Home Selling in 70785>Question Details

Brennaperkins, Home Seller in Walker, LA

Need help selling in Walker, La. Cant afford to pay a realtor. Help!

Asked by Brennaperkins, Walker, LA Thu Jan 6, 2011

House is 3bedroom/2bath built in 2003. Been on the market FSBO for over 2 months and no showings. We have found the house we want to buy and are stuck. Can't aford to pay a realtor commission and we have lowered the price almost to what we owe. What can we do?

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It sounds like you are doing everything you can on your own so it may be time to talk with a realtor. One thing you may not have thought about... During a buyers market, you are competing with homes not just in your area, but in Baton Rouge, Ascension parish, Central ect. People expand there location radius since they have so much to choose from. So your house may look good for the ones in your neighborhood, but a HUD home down the street looks like a better deal. That's why you need a professional to help you figure out how to get that one buyer that wants your home above all others. Mags 505-8725
Web Reference: http://www.justcallmags.com
0 votes Thank Flag Link Thu Jan 13, 2011
I have it on fsbobr.com, craigslist, la-houses, facebook and also have signs out all over the area. We are offering a home warranty and have lowered our price several times to almost what we owe. Having open houses as well trying to do everything I know to do. Thanks for the advice!
0 votes Thank Flag Link Thu Jan 13, 2011
If you want to sell your home, then offer owner financing. No need for a real estate agent. The home will sell itself and you can get the full asking price.
Web Reference: http://www.tkfunding.com
0 votes Thank Flag Link Wed Jan 12, 2011
Some really great advice has been given. I understand it is tough especially if you have already found a home you want to buy. In this buyer's market, pricing is the key along with marketing. Is it on http://www.fsbobr.com? Have you made a You Tube video?
0 votes Thank Flag Link Fri Jan 7, 2011
You have found out that selling FSBO is tough and doesn't always yield good results. Talk to some local agents and find out if they feel they can get you more. I don't know the statistics, but its been established that homes sold be Realtors go for more than FSBO's. Buyer's use agents, many agents won't show FSBO's for various reasons including the desire to get paid.
If I were in your area I would gladly meet with you, tour your home, conduct some research to find out if what you are hoping to accomplish can happen all for no charge. I'm confident some local agents would be willing to do the same. Best of luck.
0 votes Thank Flag Link Thu Jan 6, 2011
It's a buyers market right now, I know you've heard that and what that means is that FSBO's just aren't going as fast as they used to. A buyer can go with an agent and look at hundreds of homes on the MLS and it doesn't cost them anything so there isn't any real motivation for them to go 'by owner' right now. As you know prices are at rock bottom so the choices they have on the MLS are amazing.

One thing you can do is adjust your price to reflect your 'by owner' status. Buyers are aware of how the system works. Go with an agent and it cost the seller 6% for marketing, finding a buyer, writing and negotiating contracts, coordinating inspections and closings etc. The buyers get how it works, so they are expecting your home to be priced 6% lower than market value. If you aren't priced 6% below market value you aren't going to find a ready, willing and able buyer. I know it's a huge bummer, but most of the sellers out there today are bringing money to the table in order to close a deal and then getting a really great deal on their new house.

Call me if I can help. Mags Rodrigue 225-505-8725
Web Reference: http://www.justcallmags.com
0 votes Thank Flag Link Thu Jan 6, 2011
Hi Brenna,

You can do a short sale. Our short sale services are FREE to homeowners. A short sale is when you sell the property for less than you owe to the bank. We would be happy to explain the process to you. Please call us directly to discuss your specific situation. We look forward to hearing from you.

Eli Givoni, Director
Short Sale Department, LLC
Serving all 50 states
0 votes Thank Flag Link Thu Jan 6, 2011
Have you thought like a realtor and marketed accordingly? Are you on the MLS? Do you have professional flyers and a sign out front? FSBO's can be successful, but you can't just stick a sign out in the yard and hope for the best.
0 votes Thank Flag Link Thu Jan 6, 2011
1. Rent your existing home.

2. Sell your home with existing financing in place (understand the terms of your existing note). This assumes you can qualify for your new home with the existing mortgage in place.

3. Borrow the money (life insurance policy? 401K?) to pay the realtor and closing fees and get the home on the market.

4. There are probably other options too, but with limited information on your specific circumstances there are few options that can be offered.
Web Reference: http://www.phgbrokers.com
0 votes Thank Flag Link Thu Jan 6, 2011
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