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We've been trying to sell our house since July. A lot of lookers but no one serious.
For the first 4 months we went strictly FSBO and used a discount realtor (3%) for the last 2 months and had some more people look, but nothing serious.
So now we're looking to go with a full realtor (5%) after the new year, but have been thinking about thinking outside the box before we do.
My current asking price is $389,000 and knowing IF we got our asking price which is unlikely we would pay the realtor $19,000 and end up with $370,000.
So before we do sign here's my thought. End the discount realtor now and lower the price to $370,000 on for sale my owner with no realtor, period. Before they usually bring someone over they call to ask if we would deal with a realtor knowing there would be 3% fee. Of course during this period the answer would be no.
I would like to try this for at least 2-4 weeks and advertise a little more by owner, plus have the usual sunday open houses.
We just thought that we might get some more action with the price being lower and no realtor commission. Unfort, once we do sign with a realtor the listing price would be between $389,000 and $394,000.
This is one way to maybe sell our home, end up with the same money while saving the buyer some serious cash.
BTW...we are not desperate to sell and not upside down.
1. When FSBO for 4 months you got no lookers.
2. When using a discount broker for 2 months you got a few lookers.
3. Now at $389K but going FSBO again at $370K but just for a few weeks
4. If this does work then going with a full service broker at $394K.
You are 6 months into this sale and have had very few lookers. Something is wrong somewhere.
My suggestion is interview a few local real estate agents. I would say one of the top selling, most experienced agents from the top three producing local agencies for a total of 3 agents, each from a different agency. See what they have to say about area pricing, area selling time, their personal sales track record, etc. After that, make your decision.
1. When FSBO for 4 months you got no lookers.
2. When using a discount broker for 2 months you got a few lookers.
3. Now at $389K but going FSBO again at $370K but just for a few weeks
4. If this does work then going with a full service broker at $394K.
You are 6 months into this sale and have had very few lookers. Something is wrong somewhere.
My suggestion is interview a few local real estate agents. I would say one of the top selling, most experienced agents from the top three producing local agencies for a total of 3 agents, each from a different agency. See what they have to say about area pricing, area selling time, their personal sales track record, etc. After that, make your decision.
Guess I should have been a little more clearer. While FSBO only,. we did have a number of lookers, but had a few more once we went with a discount broker.
Your property has been sitting amongst the unsellables for almost 6 months. The market has rejected your property even at what you would consider a serious low ball. This sort of market feedback is priceless.
Sounds like your bottom line net price is based on what you want out of the sale of your property and that you believe you control the outcome with your asking price. What does that have to do with the reality of your local market? No buyer is going to pay more than the property is worth, thus no savings.
By all means, give FSBO another shot at a reduced price. Since you don't need to sell and have nothing better to do on Sunday than allow strangers into your home, you have nothing to loose.
Or conversely, since you do not need to sell, you can withdraw from the maket and stay put.
Your property has been sitting amongst the unsellables for almost 6 months. The market has rejected your property even at what you would consider a serious low ball. This sort of market feedback is priceless.
Sounds like your bottom line net price is based on what you want out of the sale of your property and that you believe you control the outcome with your asking price. What does that have to do with the reality of your local market? No buyer is going to pay more than the property is worth, thus no savings.
By all means, give FSBO another shot at a reduced price. Since you don't need to sell and have nothing better to do on Sunday than allow strangers into your home, you have nothing to loose.
Or conversely, since you do not need to sell, you can withdraw from the maket and stay put.
We've had realtors in the home and all of them have said that the home is priced right at $389,000 and properly staged. Homes in my development have either sold or are selling at a higher price.
The market hasn't rejected any serious low ball since the price was never lowered.
You're right about having strangers in my house since I have nothing to do. When the house was FSBO only and we were home, I put out a sign on the main road for the open house and it did bring people in.
But I'm guessing since you're a realtor you're not happy with people who try to sell on their own.
BTW...Not trying to get into a pissing match with anyone here.
Your property has been sitting amongst the unsellables for almost 6 months. The market has rejected your property even at what you would consider a serious low ball. This sort of market feedback is priceless.
Sounds like your bottom line net price is based on what you want out of the sale of your property and that you believe you control the outcome with your asking price. What does that have to do with the reality of your local market? No buyer is going to pay more than the property is worth, thus no savings.
By all means, give FSBO another shot at a reduced price. Since you don't need to sell and have nothing better to do on Sunday than allow strangers into your home, you have nothing to loose.
Or conversely, since you do not need to sell, you can withdraw from the maket and stay put.
Excellent points! The OP would be well-advised to consult some agents as another poster suggested to get an idea of actual comparables in her area. Clearly something is "off" about her house. And trying to sell in January is hard.
I've seen sellers use limited service (MLS only) agencies and then switch to a full service model with a higher price and it never works. Your house is currently listed for 389,000 and that is permanent in your MLS, for any buyer agent to see. Unless your market is appreciating at a rapid pace, every buyer agent (and appraiser) will see through your plan to "cover your costs" and offer you a lower price based on your current list price (and sold comparables) rather than a higher cost to cover your increased marketing expenses. I don't want to get into a peeing match with you either, but unless your market is appreciating as I stated above and you want to sell, but don't have to, you probably won't. In most markets (like mine) only those who have to sell are selling. As for the agents who all approve of your price, where are they with buyer's offers?
We've had realtors in the home and all of them have said
1) the home is priced right at $389,000
2) properly staged.
3) Homes in my development have either sold or are selling at a higher price.
If these assertions are true... then why haven't you received any offers?
Something isn't adding up.
If these assertions are true... then why haven't you received any offers?
Something isn't adding up.
Bitter pill to swallow but if she's had showings it's really quite simple. It either needs a price reduction or a condition improvement.
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