Question Details

Ann, Home Buyer in New Jersey

Does anyone know a good site where I can get realistic information about how much I could get for my home?

Asked by Ann, New Jersey Sun Mar 16, 2008

Also -- where I could find out how long to expect it to stay on the market. Last one - where I can post it for free.

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Answers

2
Ann
Thank you for your question. We see quite a few of these type of questions and I am actually surprised that people do not read the other questions and answers!

Abby gave you a very good answer. I have a few more points I think you should consider:
1. You seem to be thinking that by listing your home on a website for free you will sell your home for the most net profit to you by saving on the cost of commission, right?
2. You can place your home not only on a website, but in the MLS for a flat fee, however you'd have to pay the selling commision. Or you could put it on owners.com or fsbo.com for a fee.

3. Here are some statistics that you should know
Of the people that do try to sell their home on their own, 86% eventually list it with a Realtor
Sellers that do sell without professional representation sell for 16% less that if listed with a Realtor
Why would that be?
The person that sees the home they buy sees it with a Realtor 90% of the time. So selling on your own, you basically exclude 90% or the buyers. The remaining 10% are looking on their own and expect to buy for a cheaper price, and the statistics show that they are able to buy 16% lower.

Why would a buyer opt to use a Realtor? Because the commission is paid by the seller, so from the buyer's perspective, we work for free. If you were a buyer, and could hire a trained negotiator and market expert for free, would you use one?

Lastly, time is money. Homes that sell during the first 30 days of market time sell foir closest to list price.

If one compares full service Realtors to MLS only or limited service, there are a couple of statistics you should know. Homes listed by MLS only brokers fail to sell 30% more of the time, sell for on average 3-4% less, and take more time to sell.

Soi, IMHO, unless you've got time and money to burn, at least TALK with some Realtors. Then you make you best call.
1 vote Thank Flag Link Sun Mar 16, 2008
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
Contact
Hi: Please consult a local Realtor in your community. They will often, at no charge, provide you with a CMA...aka a Comparative Market Analysis. This will cover all of your questions in your current market and you will get a much more accurate representation with a real person who is actively working with homes for sale. The problem with many sites is they cannot compare your home specifically and your home's amenities just by looking at the # of bedrooms, baths, etc. You can get a referral to a local agent easily. Abby
Web Reference: http://www.abbysantos.com
0 votes Thank Flag Link Sun Mar 16, 2008
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