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We want to do a sale by owner but need to know about the BI market for lower-end homes.

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November 07 2011 - Bainbridge Island
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Answers (9)

Kmatthee,
Are you still working toward selling your home?  If you'd like assistance, please give me a call 206-387-0439 or email.  I'd like to hear more about your situation to help you sort through your options.  I have been selling homes on Bainbridge Island for 15 years.
 
-Leah Applewhite, Realtor
Coldwell Banker McKenzie
206-387-0439
leah@leahapplewhite.com
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January 05 2012

Find an agent that will do a complimentary market analysis of your home to determine value or pay for an appraisal if this is the route you choose to take. Most agent will do this for FSBO's since they know they will not likely be successful in thier attemp to sell and will call them when they get frustrated. I would recommend against doing a fsbo in a declining markert since what you can sell for today will likely be much less in 6 months. Also, when buyers do buy FSBO's, they purchase under market value in most cases for a variety of reasons. Hire a professional and your chances of selling at a higher price are much more likely. If they don't sell, they don't get paid so you have nothing to lose. Whatever you decide, I wish you good luck!

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November 13 2011
Be careful about the company you list with, some FSBO or entry only companies may have a bad rep with agents in your market area.

In this market a top agent is more valuable than ever, you needs a top notch marketing plan and an agent with actual sales skills involved, you are emotionally attached to the house and it perceived value and that make for poor sales.

Marketing and pricing is everything these days...

Hit some Open Houses and meet some agents in your area.
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November 12 2011
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kmatthee,
FSBO will be difficult for many reasons. First, you will be competing with all the homes listed by agents. You will be invisible to the majority of shoppers who start on MLS fed websites and the buyer's of FSBO's expect to save themselves the commission instead you saving it.
Next, a good agent brings value to a transaction. We don't just earn our commission, we bring our clients a higher bottom line then they would get without us. We know marketing, the market and its regular changes, financing, real estate law, best practices and we are undergoing continuous upgrades in training and technology.
Let me be the first to say that not all agents are good ones. Like any profession we have some good, some great and many who aren't successful for themselves or their clients.
My suggestion is don't decide either FSBO or listing unless you have met with some of the best agents on Bainbridge Island. Listen to what they have to say and consider it. In a declining market, time is money and it may cost you much more to "try for a while on your own" than you hope to save.



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November 12 2011
Agree with the rest. If you are unsure of your market conditions then you should look in to hiring a pro. A Professional agent will help you in more ways than you can imagine, from staging & prepping a home to getting the buzz with other agents/buyers. A real professional agent is worth every dollar you pay them. Just interview a few agents and see who you like. Do not just use your friend because you have known her your whole life. Get a real pro.  Also, you will end up paying 3% to the buyers agent more likely than not.

Best of luck. If you need some help drop me an email. 

Regards.

Vikram
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November 10 2011
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Here are some excellent blog posts (non-commercial) by a frequent contributor to Zillow advice on FSBO.

Posting your FSBO on Zillow 101

Thinking about FSBO?



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November 09 2011
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Because you lose 6%?
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November 09 2011
Since you are indicating that you do not know the market and need information on it, I strongly recommend hiring a local agent to assist you.  It is not an easy time to sell homes, especially by owner.
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November 07 2011
Why would you choose not to hire a professional to sell your home?
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November 07 2011
 
Related Questions
We want to do a sale by owner but need to know about the BI market for lower-end homes.
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