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Old 02-25-2011, 08:19 AM
 
1,527 posts, read 4,056,289 times
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I don't understand, why would anyone want to sell their house without "broadcasting their intentions"? To the OP, do you not want your neighbors to know or something?
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Old 02-25-2011, 06:15 PM
 
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Great advice everyone ...sort of the stuff I was hoping to hear. We've already had an appraisal done and thought it may be a good idea to sell pivately. In the end, I believe, the buyer pays the commission. Somehow it gets baked into the seller's equation (to accept an offer or not). That said, I was wondering if a buyer would be more interested in a sincere purchase instead of a "negotiation". Since I know what the house is worth, I loathe the idea of baking in a real estate commission and setting up an "Open House", staging a home, etc... I thought there may be a way reach "real buyers" who are ready to buy. By that -I mean, people who know the area, have done their homework and are ready to purchase a home (provided it met their needs) ...an educated buyer. They say the majority of Open Houses bring people who really aren't ready to (or want to) buy. Sometimes they are just checking things out.
Perhaps there is a board where people post: "Looking to buy in Chatham NJ 1.2M-1.5M"?
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Old 02-25-2011, 07:18 PM
 
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Take a look at chatham.patch.com - I think the patch websites (by town) often have real estate listings.
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Old 02-25-2011, 07:24 PM
 
Location: West Orange, NJ
12,546 posts, read 21,353,711 times
Reputation: 3730
Quote:
Originally Posted by chathamhome4sale View Post
Great advice everyone ...sort of the stuff I was hoping to hear. We've already had an appraisal done and thought it may be a good idea to sell pivately. In the end, I believe, the buyer pays the commission. Somehow it gets baked into the seller's equation (to accept an offer or not). That said, I was wondering if a buyer would be more interested in a sincere purchase instead of a "negotiation". Since I know what the house is worth, I loathe the idea of baking in a real estate commission and setting up an "Open House", staging a home, etc... I thought there may be a way reach "real buyers" who are ready to buy. By that -I mean, people who know the area, have done their homework and are ready to purchase a home (provided it met their needs) ...an educated buyer. They say the majority of Open Houses bring people who really aren't ready to (or want to) buy. Sometimes they are just checking things out.
Perhaps there is a board where people post: "Looking to buy in Chatham NJ 1.2M-1.5M"?
so if you were shopping for a home, and the identical home next door sold for 1 million, but had no realtor...and the home you were going to buy had a realtor...would you phone the seller and say "i'll give you $1,050,000"?
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Old 02-25-2011, 11:10 PM
 
11,337 posts, read 10,993,307 times
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Quote:
Originally Posted by chathamhome4sale View Post
Great advice everyone ...sort of the stuff I was hoping to hear. We've already had an appraisal done and thought it may be a good idea to sell pivately. In the end, I believe, the buyer pays the commission. Somehow it gets baked into the seller's equation (to accept an offer or not). That said, I was wondering if a buyer would be more interested in a sincere purchase instead of a "negotiation". Since I know what the house is worth, I loathe the idea of baking in a real estate commission and setting up an "Open House", staging a home, etc... I thought there may be a way reach "real buyers" who are ready to buy. By that -I mean, people who know the area, have done their homework and are ready to purchase a home (provided it met their needs) ...an educated buyer. They say the majority of Open Houses bring people who really aren't ready to (or want to) buy. Sometimes they are just checking things out.
Perhaps there is a board where people post: "Looking to buy in Chatham NJ 1.2M-1.5M"?

What I'm getting from you ch4s, is that you are trying to avoid the hassle and adversarial nature of home selling. You are hoping for a nice family to come along, appreciate the love and pride you have for your home, purchase it with equanimity, and continue the tradition as they raise their family. Without all the hustlers who want to lowball you, and without all the real estate agents who are going to take all the romance out of the transaction. I can appreciate that, although I don't think it happens much in the frenetic and aggressive world we live in nowadays.

Having said that, if you are not in any rush and there is no compelling need to sell quickly, you could simply post your house for sale on the Internet and not offer a commission to buyers agents. Put some ads in the Daily Record and Star Ledger and New York Times. The ads will land you on their websites. If there are any buyers who are hot for Chatham and are paying attention, one of them will find you and perhaps you can complete a deal in the quiet fashion you are seeking.

Try it for 2 or 3 months and see what kind of response you get. It can happen that way if you are lucky. The worst thing that can happen is you are out a few hundred dollars of ad expense. If it sells, great, if not, you can up the ante and get more aggressive in May or June.

You can skip the open houses, but you should still make your home look and smell great. If the right family comes along, you don't want anything to prevent them from making an offer.

Don't wait for the weather to warm up though, the Spring market starts well in advance of the tulips and you want to strike while the iron is hot. Interest rates seem to be trending up, not down. Every time they increase, some percentage of the market can no longer afford your home. Also, with fear of much higher gasoline prices coming into the picture, train towns go up in value and desirability. So don't wait to get started.
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Old 02-26-2011, 08:41 AM
 
Location: NJ
17,574 posts, read 46,033,396 times
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I guess a question would be is the commission already built in to the appraisal process? You say you know what your home is worth. But if that number is relative to houses that have sold and have had a commission you may be overvaluing your house if you are then going to try and take the commission out of the transaction.
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Old 02-26-2011, 11:45 AM
 
3,269 posts, read 9,914,732 times
Reputation: 2025
Quote:
Originally Posted by chathamhome4sale View Post
Great advice everyone ...sort of the stuff I was hoping to hear. We've already had an appraisal done and thought it may be a good idea to sell pivately. In the end, I believe, the buyer pays the commission. Somehow it gets baked into the seller's equation (to accept an offer or not). That said, I was wondering if a buyer would be more interested in a sincere purchase instead of a "negotiation". Since I know what the house is worth, I loathe the idea of baking in a real estate commission and setting up an "Open House", staging a home, etc... I thought there may be a way reach "real buyers" who are ready to buy. By that -I mean, people who know the area, have done their homework and are ready to purchase a home (provided it met their needs) ...an educated buyer. They say the majority of Open Houses bring people who really aren't ready to (or want to) buy. Sometimes they are just checking things out.
Perhaps there is a board where people post: "Looking to buy in Chatham NJ 1.2M-1.5M"?
Sounds to me like you want to sell your house for full asking without a realtor or doing any of the hard work yourself. Good luck with that.
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