I'm thinking of selling my home for Sale By Owner. But I would like to pay someone a 1x fee to list it on all the For Sale sites.

Asked by Anti, Brigantine, NJ Wed Oct 20, 2010

I am not in a rush to sell but I would like to have the home listed. I don't want the constant pressure to keep lowering my price, so therefore I would like to do it on my own. Is there a service that would get my home on all the home sales listings? Can a realtor do it on the side?

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12
Chad Carlson, Agent, South Haven, MN
Fri Oct 22, 2010
Anti, a couple things to consider, 1st Do you have the disposition of a sales person? Are your feelings hurt by hearing No? A buyer will either be over truthful in order to beat you up on price or he will be "Minnesota Nice ya know" and not tell you what they realy think of your home as they get back in thier car and say "what kind of drugs are they on?" So it maybe good to have a neutral 3rd party involved.

You also need to think about the security side. Lets face it not all people are nice, so fine you are you packing heat, But Realestate agents are a dime a dozen.ie Expendable.jk

Then we have advertising, I dont even want to talk about it.

Next think about the Cost "holy crap you want 7%" yep. The moral of this story is that statistics show that fsbo homes sell for less than those listed by an agent. A good agent will put the same amount of money in your pocket ( or more) than if you were selling it yourself. So unless you just have all the time in the world or have always wanted to say "I sold My Own home!", why subject yourself to all the agony of doing it alone?

Most agents will not be able to do a flat list only option because many have fixed expenses that need to be met. Say "errors and ommision insurance".( If I did just the paper work for you and charged you $1000. Something went wrong we ended up in court, I would have an E&O deductible out of my pocket for $1500. So that is why we have to be "all in" or we just go out of Business.

Just a few random thoughts that escaped.-chad

Either way I wish you the best of luck.
1 vote
Anti, Both Buyer And Seller, Brigantine, NJ
Fri Oct 22, 2010
Thank you all for responding. After reading your responses, I'm actually starting to think twice of FSBO and maybe just reduce my price ( for the 5th time) and keep it listed thru a realtor. Desari...your sarcastic response was useless....
1 vote
Monir Mamoun, Agent, Denville, NJ
Fri Oct 22, 2010
Anti, you said you dropped your price 5 times. Emotionally tough I am sure. Unless you really had very, very little exposure to have to deal with that, it was probably because it was overpriced to start. If you are not keen on hiring a real estate agent, at least do yourself the favor of paying an appraiser three or four hundred bucks to price it.

Keep in mind if it sits around for a year as you deal with the learning curve, you might lose more than by going right to an agent.

Bravo for you at least for reaching out to ask peoples' opinions.
0 votes
Robert Bruno, Agent, Millstone Twp, NJ
Fri Oct 22, 2010
Facts are that realtors sell most of the homes out there for two reasons.

One, buyers don't pay to use the services of a professional, so they go right to a realtor.

Second, realtors advertise many homes, not just one and the chances of selling one home are slim, a needle in a haystack. All the buyers who want to buy now, are at the realtors. The MLS gives you a pool of all buyers out there. The buyer may have come in to a different office looking at a different listing. Then, the agent shows them your home and, it gets sold.

In summary, realtors have more listings and more buyers and are pros in selling homes that close. We handle the financing, the appraisal, coordinate comparable sales with both the lender and the appraiser, work with attorneys on title problems and negotiate and coordinate all facets of each transaction. We make the sale after the sale to reassure nervous buyers when they want to cancel. Can an owner really do all of this effectively?
0 votes
Jeanne Feeni…, Agent, Basking Ridge, NJ
Fri Oct 22, 2010
No, an agent can't do it on the side. An agent can only be paid through their broker. You can hire a limited service firm to get access to the MLS, but you are doing the work - that's what selling on your own is all about.

The "I'm not in any hurry to sell" is a common view - I'd say not to put your home on the market at all if you are not serious about selling it. It's a hassle to sell, you'll need to provide access and keep your home tidy - it is an interruption to life that doesn't make any sense unless you are serious and motivated.

