Home Selling in 45403>Question Details

.,  in Saddle Brook, NJ


Asked by ., Saddle Brook, NJ Sat Oct 30, 2010

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Trent Warner’s answer
You have to market as a better deal than a short sale or REO. Price is equal or better and the quality is higher. Everybody is looking for a deal. Beat the percieved deal in the marketplace!
0 votes Thank Flag Link Fri Dec 17, 2010
Using a Realtor versus for sale by owner in selling your home
What really helps sell your home? The MLS (multiple listing service). It is a large network of properties for sale through brokers that practically every local Realtor is a member of. Those agents have clients who buy your home. The MLS exposes your home to thousands of potential buyers. When you sell your home yourself you are only exposed to buyers who see your ad in the newspaper, maybe on ads such as Craigslist, and those who drive by your house.

The main reason most people list their house as a For Sale By Owner (FSBO) is because they don't want to pay the broker a real estate commission. But what is entailed in this commission? Realtors provide a wide variety of services to their customers beyond selling the property. Typically a Realtor will list the property in the MLS and several other web sites on the Internet, place an ad in the newspaper or home magazine, send out for sale postcards and e-mails, design a property features flyer, hold an open house, put a for sale sign in the front yard, work with pre-qualified buyers, and negotiate the deal.

Time is of the essence and time means money. A Realtor will help in other ways as well. They can provide a free market analysis on the home which includes comparable homes already sold and homes currently on the market. A homeowner typically prices their home based on what they think their home should be worth. This pricing is based on very little accurate data.

A Realtor will take professional photographs and post them in the MLS. A Realtor will complete all of the necessary state required real estate forms. As a FSBO, do you know what is required and how to get these forms? A Realtor will add the listing to their web site, set up appointments to show the property, answer buyers questions, arrange for home inspections, help resolve issues prior to closing, attend final walk-throughs and lastly, attend the closing. All of these tasks can help sell your home at a higher price and therefore, helping to cut the costs of listing the home yourself.

Many web sites will give you helpful information on selling your house as a FSBO. It certainly works for some people. It largely depends on the market conditions in your area. Do your research before you make a decision on selling as a FSBO or working with a Realtor.
0 votes Thank Flag Link Sun Oct 31, 2010
Price it right from the start. Listen to your agent about pricing and your home will sell fast. Also I think staging a home can really make it stand out among the competition. Consider doing that.
Web Reference: http://MintProperties.net
0 votes Thank Flag Link Sat Oct 30, 2010
Any house will sell at the right price. Priced 15% below market will get you about 90% interest in your property.
0 votes Thank Flag Link Sat Oct 30, 2010
Beware of investor buyers that place signs on street corners saying they will buy any house. Just because they buy the house doesn't mean they will settle with your lender and you still are on the hook with the bank for the shortage amount. Best to deal with local agent, get two or three CMA's and set asking price it 10% less than any closed comp sale in the past year. Assuming you have a short sale or negative equity get the ball rolling with the bank to initiate a short sale package ASAP. Hire a lawyer and work on getting a deed in lieu of foreclosure. Not sure about the rules in your state, but you need legal advise for sure! Get a storage unit and remove alot of stuff, paint the entry corridor, deep clean house and shampoo carpets.
0 votes Thank Flag Link Sat Oct 30, 2010
You also might consider working with an investor. The better the condition that your property is, the more likely you'd probably want to work with an agent; conversely, the worse the condition of it is, the more likely you'd probably want to work with an investor.

Please feel free to send me some info about that property; I might be interested in buying it.
0 votes Thank Flag Link Sat Oct 30, 2010
Shawn is absolutely correct. Add to his suggestions, price the house correctly. At or just below market value. In our area we are still seeing bidding wars when homes are priced this way.
0 votes Thank Flag Link Sat Oct 30, 2010
Your best bet would be to work with a local agent that is reputable. An agent will be able to give you an analysis of current market trends in your area as you will want to price your home to entice as many buyers as possible. An agent will also be able to give you a marketing plan suited to your home, including open houses and online marketing, as many buyers look to the internet as a first resource. Also, I would recommend that you have your property ready to be viewed by the public, which may mean some cleaning, painting, etc. Good luck with selling your home.
0 votes Thank Flag Link Sat Oct 30, 2010
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