House For Sale By Owner

kwc57

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So, we have had our house listed with a reputable realtor and realty company for almost 6 months. In fact, this Saturday is the end of our 6 month contract with the realtor. We are in a decent housing market, but we haven't had a single offer in that time I don't necessarily blame that on the realtor, but we haven't been totally happy with her efforts to sell it either. Part of it is that we are in a higher price range where there isn't as much movement. Before anyone asks, everyone that sees the house as well as other realtors who have come to broker opens remark on what a beautiful house it is and that it ought to sell easily. They also say it is priced right. But still we sit with a house we have not been able to sell. My question, have any of you gone the "for sale by owner" route and what kind of experience was it? It scares my wife to death, but the possibility of not having to pay a realtor $14K in hard earned equity seems worth it to me. So.......would you do it.......have you done it.......would you do it again?
 

Book of Jeremiah

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It's the only way to go. You don't need a realtor. Do not list with Buy Owner either. You are still paying a commission. You can do everything yourself. All you need is a lawyer to do the paperwork / closing. Or you can use a mortgage broker. Check around and see who is cheaper. Then let the buyer of your home pay the closing costs. It's that simple.

Advertise the property yourself - or put a for sale sign in yard. You don't need a realtor to do something that you can do yourself.
 

Asclepias

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So, we have had our house listed with a reputable realtor and realty company for almost 6 months. In fact, this Saturday is the end of our 6 month contract with the realtor. We are in a decent housing market, but we haven't had a single offer in that time I don't necessarily blame that on the realtor, but we haven't been totally happy with her efforts to sell it either. Part of it is that we are in a higher price range where there isn't as much movement. Before anyone asks, everyone that sees the house as well as other realtors who have come to broker opens remark on what a beautiful house it is and that it ought to sell easily. They also say it is priced right. But still we sit with a house we have not been able to sell. My question, have any of you gone the "for sale by owner" route and what kind of experience was it? It scares my wife to death, but the possibility of not having to pay a realtor $14K in hard earned equity seems worth it to me. So.......would you do it.......have you done it.......would you do it again?
Pay a professional to do things you are not professional at. You obviously have the house priced too high if it looks as nice as you say it does. The realtor you have is a dud.
 

Book of Jeremiah

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About my own experience - I prayed for the LORD to send the buyer for the last property ( one before also) and the buyer showed up the next day. I didn't even advertise it. Just put a sign up on fence. It was a cash deal. Within about 2 weeks we were at closing. The one before I did the same thing only before the sign was even in the yard the buyer walked up and asked to buy the house - offered more than what we planned on asking and paid cash. (both times they paid cash).

God is good!
 

Book of Jeremiah

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So, we have had our house listed with a reputable realtor and realty company for almost 6 months. In fact, this Saturday is the end of our 6 month contract with the realtor. We are in a decent housing market, but we haven't had a single offer in that time I don't necessarily blame that on the realtor, but we haven't been totally happy with her efforts to sell it either. Part of it is that we are in a higher price range where there isn't as much movement. Before anyone asks, everyone that sees the house as well as other realtors who have come to broker opens remark on what a beautiful house it is and that it ought to sell easily. They also say it is priced right. But still we sit with a house we have not been able to sell. My question, have any of you gone the "for sale by owner" route and what kind of experience was it? It scares my wife to death, but the possibility of not having to pay a realtor $14K in hard earned equity seems worth it to me. So.......would you do it.......have you done it.......would you do it again?
Pay a professional to do things you are not professional at. You obviously have the house priced too high if it looks as nice as you say it does. The realtor you have is a dud.
I have to disagree with you. It doesn't take a professional to put a sign in the yard and call around for a lawyer or mortgage broker once you have the buyer. Let the buyer pay the closing costs. The lawyer will do the rest. Very simple.
 

