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Message |
    
mem
Citizen
Username: Mem
Post Number: 2153
Registered: 5-2001
| | Posted on Wednesday, October 29, 2003 - 9:53 am: | 
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I am considering putting my home on the market in the Spring and I am looking into not using a realtor. Does anyone have any exprience with this? |
algebra2
Citizen
Username: Algebra2
Post Number: 1378
Registered: 5-2001
| | Posted on Wednesday, October 29, 2003 - 12:30 pm: |
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Mem -- my good friend sold her apartment without a realtor and is selling another one now. Basically she had an open house, got bids and then turned things over to her attorney.
But, now I am so curious .... you're selling? Tell tell. |
mem
Citizen
Username: Mem
Post Number: 2162
Registered: 5-2001
| | Posted on Wednesday, October 29, 2003 - 12:41 pm: |
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Alg - Wow! That sounds easy. How did she market her open house?
Anyway, I have been thinking of leaving since 9/11, and it's occurred to me how weary I am of certain things, like traffic, not so nice people, high taxes and cost of living, my career, and other stuff. I would like to be a farmer - go ahead and laugh but I have since I was little! How about Mem's Gourmet Tomatoes? |
algebra2
Citizen
Username: Algebra2
Post Number: 1379
Registered: 5-2001
| | Posted on Wednesday, October 29, 2003 - 12:50 pm: |
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Yes, I AM laughing .... you can't leave.  |
mem
Citizen
Username: Mem
Post Number: 2165
Registered: 5-2001
| | Posted on Wednesday, October 29, 2003 - 1:04 pm: |
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Well, at least I made you laugh...and when those Gourmet Tomatoes make it big I'll be laughing all the way to the bank! |
peteglider
Citizen
Username: Peteglider
Post Number: 313
Registered: 8-2002
| | Posted on Wednesday, October 29, 2003 - 2:00 pm: |
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I've sold 2 homes myself (without a realtor).
Start by doing LOTs of research on what houses are selling for/have sold for in your neighborhood. The house will take too long to sell if its over prices, and if its to low -- well, you might never know!
Then -- do all the things a realtor would tell you to do -- paint the front door, plant bright flowers, clean out the closets, etc.
At the same time -- call your lawyer to let them know what you're up to -- so you can get their help to draw up a contract for you the moment you get an offer.
Advertising? Well -- an open house notice in a couple of the larger papers around is a good way to begin. And post flyers in the grocery stores, etc. I also put flyers in all my neighbors mailboxes. And don't forget a sign on the lawn.
You might also want to put together a fact sheet on your home, ideally with a picture of the front of the house. People who are looking at many house will need a reminder about yours! And if they are not interested -- they may know someone who is.
Maybe you could throw in a few Gourmet Tomatoes to close the deal ;-)
Pete |
mayhewdrive
Citizen
Username: Mayhewdrive
Post Number: 458
Registered: 5-2001
| | Posted on Wednesday, October 29, 2003 - 3:22 pm: |
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In this market, I can't understand why anyone would use a realtor & pay those outrageous fees.
We bought our house as a "for sale by owner". The owner simply placed an ad in the NY Times with their phone number & people called to make appointments to see it. I'll never know for sure the response they got, but we bought the house the first week it was on market (after looking for several months & knowing what else was out there)
Once we made an offer, we shook hands & our attorneys really did the rest. We did have to deal directly with the owners to negotiate over things the home inspection found & it get a little testy at times, but overall it was a very smooth process.
The key has got to be having a good attorney.
Good luck! |
mem
Citizen
Username: Mem
Post Number: 2175
Registered: 5-2001
| | Posted on Thursday, October 30, 2003 - 9:28 am: |
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Thanks all - So far, I found the best time to sell is spring and early summer so families can get ready for Fall enrollment, so I will be looking at 2004, or 2005 if need be.
Thanks again. |
bobk
Supporter
Username: Bobk
Post Number: 3686
Registered: 5-2001
| | Posted on Thursday, October 30, 2003 - 9:59 am: |
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Mem, I suggest that you go to some open houses under the guise of "nosy neighbor" and pick up the brochures the Realtors prepare.
If you have a digital camera (or a scanner) and have basic computer skills making up a brochure should be easy. Be sure to include room dimensions and tax information.
My personal feeling is that most buyers are going to look to share the broker fee savings with you and will not pay as much as for a listed house.
Think marketing, marketing, marketing. |
Jackie Day
Citizen
Username: Zoesky1
Post Number: 150
Registered: 6-2003
| | Posted on Thursday, October 30, 2003 - 1:44 pm: |
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Don't forget to prequalify potential buyers just as a realtor would. Ask them up front if they have a commitment from a mortgage lender before you waste your time negotiating with them. |
alia
Citizen
Username: Alia
Post Number: 120
Registered: 5-2001
| | Posted on Tuesday, November 11, 2003 - 1:02 am: |
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May I drift your thread, please?
I put this in classified, but the more eyes to see it, the better:
Great Maplewood home for sale (we're moving within town): one week with no realtor, then I have someone to place it with (so no brokers, thanks)
FABULOUS LOCATION: On dead end street, across from Orchard playground, 2/3 mi walk to train
FABULOUS HOME: 5 bedrooms, 2 1/2 baths (master bath brand-spankin new, others updated), unusually large kitchen updated in 97, DR, LVR with built-ins and new mantle, Den, finished basement, all new windows, new outside doors this year. We've updated every room in the 8 years we've been here. And great neighbors, always a plus.
