We bought it for $60K and hope we have about $10K in equity built on the house. We have not yet had it appraised and aren't sure what costs would be involved either. Are there companies that sell inexpensive but effective marketing tools?
2007-11-23 11:36:53 · 9 answers · asked by RegainingFinancialControl 1 in Business & Finance ➔ Renting & Real Estate
if you have to ask, you need a realtor.
The truth is you can't afford NOT to use a realtor. On a $60,000 sale, the realtor commission would be $3,600 (6%). However, all the costs would come out of this.
If you had a $600,000 house it may make sense.
The costs to sell a $60,000 vs $600,000 house would be about the same. By the time you play at trying to sell your house and spending several thousand dollars in the process, you will use a realtor and STILL pay the 6%.
2007-11-23 11:44:17 · answer #1 · answered by Anonymous · 0⤊ 0⤋
There are plenty of FSBO gimmicks out there, most are limited service agencies based on you paying a flat fee up front, they give you some signs and forms, you pay everything to advertise and such. Simple, yes. Effective - not that I've seen.
One house near where there are several homes listed with traditional RE agencies is with a limited service agency and it is $30,000 more than the similar houses in the neighborhood. Which is OK by me, because my listings look better priced.
My point, pricing is key. If you price high for negotiating room, you may price yourself out of the market.
Appraisals in my area are $400 - $500.
Costs involved in selling a house: advertising, making flyers, signs, and whatever else you do to market the property.
I'd suggest you go it alone first, advertise in the free sites, make inexpensive flyers, hold open houses - things that don't cost you money. If you have the inclination to try a limited service agency after this, go ahead.
If you get frustrated, you can always contact a Realtor.
2007-11-23 11:47:58 · answer #2 · answered by godged 7 · 0⤊ 0⤋
Before I make this recommendation, I will say that having a realtor represent you is immensely valuable unless you are an expert hardball negotiator. It is a buyers market, and it is likely that a savvy buyer will be able to talk you down by convincing you that you were going to pay a realtor 6% anyway - that is how savvy buyers look at for sale by owners properties - as opportunities to get a discount.
That said, here is a book that is written to help people that are trying to sell their own home. It also points out that 80% of the people that try to sell their home end up using an agent. If money is that big of an issue, use a discount service such as Help U Sell or "Save 6"
Here is the link to the book web site:
http://www.atozlender.com/FSBO
2007-11-23 18:45:46 · answer #3 · answered by Anthony 3 · 0⤊ 0⤋
This is a risky market to be a FSBO. I can understand you want to maximize your limited equity, but a good realtor can make a huge difference for you. Maybe you can try marketing directly to the successful realtors in your neighborhood first, if they bring a buyer you can pay them half the standard commission. If your top commission is $4,900 on a $70k sale, just make your price $75,000 and hire the realtor full time or $72,500 and do your FSBO.
Otherwise, to answer your question, Help U Sell may be an option. Good Luck.
2007-11-23 12:13:42 · answer #4 · answered by 4Seasons 3 · 0⤊ 0⤋
Selling a house is so much more than marketing - I would follow the advice of all the other posters and get a realtor.
IMHO the only people who have luck without realtors live in very high demand markets like San Francisco, where listings sell in a few days.
2007-11-23 12:42:10 · answer #5 · answered by katlanta 2 · 0⤊ 0⤋
In order to sell your house 'effectively' without real estate brokerage representation, you do the same things a real estate agent would do. Advertise the property for sale, using whatever means are at your disposal. Certainly a yard sign is a good start, along with advertisement in your local newspaper. If you want MLS exposure, you're going to have to list with at least a minimum service firm, which will provide you nothing BUT MLS exposure for a set real estate fee.
Prepare the house as you would expect to see a house if YOU were in the market to purchase. Clean, decluttered, and looking like a model home. Then prepare to start showing the property to prospective purchasers. If you opt to get MLS exposure, you're bound to attract some buyers who are represented by agents, so be prepared to pay the agent of the buyer who might purchase the home.
2007-11-23 11:46:10 · answer #6 · answered by acermill 7 · 0⤊ 0⤋
Yeah people will be knocking down your door to sell at a discount, but yet use the best marketing tools. Now does that even sound like it makes sense? You get what you pay for.
Hire a Realtor
2007-11-23 11:48:57 · answer #7 · answered by frankie b 5 · 0⤊ 0⤋
If you want to sell it without using a Realtor, do what a Realtor would do.
First make an e-flyer and post it on the internet
You can make an e-flyer at http://www.Postlets.com
Then you get to post it to the following web sites.
Whomever said being a Realtor was just driving people around were dead wrong.
1. http://www.Zillow.com
2. http://www.BackPage.com
3. http://advertising.superpages,com
4. http://expo.live.com
5. http://www.craigslist.com
6. http://www.kijiji.com
7. http://www.classifiedads.com/real_estate
8. http://www.google.com/local/add
9. http://listings.local.yahoo.com/csubmit/
10. http://www.yellowpages.com
11. http://www.Zadzoo.com
12. http://www.LiveDeal.com
Good Luck
Terry S.
http://www.Welcome2Arizona.com
2007-11-23 12:14:02 · answer #8 · answered by Terry S 5 · 0⤊ 2⤋
"Inexpensive but effective?" Well, since you usually get what you paid for... I'm sure you know what the answer is.
2007-11-23 12:59:34 · answer #9 · answered by REALTOR 3 · 0⤊ 0⤋