[Corey07850]

Hi Guys!

We currently have our home in West Hartford as we are building a new home but are getting slightly nervous as the new home's construction is moving right along and our current home hasn't sold yet. We have lowered the price a bit but are trying to work out a contingency plan if we need to lower the price drastically to sell it ASAP.

One thought we had was if we did FSBO it would free is up a bit on what offers we can accept but aren't ready to make that jump yet. We are wondering if there were any ways to sort of "test the waters" so to speak? In other words, are there any avenues we can look at for sellers looking for FSBO homes to see if there was demand on that side? We checked out Craigslist's "housing wanted" but it is geared toward rentals.

In any event, some reassuring that we will eventually sell would be welcome

[Lalalally]

Best piece of advice I can offer is make sure you're not listing right now at an overpriced/inflated value just to cover your realtor commission. I just don't think that works these days. And you run the real risk of having it just sit there, and buyers will start to wonder if there's something wrong with it if it sits for too long... Price it right from the get go. In the long run I think you'll be glad you did.

[parentologist]

Take it off the market now. Bargain hunters know that August and December are the two absolutely best times to get a house cheaply. Post it FSBO on Zillow, Trulia, etc. now. Put out a FSBO sign. Do anything you can to make the house more attractive to buyers, within your budget. You might catch someone who needs to get kids into WH schools before September.

If necessary, consider a bridge loan. You may get more for it in the spring. But interest rates are predicted to rise, which will mean that buyers won't be able to pay as much.

[Raider111]

Sorry, it never works, what few limited buyers do see it are smart enough to know what your'e up to. I know millions who tried and they end up throwing in the towel and go with a realtor.

[JayCT]

A good realtor knows how to market a home and has access to more buyers than an ad placed online or in a local newspaper. Most people buy by using an agent by far. It is not cheap but IMHO, it is worth it to get the most people through your home and get it sold. As long as the house is in reasonably good condition, located in a decent area and priced reasonably, it should sell. A realtor can help you with this. Jay

[KH02]

Perhaps we could make some suggestions on how to make it more desirable to buyers if you tell us a little more about the home.

[EUPL]

FSBO won't get you far, having the home on the MLS is crucial. Perhaps it's time to change Realtors. Has the Realtor provided you a recent CMA to see where the home stands price wise or did they simply list the home at the price you requested?

[Metsfan53]

you can do FSBO but post to MLS. In order to do so you'll need to offer a commission to buyer's agent. This is a good way to take advantage of MLS while still saving some $$$. Just make sure to handle this as a business move. Make sure your listing is professional, good staging, clean house for showings, decluttered, etc. Be honest about pricing - most FSBO don't work because the seller has an over-inflated sense of worth of the house and won't accept reality.

[NewJeffCT]

Look at it this way - the guy that owns the biggest FSBO website (don't remember which one) used a realtor to sell his own house not long ago. You'd think that anybody that into doing FSBO would be committed to the cause and could afford to do extra advertising on his own.

[EUPL]

Here are seven reasons why it’s not a good idea to sell on your own:
1) People don’t like to deal directly with the owner. It puts them in an uncomfortable position and the seller can get defensive if the buyer’s suggest something is wrong with the house or make a low offer.
2) Buyers know the seller’s aren’t paying any commission to a Realtor so the first thing they expect is a reduction in sale price.
3) Sellers use the wrong criteria to base the listing price of the house. They don’t have access to recent pending and sold data so they often base the price on what it was once appraised at. What their neighbor’s house sold for or what they think its worth is not how the market works. (useless Zillow)
4) Buyers experience a lower level of service from a homeowner, get frustrated and then move on. Seller’s often want to pitch the great things about their house which may or may not be relevant to the buyers. Personally, I get frustrated when I call the phone number to set up a showing and I get a personal voicemail with no mention of the house. Did I get the right number?
5) Buyers get nervous about all the legalities involved and don’t want to risk a deal falling through because the homeowner didn’t have a firm grasp of the paperwork and procedures. This is especially true in today’s market where the government is changing the rules and regulations often.
6) Sellers think that they can always lower the price. What they don’t know is that the longer the home is on the market the less likely it will sell. Buyers will wonder what’s wrong with it.
7) Sellers often reject the first offer they receive because they think it’s too low and that a better one will come along. The first offer is usually the best offer so rejecting it will put them in a negative position should any subsequent offers be lower.




Number 1 is key.

When I see a listing on the MLS and it shows "call owner" for all showings and information, I avoid that listing and tell my client the same. The last thing I want to do is work double, 1 for my clients and the other for the seller explaining to them every step of the house sale process. I have done this in the past but I absolutely hated it! ( Every Realtor will tell you the same)