Expert: Jessica Bryan - 6/23/2006

Question
Hi!  Thank you for your help. I bought a new house in a retirement community but after being here for only two months I feel it is not for me. The area is so far away from everything that I do that I'm spending all my time and money driving. I feel that I have made a huge error. I've spent $7,000 putting in hardwood floors and under cabinet lighting.  I don't want to pay capital gains.  Because there isn't a lot of traffic in this area and  the age restrictions would it be better and less expensive to sell it by myself rather than a realtor?  Where can I get the best advice on selling my house by owner?  Can I list it on the MLS somehow without a realtor?

Answer
Hi Diane;
You brought up several points in your question...you don't want to pay capital gains, traffic, and expense to sell, along with MLS listing.  First, let me address the capital gains issue.  You should check with your accountant to decide what will happen when you sell this home.  Sometimes, the personal enjoyment of living elsewhere is more important than costs.  However, your accountant can advise you what that cost would be.

The second concern is that you don't have much traffic in the area: this is a good reason to list the home so it gets more attention since you won't be able to count on alot of drive by traffic.

The third concern is getting advice on how to do a FSBO.  You can do some internet research and contact For Sale By Owner or log on to www.forsalebyowner.com. There are a number of other web sites if you do a FSBO search.  These sites and companies charge a fee but will get you information that you will need to sell the home yourself.

The fourth concern is the big one: you need to get attention from the MLS and in so doing you will be linked to national websites such as www.realtor.com.  You cannot list the home on the MLS without a REALTOR.  REALTORs pay a membership to MLS (along with the membership in the professional organization of REALTORS--not all agents are REALTORS) and must follow stringent guidelines when they list a home. There are, however, companies that will do minimal service and charge a much lower fee to list the home. These companies and agents go by many different names throughout the US but what you need to look for is a company or agent that advertises reduced fees or limited services.


Good luck and best wishes,
Jessica Bryan
Managing Broker
House to Home Realty Services