Profile picture for SM Senn

Anyone have some advise on selling there home themselves?

I have had my home on here since 07, unrealistically priced for sure, but dropped it down to competitive pricing two months ago and not one bite, and all I hear is inventory is really low locally.  Have agents approaching me all the time?  What gives?  And also do I actully have to pay the/a buyers agent? I have read yes, and then no?  Thanks in advance for any info.  I just think it is crazy to pay someone I don't know my hard earned money, if it was a flat fee, then I would hire them.  20K to sell my house is insane! My profit went to the bank in interest  years ago.
  • October 09 2012 - Tacoma
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Answers (13)

99% sell via MLS and Realtors, but a solid 1% sell FSBO. Honestly, price sells homes, not people. When priced correctly, you will receive offers. Problem is too many people thingk their home is worth what it 'was' years ago, which is just not realistic. In reality, all of our homes were too inflated due to poor finanical products on the market, and should have never been that high in the first place.
  • October 09 2012
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Profile picture for Dunes ..
As far as Vince's dramatic statistic..
If a person uses a Flat Fee Service ($200-$500) to list on their local MLS and doesn't use an Agent for anything else (And many FSBOs do just that ) then the National Association of Realtors doesn't count them as FSBOs when creating their %'s....statistics

Plus if that % is from the NAR Profile of Home Buyers and Sellers then it's from a Survey with a less than 8% return rate...

" if it was a flat fee, then I would hire them"
Then shop around cause you do have options

From the DOJ website..Washington State
"Allows brokers to offer rebates to consumers"
What are the laws in your state?

This info on the DOJ Anti-Trust website may interest and/or help you
Lots of info...Competition and Real Estate
  • October 09 2012
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SM,
Are you sure you pricing is correct.
Values have dropped significantly since 2007.
If you need a quick valuation..let me know..no strings.
Regards,
Robert
  • October 09 2012
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Profile picture for hud_va
The best way is to advertise it Papers and the internet, and offer all Real Estate Brokers a selling commission.  Drop your flyers to all the local Real Easte Offices to advertise it along with an offer to the Brokers.
  • October 09 2012
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Profile picture for MatthewLongKW
SM-

I buy/sell multiple homes. Even before I was an agent I got alot of leads selling my houses with free high traffic websites. Have you ever tried listing your property on the web with the following sites: Craigslist, Yellow Pages, USfreeAds, Ebay classifieds, and Oodle pro. Here is my best advice, list it at the right price, expose your home as much as possible through the websites, and follow up on all inquiries ASAP. All these websites I've listed above are free and are great tool to getting your house sold FSBO! HOOAH!
  • October 09 2012
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Profile picture for nwhome.us
PS.

Whether it's 90% or 80% of all homes sell through a professional network, the retail price of all of those homes includes a commission.

Why would a buyer, coming to you without an agent, pay a retail price?  List the home at 6% below current market value and advertise that you aren't paying any commission at that price.  If a buyer comes to you with an agent, have them pay the agent themselves.
  • October 10 2012
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SM Senn.   Unless a home has some other reason like extremely steep lot and/or driveway, very close to or on a major roadway, is in poor condition and needs substantial investment of time and cash, if priced properly, i.e., consistent with the most recent sales prices of comparable properties within the same neighborhood or a short distance away, it should have sold in average number of days on market for the area.  
There is a price for every property.  Everything sells when priced well unless there is a property condition that turns most buyers away. 

Do you pay your doctor for services rendered?   I don't get that question.   Why should I pay my hard earned cash for whatever it is that you do?   Seriously?  

It is a good thing that you are not a serious, motivated seller because by having your home overpriced and on market for so long,(seriously, since 2007?), you have probably managed to stigmatize it in the marketplace, and quite possibly have set yourself up for a problem at time of appraisal if you manage to get a contract for sale.  It's a funky little calculation but many times appraisers are asked about market condition, average days on market, etc. and if the subject property has been on the market far longer than the comps, there is a value reduction that goes along with that.

Yea, why hire an agent at this point.  Seems you don't need any professional advice and have done quite well on your own.  Good luck. 
  • October 10 2012
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Profile picture for SM Senn
Well thanks, I had no idea how this worked, thought I would get a notice via email that there was answers.  I have had a couple of bites/interest, but working full time and being single sure make it hard to hold on to the irons in the fire.  I plan on learning as I go and hopefully will be successfull.  Agents have told me that it is hard to comp this home, since it is locted on an acre and most acerage in this area has been sold and turned into housing develpments over the last 30 years.  Oh well thanks again.  Oh and I am talking about since 1986 until now, paying the bank/s 500+ a month in interest!  Seriousy!  That is insane, but thats the price we pay for privacy.
  • October 22 2012
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The first thing I recommend doing is sitting down with an experienced Agent and be up front about the fact that you would like to sell the home by owner.  Ask for advice on marketing and advertising strategies as well as how to price the home to attract interest.  Make a deal with that Agent that in exchange for some assistance and coaching you will list it with him or her if you decide to eventually go with an Agent.  Also, if you do sell it yourself then you will reward that Agent's efforts with a strong referral to a friend, family member or co-worker down the road. 

A good Realtor will take you up on that offer and both parties can benefit!
  • October 22 2012
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Exactly as Logan said, a good agent will be your best advocate to get your home sold. Whether it's for a buyers referral commission or a referral to friends and family for their services. My advice would be to get an experienced agent to be up front about what the home will sell for and to ask them for what advice they have for marketing the home. 

I have had FSBO in the past who I have put up signs for and helped them market their home in exchange for a commission if I brought in a buyer. If the owner found someone first then they didn't owe me anything but requested that they use me as a referral down the road.

Good luck!
  • December 10 2013
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Home selling is a complicated process with lots of disclosure requirements on behalf of the seller.  I strongly urge you to contact a professional Realtor in your area for a consultation about your need to sell.  Using a professional Realtor will more than off-set any perceived savings you may create by selling your home directly yourself.  
  • December 10 2013
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Even if you decide to sell on your own consult with an agent.  A great agent will get you more money and spend the money needed to get the max for your home.  Also use a company that advertises around the world and specializes in relocation and it will not cost you a penny.

The biggest mistake is weak advertising, a house being overlooked and not appraising if you do sell if you do not know how to justify your SOLD price.

Be careful of discount agents as you get what you pay for.

Tamara Schuster
Certified Relocation Specialist
West Suburban Chicago
  • December 10 2013
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Profile picture for Beth Drake
Statistics show that FSBO usually get less for their house than having a realtor involved.  Talk to a local realtor. 
  • December 10 2013
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