Depends on the Realtor.
One of the primary reasons to use a realtor is to get maximum exposure for your property. If you want to go to the trouble, you can get exposure for your property by yourself.
You absolutely need to come up with some comps, however. It's the only way to get a realistic appraisal for what your property is worth.
You can stick a "pie in the sky" price on it, but the lender will have it appraised before they make a loan on it. They won't loan more than it's appraised for.
Of course, if the buyer is paying cash or has enough money stashed away to pay the difference between what it appraises for and what you ask for it, there's no problem.
In today's market, I wouldn't be hesitant to ask for more that the bank will appraise it for. But by doing so, you're going to eliminate every buyer who only has enough to pay the minimum down payment,...because they're not going to have $30K extra to fill the gap between what the bank will loan on the property and what you ask for it.
Bottom line,....if you want to go to the trouble sell it fsbo. You'll save some money.
But you're going to have to come up with some comps. They may not be exact comps. But you're going to have to come up with some recent sale documentation from the immediate area in order to justify the price that you put on the property or the bank will balk. (If the price for your property is higher than the comps)
Of course, you can always put a "pie in the sky" price on it and hope that somebody shows up with a suitcase full of hunna dollar bills.
It happens, these days.
Untrue you do not have to come up with comps… that will be the responsibility of the person buying it, or the bank for that matter if there is a lender involved, yes the lender has the ultimate say as to how much they are willing to give X number of dollars to the person that’s buying but it is of no consequence to the seller. It is absolutely sickening how used house salesmen have attempted to complicate the process with coin phrases like comps… I would probably guess that over 80% of the time an appraiser doesn’t even physically look at the property, most times you would be lucky if they even look at the inspection. The game is rigged in the realtors favor, they offer no protection and will not do a thing for you if there is even the slightest chance it doesn’t benefit them. I equate them to politicians and insurance agents. So if your looking to get fuced at least find one that’s good looking.
