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Elizabeth
Mom of Three
Member since 9/05 7900 total posts
Name:
"MOMMY!!!"
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Anyone sell their house without real estate?
Part of me feels like I should give it a try. We have a very updated house with CAC, nice yard, good town & SD. Lots of positives. I know the market can be rough but I feel like ours has many positives and I am not emotional about the sale or work we have done. Just wondering what the negatives are to selling yourself.
TIA
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Posted 10/19/10 3:01 PM  |
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neener1211
:-)
Member since 4/07 22952 total posts
Name:
J
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Re: Anyone sell their house without real estate?
I have not sold a house by myself, but as a buyer, I'll tell you that I wouldn't even look at houses that were for sale by owner. We found a lot of them were overpriced compared to those in their neighborhood, and were turned off by them.
It seemed like more work as a buyer to have to search through FSBO houses. That's just the vibe we got.
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| Posted 10/19/10 3:19 PM |
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KimberlyScott
Graceyn=My World <3
Member since 10/08 4173 total posts
Name:
Kimberly
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Re: Anyone sell their house without real estate?
I sold my co-op by owner. I didn't have any negative experiences.
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| Posted 10/19/10 4:08 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Anyone sell their house without real estate?
Posted by Elizabeth
Part of me feels like I should give it a try. We have a very updated house with CAC, nice yard, good town & SD. Lots of positives. I know the market can be rough but I feel like ours has many positives and I am not emotional about the sale or work we have done. Just wondering what the negatives are to selling yourself.
TIA
actually in this market it's the short sales and bank owns that are selling a lot faster then "regular" listings
just something to consider!
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| Posted 10/19/10 5:31 PM |
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Kara
Now Zagat Rated!
Member since 3/07 13217 total posts
Name:
They call me "Tater Salad"
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Re: Anyone sell their house without real estate?
Tried it. Had a decent number of showings, but after 3 months, we just listed with a realtor. I'm very confident the realtor will be successful and the commission will be money very well spent.
FYI -- When we listed ourselves, all of our showings came from one of two places -- our neighbors (to whom we sent "newly listed" postcards) and MLS. So if you're going it alone, put it on MLS (where you will need to offer a commission to buyer's agents).
I also know some buyers and even some agents are hesitant to show FSBO listings... Doesn't make it rational or right, but it definitely was true in my experience.
ETA - My other piece of advice is to not underestimate a GOOD realtor's worth. Their networking alone is valuable -- They are always talking to other realtors about listings, etc. - something we don't do on a regular basis. Just something to consider from someone who tried it before listing with a realtor. Part of me thinks we'd have sold our townhouse already if we had a realtor from the get go, but obviously I don't know that for sure.
Message edited 10/19/2010 6:00:53 PM.
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| Posted 10/19/10 5:35 PM |
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Kara
Now Zagat Rated!
Member since 3/07 13217 total posts
Name:
They call me "Tater Salad"
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Re: Anyone sell their house without real estate?
Posted by Beth
Posted by Elizabeth
Part of me feels like I should give it a try. We have a very updated house with CAC, nice yard, good town & SD. Lots of positives. I know the market can be rough but I feel like ours has many positives and I am not emotional about the sale or work we have done. Just wondering what the negatives are to selling yourself.
TIA
actually in this market it's the short sales and bank owns that are selling a lot faster then "regular" listings
just something to consider!
So should I stop paying my mortgage?   TOTALLY KIDDING!
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| Posted 10/19/10 5:36 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Anyone sell their house without real estate?
Posted by Kara
Posted by Beth
Posted by Elizabeth
Part of me feels like I should give it a try. We have a very updated house with CAC, nice yard, good town & SD. Lots of positives. I know the market can be rough but I feel like ours has many positives and I am not emotional about the sale or work we have done. Just wondering what the negatives are to selling yourself.
TIA
actually in this market it's the short sales and bank owns that are selling a lot faster then "regular" listings
just something to consider!
So should I stop paying my mortgage? TOTALLY KIDDING!
ha ha- do not do that!
my point is that people can tend to think there house is "perfect" and that everyone will want to buy it without the help of a professional
the truth is that there is a lot of value in using a Realtor and what we can offer to the seller beyond just MLSLI
Message edited 10/19/2010 5:50:57 PM.
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| Posted 10/19/10 5:50 PM |
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Kara
Now Zagat Rated!
Member since 3/07 13217 total posts
Name:
They call me "Tater Salad"
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Re: Anyone sell their house without real estate?
Posted by Beth
the truth is that there is a lot of value in using a Realtor and what we can offer to the seller beyond just MLSLI
I totally agree with this.
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| Posted 10/19/10 5:58 PM |
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Erica
LIF Adult
Member since 5/05 11767 total posts
Name:
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Re: Anyone sell their house without real estate?
