[quote=soldbyc21]You should sell it yourself after you get your license and join a firm. I am also from the Nashville area and you will have to disclose that you are an owner agent. Check with your broker to make sure that your E&O insurance will cover you when selling your own home,If so list the house yourself with proper disclosures, every call that you receive on your house is a lead for you. Why give it to someone else? Use your home as a source for growing your business and learning the skills of becoming a good Realtor. As a listing agent myself, I expect at least three new pieces of business off of every house I list. So if you allow someone else to list your home, that could be four transactions you miss out on, not including yours. =0) [/quote]
I wasn't going give it to somebody else to sell, I was going to sell it by myself. The question was should I sell it FSBO or as an agent. Thank you for the advice on E&O insurance! I am glad to see someone else here from Nashville!

It sounds as if your question's been answered, but just one more thought - you will likely pay a buyer's agent whether you FSBO or not. Most serious buyers have an agent if you want those buyers to consider your house, you'll need to be willing to pay a co-op.

The E&O issue is serious - there's a guy in my office who is being sued for $250k as a result of selling his own property and his E&O won't cover it. It's destroyed his life.

[quote=Jennifer Allan]
The E&O issue is serious - there's a guy in my office who is being sued for $250k as a result of selling his own property and his E&O won't cover it. It's destroyed his life. [/quote]

It is terrible! Is he a new agent? How could it happend? Is it a part of broker not getting his part of a commission and therefore not giving any support? Sounds strange. What could you possibly do wrong to get sued for $250k?

It's a bizarre situation, and no, he's not new. He just ran into a very greedy buyer who found a lawyer to take on a crazy case. The broker was sued as well (separately), and so my friend, per his ICA, is liable for the broker's legal fees as well ($50,000). His own legal fees to date are around $70k and the case hasn't even gone to trial yet. The buyer is suing over a repair in the house he says wasn't done properly - but even if it wasn't (which is up for debate), to completely tear it out and start over would cost around $15k which my friend offered to do. Where the $250k came from is a huge mystery to everyone who has looked at the situation.

The plaintiff's lawyer has admitted that they're just hoping for some insurance money, which my friend can't offer since his E&O won't cover it, but in the meantime, his legal fees keep mounting. It's very scary!