Beverly Samp…, Home Seller in West Virginia

Hi, I am trying to come up with a price for my niece's property, she is getting ready to do a FSBO?

Asked by Beverly Sampson, West Virginia Thu Jan 8, 2009

Where do I go on your web-site to do this?

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Hey Everyone, I had to delete my previous answer and re-post it because I added links before I was not suppose to.

I wanted to also say that when I sold my own townhouse without a realtor, it was to my neighbors friend. I put the word out that I wanted to sell in 1 year, he approached me and said he was interested. We kept in touch and in one year, I sold. We both had our individual attorney.
I am selling again but this time through marketing. Good Luck to all of us.
Zillows comps are very general and are only based through the specifice county's property information.

Further they do not differentiate;
1.) key locations which will add to your property value. EX: waterfront, Golf course, Popular high rise.
2.) older homes which have had improvements that will increase current value.
But, you can look through current listings with the same square feet as your home as well as age rooms, baths, etc. You can also find homes at the county website the home is in and check simular homes that have sold.

Next you have to consider marketing the house.

Zillow does offer an advertising space and lets you pick your zip codes for marketing. but you have to have a link for your ad. good news is and can be your ad link. news print is $$$ and how many people read the news paper today? Its tough.EXAMPLE:

Notes related to comments left.

NOTE: Closing attorneys are about $3,000 and well worth it.
SELLING POINT: Some buyers need guidance and they are not sure they can buy on their own.
May I suggest you creat a booklet like realtors do and include a list of the following:
1) Closing attorneys ( none you know personally)
2.) Home inspectors
3.) Mortgage broker
4.) Your flyer with your name and contact number.

Hand this booklet out to every buyer you show the home to. Before they leave tell them what is in the booklet then ask them if they liked the home, if they have any questions and if they say" I want to look at other homes", tell them you will call them within a few days for further imput. If they say ,we will call you, then you can't call them.

Don't price your home to high but it is the nature of all buyers to offer a lower price.

The Worst! This market has many many people who think that times are desperate for everyone.
Don't let them see the whites of your eyes!

Here is some info that does not pertain to your question but it may be helpful to your next question.
We have been researching different sites to list our houses ( moms) without an agent and found many sites but the following are a good start. ,,
Just recently I found a FSBO company which will get my home listed on the MANY MLS Florida listings and it reads you will have to offer a buyers agent a commission. I found them by looking through in my zip code and price range and then in my neighborhood. This will also give you an idea about the asking price range also.
In between it cannot hurt to interview several Realtors (3) with their opinion to your homes price.

Selling your own home is a BIG job and if you decide to hire a Realtor remember their marketing is key.
Any realtor who puts an ad in the homesandland magazine is a winner to me and my family!
We did not pick the best Realtor for us last time due to our lack of experience. Is their direct cell number added on the sign or does the buyer have to go through the 800 # long process in order to get help. The Realtor who had our listing told us not to talk to anyone, but yet they were hard to get in touch with.
Then there was the agents assistant-They took calls but we had to wait 3 days in order for them to call us back. Even picking the right Realtor for a sellers situation takes research.....jez
Selling ones own home does take alot and then some.

I'm off to search for help on my own question.

Happy Selling!
PS sorry for the previous spam.
1 vote Thank Flag Link Mon Jan 26, 2009
I would suggest your niece contact a local Realtor. I am one, and would be happy to talk to her if her house is in my part of West Virginia. You could tell your niece to interview a couple of Realtors in the area. Have them prepare a comparative market analysis and give her a suggested list price. If she doesn't feel at ease with any of them, she can list the hosue herself and should have a pretty good idea of what the price should be.
0 votes Thank Flag Link Tue Feb 10, 2009
A couple of things for you to share with your niece.
If her goal is to sell for the highest price, then she needs to consider the best way to sell her home.
The National Association of REaltors conducts polls of home sellers.
5% sell to someone they know, 5% to someone they don't know
85% list with a Realtor
Properties sold by Realtors average 16% higher sale price.

So she might be able to sell on her own. However, she may not. So my suggestion would be to have her interview a few REaltors, compare their proposals, then if she needs to move to plan B, she'll be all set to go.
0 votes Thank Flag Link Sat Jan 10, 2009
Keith Sorem, Real Estate Pro in Glendale, CA

Our recommendation is to consider using online services to generate information about similar homes that have recently sold. Try visiting Zestimates can be off but the supportive information comes directly from tax records and ias generally accurate.

This should point you in the right direction.

Good luck
0 votes Thank Flag Link Thu Jan 8, 2009
In order to comp a home is based on what has sold in past 6 months in MLS. This is offical site used by realtors and appraiser. OPTIONS either contact a realtor or an appraiser.

Keep in mind you have to follow state laws in order to sale a property whether it is FSBO or realtor. If you dont comply with state law you can be sued there are many seasoned veterans aware of laws who search for FSBO".s

Most homes that are FSBO are on market much longer and finally listed with realtor .
Web Reference:
0 votes Thank Flag Link Thu Jan 8, 2009
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