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I am going to list my house for sale in the next 2 weeks. I am going to try it by owner at first an

  • September 15 2012 - South Side
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Answers (11)

Thanks Dunes.
  • September 17 2012
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Profile picture for Dunes ..
Christopher

I don't even need to figure out if I agree or disagree lol....
That was a well thought out and Professionally expressed response imo
Thumbs up!...Best Answer material IMHO
  • September 17 2012
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Get an appraisal done on the home it will be the easiest way to come up with market value, and it will also help you handle negotiations with the end buyer you sell it to (and make sure you are not overpriced or too under-priced). Follow that up with a home warranty plan (they are cheap) and you have some powerful marketing items.

Or the other option would be to work with a "flat fee brokerage". They only charge less than $1,000 to put it on the MLS if that. Some of the problems I see with these are they take horrible pictures, tend to price the home at whatever the seller wants instead of true value, and don't really negotiate hard for you due to the compensation. I see it time and time again. The only statistics I believe in are what I can see with my own two eyes. Flat fee brokers can work for certain homes, but that is a decision you will have to make. You will need to pay a broker comp however and that may not be something you are interested at this time.

I tend to agree that 2 weeks is a little unrealistic. It is hard enough for a realtor to get something within that time frame, and I think if you go FSBO you are looking for a very specific buyer and it just takes time. I would think more like 3 months honestly for a FSBO. If this is what you want then you really need to give it full effort. Don't expect to save a ton of money on realtor commissions if you don't put 100% into it.

If you can provide seller financing that is where I see the highest success rate with FSBO's, because there are a tremendous amount of buyers looking for lease options and contract for deeds right now. They hang out on Craigslist, and besides the usual online marketing it is a powerful tool for you. That and making sure you have signage and brochures on the property so people can find you. Depending on if you are on a busy road where you get a lot of traffic, or you need to add more signs to get buyers to the house is something that should be determined.

But every home has its own story and the best way to market it. My best advice is remember the reasons why you bought this home, and understand that you want to find a buyer that is a clone of yourself. They value the same features as you and thus will pay the most. Some homes appeal to the masses, while others are more buyer specific.

Everything you do should be highlighting those features of the home that make it desirable, and try to eliminate the objections you see with the home upfront. 

That is marketing real estate in a nutshell. You need to have more features than objections so buyers mentally pull the trigger. Get them on your side in the first 15 seconds through curb appeal and the main floor and they will find reasons mentally to buy the home. Lose them on first impression and it is an uphill battle to bring them back.

Real estate is no different than other things in life. There is nothing wrong with the DIY approach. The only difference is there are thousands of dollars at stake. Take it seriously and give it your best shot.

And of course Good Luck!

~Chris
  • September 17 2012
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Profile picture for Dunes ..
What research Elvina?.
The National Association of Realtors research?
The Profile of Homebuyers and Sellers annual "Survey" which has a less than 8% return rate?



  • September 17 2012
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Hire professional. Would you consider pulling your tooth (if you needed to) instead of going to a dentist? Research shows that on average FSBOs sell their houses on average at 14% less than they could working with an agent.
Elvina.
  • September 17 2012
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Details: sq ft, lot size, room measurements, age, roof type, school district.
Determine Price
Stage:  Clean, Straighten, Organize, Cut lawn 
Picture Pictures Pictures!!!
Advertise: signs, online, papers, post cards, open houses
Qualify Buyers
Schedule showings & appointments
Arrange contracts, earnest $, title, survey, appraisal & closing
Its A Full Time Job
  • September 17 2012
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Hi there.  Make sure you advertise your home for sale in newspaper and other resources but ensure all the facts are accurate.  Measure your house and get accurate square footage or hire an appraiser to do it for you.  The appraiser will also provide you information on how much your home is worth. Find homes for sale in your area and homes sold recently that are comparable to your home to figure out cost per square footage.  Not all homes are alike and prices vary on uniqueness. However, if you live in a subdivision where homes are pretty much cookie cut, then average the cost per sq footage and it will give you a good idea on how much you should price your home.  
  • September 15 2012
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Profile picture for AmandaMack1

The best advise I can give would be to have a Market Analysis done on your home.  This will let you know what the market value of your home is.  You should interview a few Realtors and get one from each - do not be impressed by the one that gives you the highest number...that does not mean that is the best agent.  Your home is only worth what a buyer will pay for it.  Be sure the numbers that the agent is showing you makes since, and that will give you the value of your home.  Good luck on the sale of your home.

  • September 15 2012
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Profile picture for wetdawgs
If you are considering putting your home for sale by owner, may I suggest a careful read of this linked blog from someone who has done it successfully with their own home (after it had been listed by an agent unsuccessfully).

If you plan to do FSBO doing it for only a week or two seems like a waste of time.  

How to price your home?  Homes are not prices per square foot, but are priced on the whole picture.   The square foot price is calculated after the fact.    You will need some comparable sales from your area, and as Texas is a non-disclosure state you will have to tap into agents in your area to get the information.

  • September 15 2012
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Profile picture for user7882635
I am going to list my house for sale in the next 2 weeks.  I am going to try it by owner at first and depending upon how it goes, a week or 2 after that, I might end up putting it in the MLS.  My question is, how do I determine how much per square foot to ask for my home?  It is a garden home, 1704 square feet.  I don't want to ask too much and scare people off but don't want to give it away either.  I live in Corpus Christi, TX 78414.  Thanks in advance for your advice!
  • September 15 2012
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It appears your question was cut short.   Click on "post reply" to complete your thoughts.
  • September 15 2012
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