Regarding price, if you do not price your home correctly, it will NOT sell, period. You are wise to get it right from the get-go, but if you miss the mark then you should correct the price as quickly and as often as necessary to get the job done. The longer you are listed, the less you will get. This is a proveable statistical fact.

Good luck to you,
Jeanne Feenick
Unwavering Commitment to Service
Web Reference:  http://www.feenick.com
0 votes
FSBOsuccess, Home Seller, 28590
Thu Oct 21, 2010
Getting your home on the MLS is the most important. Most of them feed onto sites like Trulia. If you are going to go the FSBO route, you honestly need to know that it is going to be a lot of work. If you aren't even going to take the time to market your home, FSBO is not for you. You have to think like a realtor and market it aggressively.

You might need to rethink your strategy IMHO.
0 votes
Joan Braunsc…, , Morris County, NJ
Thu Oct 21, 2010
Here is an excellent blog (almost a book, lol) by a non-agent.
Worth taking the time to read if you are really interested in going FSBO.
http://rockinblu-rockinblu.blogspot.com/
0 votes
Monir Mamoun, Agent, Denville, NJ
Thu Oct 21, 2010
Great Anti, just great. Yes there are listing-only services. I will take your listing on the side through my company on a "non-exclusive" basis for a 4% total listing fee, payable only if I bring you the purchaser. Please contact me by clicking on my name and then the "email" link below it with your full name and contact phone number. You can also call me at 201-486-2974.
0 votes
Jerry Barker, Agent, Atlantic City, NJ
Thu Oct 21, 2010
The market will determine the price of your property, if the realtor advises you to lower your price its not because they want you to walk away from settlement with less money.
Web Reference:  http://www.sjrates.com
0 votes
Desari Jabbar, Agent, Stone Mountain, GA
Wed Oct 20, 2010
So, you don't want the "pressure" of having an agent advising you to consider a price reduction when your home doesn't sell. And you'd rather do it on your own without a real estate professional telling you that your list price is not in line with the fair market value of your property. Good luck.
Web Reference:  http://www.DesariJabbar.com
0 votes
Maggie Hawk, Agent, New Smyrna Beach, FL
Wed Oct 20, 2010
Anti,
It's an either/or decision--Either you sell it For Sale By Owner, and your property's exposure will be limited only to websites where owners try to sell directly to the public, or you list it with a real estate agent who can give your home greater exposure to Buyers, AND agents, both online, and in real estate publications.

You might want to talk to some "limited services" (discount) brokers. A limited services broker who is also a member of a Multiple Listing Service will usually place a sign in your yard, and list your home in the MLS, for a flat fee. You then do the rest of the work--Setting up and conducting showings, holding open houses, and so forth.

Some limited services brokers may offer additional services (possibly posting on a few online real estate websites), each for an additonal charge--a sort of ala carte service, where you pay additional money for each extra service you need.

Keep in mind that any property listed in the MLS will require the offering of a commission to agents who find a Buyer who purchases the property.

Also remember that any good listing agent, whether one offering limited services, or full services, will expect you to price the property in line with the market. And, if your starting price is not getting you any offers, your agent WILL ask you to lower the price until Buyers feel it's in the right range.

Anti, this is not a Seller's market. In the current economy, it takes enormous effort for even a skilled real estate agent to market and sell a home. If you try to do this yourself in a market where prices are still falling, you risk losing the most valuable thing of all--TIME. Do you really want to do that?

Warm regards,
Maggie Hawk, REALTOR
Watson Realty Corp.
0 votes
Brenda Feria, Agent, Richmond, VA
Wed Oct 20, 2010
You could see if their is a Help-u-Sell office near you. There is also another company Option 1 which might be one to look at if you want discount realtors. You might also just contact your local real estate company and see if they have a menu of services that they offer. Some agencies will put the house in MLS and charge a flat fee for doing that. There are wbsites as well. See below:

The truth of the matter is that for sale by owners seldom sell their homes and when they do, oftentimes ther are things overlooked because the seller was not knowledgeable. Some things can come back to haunt you, like Lead Base Paint addendum, Seller disclosures, etc.. That is why hiring an agent is the best way to go.
0 votes
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