Call quick, Alia 973-275-0812 |
Cynicalgirl
Citizen
Username: Cynicalgirl
Post Number: 168
Registered: 9-2003
| | Posted on Tuesday, November 11, 2003 - 4:20 am: |
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I can certainly see how one could sell a house around here without a realtor. When we were looking last spring, the realtor we used turned us on to gsmls.com. The kind of info in there (including taxes but especially plentiful photos) made pre-shopping easy. As a result, our actual visit to the house was more a confirmation. Pictures and room dimensions, along with location info, tell the tale.
BTW, if you're not joking about the farming (in a small way), consider Delaware. Southern Delaware, about 20 minutes due west of the beaches around Rehoboth, is quite inexpensive. You can buy big old houses in the small towns (very Maplewoody) for cheap. Only thing is the "society" would not be what you're used to. You'd have to drive in a little to Lewes or similar to find more urban cultural amenities. |
mem
Citizen
Username: Mem
Post Number: 2229
Registered: 5-2001
| | Posted on Tuesday, November 11, 2003 - 12:14 pm: |
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Cynical,
Thanks - Looking this weekend in the Cooperstown NY, area. The prices are unbelievable, i.e., 170 acre farm, 4 bedroom, 2 bathroom refinished 100 year old home, 2 barns, 2 ponds, 1 creek, etc., $150,000. WHAT ARE WE DOING HERE??
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Jackie Day
Citizen
Username: Zoesky1
Post Number: 182
Registered: 6-2003
| | Posted on Tuesday, November 11, 2003 - 1:13 pm: |
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What are we doing here?
We're working in NYC and enjoying the amenities of a major metropolitan area. Have you ever been to Cooperstown before, Mem? It's incredibly isolated - more than one hour to either Albany or Syracuse, and believe me (having grown up in upstate NY and gone to college in Syracuse), neither city is anything too exciting. Unless you love baseball (Cooperstown is home of the baseball hall of fame), it's pretty and picturesque but FAR from everything. I would love it too - that land sounds amazing - but I couldn't find a decent-paying job within 200 miles. Nor could I find the museums, opera, plays, etc. that I like here. |
bobk
Supporter
Username: Bobk
Post Number: 3820
Registered: 5-2001
| | Posted on Tuesday, November 11, 2003 - 1:30 pm: |
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Now adays the only way you can make a living farming 170 acres is to grow Mary Jane. |
mem
Citizen
Username: Mem
Post Number: 2231
Registered: 5-2001
| | Posted on Tuesday, November 11, 2003 - 2:35 pm: |
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Bobk - How did you guess!
Jackie, Yes I've been to Cooperstown, my friend has all his factories up there and I really liked it. I know how isolated it is, and I enjoy that. Picture this - growing up the opposite of you here in the metropolitan area, and looking forward to getting out. Either way, I can't afford to quit my job right now, so I am looking at different options, i.e., rent it to tenants/farmers for a period of time, keep it for weekends, etc. It's only 3-4 hour drive - not like some of the real remote places I've been stuck in - Eden, Australia - Talk about far from NYC!
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Hlime
Citizen
Username: Hlime
Post Number: 2
Registered: 11-2003
| | Posted on Tuesday, November 11, 2003 - 2:52 pm: |
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Cynicalgirl
Citizen
Username: Cynicalgirl
Post Number: 171
Registered: 9-2003
| | Posted on Tuesday, November 11, 2003 - 3:01 pm: |
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In the '70's I gave up the chance to buy the family farmhouse up near Lake Hill, NY (a little north of Woodstock and Kingston) onaconna work. I've always regretted it, and rather think I should've picked the lifestyle, and figured out the money strategy to match it.
Sometimes we don't need as much dough as we think...I know my family is spending more now since moving to NJ and the metro NYC area than we used to in a more suburban area. Stress+commute=spending....I find |
mem
Citizen
Username: Mem
Post Number: 2232
Registered: 5-2001
| | Posted on Tuesday, November 11, 2003 - 3:25 pm: |
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Cynical,
Same here - gave up the chance to buy parent's lakehouse/hunting lodge in Ticonderoga.
Hlime: Photo reminds me of Eden, Australia, except there were no laughs, just plenty o' burps, hic-cups, dog/horse/grandma/wheelchair/anything with a pulse race track betting.
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mtierney
Citizen
Username: Mtierney
Post Number: 426
Registered: 3-2001
| | Posted on Tuesday, November 11, 2003 - 3:37 pm: |
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We sold a house by owner a couple of years ago and had no trouble - except dire warnings by realtors who stopped by with almost harassing frequency! It would be the end of the world as we knew it according to them! The realtors said our efforts would fail and we would wind up in trouble selling to folks who didn't have the money, etc. It didn't happen, but it could weaken your resolve.
We advertised open houses in the S-L , the NYTimes and maybe wasted some money on the Wall St. Journal internet classified.
Obviously you have to have the property in such good shape that you wonder why you're selling!
By all means print up a fact sheet with a picture of the house - easy enough to do and everyone entering the house will ask for one. When people are hitting a number of houses in one day, the picture fixes your house in their minds.
The eventual buyer was no dummy, they knew we would saving a chunk of change and we adjusted the asking price and their offer to reflect that. Upfront we said our attorney would make sure that all the legal points would be made as did the buyers attorney facilitate things.
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mtierney
Citizen
Username: Mtierney
Post Number: 427
Registered: 3-2001
| | Posted on Tuesday, November 11, 2003 - 3:43 pm: |
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P.S. I allowed many (and I do mean many) realtors to see the house even though they knew I was selling it. I'm sure they thought they would change my mind, and also, when I did give up, perhaps I would select one of them.
However, I learned a great deal from them, too, by just chatting about real estate! |
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