agreed to drop his commission to 2%.

(2) 24 hours later we had three offers, two of them all cash, for $10k over asking.

Now, this isn’t to say that FSBO is impossible but I think agents are a bit of a necessary evil. They have the MLS at their disposal, an office full of other agents for which to promote their house (we found one before it went on market thru our agent because someone in his office had the listing, so we got a jump on it), and do have a better understanding of how to price a house.

I say to give FSBO a go and see what you think. It’s worth a shot. But be careful about leaving money on the table.

Edit: Also, there are a TON of horrible agents out there. Probably more bad ones than good ones. But a good one will steer you right. All the stuff people are bitching about (resolution costs, kickbacks at closing, etc) a good agent will give you good advice. Also, with experience comes education. You’ll get a good education selling this house and learn from it.

Honestly I think making sure you have a good agent warrants (to some extent) their costs and actual existence. The industry is very incestuous and it’s dofficult to get exposure without an agent. And that sucks.
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Where did you list the house for sale?... That doesn't make sense based on the eventual selling price.
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Damn!! It’s a good thing they didn’t walk on your lawn going into the house
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I’ll be selling my house in about 10-12 years. I’ll never buy another one after that. Just rent. It’s a never ending cash cow. 2015 saw a new furnace, new central AC, new roof and new hot water heater. Next is windows and the driveway. It never fucking ends
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Buy a better house. Or piss your money away on rent. Your call.
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Yeah lol piss my money on rent. My house is paid off. I pay over $12,000 a year in property taxes where I live. The plan is to sell and move to another state with a lower cost of living. And not own another house.
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This experience sure as hell makes renting sound like an attractive option. After the fees and other bullshit, plus paying off our 25k HELOC for renovations, we're walking away with a whopping 40k more than we paid for it 20 goddamn years ago.
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My friend lives in Ohio, he grew up here and moved there in the early 90’s. He started flipping houses to rent out about 10 years ago. He bought some of them for as little as $25,000 outright. He then refurbishes the entire house. He has 6 houses rented out at at least $1,200.00 per month. Currently working on house number 7. He has a full time job and does this on the weekends. After he finishes house number 7 he can retire lol. He pays $600 a year in property taxes per house.
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That is just crazy, similar to what we had in Illinois.

When we were ready to retire from there and sell our home, I put it out in the listing that I would pay a $2000 bonus, if sold in the first 30 days. MLS said that was against their rules, but the word was already out. :-)

I was thrilled to pay it when it happened, and felt like I was being released from prison.
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Yeah and now my douchebag governor wants a “rain tax” lol to fix all our roads. In hindsight I can sell and move to PA and still work here. But then I have the exit tax shit. My asshole feels like the Grand Canyon
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Jesus fuck. Where do you live?

Fuck that noise. Reject it and counter.

Is the stuff you have to fix because it is a government loan?
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$205,000 house and your fees were over 12% of the value of the home? You got fucked right in the ass.
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Ok, I miscalculated, only $21.5k

11,500 realtor commission
5,000 buyer closing costs
2,000 bullshit from the home inspection that I'm not allowed to fix myself
2,000 seller closing costs
1,000 prorated property taxes

I'll still agree with "fucked in the ass" though.
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The only way I would sell the house and pay buyers closing cost, which must include origination in your calculations, is if it was priced into the total purchase price. Basically you were giving the buyer an extra $5000 discount. If you sold it in 4 days, this was most likely not necessary as you seem to acknowledge. Next time, if there is one, you will save some money!
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And there's the problem right there. This is the first time I ever sold a house, I have 0 experience with it. So I counted on the realtor to properly advise me throughout the process. When it was all said and done, I realized all she cared about was getting the sale done quickly. Yeah, it was a learning experience, but learning after the fact with this much money at stake doesn't do me a damn bit of good.
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