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I need help!!! selling my house myself. tons of? ??
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jburke322
LIF Adolescent
Member since 3/08 663 total posts
Name:
Jessica
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I need help!!! selling my house myself. tons of? ??
We are planning to put our house on the market very soon. My dh wants to sell it ourself bc we really can't afford the realestate fees. How do you go about starting the process. Where can you list your house? Can you list it on the most listings if you don't use a agent? How do you do open houses and people looking at your house? Im just so confused about the process please help
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Posted 3/28/12 10:21 PM  |
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FirstMate
My lil cowboy
Member since 10/10 7790 total posts
Name:
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Re: I need help!!! selling my house myself. tons of? ??
To start, I would email listingbook, zillow, mlsli, etc. and see if they allow you to advertise for sale by owners on their site. They may charge you a fee to do it but at least it will be seen by buyers. You could also advertise on Craigslist and forsalebyowner.com You can also advertise open houses through there.
I will forewarn you that we did that prior to listing with an agent. It was REALLY annoying. Mostly I had realtors pretending to be interested and then trying to get the listing from us. It was very frustrating so be ready for that.
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| Posted 3/28/12 11:32 PM |
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Re: I need help!!! selling my house myself. tons of? ??
If you want to get on MLS, you will need to have an agent list it for you, but there are some broker affiliates of sites like forsalebyowner.com that will do it for a flat fee. But you will also need to offer out compensation to realtors who have buyers to get them to show your house. Most listings offer out at least 2% to an agent who has a buyer. So if you are going to pay a flat listing fee, plus a 2% fee to a selling agent, AND you are going to have all of the hassle and work of doing it yourself, is it worth it? Plus, most buyers (around 90%) work with an agent and the agents work off MLS.
You can't get on Listingbook without being on MLS. I've met with Listingbook executives several times, and it's clear that they pull all of their data from MLS. In fact, many real estate sites derive their info from MLS.
Most people who try to sell themselves wind up eventually listing with a realtor (so basically the only thing they accomplish by trying it on their own is delaying a sale and incurring lots of aggravation for themselves). Those who successfully sell on their own usually wind up selling to someone they already know (a family member or friend), and therefore get less $ b/c it's not a true arms' length transaction. I think the national stat is that sellers who list with a realtor get 16% more than those who sell on their own. So even with the realtor fees, you are still coming out way ahead of the game.
Realtors just have way more marketing tools at their disposal -- plus, if you list with a full-service realtor, they take care of everything. I work with my clients and am accessible to them from the time I take the listing to closing and beyond!
Other considerations, if you decide to go it alone:
1. Access to the house: Do you work? Who will be there to show it? If you limit showing to weekends or certain hours, you are severely diminishing your chances of getting an offer. If people can't see it, they can't buy it (and most give up if they can't get in the first time).
2. Personal safety and security of your home: Are you going to feel safe letting strangers come into your home? For sale by owners are sitting ducks for people with not-so-good intentions. If you have open houses or private showings, make sure you are not home alone, escort people through, put away all valuables first (and clear prescription medications out of bathroom cabinets), and after they leave, make sure all windows and doors are locked and secured. I've heard stories of people who came through pretending to be interested in a for sale by owner's home, left a window open in the back, waited til the people left, and then came into burglarize the home. Often, people work in pairs -- a couple will come look at the home, one will engage you in conversation, and the other will go upstairs to "look at the rooms" but take money, jewelry, etc. If you were home alone and someone knocked on your door and asked to come in (said they were driving by to see the sign), would you let the person in? If it were a group of men, for example?
Plus, a lot of people will make appointments and not show up, and you'll spend your spring and summer weekends sitting around for nothing.
If you haven't done so, why don't you talk to a realtor and see what the options are? I understand why you might think it would be better to sell yourslef, but maybe it is a financial possibility for you to use a realtor, and even if it's not, you can pick the realtor's brain about pricing and marketing. And then if you decide to list down the road, you will have some people in mind to call. Do you know what the market value of your home is? Are you thinking you don't have enough equity to sell it and pay the realtor fees without coming up short?
