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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: freeus who wrote (3576)	9/25/2000 1:07:49 PM
From: adairm	Respond to of 65232

Freeus: Got your PM, I'll send you the stuff tonight. I'm not at my home computer today... About selling yourself... Since you're not in a hurry, you could try selling yourself. I do it all the time. In fact, the last house I sold, I wasn't even trying to sell it! (Actually, it closes this Friday.) We were advertizing to rent it, and this nice couple really wanted to lease option to buy it. Well, to make a long story short, we didn't want to lease option it because the prices are rising, so we didn't want to lock in a price or have to figure out a formula for determining a future price. (In fact, we really weren't looking to sell at all!) But, hey, we decided that we could use the money to pay off debt on other properties, and this house isn't our best built house, so we steered them into getting a loan, and we're selling for a 100% profit in about 1 1/2 years. If your tenant doesn't want to buy, and you like the lease option idea to defer the sale until you can relocate and 1031 into another property, then advertize it as a lease option or "Rent to Own", as "Owner Financing". (Look out, your phone will ring off the hook!) Selling lower priced property (first time home-owner type) property is pretty easy Do-it-Yourself. These buyers are looking to save a buck. The upper end stuff, well, the buyers just expect you will have an agent, they'll probably have an agent, and they just won't bother reading the newspapaer ads, they'll have an agent tote 'em around until they find what they want. However, it's worth a shot to try it yourself. Try running ads for a month and see what kind of response you get. One of the main things an agent can help you with is setting the market price. This is based on comparable sales in the neighborhood. Agents can easily pull this from the MLS, but it's public record. A game you can play is to "interview" several competing agents and realestate brokers who are the dominant brokers/agents in the area, and have them tell you what they think you should ask for your property. Then try to market the place on your own for a month or so. If it sells, great! You saved the commission. If not, then you can go back to the best agent and have them market it. Hey! I just found out that a house I flipped 3 years ago is back on the market for $100,000 more than what I sold it for! Wow! That's great because I own another house 2 doors down! What a country! Adairm@realestateagentshateme.com