Just sold my place. I recommend a realtor. More exposure then selling on your own and most buyers have realtors. Like 90%. A law was just past that says fees are now negotiable, not a standard typical 6%. I would go for 4% which is what I did. If buyers know it's a FSBO, they will in many cases offer 5-6% less or come back to you on inspection with things, this wastes valuable time and keeps it off the market while other buyers find something else, or worse case, your house gets stale. In this market in my area, realtor said if your house is on the market more than two weeks, buyers start to wonder if something is wrong with the house and price has drops.....One more thing, don't go fixing everything before you put it on the market, they are going to comeback to you anyway on inspection and in this market, can't come back with $50K worth of items, it's not a buyers market.
AKB: need info on selling my house without a realtor.
- Thread starter Lion Son/Husband/Father
- Start date
Weird dynamic happened in my Hood in SEPA. Hot market- but seems to be slowing down over last year or so w interest rates.
A neighbor listed at $639,900 w a realtor. Two years earlier an adjacent house had sold at $615k after being listed at $549k in a 3 way bidding war where two people had escalators set up to a limit. That house was all original 1960s inside as the widow who inhabited finally passed so it needed significant upgrades.
Shortly after that I had an unsolicited offer of $650k with no inspections for my home which we declined. I've got geothermal plus a whole house gene easily making up that +$35k value.
New listing sat for almost a month without an "Under Contract." We assumed that was bad. A new young family just moved in Friday with a 10 month old. Selling price was $665k.
Long winded way to say that if your home is a place where folks can see themselves raising their children as a long term home, with good schools etc, then there will be likely many frustrated young couples who are tired of the hunt, want to be in their nest, and will overpay.
Good luck!
Another issue is if your house has anything that is unique versus comparable houses in your area, that will be used for comps. For instance, do you have ten acres when everyone else has two. Or do you have barns and a horse paddock plus border state land that allows for riding but other properties don't have this. If you have uniqueness in your property there will be a buyer somewhere who will pay up for this but your realtor will probably price your home versus the comps and not add any value. Under-pricing a home for a quick sale for less commission is often more profitable than having to show it for multiple months at the right price to find the right buyer and in these situations making an effort to sell it yourself and advertising it in venues where it will draw interest could be to your advantage.
My home here in Ct. has a three acre pond in the backyard of which I own about a third of it along with a couple of other owners. As a Common Law state that makes it 100% private since we own the property around the pond and the pond bottom too.
It is an old Grist Mill pond that we reclaimed back in the early 90s by draining and removing enough material to take it down to 15' depths and bank-run gravel. I raise trout, swim in the pond, ice skate in winter, have a fire pit down by the water and a 12' square floating raft with a diving tower for the grandkids. Zillow has my house appraised at the median price of about a half dozen other 2400 square foot Colonial style houses that are in our "executive ghetto" area of various developments all with a two acre minimum. Only a couple of the houses have water rights of any kind or own a usable pond but they are all appraised about the same on Zillow based upon comps. I also get a fair number of unsolicited offers over the course of the year and the offer pricing indicates a willingness to pay a premium. So if this is your situation don't be quick to jump at the first offer and make an effort to try and find the right buyer.
My home here in Ct. has a three acre pond in the backyard of which I own about a third of it along with a couple of other owners. As a Common Law state that makes it 100% private since we own the property around the pond and the pond bottom too.
It is an old Grist Mill pond that we reclaimed back in the early 90s by draining and removing enough material to take it down to 15' depths and bank-run gravel. I raise trout, swim in the pond, ice skate in winter, have a fire pit down by the water and a 12' square floating raft with a diving tower for the grandkids. Zillow has my house appraised at the median price of about a half dozen other 2400 square foot Colonial style houses that are in our "executive ghetto" area of various developments all with a two acre minimum. Only a couple of the houses have water rights of any kind or own a usable pond but they are all appraised about the same on Zillow based upon comps. I also get a fair number of unsolicited offers over the course of the year and the offer pricing indicates a willingness to pay a premium. So if this is your situation don't be quick to jump at the first offer and make an effort to try and find the right buyer.
In a hot market, it's fine to price it a bit low to drive traffic and offers. Your agent will tell buyers that it's priced aggressively to drive interest. If there are multiple offers coming, it will create solid offers, often with escalation clauses.
Example: if you think your house is worth $710-715, price it at $700. It catches buyers who search with 700 at both their bottom and top end.
Latest posts
-
Football What is the Penn State Football over/under for wins in 2024?
- Latest: Crusher1950
-
-
Football Penn State Football Welcomes four More Enrollees to Campus- Latest: Marty Leap
-
