Are you Selling By Owner?
Selling your home on your own (for sale or rent By Owner) can be rewarding and fruitful, provided you are prepared to market, monitor and negotiate the sale or lease of your own property.
Although By Owners attempt to sell entirely on their own, cooperating with and protecting brokers is a common and prudent strategy as potential buyers primarily work through real estate agents.
By Owners who offer to pay a fair sales commission to any broker that procures a ready, willing and able buyer, will see buyers through brokers. Doing so maintains the ability to sell privately and if a broker does procure the ready, willing and able buyer, the agreed sales commission (not a listing commission) is due.
Are you Selling By Broker?
If you are listing and selling exclusively by broker, it is advantageous to select an agent that keenly understands the waterfront market who will shed light on the amenities and characteristics of your property and waterway location. Waterfront is unique and attracts a clientele whom often have equally unique requirements. Looking for an agent? Contact Water Estate
Already listed with an agent? Have your agent post your property for sale or rent on Water Estate®. It's free, simple, and provides great exposure for your waterfront property and agent!
Get an Instant Home Value estimate along with a list of other recently sold properties in your area.
FAQ's & Tips
Q: I would like to market my waterfront property for sale or rent myself, how do I advertise on Water Estate?
A: Go to Advertise Waterfront and start a By Owner Account. It's completely FREE!
Q: What percentage sales commissions do cooperating by owner property seller's pay a selling broker?
FYI – Residential selling broker's sales commissions generally average in a range from 2.5% – 3%.
Tip – If offering an above average sales commission, you may experience heightened interest from real estate agents, providing you increased exposure to potential buyers.
Q: When cooperating do I need to sign a listing agreement with a broker?
A: No. When selling on your own and cooperating, the only contract you need ever sign or see with any broker is a contract of sale or lease, which, should include the buyer's information, offer price, broker's name and the sales commission percentage.
A: YES! If your broker is marketing to sell or rent your property to waterfront buyers it's great exposure and FREE.
Q: I would like the services of a real estate agent to estimate the market value, promote and represent my waterfront property, can you provide a licensed real estate agent?
A: Yes. Contact Water Estate for a Water Estate Partner and waterfront expert in your local area who can sell or rent your property.
Q: What is the Water Estate Association of Waterfront Professionals?
A: A professional network of real estate brokers and agents keenly proficient in waterfront.
Q: What is the MLS or Multiple Listing Service?
A: In real estate terms "MLS" stands for 'multiple listing service' - the database owned by real estate agents and their regional trade associations. There are over 900 independent MLS's across the United States, each specific to their local area. Licensed Agents/Brokers can list your property onto MLS's.
Q: Is Water Estate an MLS?
A: No, Water Estate is a nationwide service exclusive only to waterfront real estate. Properties posted by both real estate agents and private By Owners are aggregated into one national database providing enhanced search and heightened exposure for waterfront. Go here to Advertise Waterfront
Q: I have more questions?
Points of Note
How Brokers Share Commissions – When a sale results, the commission (commonly 6% for residential sales) is divided between the listing broker and the selling broker.
Sales Commission - The commission earned by the selling broker (aka: Participating Broker). Often half the commission stated in an exclusive right to sell agreement (the listing) between the seller and the listing broker.
Agent Role - Licensed Real Estate Agents have a fiduciary responsibility to represent either a seller or buyer.
Legal Representation - Have an attorney selected to review sales contracts.