Home Selling in Hutchinson>Question Details

Victorkeeptr…, Home Owner in Kansas

How to price home ready for sale, if selling by owner?

Asked by Victorkeeptrying, Kansas Wed Jul 20, 2011

Would like to sell home by owner. Tried zillow, and priced $5,000 below zillow's estimate, after one month, no offer to buy. Had traffic, people liked the house, but no offers.

Help the community by answering this question:


Hi, Online valuation sites aren't the best way to price a home, unfortuntaely they are not very accurate. The best way to determine a price range for your home is to look at what comparable homes have sold for in your immediate area within the past 3-6 months. there is no way to determine exact pricing because the home is only worth what a buyer is willing to pay for it. Keep in min, along with pricing a strong marketing plan is crucial. You need to understand how and where buyers search, once you do you can effectively market to them.

Christopher Pagli
Licensed Associate Broker
Accredited Buyer Representative
GREEN Designated Agent
William Raveis Legends Realty Group
1 vote Thank Flag Link Wed Dec 7, 2011
A shortage of showings or lack of offers is an indication of a pricing issue. You've been on the market for 30 days, time to make a reduction in your price.

Price is critical but the right price needs to be combined with exposure so that you get the message out. Over 90% of buyers earch online so your home should be aggressively positioned to reach online buyers. And bear in mind that the majority of buyers still use real estate agents, so even if you prefer not using the service of a lisitng agent at this point, suggest you cooperate with agents on the buy side.

Good luck to you,
Jeanne Feenick
Unwavering Commitment to Service, Unsurpassed Results
1 vote Thank Flag Link Wed Dec 7, 2011
How are you marketing the home? One of the biggest advantages of using a Realtor is their ability to mass market, and utilize the MLS system to push more buyers to your property. You may find that the money you are losing by not having a good marketing campaign may pay for the Realtor involved.
0 votes Thank Flag Link Mon Apr 23, 2012
You're trying to sell it yourself,
without the help of professionals,

as Dr. Phil would say;
"How's that working for you?"
0 votes Thank Flag Link Wed Dec 7, 2011
I say the following with no disrepect intended. If you think you are savvy enough to handle a FSBO and not need the services of a realtor, then you shouldn't be on here asking realtors what to do. 90% of FSBO sellers end up listing with a realtor after a few months for this exact reason.
0 votes Thank Flag Link Wed Dec 7, 2011
It is difficult selling by owner for several reasons. Making a list of questions for prospective buyers will help keep those "just looking" "not ready to buy" from wasting your time -careful though, you never know when that new owner is coming to visit.
Next, realtors can sabottage your sale. They would rather not make any money, than make a sale sharing the commission with another realtor, or with the homeowner. Also, one trick going on now is that the realtor is the buyer thru someone else, they make a very low offer, then, if you are anxious to sell, they will turn around and re-sell the property for a higher price. You would think with the current market this practice would not be popular, but it is.
Just read, read, read, and then read some more. The internet is great for finding information not only as a seller, but read the advise given to buyers so you know what to expect from your buyer. Also, sellers are viewed as "the bad people" when you read advise for the buyers, so that will help you know when to contact an attorney, for example. Pay attention to details. Don't let realtors tell you how much to settle for, how long to sign the contract for, read the fine print and then sign the contract for how long you decide. The price can be tricky since homeowners have sentimental value attached to the house -realtors don't.
All of the above come from experience for being loyal to a realtor, not listening to the realtor at the right time, believing everything I heard, waiting for the realtor to contact me when the contract said "24 hours" and the time past then lost the sale -the buyer was told I "could not be reached"; and on, and on, on...
Depending on your location, if the house is high value, mostly they are sold by realtors.
0 votes Thank Flag Link Wed Dec 7, 2011
I agree with Gerard, Zillow isn't the best price indicator. You may want to call up an agent in your area and have them help you with pricing. Let the agent know upfront you are trying to sell the home yourself and if you aren't able to do so then you can list your home with that particular agent. Keep in mind that 98% of ALL for sale by owners end up listing with a Realtor, so you may want to contact a Realtor just in case. Hope this helps.
0 votes Thank Flag Link Wed Jul 20, 2011
Zillow is not the best place to decide what the price of your home is! Zillow does not take different areas and break down their pricing for that area, so very low priced areas are mixed with the rest causing them to price low. If you you are trying to save money, then under price your home, you may in fact be costing yourself way more than you would have saved in selling with a Realtor! A Realtor will give you the best possible fair market Value and well were earn our money, both in how to price, to market, and to take care of all the legal requirements. we weed out the countless amount of curiosity seekers which will call you all hours of the day and night, and will show the home only to people that prove they can actually buy a home at this time! Really think about this before you take on the sale of the home yourself! But in any case Good Luck!
0 votes Thank Flag Link Wed Jul 20, 2011
You are trying to save money by not calling a Realtor,
and its not working out very well for you.
I guess maybe you should try something else.

good luck and may God bless
0 votes Thank Flag Link Wed Jul 20, 2011
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