Feel free to contact me if I can help. I would have no problem sitting down and talking to you about your situation - no pressure or obligation!
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| Posted 3/29/12 9:18 AM |
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chilltocam
LIF Adult
Member since 11/11 9141 total posts
Name:
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Re: I need help!!! selling my house myself. tons of? ??
Posted by Century 21 Dallow - Christine Braun
If you want to get on MLS, you will need to have an agent list it for you, but there are some broker affiliates of sites like forsalebyowner.com that will do it for a flat fee. But you will also need to offer out compensation to realtors who have buyers to get them to show your house. Most listings offer out at least 2% to an agent who has a buyer. So if you are going to pay a flat listing fee, plus a 2% fee to a selling agent, AND you are going to have all of the hassle and work of doing it yourself, is it worth it? Plus, most buyers (around 90%) work with an agent and the agents work off MLS.
You can't get on Listingbook without being on MLS. I've met with Listingbook executives several times, and it's clear that they pull all of their data from MLS. In fact, many real estate sites derive their info from MLS.
Most people who try to sell themselves wind up eventually listing with a realtor (so basically the only thing they accomplish by trying it on their own is delaying a sale and incurring lots of aggravation for themselves). Those who successfully sell on their own usually wind up selling to someone they already know (a family member or friend), and therefore get less $ b/c it's not a true arms' length transaction. I think the national stat is that sellers who list with a realtor get 16% more than those who sell on their own. So even with the realtor fees, you are still coming out way ahead of the game.
Realtors just have way more marketing tools at their disposal -- plus, if you list with a full-service realtor, they take care of everything. I work with my clients and am accessible to them from the time I take the listing to closing and beyond!
Other considerations, if you decide to go it alone:
1. Access to the house: Do you work? Who will be there to show it? If you limit showing to weekends or certain hours, you are severely diminishing your chances of getting an offer. If people can't see it, they can't buy it (and most give up if they can't get in the first time).
2. Personal safety and security of your home: Are you going to feel safe letting strangers come into your home? For sale by owners are sitting ducks for people with not-so-good intentions. If you have open houses or private showings, make sure you are not home alone, escort people through, put away all valuables first (and clear prescription medications out of bathroom cabinets), and after they leave, make sure all windows and doors are locked and secured. I've heard stories of people who came through pretending to be interested in a for sale by owner's home, left a window open in the back, waited til the people left, and then came into burglarize the home. Often, people work in pairs -- a couple will come look at the home, one will engage you in conversation, and the other will go upstairs to "look at the rooms" but take money, jewelry, etc. If you were home alone and someone knocked on your door and asked to come in (said they were driving by to see the sign), would you let the person in? If it were a group of men, for example?
Plus, a lot of people will make appointments and not show up, and you'll spend your spring and summer weekends sitting around for nothing.
If you haven't done so, why don't you talk to a realtor and see what the options are? I understand why you might think it would be better to sell yourslef, but maybe it is a financial possibility for you to use a realtor, and even if it's not, you can pick the realtor's brain about pricing and marketing. And then if you decide to list down the road, you will have some people in mind to call. Do you know what the market value of your home is? Are you thinking you don't have enough equity to sell it and pay the realtor fees without coming up short?
Feel free to contact me if I can help. I would have no problem sitting down and talking to you about your situation - no pressure or obligation!
After trying the FSBO route, I have to agree with everything here. Going with a realtor from the beginning would have been much better.
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| Posted 3/29/12 10:04 AM |
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marianne13
LIF Adolescent
Member since 6/10 887 total posts
Name:
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Re: I need help!!! selling my house myself. tons of? ??
