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Using Trulia in Lexington : Real Estate Advice

  • All83
  • Local Info8
  • Home Buying23
  • Home Selling3
  • Market Conditions7

Activity 2
Sat Oct 11, 2008
Keith Sorem answered:
Thank you for posting this question. The great news is that you can post your home here. The bad news is that you need to list it with a Realtor.

Your main goal is to sell you home for the highest price ( or trade it). You might want to check out the link below with the latest market data.

The truth is that if you need to sell, and need to get the most money, then the only way for most people is to hire a Realtor. You may be able to sell it yourself , or conduct a trade, however know that 85% of people that start off like you eventually list their home with a Realtor.

I have a couple of suggestions that might help you.
1. Interview a few Realtors, compare their proposals. If Plan A does not work out, then you can fall back to Plan B right away. If you would like me to refer a top Realtor in your area, I would be happy to do that, no obligation or cost on your part.
2. Know that homes sold by owners like you on average sell for 16% less than those sold by Realtors. That makes sense because owners like you sell to someone they know 5% of the time, someone they don't know 5% of the time, and 85% of the time they list. So if you are only dealing with 10% of the market, that makes sense.
3. Know that just like when you bought your home, buyers see the home they purchase first with a Realtor 90% of the time. So your real market is the Realtors. You could opt for an MLS Entry ONly broker. They usually charge a flat fee to list your home, then you have to pay the buyer's agent, so you are trying to save a few percentage points. Unfortunately I track the performance of these brokers and it is not pretty.

Most listings taken do not sell, and they make up a very small portion of the market. In my MLS last quarter they had 45 listings, only 15 sold. Full service Realtors had 1800 listings and sold 1031.

Full service brokers also sold at a higher list price to sale price ratio (2-3% higher), sold in fewer days, and most listings sold.

Think about it. If you need any help just let me know.
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Tue Nov 20, 2007
Emily Erekuff answered:
Hi Carole,

Can you add a post here to reference the listing and map you are talking about? We would very much like to investigate this issue.

Thank you,

Emily Gibson
Customer Service Representative ... more
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