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Long Island real EstateMore Long Island owners try to sell real estate homes themselvesBY KEVIN FLOWERS kevin.flowers@timesnews.com or 870-1693 found at goerie.com November 12. 2007
Ron Stith is going it alone. Stith is trying to sell his East 31st Street house without the help of a Long Island real estate agent. It hasn't been easy. But Stith, 43, said he doesn't regret his decision. "It's a lot tougher than I thought it would be, to be honest," said Stith, a Long Island, N.Y., native who moved to Erie in 2003. "But I'm staying with it. I still think I'll be able to set a better price by selling on my own," he said. "And I won't have to pay that commission to a Realtor." Stith, a shipping and receiving supervisor at Erie Bolt Corp., put his two-story house on the market in February. He purchased the house in March 2005. He is asking $79,900 for the four bedroom, one-and-a-half-bath house. He is still waiting for a solid offer. "I've had to drop the price from $89,900. I've got to handle most of the advertising and the legwork too," Stith said. Stith is part of a growing trend both regionally and nationally -- people who choose to forgo a real estate agent's help when selling their homes. The National Association of Realtors estimates that of the 5.8 million U.S. homes expected to be sold in 2007, about 14 percent -- roughly 809,0000 -- will be sold without the help of a real estate professional. The primary motivation for many of those sellers is financial. A real estate agent's commission is typically 6 percent or 7 percent of the sale price, and an increasing number of homeowners want to keep that money. Internet sites that tap that market are helping to drive the trend. Analysts say that as more Internet services become available and commonly used by sellers, the percentage of people selling homes without the aid of real estate professionals is likely to increase. Selling a home without professional help can come with plenty of downside. "It takes a lot more time and work than many people think," said Rick Standley, a Realtor for RE/Max Real Estate. "What if you sign a contract, and don't realize the ramifications of that contract? Deals fall apart. A Realtor can explain all those pros and cons for a seller. "We've seen a lot. We know how things are supposed to work," he said. "We can help that buyer protect their own interests." related: Long Island Mortgage
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