Posted by Century 21 Dallow - Christine Braun
If you want to get on MLS, you will need to have an agent list it for you, but there are some broker affiliates of sites like forsalebyowner.com that will do it for a flat fee. But you will also need to offer out compensation to realtors who have buyers to get them to show your house. Most listings offer out at least 2% to an agent who has a buyer. So if you are going to pay a flat listing fee, plus a 2% fee to a selling agent, AND you are going to have all of the hassle and work of doing it yourself, is it worth it? Plus, most buyers (around 90%) work with an agent and the agents work off MLS.
You can't get on Listingbook without being on MLS. I've met with Listingbook executives several times, and it's clear that they pull all of their data from MLS. In fact, many real estate sites derive their info from MLS.
Most people who try to sell themselves wind up eventually listing with a realtor (so basically the only thing they accomplish by trying it on their own is delaying a sale and incurring lots of aggravation for themselves). Those who successfully sell on their own usually wind up selling to someone they already know (a family member or friend), and therefore get less $ b/c it's not a true arms' length transaction. I think the national stat is that sellers who list with a realtor get 16% more than those who sell on their own. So even with the realtor fees, you are still coming out way ahead of the game.
Realtors just have way more marketing tools at their disposal -- plus, if you list with a full-service realtor, they take care of everything. I work with my clients and am accessible to them from the time I take the listing to closing and beyond!
Other considerations, if you decide to go it alone:
1. Access to the house: Do you work? Who will be there to show it? If you limit showing to weekends or certain hours, you are severely diminishing your chances of getting an offer. If people can't see it, they can't buy it (and most give up if they can't get in the first time).
2. Personal safety and security of your home: Are you going to feel safe letting strangers come into your home? For sale by owners are sitting ducks for people with not-so-good intentions. If you have open houses or private showings, make sure you are not home alone, escort people through, put away all valuables first (and clear prescription medications out of bathroom cabinets), and after they leave, make sure all windows and doors are locked and secured. I've heard stories of people who came through pretending to be interested in a for sale by owner's home, left a window open in the back, waited til the people left, and then came into burglarize the home. Often, people work in pairs -- a couple will come look at the home, one will engage you in conversation, and the other will go upstairs to "look at the rooms" but take money, jewelry, etc. If you were home alone and someone knocked on your door and asked to come in (said they were driving by to see the sign), would you let the person in? If it were a group of men, for example?
Plus, a lot of people will make appointments and not show up, and you'll spend your spring and summer weekends sitting around for nothing.
If you haven't done so, why don't you talk to a realtor and see what the options are? I understand why you might think it would be better to sell yourslef, but maybe it is a financial possibility for you to use a realtor, and even if it's not, you can pick the realtor's brain about pricing and marketing. And then if you decide to list down the road, you will have some people in mind to call. Do you know what the market value of your home is? Are you thinking you don't have enough equity to sell it and pay the realtor fees without coming up short?
Feel free to contact me if I can help. I would have no problem sitting down and talking to you about your situation - no pressure or obligation!
These are great points. Christine, I am just curious as to why FSBOs are targets for people with not good intentions? I mean is it harder for people to leave a window open at a open house where a realtor is present?
To the OP- do you mind saying where your house is located? I'm looking to buy..you never know.
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| Posted 3/29/12 10:05 AM |
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jburke322
LIF Adolescent
Member since 3/08 663 total posts
Name:
Jessica
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Re: I need help!!! selling my house myself. tons of? ??
Thank you everyone for your advice. Im located in Islip Terrace. We have a high ranch which would make a great mother daughter. Fm me if you want more information
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| Posted 3/29/12 10:16 AM |
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Re: I need help!!! selling my house myself. tons of? ??
Posted by marianne13
These are great points. Christine, I am just curious as to why FSBOs are targets for people with not good intentions? I mean is it harder for people to leave a window open at a open house where a realtor is present?
To the OP- do you mind saying where your house is located? I'm looking to buy..you never know.
Because most of the time, you have private showings, and the person who is looking at the house is coming with a licensed realtor, who is escorting them through. And when I work with someone, I meet them at my office first, get their preapproval letter, etc. Showings are scheduled through real estate offices.
