Hello,

I'm about to sell my house and I have been debating on what is the best way to sell my house and to get the most money possible.  FSBO seems like the way to get the most money but there's a lot of work involved and I have absolutely no sales experience.  I've considered using a RE agent but a 3% comission seems a little hefty..I've also heard about Redfin which is new, I think and they seem like a combo of FSBO and using agent. 

Has anyone had any experiences doing a FSBO or Redfin route or are there any great experiences with realtors or anything that can make my decision a bit more clear cut?

Thanks for any insight

-Unsure in Seattle

Unsure in Seattle,

You are asking all the right questions! Because it's a buyer's market, homes are taking a long time (compared to the the last few years) to sell. If you aren't in a hurry, you can do it on your own as a FSBO and just see how it goes before putting it on the MLS. If you are in a hurry, you'll get the most exposure to buyers by getting your listing on the MLS - but remember that just having it on the MLS doesn't guarantee anything. The price and showing condition are very important in how quickly it could sell. Do your legwork carefully when comparing RE options, all are not created equal and there are many pros and cons to consider!

Thank you for your response, Dena.  Your brought up a good point about the MLS, however I was under the impression that when posting on www.fsbo.com your listing was incorporated into the MLS, is this correct?

I guess if not going with a RE agent woudl really make sense since it seems like everyone looks on the MLS.

Oh, I didn't realize when you talked about FSBO you meant the company FSBO.com, I just thought you were talking about doing it yourself "for sale by owner". There are many 'FSBO' companies available to choose from that will do a flat fee posting of your home on the MLS. This particular company advertises a $499 flat fee service, but you also have to offer some commission to any agent who brings a buyer. That is a MLS rule for any home listed on the MLS system.  You can decide what you are willing to pay. On that note...many of the full service RE companies (ours included) will also do a flat fee listing service. Our cost is $599 and you can read about it on www.5starfsbo.net.  I can only speak for our company, but when we do a FSBO listing they usually get much more than a 'flat fee listing' because we are always available to answer questions, give advice, etc., our FSBO program is just to have it available for people who want to do it that way...

Dena-

Thanks...I'll definitely check out your companys site, I guess when I said FSBO I would like to do all the work mysefl but realize that having it on the MLS would make a big difference.  I didn't necessarily mean the company FSBO.

Thanks again...you (or someone in your office) may be getting a call from me.  Should I contact you directly or does the FSBO setup you have not have any comission built in so it doesn't matter who I call.

Feel free to give me a call at 253-334-9414. We can talk about all the options available out there for you, and I can explain how a flat fee FSBO program works, and what your responsibilities will be. You can also email me directly at denahilde@comcast.net. A little bit about our company, we are small by design. Our broker typically focuses on land/large development efforts, and my partner and I work mostly on residential and commercial. We work mostly through referrals, and like the service we can provide by being a small local company. I look forward to speaking with you further!

DEAR UNSURE-- SELLING YOUR HOUSE ON YOUR OWN IS FILLED WITH RISKS, WORRIES AND POSSIBLE LAW SUITES. PUT YOUR 6% ON TOP OF THE PRICE YOU  WANT TO WALK AWAY WITH AND HIRE A REALTOR, FOR INSTANCE  IF YOU ARE SELLING FOR $400,000 , START AT $425,000 THAT WAY YOU DON'T FEEL THE REALTORS COMMISSION (IF IT WILL APPRAISE OUT)MAKING SURE YOUR REALTOR HAS DONE A CMA (MARKET ANALYSIS) FOR YOUR AREA. IF YOU ARE STILL INSISTANT ON SELLING IT ON YOUR OWN , I HAVE A PAMPHLET THAT GIVES A STEP BY STEP PROCEDURE OF HOW TO SELL BY OWNER. SELLING YOUR OWN HOUSE IS LIKE GOING INTO COURT AND BEING YOUR OWN LAWYER--- BETTER KNOW WHAT YOU ARE DOING!!-- YOU CAN ALWAYS SUE THE REALTOR-- YOU PICK UP YOUR OWN TAB IF YOU MAKE A MISTAKE. IF YOU WOULD LIKE THAT PAMPHLET  YOU MAY REACH ME AT (425) 879-8957 CRAIG LEONARD   IF I DON'T HEAR FROM YOU GOOD LUCK!!

Craig:

I assume you mean a lawsuit?

I appreciate your advice but I think putting my 6% on top of the price that I want would make lots of people not even come see the house - the price would be too high!

Thanks for your help...with the market the way it is I just think using a Realtor may be hard for me to get what I want for the property.

