Home Selling in Decatur>Question Details

Connie Bring…, Home Seller in Montague County, TX

I'd like to sell my house which is out in the country. I'd like to sell it "by owner". Are there any suggestions for how to do that?

Asked by Connie Bringman, Montague County, TX Sun Jun 17, 2012

I live in a very nice hilly area of North Texas which is about 25 minutes North of Decatur, Texas. It is in Montague County and the neighborhood is called Silver Lakes. It is near Amon Carter Lake and the Grasslands. Most people in the neighborhood have between 2 and 15 acres and it is teeming with deer and turkey. How would you market this nice home?

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Since I am a realtor I would like to give you something to think about you might get lucky and save 6%, but you have to do all the showings weed through the flakes and tire kickers. It will take up a lot of your time, not to mention most realtors including myself only show properties to prequalified buyers and most are ready to buy most who view for sale by owner can't even buy you have to weed that out.
1 vote Thank Flag Link Thu Jun 12, 2014
Price very very very aggressively. You will need to overcome the risks to the buyer of buying a FSBO and also the smaller pool of buyers who will look at or buy FSBOs, and their thought processes. Put an attractive sign in the yard, follow up with buyers, get an attorney ready to draw your contract, look for online sites to advertise, etc. It's a lot of work but you can do it. Just realize most FSBO are thinking they are going to take 6-8% of the sales price off since you are not paying a realtor to assist you, so you need to practice your negotiating skills to make them understand why you discounted the price to start....but that you did this to attract more buyers.
0 votes Thank Flag Link Mon Jun 18, 2012
Bruce Lynn, Real Estate Pro in Coppell, TX
You can stick a sign by the road "for Sale by Owner" and hope that the right person drives by and sees it.
You will save a lot of money this way.
0 votes Thank Flag Link Mon Jun 18, 2012
Many years ago, I might have suggested that it's not a bad idea to try to market your home yourself. However, the legal risks by not disclosing properly and using all the required forms are just too high. I doubt the savings you might realize would cover your fines and monies lost while you might be in jail.

Good luck!
Barbara Coker
Licensed Mortgage Loan Officer
100% Home Loans All Over Texas For 30 Years!
Web Reference: http://www.thecokerteam.com
0 votes Thank Flag Link Mon Jun 18, 2012
Hi Connie,
I am an agent in Decatur BUT I have sold properties in Silver Lakes. It IS a gorgeous area but takes a very specific buyer for that area because of the remote location. I also list property on the Chico side of Lake Bridgeport which has the same problem with only appealing to a very small group of buyers.

With the buyer pool being as low as it is right now, IF you are going to try & do it yourself OR whether you decide to use a Realtor, PRICING IT RIGHT IS THE KEY! Also, do a look around your place. Check to make sure there are no small jobs in the way of maintenance that need to be done. Remember, anything that YOU see that you know needs to be addressed, a buyer will pick up on even faster & then will start wondering what else needs to be done. That translates into chipping away at your price.

One more thing to remember, even if you do not use a Realtor, there are still certain disclosures that you must give a potential buyer at the time they look at your house. You are still bound by law to these items. That is probably the MOST important reason you should have a Realtor working for you and YES, in this market, most Realtors will negotiate their commission IF the need arises. Like Chris said, you would use a professional for anyother service you may need, why NOT use a Realtor to protect you and advise you on selling the most important asset you probably have.... your property?
Give me a call if you want some help.
0 votes Thank Flag Link Sun Jun 17, 2012
Best advice I can give you is to get an agent an negotiate the commission. When you hire an agent you have the potential of over 17000 real estate professionals looking at your property to show their clients. When you do it yourself you have only the people that pass by you house calling.

You don't do your own dental work when you get a tooth plfilled, you don't own a seat on a stock exchange to buy FB stock, so why wouldnt use a pro to sell your house.

Chris Hutchinson
Chris Hutchinson Real Estate
The Michael Group
0 votes Thank Flag Link Sun Jun 17, 2012
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