Zillow Advice: Selling Process - Sale by owner process http://www.zillow.com/advice-thread/Sale-by-owner-process/511666/ Zillow Advice | Zillow Real Estate If you are trying to sell ... http://www.zillow.com/advice-thread/Sale-by-owner-process/511666/ If you are trying to sell your property yourself, you should educate yourself in the process. There are books that will help you and you might also want to work with any "buyer agents' who come with potential buyers. A good buyer agent will understand the disclosures and contracts and will help you get the property sale completed. Sun, 22 Sep 2013 20:57:00 GMT http://www.zillow.com/advice-thread/Sale-by-owner-process/511666/ 2013-09-22T20:57:00Z From my experience on deals ... http://www.zillow.com/advice-thread/Sale-by-owner-process/511666/ From my experience on deals I've seen, the FSBO deals crash because the title company can't get the correct documents. The seller doesn't know what to do. Everyone gets mad and then they hire a broker (not necessarily a Realtor) to get the house sold.<br/> Fri, 20 Sep 2013 16:54:00 GMT http://www.zillow.com/advice-thread/Sale-by-owner-process/511666/ 2013-09-20T16:54:00Z "How long should it take ... http://www.zillow.com/advice-thread/Sale-by-owner-process/511666/ <br/><br/><strong>"How long should it take for the agent to release the ownership?&nbsp; Will she take down the pictures?"<br/><br/></strong>Based on your question above, it would seem that you had your home listed with an agent and are deciding to try selling it yourself. So...to answer the question, the date you canceled your listing agreement is when your agent should release ownership of the listing. However, you may want to give your agent a day to formally remove from the MLS and the various syndication sites. They really shouldn't need much longer. <br/><br/>It is not uncommon to see outdated listings being presented. Sometimes this is an honest oversight and an agent may need reminding. <br/><br/>Regarding the pictures, once you have claimed your listing you can delete or upload photos. Zillow provides help on how this is done. Click <a href="http://www.zillow.com/help/how-to-add-or-remove-photos/">here</a> to edit photos.<br/><br/>All the best. Thu, 19 Sep 2013 21:09:00 GMT http://www.zillow.com/advice-thread/Sale-by-owner-process/511666/ 2013-09-19T21:09:00Z user40883135This is what ... http://www.zillow.com/advice-thread/Sale-by-owner-process/511666/ <strong>user40883135</strong><br/>This is what Zillow was telling people yesterday concerning the 3 digit as opposed to 4 digit code issue...<br/><br/><em>"You may have only heard a 3-digit phone verification code as opposed to a 4-digit phone verification code. The code you are receiving does include the required 4 digits, however, the last digit of the code is slightly delayed. You may hear the code like this:<br/>"1,2,3........4This code is for Zillow advertisers only," with the last digit running into the following sentence. Our developers are working to separate the 4th digit more clearly, but in the meantime, please try our phone verification again."</em> <a href="http://www.zillow.com/advice-thread/Verification-page-doesn%27t-let-me-post-by-listing-The-phone-call-gives-me-a-three-digit-code-and-th/511706/">LINK</a> Wed, 18 Sep 2013 13:47:00 GMT http://www.zillow.com/advice-thread/Sale-by-owner-process/511666/ 2013-09-18T13:47:00Z I follow the link but when ... http://www.zillow.com/advice-thread/Sale-by-owner-process/511666/ I follow the link but when I try to get the verification code I only get three digits.&nbsp; I have done the portion to get ownership of the listing but I don't know if it worked.&nbsp; How long should it take for the agent to release the ownership?&nbsp; Will she take down the pictures?&nbsp; Wed, 18 Sep 2013 13:14:00 GMT http://www.zillow.com/advice-thread/Sale-by-owner-process/511666/ 2013-09-18T13:14:00Z "Studies and surveys indicate ... http://www.zillow.com/advice-thread/Sale-by-owner-process/511666/ <em>"</em><em>Studies and surveys indicate that 90% of ForSaleByOwners end up listing with an agent. More Realtor propoganda?"<br/><br/></em>I would sure appreciate someone sharing what "Studies and surveys" indicate 90%..<br/><br/>I'm only aware of one..a survey done yearly by the National Association of&nbsp; Realtors.<br/><br/>2012 NAR survey..,93,502 questionnaires sent out and 8,501 responses<br/>A 9.1% response rate<br/><em><a href="http://www.stablecommunities.org/sites/all/files/documents/NAR%20Profile%20of%20Home%20Buyers%20and%20Sellers%202012.pdf" rel="nofollow">2012 Profile of Home Buyers &amp; Sellers</a><br/></em>I invite any consumer to read the survey and decide for themselves what value it has<em><br/><br/></em>Even if one were to accept the 90% claim I would still wonder what % of that 90% was made up of FSBO's who paid a Flat Fee ($200-$500) to be listed on their local MLS....