People erroneously believe that realtors are the ones who make the sales of houses happen.  Not really.   Realtors only bring buyer and sellers together, which is something the buyers and sellers already could easily do. But the “king” of the transaction, the one with veto power and virtually no accountability, is the lender. It is MUCH more important to be working with a good mortgage broker who will be HONEST with you about your buyers’ genuine chances of getting a loan than having even the best realtor.

A few months ago I posted that my son and his friend were buying a house together. Their deal fell apart when the lender pulled out at the last minute.  That was the week of Thanksgiving.  And yesterday was the day they absolutely were going to close after applying for and getting another loan.   Guess what?  It didn’t happen .   I don’t know what went wrong yet, but how sickening is this for everyone?  I, of course, am mostly concerned about my son who has been living out of a suitcase for 3 months.  But I also really feel for the sellers.  Their life has been on hold for 3 months, too.  Their realtor gave them VERY bad advice. When the first loan fell through, they should have pulled out of the deal.  If one lender turns you down, it is very likely so will the next lender.

So I always recommend sell your own house, but be sure you have the ear of an honest, experienced mortgage broker.  In the Truth About FSBO, I explain why a mortgage broker will be happy to help you sell your house for free.  One of your bonuses is an audio of me interviewing a very successful and experienced mortgage broker.  If you haven’t already done so,  be sure to listen to that.  It’s a real eye-opener!  It will change the way you look at selling houses.