Home Selling in 11947>Question Details

Deirdre Zorn, Home Seller in Jamesport, NY

my husband & i are trying to sell our house`on our own. What is the best way?

Asked by Deirdre Zorn, Jamesport, NY Thu Jun 26, 2008

Help the community by answering this question:

Answers

29
I find one of the best ways is to get a flat fee listing. This way you get the exposure of the MLS, and have all of the Realtors bringing you buyers, and you can save thousands on the listing side. For more information visit http://www.LIFlatFeeListing.com
3 votes Thank Flag Link Mon Jul 7, 2008
If you want to sell it yourself go ahead, realize there will be some work but I would like to take on some of the points mentioned as someone that has sold two homes FSBO.

Well, since realtor pros have 90% of the listings, what can you do to attract attention to your home? The MLS and signage - Avail for $500.

Price it below the competition is the only way that makes sense. - Why is this a rationale thought?

Will you be home all day, 7-days a week and able to show your home when buyers want to see it? - Buy a lockbox at Home Depot

Are you writing a how-to book and need the experience? - Plenty of book avail.

Are you looking to fill extra time otherwise not occupied? Yes - It will take some time, what is your time worth to you? Again, I think that for the majority of people a realtor is a good idea, that said most people that had the desire could do it themselves.

Do you like to write ads and marketing materials? - Majority of marketing is on the MLS - you need about three lines of copy. for flyers get a digital camera and use powerpoint or word then go to kinkos and print it on nice paper

Do you like to spend money on an Internet presence to grab attention of the 75% of buyer who start looking on line? - $500 is typically cheaper than 3%

Do you believe buyers will tell you the truth about what they think of your home, you being the owner? - They may or they may not, they also my not tell the truth to the realtor.

Do you like to negotiate with buyers who want you to give them the savings you are getting by not paying a realtor? - In this market you have to negotiate as a seller if there is a realtor involved or not, don't assume that they are going to take that money off the top. Assuming this question is correct, you have to decide where you want your negotiations to start - At 100% of list (w/o a realtor) or 97% of list with a realtor.

Do you like opening your house to strangers for Open House so you can duplicate the effort of getting buyers to see your home? - Is the realtor only going to invite friends and family to an open????

Can you provide financing options for buyers to be sure they are qualified to buy your home? - No but there are about 5,000 website willing and able I would start at bankrate.com. Also, you could go to any mortgage broker and they will provide you with all kinds of marketing material assistance if you allow them to put their info out.

Of all these things, taking less money for your home will likely be the outcome. - Huh?

But I could be wrong. I would like to fix my car but I don't know how. - Difference is I could figure it out but it is not worth my time. Something you need to determine when selling your house.

I tried pulling my own tooth once. Hurt like blazes and bled. - And this is what it takes to become a realtor...

Good luck with doing it yourself though. - I agree.
2 votes Thank Flag Link Mon Jun 30, 2008
Deirdre - if you're still out there...............since this question is 1.5 years old......tell us, .how did you do?
1 vote Thank Flag Link Thu Dec 10, 2009
Dig hole, put up sign and Pray!!!!
1 vote Thank Flag Link Sun Jul 27, 2008
Well, since realtor pros have 90% of the listings, what can you do to attract attention to your home? Price it below the competition is the only way that makes sense. But then, why do you want to sell it yourself? Will you be home all day, 7-days a week and able to show your home when buyers want to see it? Are you writing a how-to book and need the experience? Are you looking to fill extra time otherwise not occupied? Do you like to write ads and marketing materials? Do you like to spend money on an Internet presence to grab attention of the 75% of buyer who start looking on line? Do you believe buyers will tell you the truth about what they think of your home, you being the owner? Do you like to negotiate with buyers who want you to give them the savings you are getting by not paying a realtor? Do you like opening your house to strangers for Open House so you can duplicate the effort of getting buyers to see your home? Can you provide financing options for buyers to be sure they are qualified to buy your home? Of all these things, taking less money for your home will likely be the outcome. But I could be wrong. I would like to fix my car but I don't know how. I tried pulling my own tooth once. Hurt like blazes and bled. Good luck with doing it yourself though.
1 vote Thank Flag Link Fri Jun 27, 2008
Deirdre,

Try researching "Fore Sale By Owner" on the internet. It will provide you with plenty of reading material. You won't have to worry about falling asleep, this information will take care of that....