I just couldn't imagine all the phone calls and showings. Having the receptionist call us was enough, I couldn't imagine calling potential buyers back and juggling times.
I also hear that most calls you get from a FSBO are from REAs trying to get you to list.
And you still need to offer 2% to the buyer's agent if you want agents to bring clients to your house. (If it were 5-6 years ago, FSBO could sell at an open house and be easy, but not in today's market) - so really think about what the extra 2% is for a selling agent and then decide if it's worth the agita.
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| Posted 10/19/10 7:52 PM |
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DiamondGirl
You are my I love you
Member since 7/09 18802 total posts
Name:
DiamondMama
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Re: Anyone sell their house without real estate?
I know quite a few people who have. It can't hurt to try it, if it doesn't work out you can always go with a REA 
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| Posted 10/19/10 8:11 PM |
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Mrs213
????????
Member since 2/09 18986 total posts
Name:
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Re: Anyone sell their house without real estate?
Personally I wouldn't have the patience to do all that leg work if I was the seller. As a buyer, we never looked at FSBO homes. We passed by a few, but could never seem to find them on the website. Tough to get info on them...
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| Posted 10/19/10 9:05 PM |
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Elizabeth
Mom of Three
Member since 9/05 7900 total posts
Name:
"MOMMY!!!"
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Re: Anyone sell their house without real estate?
Posted by Beth
my point is that people can tend to think there house is "perfect" and that everyone will want to buy it without the help of a professional
the truth is that there is a lot of value in using a Realtor and what we can offer to the seller beyond just MLSLI
What does the RE agent offer if they are good? I honestly don't know - this is the first house we are selling and am looking for feedback bc I don't know what to look for. I have a friend who does RE, we have recently become friends through our sons so I don't have a feel for her skills, Dh seems to think it doesn't matter, which just cannot be true, that makes no sense to me, esp in this market.
I do agree that many people think their house will sell like magic. That's why I said I know not to be emotional about it. But our entire house has been updated in the past 4 years including siding, room, CAC, kitchen, bathroom, main floor, backyard, windows, doors, etc. so that must be more attractive, if priced right, than something that is old or outdated. Maybe I'm wrong though, I can also see people preferring to buy cheaper and do it all to their exact liking.
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| Posted 10/19/10 9:09 PM |
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Karen
Just chillin'!!
Member since 1/06 9690 total posts
Name:
Karen
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Re: Anyone sell their house without real estate?
Posted by Erica
I also hear that most calls you get from a FSBO are from REAs trying to get you to list.
yep, that was our experience trying to sell the condo FSBO. At least 75-80% of the calls we got were from REA's.
Also - for many potential buyers, MLSLI is THE place to look for houses. As a FSBO, you just can't compete with that, no matter how many ads you put on Craiglist or FSBO.com or Newsday. The only time we had any success with an Open House for our condo was if a neighbor with a realtor was also having an Open House and we could piggy-back off theirs. IMO, you just will not get the traffic if you're not on MLSLI. If you do put an ad on MLSLI, you will owe the buyer's agent a commission anyway, so for another few percentage points, just go with a realtor.
Message edited 10/19/2010 9:29:55 PM.
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| Posted 10/19/10 9:25 PM |
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EricaAlt
LIF Adult
Member since 7/08 22665 total posts
Name:
Erica
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Re: Anyone sell their house without real estate?
Yes, we're doing that right now and we're really getting a lot of pple. Saves both of us money and no worries with a middleman,
so far it's going smooth
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| Posted 10/20/10 8:20 AM |
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philsdeezy
LIF Adolescent
Member since 12/06 643 total posts
Name:
Dee
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Re: Anyone sell their house without real estate?
Hi Beth, What do you think about this house? It is a short sale, but I think it's a bit low for the area. MLS# 2332234
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| Posted 10/20/10 9:04 AM |
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Kelly9904
Mommy to 2 amazing little boys
Member since 5/05 9306 total posts
Name:
Kelly
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Re: Anyone sell their house without real estate?
Posted by DiamondGirl
I know quite a few people who have. It can't hurt to try it, if it doesn't work out you can always go with a REA
This is the way I feel. We bought a FSBO in 2006. It was a VERY smooth transaction and by 2006 standards we didnt over pay.
THe owners had actually called a realtor to come and evaluate the house she gave them a #. But for a few reasons they decided to list it themselves for 2 weeks before signing with her. THey took the price she gave them and took about 25K off and put an ad in Newsday as well as a sign on the lawn. They had 2 open houses in 1 weekend and had 2 offers.
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| Posted 10/20/10 9:56 AM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Anyone sell their house without real estate?
Posted by Kelly9904
Posted by DiamondGirl
I know quite a few people who have. It can't hurt to try it, if it doesn't work out you can always go with a REA
This is the way I feel. We bought a FSBO in 2006. It was a VERY smooth transaction and by 2006 standards we didnt over pay.