Asclepias

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So, we have had our house listed with a reputable realtor and realty company for almost 6 months. In fact, this Saturday is the end of our 6 month contract with the realtor. We are in a decent housing market, but we haven't had a single offer in that time I don't necessarily blame that on the realtor, but we haven't been totally happy with her efforts to sell it either. Part of it is that we are in a higher price range where there isn't as much movement. Before anyone asks, everyone that sees the house as well as other realtors who have come to broker opens remark on what a beautiful house it is and that it ought to sell easily. They also say it is priced right. But still we sit with a house we have not been able to sell. My question, have any of you gone the "for sale by owner" route and what kind of experience was it? It scares my wife to death, but the possibility of not having to pay a realtor $14K in hard earned equity seems worth it to me. So.......would you do it.......have you done it.......would you do it again?
Pay a professional to do things you are not professional at. You obviously have the house priced too high if it looks as nice as you say it does. The realtor you have is a dud.
I have to disagree with you. It doesn't take a professional to put a sign in the yard and call around for a lawyer or mortgage broker once you have the buyer. Let the buyer pay the closing costs. The lawyer will do the rest. Very simple.
Depending on the market you cant list your home on the MLS if its FSBO. Even if you live somewhere you can how many realtors are going to show your home for no commission? If you are not a sales person you probably wont get many bites. Typically the public needs to be convinced your home is a good investment.
 

strollingbones

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a good real estate agent is worth the commission .......your place is clearly overpriced.....what are the comps and what do they say...many times the owner puts value on their home that does not exist to the potential buyer....have you had a home inspection.....normally that is paid for by the buyer but i would have one and fix anything they find etc.
 

HereWeGoAgain

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It would depend on the market. If houses are selling like hot cakes in your area by all means sell it yourself.
If things are slow you'll get better exposure through a real estate agent.
 

strollingbones

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i am headed into town but i will tell you some of the options...if you have the home inspection you have a bit of a hook.....inspected/fixed/paid for....not a big cost but a nice gesture ...then look at staging...
 

Book of Jeremiah

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You can do your own comp. Look up Zillow on google. It isn't difficult.

(compare homes sold like yours in your vicinity - see what they sold for)
 

Asclepias

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a good real estate agent is worth the commission .......your place is clearly overpriced.....what are the comps and what do they say...many times the owner puts value on their home that does not exist to the potential buyer....have you had a home inspection.....normally that is paid for by the buyer but i would have one and fix anything they find etc.
A good realtor would run comps and advise the best price point, home inspection, and throw in a warranty for top dollar..
 

Book of Jeremiah

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So, we have had our house listed with a reputable realtor and realty company for almost 6 months. In fact, this Saturday is the end of our 6 month contract with the realtor. We are in a decent housing market, but we haven't had a single offer in that time I don't necessarily blame that on the realtor, but we haven't been totally happy with her efforts to sell it either. Part of it is that we are in a higher price range where there isn't as much movement. Before anyone asks, everyone that sees the house as well as other realtors who have come to broker opens remark on what a beautiful house it is and that it ought to sell easily. They also say it is priced right. But still we sit with a house we have not been able to sell. My question, have any of you gone the "for sale by owner" route and what kind of experience was it? It scares my wife to death, but the possibility of not having to pay a realtor $14K in hard earned equity seems worth it to me. So.......would you do it.......have you done it.......would you do it again?
My husband and I will be happy to answer any questions you have. Send me an email if you need any help. In the meantime, I will pray that the LORD helps you sell your home.
 
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kwc57

kwc57

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I really didn't want to get into nitty gritty details as I was looking for advice from people who have done this before and the pros and cons. But to provide some more background, we took 3 months prior to putting it on the market to fix anything and everything that needed fixing. Heck, you won't even be able to find a nail hole in any wall. We clean it twice a week so it is always ready to show. It is immaculate. We've removed all personal items as well as much of the furniture and it is staged. We are either under the comps or right on top of them. The biggest issue is that it is a 2800 square foot house and they don't sell with the same speed an 1800 square foot house does. We accept that we are in a different selling bracket that doesn't sell as quickly, but they do sell all the time. So the house is in great shape, it's clean, literally move in ready (no pink, purple, blue, etc. kids rooms or floral wallpaper) and it is priced right. I'm not really looking for advice on those things as I've got a handle on them. My question is have you sold your house yourself instead of thru a realtor and was the thousands of dollars in cost savings worth it? Would you do it again? What kind of issues if any did you have?
 

