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Sell my home strategy

2,731 Views | 15 Replies | Last: 3 yr ago by agywife
UmustBKidding
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3:11p, 3/22/22
I have a 5000+ sq ft 24 year old home in south College Station on close to 5ac. Like most homes of the age its ready from paint, carpet and upgrade of kitchen counters and paint. It has new AC and roof but most stuff it needs is something that is subject to personal preference. I can do these updates but personally think I would as a buyer prefer the opportunity to make my own choices.
I suspect if I get an agent they are going to push to do the upgrades and suspect it would likely sell without much effort for they potential 50K fee. So I would rather give a buyer the 50K so they could upgrade and have exactly what they want. I live and work here every day so its not a real flip candidate on a price and condition basis.
So is FSBO, fixed fee agent, or even an auction a better way forward. Not really ready to show today and would need a month or so to pack and move. Have asked several years ago but lost a few email responses. Thoughts? Or if want to talk offline my email is in my profile.
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JP76
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8:26p, 3/22/22
Hit up Jmazz on here



http://www.twelverealty.com/
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Red Pear Realty
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8:32a, 3/23/22
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I've been a forum sponsor for several years and would love a shot at your business. I charge a 1% commission for sellers, which I think is a good balance between a reduced fee and incentivizing us to get you the absolute top dollar for your home. Contact info in my profile.

The fact is that you will get between 50-75% of your listing views and leads from the MLS, so if you don't list it there, you will reduce your buyer pool by up to 75%. Can you sell it with a sign out front or a $40 listing on Zillow? Sure. But you likely won't create that auction like bidding process with multiple offers that you'd get with a good agent who knows what they're doing (like I did with two homes in Houston this week and another home in BCS last week). The two homes in Houston went for a great deal over asking price and incredible deal terms for my seller clients that would not have occurred without a good agent representing them.

Similar thing with the upgrades you referenced. The way to maximize your sales price is to remove all reasons for a buyer to say no. If there is something not updated, you can sell it, sure, but the buyer is going to price in not only the cost for the job, but possible amounts higher than that such as contingency, profit, or the "I don't know what this will cost so I'm going on I double it" risk factor. And that's if they are even willing to take on those projects. Many millennials and Gen Z want perfect right now and they are willing to go into massive amounts of debt to get it now.
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UmustBKidding
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In reply to Red Pear Realty • 12:32p, 3/23/22
I suspect the buyer pool is already small since the price will not be cheap. And I am currently trying not to have someone buy it today since leaving will take time which makes me less worried about getting it in MLS quickly. I don't need/want a bidding war or even to extract every last possible dime selling it.
Its not a likely Millennial or genZ house. Its not crazy high tech with automation driving lighting and things like that of course can be added if they want but those things are huge draws to some people and others and others no so much. Part of the reason I was thinking offering it at 50-75K less than the perfect condition price would give people the option to put their $'s into what they value. My kids millennial friends at Google/Apple/Facebook are buying at the top of their ability to qualify in Austin and their new houses are 200K less that spitball offers I have received.
I suspect the perfect buyer is someone that needs a big game day house (with the option to split lot and put another on property) and does not want to wait a year so would consider something like this that the upgrades could happen before football season or rolled in over a few years.
Ill try to reach out or my email is in my profile but just trying to figure out ways to move forward.
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Jinx
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In reply to UmustBKidding • 1:18p, 3/23/22
Out of curiosity, if a millenial or Gen Zer did make a reasonable offer on your home, would you consider it?
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NoahAg
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1:46p, 3/23/22
I'm just a caveman, but I would think with a property like that (which sounds awesome) and this market you wouldn't need to do any significant cosmetic upgrades to sell it in a reasonable time.

I would run some numbers on what those upgrades would cost, and let potential buyers do the same, and wait and see how they may factor those into the offers they submit.
Let's go, Brandon!
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evestor1
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2:17p, 3/23/22
never FSBO - it just doesnt work
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UmustBKidding
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In reply to Jinx • 5:00p, 3/23/22
Of course i would. I probably would even from far less desirables. When my son was here during covid it was sf bay area central with his friends that were remote at google facebook apple vrbo, etc living upstairs and it was fine but the complaints were things like only 200m internet and no automation, not indirect lighted ya da ya da ya da.
Things like stained wood cabinets are not their taste. What i am saying is any updates i do will not be to address that market segment
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FILO505
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In reply to UmustBKidding • 8:41p, 3/23/22
AG
Buyers want good bones/layout and good location. The rest of those upgrades go to the buyer or they get negotiated. Don't list low because somebody might not like the cabinets. Just closed with a client that's changing the kitchen, cabinets, AV system update from the 90s, etc. Still bought AAL despite the cosmetics. Unless your entire interior is purple, people will make it their own if they really want the house
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Medaggie
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1:39a, 3/24/22
9 out of 10 homes I see remodeled with attached higher asking price is just not my tastes and would remodel anyhow. I just bought a home that the owner probably paid $5K to pain a light yellow color that I immediately had to repaint. I prefer nothing done on the house and sold as is but I am likely the minority.

I do not see any issues with FSBO except you may under price the house. If its too high, at worse you can lower or relist later esp when you are not in a hurry.
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Texker
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3:35a, 3/24/22
AG
In a calmer market FSBO wouldn't be a problem if you are comfortable doing that, but in this market it wouldn't be my first choice. Could be wrong as I'm guessing a 5k sq ft home on 5 acres is going to narrow the buyer pool somewhat so might be easier to manage. Any idea of the listing price range?

I'm with Medaggie. I'm an experienced homeowner. I'm more interested in the bones and layout. I can see past the cosmetics that are easily changed. Those updates are eye candy designed to drive up the price and, in my experience, are typically subpar in terms of quality and workmanship. It makes no financial sense to pay for updates twice so I'd prefer the Seller just let it be so I can hire my trusted vendors to do things right.

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Rustys-Beef-o-Reeno
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In reply to UmustBKidding • 5:05a, 3/24/22
AG
You are all over the place, just talk with a realtor, any realtor fixed price or otherwise.

Have them do a mkt analysis for you and then just have a discussion. This is free btw.


If you like what you hear then list it.
If not find another realtor and then rinse and repeat until you find one that you like and can agree with on price and selling strategy.

Your goal is to have the biggest buying pool in order to sell your house quickly and for top dolllar. Don't over think that in this mkt.
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mwp02ag
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7:57a, 3/24/22
AG
Find an agent you like, get great photos and list it as in IMO. As mentioned you're looking for the biggest pool of buyers possible and MLS is where you'll find it.

Another consideration is the time it will take to sell FSBO vs MLS. In a rising interest rate environment you don't want to be lingering in the shallow end of the pool. I believe the rule of thumb is every 1% rare hike costs a buyer $10k in purchasing power which is going to further erode your buyer pool.
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Red Pear Realty
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In reply to UmustBKidding • 8:07a, 3/24/22
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I just sent an email your way. I'm in College Station today and would be happy to meet up at your convenience.
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UmustBKidding
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In reply to Red Pear Realty • 12:22p, 3/24/22
Good talking with you today.
Thanks
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agywife
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In reply to UmustBKidding • 6:32a, 8/8/22
if still available please text me, just beginning our search in South CS two 81 three 87 8181 thanks
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