Good luck,

The "Eckler Team"
1 vote Thank Flag Link Fri Jun 27, 2008
To answer your question (and not try and convince you to use a realtor) it is important that you get it on the MLS. This will be 500 bucks or so. Make up some nice fliers, hold an open, blah blah. 80% of home buyers will look on the MLS for homes, not using a realtor you will probably miss out on that 20% b/c in both FSBO's I have done realtors have been open about not wanting to deal with FSBO. Regardless, if someone sees your home on the MLS and requests your realtor to set up a showing they certainly are not going to say they are not going to do it because it is a FSBO. Also, if they don't have a realtor you have an extra 3% to deal with on the sale price. I do think in many situations it is a good idea to use an agent but if you want to do it yourself, go for it. If you want to be confident about the decision, read the chapter about real estate agents in the nationally acclaimed book Freakenomics.
1 vote Thank Flag Link Fri Jun 27, 2008
There are a lot of threads here on Trulia about that. There are also a number of services out there that will assist you.

The keys are pricing it right, marketing it strongly, and getting it into tip-top condition.

And make sure you have a lawyer.
1 vote Thank Flag Link Thu Jun 26, 2008
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
Contact
Start by focusing on the 3 P's to selling your home - Price, Presentation, and Promotion
0 votes Thank Flag Link Wed Jan 19, 2011
Selling a home is accomplished best by getting the home in front of as many purchasers as possible. The wider the network the house is exposed to, the more potential offers you will be presented with.

One of the strong cases of why real estate agents and agencies sell so many homes is because of the size of the network they have created and continue to work on. Just the internet exposure with the main websites like Realtor.com and the sister sites such as this just keep expanding the sites they feed the listings to.

The best advice is exposure.
0 votes Thank Flag Link Thu Dec 10, 2009
J R

Congratulations!!!!! Good news from a good Agent!

Best to ya and hoping to hear of many more contracts with your J R on them.

That disagreeable Dunes guy ; )
0 votes Thank Flag Link Fri Aug 21, 2009
Thanks, Dunes. good to see you too! Been busy, got another one into contract today! :)
0 votes Thank Flag Link Fri Aug 21, 2009
Is this "They"...2008 NAR Profile of Homebuyers & Sellers?
http://www.realtor.org/press_room/news_releases/2008/11/home…

Which was based on this...
NAR mailed an eight-page questionnaire in August 2008 to a national sample of 133,000 home buyers and sellers who purchased their homes between July 2007 and June 2008, according to county records. It generated 10,053 usable responses; the adjusted response rate was 7.9 percent. All information is characteristic of the 12-month period ending in June 2008 with the exception of income data, which are for 2007. Because of rounding and omissions for space, percentage distributions for some findings may not add up to 100 percent.

"The statistics speak for themselves." sometimes what they are based on speaks
0 votes Thank Flag Link Fri Aug 21, 2009
Who are they Abraham?.............

J R Always a pleasure to see ya around hope all goes well
0 votes Thank Flag Link Fri Aug 21, 2009
I have listed and sold homes in the area you are selling.
The most important thing to do is PRICE it correctly.
0 votes Thank Flag Link Fri Aug 21, 2009
Deirdre,
I wouldn't bother trying to sell it yourself. FSBO's worked back in the hayday, but in todays market you need a REALTOR. They say over 90% of FSBO's eventually sign with a REALTOR. The statistics speak for themselves.

Good Luck!
0 votes Thank Flag Link Wed Aug 19, 2009
Dear Deirdre,

Especially in this market you can try to do excactly -or come as close as possible- to what a Realtor would do for you:

First price the house right.
Compare your home to other homes in the market place which recently sold, incorporating very recent market conditions. Home Sales are part of a public record and are published weekly in the local papers. Our website has important relevant market information at your finger tips: http://www.1townandcountry.com

Next, you have to create exposure to potential buyers.
You can do so by advertising in your local papers, by listing your home whereever you can online (and maybe start your own website). You can even do your own open houses.
Pictures, lots of them, of your home, stress the positives of your property and neighborhood. An overwhelming number of buyers find homes they are interested in online. A yard sign is another important way to make potential buyers aware of your home.