Asclepias

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I really didn't want to get into nitty gritty details as I was looking for advice from people who have done this before and the pros and cons. But to provide some more background, we took 3 months prior to putting it on the market to fix anything and everything that needed fixing. Heck, you won't even be able to find a nail hole in any wall. We clean it twice a week so it is always ready to show. It is immaculate. We've removed all personal items as well as much of the furniture and it is staged. We are either under the comps or right on top of them. The biggest issue is that it is a 2800 square foot house and they don't sell with the same speed an 1800 square foot house does. We accept that we are in a different selling bracket that doesn't sell as quickly, but they do sell all the time. So the house is in great shape, it's clean, literally move in ready (no pink, purple, blue, etc. kids rooms or floral wallpaper) and it is priced right. I'm not really looking for advice on those things as I've got a handle on them. My question is have you sold your house yourself instead of thru a realtor and was the thousands of dollars in cost savings worth it? Would you do it again? What kind of issues if any did you have?
Yes. I have. No I wouldnt ever do it again. Thats why I mentioned using a good professional. Comps really only set guide lines. Value is what someone is willing to pay. Your realtor should know that. Lower your price.
 

strollingbones

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i have to agree if you have done all this.....you need to remove the house from the market....do not put it with an agent who puts....'reduced price' on it....better to remove from market and then re list at a better price....2800 sq ft is not a mac mansion and stop thinking that is the reason you are not selling....

comps are more than the price the dude next door sold for...
 

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I really didn't want to get into nitty gritty details as I was looking for advice from people who have done this before and the pros and cons. But to provide some more background, we took 3 months prior to putting it on the market to fix anything and everything that needed fixing. Heck, you won't even be able to find a nail hole in any wall. We clean it twice a week so it is always ready to show. It is immaculate. We've removed all personal items as well as much of the furniture and it is staged. We are either under the comps or right on top of them. The biggest issue is that it is a 2800 square foot house and they don't sell with the same speed an 1800 square foot house does. We accept that we are in a different selling bracket that doesn't sell as quickly, but they do sell all the time. So the house is in great shape, it's clean, literally move in ready (no pink, purple, blue, etc. kids rooms or floral wallpaper) and it is priced right. I'm not really looking for advice on those things as I've got a handle on them. My question is have you sold your house yourself instead of thru a realtor and was the thousands of dollars in cost savings worth it? Would you do it again? What kind of issues if any did you have?
If you take the route of doing it yourself, you MUST put time and some money in enhancing curb appeal. Most people will pass on looking at the inside of a house if they are not attracted to the outside of the house...but a realtor usually convinces them to look at the inside anyway.
But without a realtor, they may just drive by.
What I suggest, and has worked for me, is to have "alternative" layout designs available for prospective buyers. Know where the header(s) are and show them what walls can be removed so they can accommodate their taste in layout.
Likewise, take out anything that is tailored to "you". For example, if you have bold colored walls, paint them neutral...if you have things hanging from ceilings like chimes or mobiles, take them down.
Finally...ALWAYS have a pot of coffee brewing. It will disguise any unwanted odors AND it gives the atmosphere a more homey feel.
 

NLT

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We sold our first home ourselves and it was easy, but the market was great for sellers.
 

Jarhead

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I left out something else.....in every room, on at least one horizontal surface, have a planter or pot of frsh flowers...not long stems as it clutters the wall behinds it....low lying flowers. Also, ensure each and every doorknob is tight. Loose doorknobs are a subconscious sign of disrepair...same with cabinet hinges. One does not notice a "tight house"...but they DO notice a "loose house"....
 

strollingbones

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i know this sounds a bit odd but bake cookies.....have a small open house and have the house smell like cookies.....scent is the most lingering sense we have...and it will imprint on the potential buyers....and have all the curtains and all open and all the lights on....
 

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