<br/>I'm pretty sure those who did so still consider themselves FSBO's despite NAR saying they are not when figuring out their %<em>/</em>statistics<em><br/><br/></em>Anywho...anyone have any other study/survey besides one done by the&nbsp; National Association of Realtors <em></em>that <em>"</em><em><em>indicate that 90% of ForSaleByOwners end up listing with an agent"</em><br/></em>PLEASE share it if ya do...thanks in advance<em><br/><br/><br/></em> Wed, 18 Sep 2013 09:33:00 GMT http://www.zillow.com/advice-thread/Sale-by-owner-process/511666/ 2013-09-18T09:33:00Z You'll need to establish ... http://www.zillow.com/advice-thread/Sale-by-owner-process/511666/ You'll need to establish what forms and disclosures&nbsp;are mandatory for a sale of your property type and situation. Many people mistakenly assume that&nbsp;an escrow company can handle all that. The problem is that the escrow company only knows what forms&nbsp;are required&nbsp;for an escrow. By definition, escrow is a <em>neutral</em> 3rd party who follows the instructions laid out in the purchase agreement, orders reports and collects and disburses funds with an accounting statement. &nbsp;It is the agent who makes sure you are legally covered with the manner in which&nbsp;the purchase agreement is filled out and ensures that the other paperwork is complete and correct as well as that&nbsp;the required 3rd party reports are ordered and are reputable.<br/>&nbsp;<br/>Many people sell homes and never encounter any problems. It only takes one time where the buyer is unhappy after escrow closes and the paperwork is brought out and examined with a fine tooth comb. This sounds like a scare tactic on my part, but&nbsp;the details involved in each form&nbsp;can be&nbsp;insane when you're not used to dealing with them. That's why you&nbsp;see other agents here talking about liability. By virtue of our license, we have liability as the&nbsp;professional in any transaction&nbsp;in which we participate.&nbsp;I have E &amp; O insurance with First Team that has an agent&nbsp;deductible of $10,000 or the commission actually earned on each transaction side we participated in(buyer side, seller side), whichever is greater. From what I hear, attorneys will eat through that whether we win or lose.&nbsp;<br/><br/>You'll also find that most buyers will be hesitant to purchase a home without a&nbsp;Realtor&nbsp;to protect their interests. It's usually the largest purchase a person makes and it doesn't cost the buyer anything&nbsp;for the protection of professional Realtor&nbsp;representation on a listed sale.&nbsp;&nbsp; Your most likely buyers will be agent/brokers, attorneys or investors. These individuals understand the intricacies of&nbsp;drafting a purchase&nbsp;agreement to their benefit and will undoubtedly be negotiating for a discount from the pre-commission price.<br/><br/>As far as marketing, you can&nbsp;Google for sites where you can put your listing and pictures.&nbsp;Neeraj has provided a link to the Zillow form.&nbsp;<br/><br/>Studies and surveys indicate that 90% of ForSaleByOwners end up listing with an agent. More Realtor propoganda? Actually, no. Here's why:<br/><br/>On TV, we see that they fix up and stage a home, then have an open house and it sells. You see signs go up in the neighborhood, see them on your favorite search sites, maybe a newspaper ad, see an open house or 2 and soon, the new owners are moving in. Looks perfectly doable and we fill out forms all the time in everyday life. Why pay commission?<br/><br/>Here's the problem. As soon as an agent gets their license and&nbsp;lists and sells a few homes, they realize that the ads they ran&nbsp;(for hundreds of dollars)&nbsp;never got many calls. The&nbsp;calls they did get resulted in the buyers wanting something different from the advertised home after getting more info.&nbsp; At this point, they understand what the experienced agents in the office and the meetings and training managers&nbsp;meant when they said that advertising is to keep the sellers happy and doesn't sell the home. This&nbsp;fact is so unpopular with sellers that agents will rarely tell them.<br/><br/>Advertising is effective because it attracts buyers that can be sold something, though not necessarily the advertised home.