U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate > Real Estate Professionals
 [Register]
Please register to participate in our discussions with 1.5 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Jump to a detailed profile or search
site with Google Custom Search

Search Forums  (Advanced)
Business Search - 14 Million verified businesses
Search for:  near: 
Reply Start New Thread
 
Old 07-25-2007, 10:44 AM
 
97 posts, read 245,205 times
Reputation: 57

Advertisements

Quote:
Originally Posted by Northwoods Voyager View Post
Please accept my apology if I have in any way offended you. That was NOT my intention. My comments were just that, comments. As I did state, they were some of the things that HAVE happened in the past. Not to imply that this is what YOU were doing. Just as an observation. You have done about everything possible to get your home sold. I agree with almost all of the previous posts.
The advice that you received from Gretchen B is perhaps the most thorough.
Again, please do not think that my comments were insulting. Just a reminder that some of us do push a little too much. But it appears from your reply that you have done the right things.

I do wish you well and Good Luck
Oh, no offense taken! If I didn't want advice, I wouldn't have posted here. (it is so hard to tell in writing someones emotions )

Anyway, I am very thankful for all the advice given here. We will read over every last word and take it all to heart, as it seems that people here really do just want to be helpful...especially since none of you are "getting anything out of it" . I try to be as helpful as I can be on the Missouri board with people who inquire about our city....it appears that you all are just as helpful here in the RE section as well! So, thank you from one struggling home-seller!
Reply With Quote Quick reply to this message

 
Old 07-25-2007, 10:50 AM
 
Location: Montana
2,203 posts, read 6,179,462 times
Reputation: 1033
Lightbulb Well there's your answer

You know, if the AOK site wasn't posting on average 2-3 FSBO's in town selling A DAY... I might agree...but the FSBO's in this town ARE selling. Just not ours... or maybe we really are just jumping the gun?

Hi again St Joe Fanatic - Hey - that's your "tell" right there and will give you a good idea of how long it might take to sell your home FSBO. You just need to know how many FSBO's there are on the AOK site total for the KC area. What percentage does the 2-3/per day represent? For instance, if there's 100 FSBO's on AOK with 2 selling/day, then you're looking at an average of 50 days to sell a FSBO. If there's 1,000, then you're looking at 500 days to sell.
That bit of info should help you know what you might expect in general.

Now narrow it down further, how many FSBO's are similar to your home (price, sf, age, condition). Those are your comps. How many of those are listed on AOK? How many of those are selling per day? (You may have to look at monthly totals to get an accurate picture once you get specific.)

How does AOK report "solds"? Are these homes that have closed escrow? If so, what was the sell price compared to the list price? This can tell you how much those sold FSBO's are having to negotiate their price in order to get their home sold.

These are all numbers you REALLY need to know in order to price your home initially, then market it effectively and negotiate the best price.

Again, the best to you.

PS - I really think it may be a possibility that you might be leaving money on the table by going FSBO. I'm happy to see that you may at least consider interviewing some agents. I always figure it never hurts to talk - you don't need to sign on the dotted line unless it's a win-win situation for you and makes sense to do so.
Reply With Quote Quick reply to this message
 
Old 07-25-2007, 11:22 AM
 
Location: Montana
2,203 posts, read 6,179,462 times
Reputation: 1033
PSS - I just was looking at the AOK site again. I notice that realtors have homes on there as well, and that about 1/2 of the "Under Contract" and "Solds" were homes listed with realtors.

I'm also wondering, how many of the FSBO solds were sold by realtors representing buyers and the FSBO was willing to pay a co-broke.

You may want to call a handfull of the "Under Contract" and "Sold" FSBO's and ask them a couple of questions:

Did they sell their home to an independent buyer or one represented by a realtor?

What percentage of their list price did they get? (Keep in mind, though, they may be reluctant to answer that question, and the answer they give may not be accurate.)

This info would really help you know what to expect as a FSBO.
Reply With Quote Quick reply to this message
 
Old 07-25-2007, 11:37 AM
 
2,801 posts, read 5,880,983 times
Reputation: 2994
You know this is just a psychological thing but many might wonder why are you selling? Some buyers always wonder about a "good" thing and why someone would leave. If you got a job somewhere else or family got much bigger or retiring somewhere else, you can say that.

