Hello, me and my hubby have decided to sell our long-time rental and are stilling being quoted 5% or 6% sales fees by the typical agencies. We have been approached to show the house to an investor (save these commissions and other closing fees) and want to make sure we are not exposing ourselves to unscrupulous actors.

Any tips would be appreciated!

Investors typically want to buy places at a discount. The price they will offer you will typically be more and often much more than the commission you would pay a real estate sales company.

Also, a high percentage of buyers use a real estate agency to find a place, maybe 85 percent or more. You usually get a higher price by exposing your place to as many potential customers as possible. That's why you use an agency.

Also, if you do it yourself or if you use an agency, get the proper paperwork and go through a title/escrow company and let them do all the details. This protects you as they do this all the time and know all the required things.

Be careful of investors who don't want to use normal procedures as some (but not all) will take advantage of those who are not experienced. Another reason to use a good agent/real estate company.

When I buy places, if there is no real estate agency representing the seller, one of the first things I say is "I see you don't have an agency representing you so let's just deduct the commission you would have paid", Honestly, the amount of the commission will likely be taken off the price either way, so why not have a pro work for you.

We are not in a strong seller's market right now because of higher interest rates and the recession the country is in right now so the likelihood of multiple over the asking price offers is low. In conditions like this, the widest exposure of your property is needed to get your best price.

You didn't think that MLS law suit was really going to change pricing did ya?

But anyway, the realtor services have always been negotiable. Consider offering a flat fee. Tell them you'll pay $5K on the seller's side and 5K on the buyers side (you set the price). The major players may or may not go for it but a smaller outfit might.

If I only had one rental, the MLS would be the way I would sell. You simply have too many tire kickers.

Just more a bit more detail, in Richmond there is a seller's market, especially considering the house is in a good location, walking distance to Va Commonwealth University. According to the agents we have interviewed, the inventory is very low and the house would sell quickly.

Welcome to the Sellers Club.