Zillow's Make Me Move (6%, agent, commission, sales)
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There is an old thread about this, but no recent discussion. A couple years ago I put a "Make Me Move" price on my home, just for fun, although we had no intention of putting our house on the market. Now, a couple years later, we are planning to move - not quite yet, but when the time is right. But if someone were to show interest in buying our house, that might be the time.
So I've rethought the Make Me Move thing. Before, I thought of it like the name implies: "I'm not trying to sell, but for the right price you might get me out." Now I think it could be a decent tool, if used by enough people. It could be a way to let people know that I am interested in selling, but not ready to list - but I could get ready in a hurry if someone were interested. (Of course, if someone showed serious interest, we could quickly get a Realtor.)
This is a buyer's market, so I don't see the point. There is plenty of inventory already listed, so why would someone seek you out? Maybe I'm naive and missing something.
While true it is a buyers market, and prices are down from a few years ago....every market is different.
This thread sparked my interest, as I bought a home in Florida a few years ago. I plan on selling my home in NY in the near future, (within a year or so). A few years ago I put a price on the "make me move" part of zillow. Last month out of the blue I got a call from someone local saying they saw our home on Zillow and wondered if we sold the house yet.
It seems that within the last year around here the amount of homes for sale has been dropping, and there are not many higher end homes for sale at all. We made an appointment to show the home to these folks. They are a professional couple well known and respected in the community. They still need to sell their home, so no deal was struck that day. They liked the house, and who knows, it may happen.
We have started getting the word out that our home will be for sale within a year or so.......we'll see. I just thought it was strange that Zillow actually got us a showing.
The only problem with the "Make Me Move" feature in Zillow is that the price that most sellers want to "Make Me Move" is out of line with the current buyer's market. In my area, there's lots of inventory, but the prices are more in line with 2007 than 2011. Sale prices in my market are still falling, so unless the "Make Me Move" price takes that into account, there's no need to bother. If you're ready to price your house in line with the market, then you should get serious and list, because contrary to popular belief, there are plenty of buyers like me on the sidelines, ready and waiting.
For me the "Make me Move" thing was something I posted on Zillow a few years ago.
We have started getting the word out into the community that our home will be for sale in the near future. We have had garage sales the past two years with signs saying something to the effect of , "We soon plan on moving to our Florida home, so eventually everything, including this house will be For Sale"
We are getting rid of almost everything, repainting rooms, decluttering, (although we never did have too much to declutter), basically making the house perfect for showing.
I have spoken to a few Realtors, who have done CMA's for us, etc. They know we are not ready to list now, and if a buyer comes along prior to our listing with the right numbers, etc, we will sell to them. About 10% of homes today are sold without a Realtor, and our home is nice enough in looks and location to perhaps do just that.
That being said, I fully know the advantages of using a good Realtor, MLS, etc, and will go that route if needed. We'll see. We have one of the nicest homes in the most desirable area of our county.......so I am not worried about selling. The Realtors I've spoken to have almost begged for the listing and have told us they wished all sellers prepared a home to sell like we have.
Where we are there is one large Realty company that list and sell 58% of the market here. They do things well. We have spoken to the top three of those Realtors....the ones who have the highest amount of sales, listings, etc. They also have the best numbers of percent of sales amount compared to listing price, days on market, etc.
If you pay 6% regardless, (and I know that is not always the case), why would you list with anyone other then the heaviest hitters to whom you have a good working relationship?
The only problem with the "Make Me Move" feature in Zillow is that the price that most sellers want to "Make Me Move" is out of line with the current buyer's market. In my area, there's lots of inventory, but the prices are more in line with 2007 than 2011. Sale prices in my market are still falling, so unless the "Make Me Move" price takes that into account, there's no need to bother. If you're ready to price your house in line with the market, then you should get serious and list, because contrary to popular belief, there are plenty of buyers like me on the sidelines, ready and waiting.
Do you seriously think someone using that feature would price their home in line with the market? You're saying, yes I'll move but not for market value but for much more since I really don't want to move but for the right amount of money will.
JMHO, it's a stupid and meaningless feature on zillow for 99% or people out there.
Am I understanding what you're saying? You're going to list, show, etc and then if someone is seriously interested, you'll get a realtor?
Not exactly. I put a "Make Me Move" price on zillow, which is different than listing as for sale. If someone were to contact us, we would probably show the house to them or, if they have a Realtor, let their Realtor go through it with them. But we would have more time to get things put away and cleaned up, as they realistically wouldn't expect to show up the same day. If they wanted to make an offer, we might get an agent at that point (DH's choice), or we might not.
Once the house is listed we live differently: no strong-smelling food (unless it's cookies, of course), work on only one project at a time, ready to throw it in a box at a moment's notice, clean everything more often than usual, take the pictures off the refrigerator, leave none of our regular stuff on the counters, be ready to leave the house on short notice and tell the cats not to shed or throw up while we're gone, etc. Not fun, especially in a buyers' market, when it can be for a long time.
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This is a buyer's market, so I don't see the point. There is plenty of inventory already listed, so why would someone seek you out? Maybe I'm naive and missing something.
Yes, there is plenty of inventory listed, especially if you want a house in a subdivision. We live in a semi-rural area where there are not a bunch of other houses just like ours. So while there are plenty of houses for sale in general, there aren't any others just like ours - and ours might be the best fit for someone. If I were buyer I would want to know all my choices - those who were actively trying to sell, and those who would be willing to sell.
Also, because it is a buyers' market, there are people who would like to sell but aren't listing their homes because they think it's pointless. This would make these houses available as an option.
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I have spoken to a few Realtors, who have done CMA's for us, etc. They know we are not ready to list now, and if a buyer comes along prior to our listing with the right numbers, etc, we will sell to them. About 10% of homes today are sold without a Realtor, and our home is nice enough in looks and location to perhaps do just that.
We will probably do this too. The Realtors don't mind this? If they bring a buyer are you offering them the listing agent's commission, or is their only motivation finding the best home for their buyer?
The last time we sold a house we got a buyer without listing. My husband out walking and got into a conversation with the Realtor who had just sold a neighbor's home. DH mentioned that we would be selling soon, and the Realtor asked if he could bring us a buyer. A couple days later he delivered a buyer, at asking price (preapproved), as promised. (Somehow the preapproved buyer didn't get the loan, but it could have worked, if he had brought a richer buyer.)
Do you seriously think someone using that feature would price their home in line with the market?
In this market, I doubt that many people are offering the asking price of a listed home, either.
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