Home Selling in 07834>Question Details

Paulius Mika…, Home Owner in 07834

What are my odd on selling my house without agent contract in this house market?

Asked by Paulius Mikalainis, 07834 Mon Aug 6, 2012

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In this economy can well understand why you would prefer to sell on your own. My suggestion to you is this, interview a few agents, see what they do to aggressively market your home. Can you compete? If you can, terrific. If you cannot, you will be on the market for a longer time (which usually means lowering your price over time). Then ask yourself and those agents, how many contracts have you negotiated? What training do you have in negotiations? Myself, I learned negotiations sitting across the table from two very powerful NYC unions. Between you and me, which of us do you think might be more successful in negotiating a better selling price and terms? What do you think would happen if I were the agent representing the buyer?

I don't believe it's a question of can you sell on your own, you definitely can. The low number of people who do sell their own homes reflects the time, money and expertise it takes to succeed.

If you want to try anyway, I have conducted For Sale By Owner workshops to help people sell. I'd be happy to meet with you and share some tools at your disposal to give you a better leverage for success.

Wishing you success!
1 vote Thank Flag Link Mon Aug 6, 2012
The strongest measure to consider here is the statistic on selling price when comparing agent-sold vs. homeowner-sold. The average sale price is 15% higher when sold by an agent vs. FSBO. Now, take out the 5-7% you'll pay a decent agent, and you're left with 8-10% more money IN YOUR POCKET. Plus, you will have far fewer frustrations letting a pro handle it rather than trying to figure it out for yourself. Best of luck with your sale, whichever way you go...
1 vote Thank Flag Link Tue Aug 7, 2012
I agree with my fellow Realtors. As always, it is all about exposure. The problem you face is, how to you get the word out about your home to as many prospective Buyers as possible? The properties that are For Sale by Owner (also known as FSBOs) is a smaller percent of the total than in the past.....mainly because it IS a more difficult market.
1 vote Thank Flag Link Tue Aug 7, 2012
Hi- in the current market it will be more difficult.

You should consider the time,money,exposure etc.that would be to your advantage to employ a realtor.

I live in Denville and would be happy to provde you with a market analysy ( no obligation)

All the best,Carolle

1 vote Thank Flag Link Mon Aug 6, 2012
Dear Paulius,

Although Denville has a decent market at this point, you'd have a better advantage being represented by a Realtor, depending, of course, on the agent. Pricing, presentation of the property and marketing are prime factors in a successful sale.

Your most significant disadvantage is not being marketed to the largest pool of buyers, thus minimizing the amount of interested parties. Marketing on your own could cut out that one qualified buyer who may pay more than the buyer you attract independently. Then there is the follow-up work required to take the transaction to a successful close.

Good luck with your decision. If you want to discuss further or are looking for a reliable market analysis on your particular home, feel free to contact me. Denville is one of my primary markets and I've seen most of the inventory listed and sold over the past few years.

Best regards,
"Antoinette" Scognamiglio
Sales Associate
Re/Max Superior Homes
1 vote Thank Flag Link Mon Aug 6, 2012
Chances are less than 10% in a good economy, so imagine how dismal the chances are in the current economy. Couple that with the fact that home sellers, statistically, net more when using a realtor than when selling on their own and it only makes sense to work with a realtor.
1 vote Thank Flag Link Mon Aug 6, 2012
Last time I saw the "stats" for New Jersey it was 1 in 50 (2%) unless you were selling it to a friend or relative. If you want to discuss the pros and cons give me a call at 973-563-9722.
1 vote Thank Flag Link Mon Aug 6, 2012
About 20% 75-80% of homes are sold by Realtors. Why? Exposure, negotiating ability, and network. Even more so stress is less when hiring a professional. Simple but true and statistics don't lie.
0 votes Thank Flag Link Mon Feb 18, 2013
You odds will be much lower than if you hire a pro.

Interview several, look for strong market knowledge, analytic and negotiation skills, and a commitment to online marketing. Ask - no demand (nicely ;-)) proof of individual performance. This is no market for you to operate alone, and it is also no market for you to hire a part timer. I find that the complexities of the market require my full skill set to help my clients, sellers and buyers, achieve success. And those skills have been developed an honed from experience. Work with a full time pro and pick the best one you can find and you will maximize your odds, rather than limit them.

Good luck and best,
Jeanne Feenick
Unwavering Commitment to Service, Unsurpassed Results
0 votes Thank Flag Link Mon Oct 22, 2012
I had a listing in Hanover Township...original owner, went into a nursing home, and had completely updated her little ranch in let's say the 70's. I listed it on a Friday afternoon, for $419,000, sold it at an Open House on Sunday for $408,000. The house next door...same story...original owner, SAME HOUSE...little ranch, original owner, updated maybe a little later...80's???. Before my listing closed...the neighbor went into assisted living. The daughter put a "For Sale By Owner" sign on the front yard. A guy from the sanitation dept. removed the sign and bought the house, for $350,000. SAME HOUSE! My listing was yellow...the FSBO next door was Blue, otherwise absolutely the same, same circumstances, SAME SAME SAME. One blue, one yellow. The blue FSBO sold for $58,000 less than my yellow one...with a full service marketing program. (It's good those sellers didn't have to pay my commission!) You absolutely can sell your house in Denville without me...Denville is selling. But, will you get the best price? Probably not.
0 votes Thank Flag Link Sun Oct 21, 2012
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