-QuickSale

DEAR QUICK SALE-- GLAD YOU CAUGHT THAT LAWSUIT SPELLING(SORRY). THE AVERAGE HOME OWNER THAT STARTS OUT" FOR SALE BY OWNER" AND FINDS ITS JUST TO DIFFICULT, NOT ENOUGH ADVERTIZING OR EXPOSURE,THEY DON'T HAVE THE TOOLS AVAILABLE TO REACH THE RIGHT BUYERS, ETC. THIS MAY SOUND LIKE A DUMB SALES PITCH-- BUT REMEMBER THE SAYING" YOU GET WHAT  YOU PAY FOR?" MOST  HOME OWNERS THAT TRY TO TAKE THE CHEAPEST WAY OUT IN SELLING THEIR HOME  FIND THEMSELVES IN REAL TROUBLE. THEY TRY THE 1% COMPANYS, I WON'T MENTION ANY COMPANY NAMES ( ANYTHING THAT IS GOING TO SAVE THEM MONEY). THEY  GET 1% SERVICE-- THE COURTS ARE LOADED RIGHT NOW WITH THESE LAWSUITS--- I PERSONALLY WARNED SOME POTENTIAL CLIENTS ON THIS SUBJECT--THEY HAVE WASTED 5 MONTHS IN THEIR SALE AND SPENT TWICE THE MONEY. THEIR AGENT DIDN'T KEEP TRACK OF THE LENDER, WHICH FAILED --THEY HAD ALREADY MOVED OUT OF THEIR HOME AND WERE FORCED TO MOVE BACK IN. NOW THEY ARE TRYING TO RENT THEIR HOME OUT.  THE MARKET IS FILLED WITH HORROR STORIES LIKE THIS-- BE VERY CAREFUL QUICKSALE--- DO YOUR HOME WORK!!  YOU CAN LOSE TIME, ENERGY, AND HAIR NOT TO MENTION    " MONEY"  SELLING YOUR OWN HOME CAN BE A NIGHT MARE. MY OFFER STANDS FOR THAT PAMPHLET, BUT I'LL ASK YOU TO CALL ME FOR IT. CRAIG LEONARD (425)879-8957

Dear Unsure,

I think you need to consider having your home inspected (First) by a NACHI certified inspector, found at www.nachi.org . 

NACHI - National Association of Certified Home Inspectors [Largest association of its type in the U.S.]

A NACHI inspector that is working with the "Move In Certified" program, www.moveincertified.com     .

I believe that you can "Sell your home in seconds!" but whether you use a realtor, FSBO, etc. the home has to be priced right.

A realtor can definately help you towards that end, they are the professionals in this industry.  They do a lot of foot work but remember that you have the final decision in all matters

If you price your home realisticly, based on the true condition, you will have a minimum of challenges. 

To help you and your realtor, price your home realistically, and eliminate the 11th hour negotiations talk with a NACHI home inspector, they are there to look at your home with an unbiased eye.    I know if you don't the Buyer will find their own inspector !!

Just some thoughts, good luck

Your Family Home Inspector  

Dpawlisz-

Thanks for the advice, however isn't it up to the buyer to do the inspection (and pay for it), not the seller?  Why would I/should I pay for something that is generally paid for by the buyer...unless we agree to it in the contract?

Are you in the Seattle area?

Dear About to Sell,

What happens when a buyer does an inspection?  They will possibly find issues with the home, that you may not be aware of.  With this information the buyer has an advantage, especially in this market climate. 

With a seller "Pre-Listing" inspection you have done several things (just to name a few).

1.  Provide full disclosure protection from future legal claims

2.  Alerts you to items of immediate concern before anyone tours your home

3.  If no issues are found - can substantiate a higher asking price

4.  Gives the control to you (the seller) over 11th hour negotiations - especially during a buyers market

5.  Eliminates Buyer's unfounded suspicions - no home is perfect, yet it does not prevent you from marketing your home in its best light

6.  It gives you and your realtor - if you so choose - a marketing advantage

7.  It does not prevent a buyer from doing their own inspection, but gives you an advantage because you have more information (no suprises)

Keep in mind the inspection (as you are) - is not concerned about cosmetic issues, such as the color of the paint or a wall paper choice.

What an professional inspection offers is information on two major concerns -  Major Defects and the things that lead to major defects.  What negotiating position would you be in, if the buyer inspection found out that the heat exchanger in your furnace is cracked.  Advantage buyer.  It gives you the opportunity to repair or offer a rebate to the buyer, you have a price that you shopped for from several sources, not relying on the buyers cost estimates - which may be inflated.

You should be able to find a NACHI inspector that may offer you the opportunity of paying for the inspection report at closing.  The cost on a typical inspection is small compared to the peace of mind.  I do not know what the specific fees in your area are but, the cost of the ispection is typically [.0013%] of a home valued at $250,000 up to 2500 square feet, in my area.  Ask your inspector if he offers the "Move In Certified" program.  You can get some information at www.moveincertified.co

No matter what you decide, best of luck.

NACHI - Anyone else is just looking around!

Quicksale -

I definitely appreciate all that Dpawlisz had to say - all those points are very valid. My take on this changes with the market. Right now it's definitely a buyer's market (I am in the Seattle area) and with the exception of a few niche markets, houses and condos are taking much longer to sell than people are used to.

Because of this, people are using non-traditional strategies to try and make their homes appeal to buyers. Try and think of it that way instead of thinking of it as paying for something that the buyer normally pays for. Remember - the buyer wants to save a buck too. So if you've taken the care and initiative to pay for a quality home inspection and taken care or at least addressed issues that came up during it, it speaks highly to you as a seller and may differentiate you from your competition. In some cases, it may cause the buyer to waive their own inspection, saving you the inspection/negotiation process when they do their own. Even if the buyer still choose to do their own - you're still well equipped with information about your place and are less likely to be caught off guard with a major issue that can jeopardize your profits or your potentially higher list price that you were hoping for. Try to think of if that way.

In a hot sellers market, this isn't an issue that would come up. In 2005, I used to see buyers chomping at the bit to outbid each other on homes that no one had inspected yet! It's a different ballgame when the market changes and the ability to adapt to it is key to sell successfully, with or without a Realtor.

Feel free to ask questions if you have them!

Unsure in Seattle---The best way to sell your house is to price it right. Have you decided how you will come up with your price? Are you touring open houses to see who your competition is? -I know you want to make as much money as possilbe--every seller does. Just remember what you want for the property doesn't matter to any buyer. What matters to them is how much they are willing to pay for it.

If you want a free comparable market analysis let me know.

Rachel Pajaczek

206-909-6562

www.DiToProperties.com

i agree!