&nbsp; Several years ago, First Team did an extensive study and uncovered some interesting facts. Buyers calling on ads ended up purchasing a home 6 months after the initial call. They purchased a property 20% higher in price than the property called on. This was done on newspaper ads using 800#s and company sales records. <br/><br/>Internet hits are more elusive. The internet is a form of recreation to many and&nbsp;a listed property will receive thousands of hits with no inquiries. These hits come from looky loos, homeowners looking at the market, people looking for decorating ideas, people dreaming of owning someday, people with a flicker of an idea that they may want to buy and people who decide to become serious buyers&nbsp;and are identifying properties to have an agent show them.<br/><br/>Realtors most effective tool is the MLS. In it's most basic sense, the MLS is a help wanted ad from Realtor to Realtor. By the listing agent&nbsp; representing the seller and offering a portion of the negotiated listing commission to any agent who finds and represents a buyer, it ensures the cooperation of hundreds or thousands of state wide Realtors in locating the buyer for any listed property. Only lisitngs offering a specified commission to licensed agents&nbsp;are allowed on the MLS.<br/><br/>With the advent of the internet and sites like Zillow, Trulia, Redfin, Realtor.com and hundreds of other sites, the reach of the MLS is expanded worldwide. Virtually all of these sites get their data directly fed from the MLS and each site features Realtors available to show and sell the properties.<br/><br/>In Laguna Niguel, inventory shortage has created multiple offers and values are rising, though more inventory has been recently coming on the market in the last month or so, which has taken some of the edge off. Multiple offers and prices getting&nbsp;bid up only happens when 2 or more buyers are competing for a property. Limiting your potential buyer pool will limit your chances for getting the best price and terms.<br/><br/>Good luck. Contact me if I can assist you in any way.<br/> Wed, 18 Sep 2013 06:32:00 GMT http://www.zillow.com/advice-thread/Sale-by-owner-process/511666/ 2013-09-18T06:32:00Z Elizabeth Weintraub is a ... http://www.zillow.com/advice-thread/Sale-by-owner-process/511666/ Elizabeth Weintraub is a Realtor &amp; Zillow Forum contributor from California who has written a good article on the Selling Process for About.com that begins with...<br/><br/>"Whether you are selling <a href="http://homebuying.about.com/od/sellingahouse/qt/0307SaleByOwner.htm" rel="nofollow">for sale by owner</a> as a FSBO or hiring a <a href="http://homebuying.about.com/od/realestateagents/qt/0407ListingAgt.htm" rel="nofollow">listing agent</a>, the home selling process is identical. It may vary slightly from state to state, but since California tends to set the standard for much of the country, this format will address how homes are sold in California. <p>The main differences for you may be whether you hire a real estate lawyer and whether buyers submit intent offers prior to executing a <a href="http://homebuying.about.com/od/glossaryp/g/PurchaseContrac.htm" rel="nofollow">purchase contract</a>, but the basic procedures remain the same."</p><p><a href="http://homebuying.about.com/od/sellingahouse/qt/10308_SellPath.htm" rel="nofollow">Home Selling Path A to Z...The Complete Home Selling Process</a></p>Worth checking out imo..<br/><br/>If you're asking about posting your property for sale here at Zillow then the RE Agent Neeraj Jassal was Professional and kind enough to provide a link for you below<br/><br/>Best of luck whatever route you decide to take Tue, 17 Sep 2013 18:16:00 GMT http://www.zillow.com/advice-thread/Sale-by-owner-process/511666/ 2013-09-17T18:16:00Z Agree with Maria. For Sale ... http://www.zillow.com/advice-thread/Sale-by-owner-process/511666/ Agree with Maria. For Sale By Owner means more work for the buyers agent, greater liability (dual agent), more aggravation and less compensation.<br/><br/>There are a few who are completely capable of handling a home sale without assistance.&nbsp; Very few. Tue, 17 Sep 2013 17:34:00 GMT http://www.zillow.com/advice-thread/Sale-by-owner-process/511666/ 2013-09-17T17:34:00Z Most owners do not realize ... http://www.zillow.com/advice-thread/Sale-by-owner-process/511666/ Most owners do not realize the complexities involved in properly presenting and positioning their home to sell and gain the best outcome.&nbsp; In most for sale by owner cases, the buyer's agent winds up handling both sides of the transaction and, possibly, receive minimum reward for all their hard&nbsp;work. Tue, 17 Sep 2013 17:23:00 GMT http://www.zillow.com/advice-thread/Sale-by-owner-process/511666/ 2013-09-17T17:23:00Z