At public open houses, in my office we always have 2 agents working, both for the safety of the agents and the security of the home. We escort people through. But also, we sign people in to our open houses (and we reserve the right to see photo ID if we are uncomfortable). People know we are at the open house, we have signs all over, etc.
If someone is selling without a realtor, they have to open their home to people who call them off craig's list or some other internet ad, or a classified newspaper ad, and trust that the person is a legitimate, qualified buyer. Anyone can call on the phone, give a fake name, and gain access to your home where you may or may not be alone. At an open house, you could get a crowd of people that come in and start roaming around your house. When we do open houses, even if there's 2 of us, if there's a crowd, we ask them to wait. If someone won't give me any of their information and won't even show an ID, and has a problem signing the disclosure forms, I don't let them walk through the house. It's that simple - I have to protect my homeowner and myself! I think the presence of a realtor and the procedures/control we have over the situation deters someone who is not legitimately looking. But nevertheless, I always tell my sellers to put valuables and medications away.
Also, I know that I hate to answer the door to a strange person, esp. a man, if I am home alone (or with my 3 year old). I personally would feel odd if someone knocked on my door at 6 pm and said "I was driving by and saw your for sale sign, can I come in?" Because your home is for sale and you want to sell, you'd probably let them. But under other circumstances, you'd probably never let a stranger who appeared on your doorstep into your house, you know?
It's just a great way for criminals to gain access to people and their homes that would otherwise be denied!
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| Posted 3/29/12 12:43 PM |
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Serendipity
Summer!
Member since 4/07 7631 total posts
Name:
PrayingWishingHopingALOT
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Re: I need help!!! selling my house myself. tons of? ??
Posted by Century 21 Dallow - Christine Braun
Posted by marianne13
These are great points. Christine, I am just curious as to why FSBOs are targets for people with not good intentions? I mean is it harder for people to leave a window open at a open house where a realtor is present?
To the OP- do you mind saying where your house is located? I'm looking to buy..you never know.
Because most of the time, you have private showings, and the person who is looking at the house is coming with a licensed realtor, who is escorting them through. And when I work with someone, I meet them at my office first, get their preapproval letter, etc. Showings are scheduled through real estate offices.
At public open houses, in my office we always have 2 agents working, both for the safety of the agents and the security of the home. We escort people through. But also, we sign people in to our open houses (and we reserve the right to see photo ID if we are uncomfortable). People know we are at the open house, we have signs all over, etc.
If someone is selling without a realtor, they have to open their home to people who call them off craig's list or some other internet ad, or a classified newspaper ad, and trust that the person is a legitimate, qualified buyer. Anyone can call on the phone, give a fake name, and gain access to your home where you may or may not be alone. At an open house, you could get a crowd of people that come in and start roaming around your house. When we do open houses, even if there's 2 of us, if there's a crowd, we ask them to wait. If someone won't give me any of their information and won't even show an ID, and has a problem signing the disclosure forms, I don't let them walk through the house. It's that simple - I have to protect my homeowner and myself! I think the presence of a realtor and the procedures/control we have over the situation deters someone who is not legitimately looking. But nevertheless, I always tell my sellers to put valuables and medications away.
Also, I know that I hate to answer the door to a strange person, esp. a man, if I am home alone (or with my 3 year old). I personally would feel odd if someone knocked on my door at 6 pm and said "I was driving by and saw your for sale sign, can I come in?" Because your home is for sale and you want to sell, you'd probably let them. But under other circumstances, you'd probably never let a stranger who appeared on your doorstep into your house, you know?
It's just a great way for criminals to gain access to people and their homes that would otherwise be denied!
ITA with Christine! We tried the FSBO but more by word of mouth...which didnt work. I was very anxious about doing a "true" FSBO for all the reasons she stated. We listed with a realtor instead.
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| Posted 3/29/12 12:53 PM |
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