THe owners had actually called a realtor to come and evaluate the house she gave them a #. But for a few reasons they decided to list it themselves for 2 weeks before signing with her. THey took the price she gave them and took about 25K off and put an ad in Newsday as well as a sign on the lawn. They had 2 open houses in 1 weekend and had 2 offers.
you can not compare the market in 2006 to the market today
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| Posted 10/20/10 11:24 AM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Anyone sell their house without real estate?
Posted by Elizabeth
Posted by Beth
my point is that people can tend to think there house is "perfect" and that everyone will want to buy it without the help of a professional
the truth is that there is a lot of value in using a Realtor and what we can offer to the seller beyond just MLSLI
What does the RE agent offer if they are good? I honestly don't know - this is the first house we are selling and am looking for feedback bc I don't know what to look for. I have a friend who does RE, we have recently become friends through our sons so I don't have a feel for her skills, Dh seems to think it doesn't matter, which just cannot be true, that makes no sense to me, esp in this market.
it matters- a lot of people call themselves real estate agents or realtors and they have no clue about anything
I will do my best to put this into words- it's not just a marketing plan or knowledge
it's an overall passion for the business- which in this market is not that easy to find
I would advise to meet with 3- you'll be able to spot the right person
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| Posted 10/20/10 11:29 AM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Anyone sell their house without real estate?
Posted by philsdeezy
Hi Beth, What do you think about this house? It is a short sale, but I think it's a bit low for the area. MLS# 2332234
very good price for the area
my only concern is that they having the buyer pay for the short sale neg. $2195
If I was representing the buyer I would want to have a say in who was neg. the short sale since we are paying
I have never seen this on a short sale listing before- the fee is paid by the bank on the HUD-1 so this raises a red flag to me
I would be asking lots of questions of the other agent
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| Posted 10/20/10 11:36 AM |
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w8andsee
LIF Adult
Member since 10/09 1193 total posts
Name:
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Re: Anyone sell their house without real estate?
I bought and sold 2 years ago without a real estate.
It worked out for me.
As for the selling part (sold my coop), I had to be proactive and find out all the information from the boards regarding approval process, flip tax, maintence fees etc. Basically you need patience and you have to make sure you answer all phone calls and emails at a timely manner. Also I made sure that someone was always with me when sellers wanted to view the apartment.
As for the listing price, I looked up what was selling around me and what actually sold and made a decision from there. It took about a month to find a seller and the negotiated price was 6% less than listing price.
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| Posted 10/20/10 12:06 PM |
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maybesoon
LIF Adult
Member since 9/09 5981 total posts
Name:
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Re: Anyone sell their house without real estate?
we tried for like a month but wound up going w a realtor. it was too much work. we got an offer but they couldn't get the mortgage, just too aggravating. you should try and see how it goes, if not going well then you can get ar ealtor
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| Posted 10/20/10 12:58 PM |
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lizzie0612
LIF Infant
Member since 2/09 154 total posts
Name:
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Re: Anyone sell their house without real estate?
We sold our co-op without the aid of a realtor. There were a few other units for sale in the complex so we priced it competitively. We placed an ad in Newday advertising an open house the first weekend. That weekend we received a full-price offer from someone who saw an ad in the paper, and took it. So, for us, it was painless. Our feeling was that we had nothing to loose by trying. If it didn't work, we could always then decide to use a realtor.
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| Posted 10/20/10 3:04 PM |
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Re: Anyone sell their house without real estate?
Just list it with some one you know and trust. They will do a great job for you and according to the national association of realtors, seller it for 15% higher than selling it yourself.
A couple of good Realtors with LIF. You can't go wrong. Put out a post and see. We all take care of our LIFamily members
Good Luck,
Arthur
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| Posted 10/20/10 9:36 PM |
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Charly
LOVE!
Member since 5/05 12578 total posts
Name:
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Re: Anyone sell their house without real estate?
Posted by EXIT Realty Achieve
according to the national association of realtors, seller it for 15% higher than selling it yourself.
This statement ALWAYS confuses me. HOW does one know what a realtor could have sold it for if it was sold by the owner? What is the basis of that statement?
I'm selling using an agent now - we have been on the market since July with only 3, yes 3, showings (I'm in Putnam, not LI.) We are competivitely priced and have done everything the broker has asked us to do. I'm about to pull it off the market and try FSBO for a lower price.
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| Posted 10/21/10 2:21 PM |
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Teri
my girls!
Member since 2/06 1491 total posts
Name:
Teri
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Re: Anyone sell their house without real estate?
I agree with the PP who said most FSBOs are really high overpriced - one in the area we wanted was easily $80k over market price. he showed it for about a week and then went with an agency. (and the price dropped appropriately)
I personally would never want the headaches.
Message edited 10/21/2010 8:23:01 PM.
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| Posted 10/21/10 8:22 PM |
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