I "wonder" what is wrong about a great house that is being sold for a "too low price". Do they have covered up problems, neighbor issues, bad school issues, etc. Sometimes it is simply, job was transferred. I have real aversions to a home (not yours) that someone added on to and then immediately wants to sell. I wonder what exactly is wrong with the addition that they obviously spent a lot of time and money on.

Just something to think about.
Reply With Quote Quick reply to this message
 
Old 07-25-2007, 11:55 AM
 
97 posts, read 245,205 times
Reputation: 57
Quote:
Originally Posted by Gretchen B View Post
PSS - I just was looking at the AOK site again. I notice that realtors have homes on there as well, and that about 1/2 of the "Under Contract" and "Solds" were homes listed with realtors.

I'm also wondering, how many of the FSBO solds were sold by realtors representing buyers and the FSBO was willing to pay a co-broke.
You know, almost ALL the listings on AOK that are now listed by a realtor, started off as exclusive FSBO and when it didn't go as planned, they listed with a Realtor... looks like we might be headed down that road ourselves!
Reply With Quote Quick reply to this message
 
Old 07-25-2007, 12:38 PM
 
8,289 posts, read 7,314,628 times
Reputation: 4808
StJoeFantastic 85% of homes sold are through realtors (i'm one in Florida) but have you tried offering 3% comission to Buyer's agents yet? Try that first but if not go get yourself an agent. I sell homes for a living and it's hard enough for me! By the way if you stay FSBO make sure you get a real estate attorney. I can't tell you how many FSBOs I know that have had problems or lawsuits after the sale of their home for non disclosure.

PS: please keep us updated!

Last edited by MiamiRob; 07-25-2007 at 12:47 PM..
Reply With Quote Quick reply to this message
 
Old 07-25-2007, 12:54 PM
 
Location: Halfway between Number 4 Privet Drive and Forks, WA
1,516 posts, read 3,141,625 times
Reputation: 608
I think your house is very lovely and charming. I myself have been trying to sell our home in GA so I know where you are coming from. I would at least interview 3 agents, have them do a CMA for you, and see what price you should be at. IMO, for your home, you may be underpriced leaving some serious buyers wondering "ok, what's wrong with the house?" The too good to be true situation Sunnydee was referring to.

May the luck fairies be with you and get your home sold!

Last edited by PotterGeek; 07-25-2007 at 12:55 PM.. Reason: added text
Reply With Quote Quick reply to this message
 
Old 07-27-2007, 09:08 AM
 
97 posts, read 245,205 times
Reputation: 57
Default Update!

Ok, see if you can believe this one! We had a conversation with a pretty prominent RE agent in town last night. She did not want to list our house! Not because it is a bad house or anything like that (in fact, she said she LOVES our house!) BUT, because she says the market is so completely tanked right now! She said she only has 2 clients and they only want land in the the country. She didn't even offer to help in anyway, even though we were willing to pay commission! We even said like 3 times we would even just like to get on the MLS...still, she didn't even act like we should bother!

So, needless to say, with time ticking LOUDLY, we will be calling more agents!
Reply With Quote Quick reply to this message
 
Old 07-27-2007, 09:15 AM
 
1,408 posts, read 5,519,386 times
Reputation: 605
WOW! your market must be terrible for an agent to say that. The massachusetts (where I am) market is terrible but I can't think of one agent that would turn down a listing (as long as it was priced correctly and agressively).
Reply With Quote Quick reply to this message
 
Old 07-27-2007, 10:14 AM
 
97 posts, read 245,205 times
Reputation: 57
That is EXACTLY what we thought!

We are going to try one more tactic before listing with an agent. I will be sending out an e-mail blitz to about 75 RE agents in town... guaranteed 3% commission for buyers agents. We will see what happens!
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $84,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate > Real Estate Professionals
Similar Threads

All times are GMT -6.

2005-2014, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25 - Top