Finally, in case you found a buyer, you will need to be able to talk about your home without any emotion to the buyer, and make sure you do not act or say (or omit) what may come back to haunt you. real estate is a very heavily regulated field, and you need to be aware of all the laws and regulations the Federal, State, and County and Local governments have put in place you may have to comply with.

Once you start taking ito account the time and money you spend, you may re-consider selling on your own. You are at a distinct disadvantage compared to seasoned real estate professionals. First of all, the right realtor will have experience and enthusiasm, and have the time you may not be able to muster. Hisor her experience in pricing is probably the most important decision made for a successful sale. Second, the money Realtors have spent to find buyers is many times larger than what you can spend on the sale of one home. Buyers do not like to waste time and will like the websites best which have as much information available in as little time as possible. Realtors spend hundreds of thousands of dollars just on websites and website marketing. That is also why NAR statistics show that homes listed with a Realtor tend to sell quicklier and at higher prices than homes sold without help of a Realtor.

Finally, it is alwasy harder to negotiate on your behalf than to have a proffessional negotiate on your part. this is why lawyers do not take their own cases, doctors do not treat their own familues, generally. An objective, clearheaded and skilled negotiator will likely be able to make deals close which someone without experience may not. Many buyers also do not like to deal with home owners directly. Not when they are previewing the home (they feel they have to be polite). Not when they are making offers, and when they are negotiating. It may not be imporssible, but again, you limit the number of likely buyers who would successfully purchase your home, when representing yourself.

A wise friend once told me, once you get the feeling you are pushing a cart of stones up a hill that is becoming steeper and steeper, you need to start paying attention to alternative routes.

Let me know if I can help you with any other information on helping you sell your home! Jamesport is a beautiful town and our market has been relatively lucky compared to national conditions. Don't let anyone tell you differently.
Web Reference: http://1townandcountry.com
0 votes Thank Flag Link Wed Aug 19, 2009
In Jamesport, where I work, yard signs are still an effective and inexpensive way to try to sell your house. If after one month you are not getting any offers then you should engage the services of a real estate professional based in the area.
0 votes Thank Flag Link Tue Jul 7, 2009
Hey Deirdre,

The best way to sell a house is to get it into the local MLS. There are some realtors that will, for a flat fee, put it into the MLS. Also, if you're not using a REALTOR(r) then you should at least have a real estate attorney. You need to protect yourself and your assets.
0 votes Thank Flag Link Sun Jul 27, 2008
It is now one month later. What happened?
I was invited in to give my opinion on a home nearby last month and after several attempts to contact the owner- email, voice messages- and not even the courtesy of a "thanks we have decided on something else," they went with ForSaleBy Owner.com. Picking the brains of a few realtors for a price is understandable, but at least respond to their messages. They might have a buyer for you.
0 votes Thank Flag Link Sun Jul 27, 2008
You may want to sell on your own, but after you try for sometime you will realize that the best way to sell your house will be with a licensed Realtor. Most people who try to buy from a "for sale by owner" are looking for a GREAT deal and will most likely under bid you for what your house is really worth. They feel you are trying to save a commission and usually offer way less then you probably would get if you listed it with an agent. Many people try to sell on their own and usually end up listing with a reputable company who will provide you with more exposure than you could ever get on your own. Contact us offlline and we will explain @ longislandrealtors@gmail.com
0 votes Thank Flag Link Sun Jul 27, 2008
Mr Joe Home buyer in Detroit points out how each item that i mentioned in selling yourown home has an answer. The whole process is about numbers. The best price will come from the most pole who see your home. It si not that is can't be done, it is about getting the most people in. You can sell it but will you get the best price? You can buy a lock box for a key but will it be used by licensed agents only or the public? And what records will be kept as to who uses it? What percent of buyers avoid FSBOs? What percent of agents avoid MLS listings? What exactly is being accomplished by selling a home yourself? The implied savings in commission is expected by the buyer, isn't it? For every FSBO sale, what would have been netted by an aggressive marketing plan from a professional? But, try it for a period and you can always list if not satisfied with the results.
0 votes Thank Flag Link Mon Jun 30, 2008
Good Luck !

If there is anything that I have learned in my 40+ years
is that I do not know everything;
nor will I ever.

When I need medical advice I go to a doctor,
when I need legal advice I go to an
attorney, when I have a plumbing problems
I learned not to rely on my husband and
cut my losses by calling the plumber.

If it is a seller's market where you are
then give it shot and try to sell it
yourself but if not use a professional.

