Home Selling in Dunellen>Question Details

Toni, Home Seller in New Jersey

Selling a house FSBO in Dunellen???

Asked by Toni, New Jersey Tue Mar 4, 2008

Just listed my home on FSBO.com and on MLS w/2.5%. Wanted to be able to drop the price as low as possible and couldn't do that for a 5-6% commission. Will realtors show the property ar shy away? Any local advertising suggestions?

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Dunellen is a very hot area due to the fact, it has NYC train station. How far from your home to the train station, is it walk able?

I saw many properties sold recently that is near Dunellen Train Station as you can click to see ... http://cnj.craigslist.org/search/rfs?query=stn+just+sold+dun… and more can be found here ... http://newjersey.craigslist.org/search/rfs?query=stn+just+so…

I think you want to call your listing agent back, and see if you can change the MLS listing, just increase your listing price for another 3.5%, and put a fair commission at 6% with the clause that listing agent get 2%, and selling agent get 4%.

Once you got that 4%, you will be surprised that over 5,000 realtors in Middlesex County will eager to bring their buyers to your home. Most realtors would not admit, but I got to tell you, from my research result, every realtor, especially realtors specialized with buyers, i.e. selling agents, they care nothing more than that 4% commission.

On the other hand, which employee does not care about their salary? or wage? Any IT professionals, you pay him $5 more per hour, they will quit their current job and jump ship. So, knowing the very fundermental of the business, you know 2.5% is not easy.

You can, of course, put a clause that if YOU find the buyer directly, then you will still give listing agent 2% to do all the paper work and provide all the professional services you deserve, and you shall pass that 4% to your direct buyer, or, maybe keep 2% in your pocket. You shall have the flexibility to work on.

Your listing shall be very happy to work with you since you not only will give him or her 2% no matter who bring the buyer, and s/he may even obtain all 6% if s/he is able to find a matched buyer, so your listing agent will spend good effort to hold open house for you.

You shall also tell the listing agent that if you found a buyer yourself, you would not only give him or her 2% as they may also spend some marketing cost and effort, you shall also refer ALL other buyers who did not buy your home to the listing agent so that s/he would be able to help them too.

I have not encountered any realtor who does not want referrals; many even put the sentense "your referral is my best reward or appraise ...etc" something like that.

Given the collapsed mortgage rate, housing price is not that important, at least, it is NOT as important to find a "matched buyer". When I say a "matched buyer", I mean a buyer would love your home, and may be the convenience of the train station, and may be the good school ...etc.

e.g. 1616 Raspberry Ct Edison NJ 08817 just sold at $196,000 that is about as high as the highest 1br condo sold in the community Edison Hollow South http://raspberryct.blogspot.com/ in past few years. The highest 1br 1ba condo I know closed at $199,900 and dozens 1br closed between $190k to $199k.

If you are move up seller, looking to buy bigger homes to move up, your agent should be even happier to see your home sold, whether thru her buyer or direct buyers.

You did not mention your listing price, but I found only ONE listing at fsbo.com with Dunellen address http://www.fsbo.com/102882?search=TRUE&state=NJ&sear… for $410,000. If this is your house, your prospective buyers are very likely to be First Time Buyers. Due to the fact, the jumbo loan limit start on $417,000, many first time buyers tend to limit their borrow amount under that, but, anyway, yours can be reached by first time buyers.

This is good to you because you do not need to wait till your buyer to sell their current home before buying yours, and your buyers are plenty of them, and each 1st and 15th, the rental office sent out lease expiratioin notice and rent hike info that trigger many matured tenants go out to buy home like yours.

If that's your house, that's great! it seems to be very convenient right next to Rt 22 and near Dunellen Train Station as you can see ... http://maps.google.com/maps?f=d&hl=en&geocode=&s…

It is also very close to Asian Food Center http://maps.google.com/maps?f=d&hl=en&geocode=&s… that many Chinese from New York City would love it.

Another popular media in the area is Craigslist.org http://cnj.craigslist.org/search/rfs?query=dunellen&minA… which I see few listings for sale, but somewhere in your description you need to include "near NYC train station" to pop up
1 vote Thank Flag Link Wed Mar 5, 2008
you will get some showing from Realtors. you are still limiting your market exposure and that can adversely impact your sellling price.
1 vote Thank Flag Link Fri Mar 7, 2008
Deborah Madey, Real Estate Pro in Red Bank, NJ
MVP'08
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One more thing is that For Sale By Owner website will "stamp on date" on your photos and their "For Sale By Owner" logos, after that, it can not be posted at craigslist.org where you got hundreds of thousands of buyers there... too bad!

Why there are hundreds of thousands of buyers in craigslist? Because city-data.com sent them there ... City-Data.com is a relocation network that has hundreds of thousands of buyers relocate from out of state to New Jersey ...
Web Reference: http://city-data.com
1 vote Thank Flag Link Thu Mar 6, 2008
Well to be honest you have not saved yourself 2.5%. Buyers that buy FSBO already have in mind that the property is selling at a discount and go in with an offer thinking that way. In this market there are 10 buyers for every 100 homes on the market. FSBO does not pay in this buyers market. It is hard to determine the market value for a realtor let alone the seller. Maybe you do not have it at the correct price.
1 vote Thank Flag Link Thu Mar 6, 2008
Hi Toni,

You might also consider owner financing if your circumstances allow for it... I just added this morning a short post about it on my Trilia blog :

http://www.trulia.com/blog/cathy_chaudemanche/2009/02/should…

Cathy C.
0 votes Thank Flag Link Tue Feb 10, 2009
I think some realtors will show your unit. If you want Chinese buyers, you can place an ads in Sino Monthly ... http://sino-monthly.com/
Web Reference: http://sino-monthly.com/
0 votes Thank Flag Link Thu Mar 6, 2008
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