There are many books.
Check out the LATimes Real Estate section
they normally rate and suggest books.

If you need a referral for a listing agent let me know
regardelss where
you are in the country.
Web Reference: http://AskNancyG.com/
0 votes Thank Flag Link Mon Jun 30, 2008
I can understand that you and your husband may like to sell your home without the use of a realtor. You should weigh the pros & cons. The first step is to do your homework. Find out how many homes have sold in your neighborhood in the last 6 months. How many have sold with a realtor & for how much & how many have sold without one & for how much. You should also do your research & interview the top realtors. Learn what they can do that you cannot & also what things you may also be able to do. Most realtors like myself that are professional will respect your desire to sell your home on your own. I like to educate all of my clients, they are sure to make better decisions this way. In general, however the statistics are as follow, about 86% of all FSBO do eventually list with a realtor, of the ones that don't about 3/4 judt don,t sell & the remaindor that do sell on their own, sell for 15-20 % less than if they used a realtor, & about 50% of then say that they would not opt to sell on their own a second time around. These are statistics according to a NAR study conducted. Also keep in mind the declining market & the money you lose if your time on the market is wasted.
0 votes Thank Flag Link Thu Jun 26, 2008
Don;t even think about it. To save a 3-5% to 4. 0%, in a mid price range home, commission is hardly worth the candle and super heartache when compared to the expertise that a top broker and a solid realty team can generate in selling you home. But when you choose a broker be very picky and try to get the best local talent you can find. Hold their feet to the fire and demand great advertising, lots of open houses, solid comps, round the clock question answering service and the rest of the nine yards that goes with it. Demand a professional approach and see the difference between that which a pro can generate and a FSBO guy/gal. In most casews the comparison will not even be close. Dump the broker quick if you don't get performance. The FSBO route is a no go solution, in my opinion.
0 votes Thank Flag Link Thu Jun 26, 2008
Hi Deirdre,

Send me your home address at nilda.tejada@coldwellbanker.com and I will be MORE then HAPPY to send you some tips and helpfeul hints. While I do agree with my fellow Realtors that you should hire someone, I understand the need to try and do it yourself. I feel that once you try it and see how much is involved, you will want to get a Realtor. I am here to help you in any way that I can, with no charge to you,and will send you as much as I can. The only thing that I need is your address. And remember, Coldwell Banker M & D Goodlife and I will be there to help you with whatever advice, tips or information that you may need. All free of charge!
Or you can call me at 631-680-0079 and we can start right away to helping you sell you house!
0 votes Thank Flag Link Thu Jun 26, 2008
Hire a licensed professional who MARKETS homes for a living.

There is a reason we are licensed. There is a reason we have to continue educating constantly.

National statistics show that represented sellers gain 21.76% more for their properties than unrepresented sellers.

There are over 26,000 Realtors on the Multiple Listing Service who will be trying to sell your house for you when you are properly listed and represented.

Want more reasons? Give me a call.
Web Reference: http://GailGladstone.com
0 votes Thank Flag Link Thu Jun 26, 2008
Selling a home takes about 100 hours of your time, much money and a lot of effort. It todays market the best way is to give it to a good agent. Good Luck
Web Reference: http://PaulMVPteam.com
0 votes Thank Flag Link Thu Jun 26, 2008
Hi Deirdre,
Threre does not seem to be any better way of selling a home privately without alot of marketing dollars that usually bring very low offers or worse, unqualified ones. You are asking this question of a "Realtor" place, which hopefully, may well be providential for you, since you are here.
Realtors in general have demonstrated a much higher selling price for home owners, by last census, some 12% higher then what the average homeowner was able to get. Even adding in our fees, still put you way ahead of the average for sale by owner, without any fees or work involved, or risk, for that matter.
Look for a professional Realtor who can demonstrate for you, their ability, a strong resume of successful sales, and your level of trust (the touchy feely kind) you have.
Just for the record, you can look up my profile right here on Trulia. The Realtor approach may scare you into believing that you are locked into a long, arduous contract, but that should not be. Today's benchmark of quality Realtors will have a performance guarantee, and rather then upset their clients, take their home off the market, freely, if they don't perform to that standard.
Feel free to email me any questions and concerns you may have using this approach.
0 votes Thank Flag Link Thu Jun 26, 2008
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer