# advice on selling homestead



## arriss (Mar 21, 2010)

I would love to have some advice on other people's experience with selling their homestead. I have 2.6 acres zoned agricultural on the northern outskirts of Crestview, FL. Crestview is approx 35 miles north of Destin, FL. This has been my home for 26 years and I love it, but when my husband retires in the next year we plan to downsize and move over to a neighboring county on some land that we own that is closer to my homesteading son. We are looking at selling this property on our own if possible rather than going through a real estate agent. This property would appeal more to people who are trying to be self sufficient homesteaders as it has established garden spaces, chicken pens and associated housing, large barn, big metal storage building, fruit trees, private well etc. Most of the people in our area are only looking for a big, fancy house rather than a homestead possibility.

Any advice on how to maximize exposure to people who would be interested in this type of property would be appreciated.


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## John_Canada (Aug 17, 2013)

Get a custom sign for the property (do not use a hardware store sign you pen in the address). Look on craigslist for a signmaker. Cost about $25 to get a custom vinyl/coreplast sign.

Definitely sell yourself. There are some DIY sales services that include a listing on the Multiple listing service here that I am sure are almost everywhere now. You may have to pay an agent that brings you a purchaser say 2% to 3% but that is up to you. 

Use landwatch and of course craigslist. Also maybe advertise up into Canada as there are plenty of 'snowbirds' maybe looking for something like that. Try Kijiji.ca for that...it is more popular than CL here.

Get REALLY good pictures...never enough...make website with them on if you have to. Panos if possible.


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## Cyngbaeld (May 20, 2004)

You can list for free on zillow.


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## arriss (Mar 21, 2010)

John in Canada Thank you so much! Great points and I appreciate your response


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## arriss (Mar 21, 2010)

I did not know about zillow as a listing possibility. Thanks for your help !


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## Outdoors (Jun 21, 2011)

I already have the website with lots of pictures but I do appreciate the other advice.

http://HomeWithProperty.com

Roger


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## Guest (Dec 2, 2013)

Unless you are willing to deal with a million tire kickers I would advise you to use a realtor . Been there , done that , never again .


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## edcopp (Oct 9, 2004)

Hire a competent agent, and then stay out of the picture and let the agent work.

You have an emotional attachment to your home of 26 years. The agent does not.

The first time that someone utters a negative comment about your property you will start an argument, and kill any deal that may have been possible.


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## sunny225 (Dec 4, 2009)

edcopp said:


> Hire a competent agent, and then stay out of the picture and let the agent work.
> 
> You have an emotional attachment to your home of 26 years. The agent does not.
> 
> The first time that someone utters a negative comment about your property you will start an argument, and kill any deal that may have been possible.


Maybe some folks have a good experience with realtors. We did not & cancelled our contract with them after 3 1/2 months. They did their same old same old "marketing" techniques that may work with your cookie cutter 3 bedroom house in a subdivision. It doesn't work for a property that is a homestead/BOL/ preppers home.
We will put ours back on the market in the spring without a realtor.
Good luck selling your place. Crestview is a great town!


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## edcopp (Oct 9, 2004)

The key word is "competent".


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## wharton (Oct 9, 2011)

edcopp said:


> Hire a competent agent, and then stay out of the picture and let the agent work.
> 
> You have an emotional attachment to your home of 26 years. The agent does not.
> 
> The first time that someone utters a negative comment about your property you will start an argument, and kill any deal that may have been possible.


 Lots of issues with this whole post, including the alleged "fact" that OP is too emotionally immature to be able to deal with selling their own property. Apparently due to your diagnosis that they WILL be suffering from attachment issues. You then decide that OP IS going to engage in arguments with any potential buyers if anything negative is mentioned, which will kill any deal. 

WOW, that sure is a different way of looking at things. 


The OP is correct in asking for opinions as to the best way to move an unusual property. Realtors are a real mixed bag, and based on decades of experience, I have come to the conclusion that a significant minority of them are less than worthless. IF you do decide to list the property, work hard to find an agent with a good reputation, and a proven record of selling rural homesteads, hobby farms, etc.... If you plan on continuing to market the property yourself, and chose to list, MAKE the agent sign a split commission agreement. If you bring a buyer to the table, they cut the commission in half. I have sold countless spec. houses this way, and saved a pile of money do so. Many agents, and even some brokers will tell you that they cannot do it. Just thank them for their time and tell then you will find one that will. Never had one who refused, once I made it clear that this is how it going to be. Good luck.


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## Pony (Jan 6, 2003)

Be sure to use a lawyer, and get everything - EVERY thing - in writing. 

We had a negative experience even with a lot (but not EVERYthing) in writing. 

CYA.


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## Outdoors (Jun 21, 2011)

We had two "competent" realtors, the first with a boutique firm specializing in these kinds of properties.

She spent about $800 out of her pocket for an appraisal and a timber appraisal.

But after six months, not even one qualified looker.

Yet, she had some interest and was wise enough to "pre-qualify" them before wasting our time.

The second realtor was from the biggest local realtor agency with a history of selling expensive properties.

He did NOT pre-qualify and as a result we had several lookers who who were time wasters, which was a huge hassle given that I had to arrange for a relative to drive 1.5 hours round trip to open the house, check everything out (for dead bugs, gross toilets, etc) and then follow the realtor around and shut off lights and lock up (we had moved already far away)

For a commission that well tops $40k, I think we are entitled to expect a bit more than just an MLS listing (in a world of multiple MLS "regions" making it sometimes hard to find our listing).

I did Facebook ads and other website ads that the realtor had no clue about.

Not to mention the website, YouTube channel, etc.

Realtors need to catch up with the times and do more than list it and sit back waiting for the phone to ring until it's time to cash the check.


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## edcopp (Oct 9, 2004)

wharton said:


> Lots of issues with this whole post, including the alleged "fact" that OP is too emotionally immature to be able to deal with selling their own property. Apparently due to your diagnosis that they WILL be suffering from attachment issues. You then decide that OP IS going to engage in arguments with any potential buyers if anything negative is mentioned, which will kill any deal.
> 
> WOW, that sure is a different way of looking at things.
> 
> ...


Based on my decades of experience, "Competent" is still the key word.


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## ChristieAcres (Apr 11, 2009)

edcopp said:


> Hire a *competent agent*, and then stay out of the picture and let the agent work.
> 
> You have an emotional attachment to your home of 26 years. The agent does not.
> 
> The first time that someone utters a negative comment about your property you will start an argument, and kill any deal that may have been possible.


As a Realtor myself? I wouldn't do a FSBO, even with ten years of experience! I will hire a Realtor to list our home when it is time, despite having sold properties of my own before (even before being licensed in real estate). Your warning was worded strongly and very literally, but is true most of the time for most folks. I could see it was out of concern and a warning... We all get attached to our homes/properties and that can lead to being defensive when there are criticisms, quite naturally. That is why I strongly encourage Sellers and Buyers not to speak at all until after the Closing, if possible. I have witnessed this over and over, even if I warned the Clients. The result was often a deal-killer. It wasn't lack of disclosure or immaturity either, but something said that caused it!


I listed a well built custom home last year. The Seller was a very gifted detail oriented guy and that home showed it! He and his wife really loved their home and took meticulous care of it. Although I explained to him it was wise not to meet the Buyers, he insisted on being there to answer questions one day. While they talked, he told them if there were any issues in the Home Inspection, he would make the home "right." Sounds innocent enough, right?! These Buyers completed their Home Inspection and asked for every single minor repair issue to be resolved, citing what the Seller said to them verbally. In fact, what would have been a small section of roofing needing to be replaced years down the road In fact, he told me that he had given his word and would abide by that. It ended up snow-balling into an entire roof replacement. Yes, the Seller could have refused at that point, but would have lost the sale and he knew it. I did negotiate to get 50% paid by the Buyer, but bring this story and a few others up to every single Seller I work with. 

Just before a showing at a nice property, I asked my Buyers not to speak to the Sellers, who were present at the property. In fact, I told the DW not to say a word about selling their home (I had just listed it, was in a waiting list military school area, so selling it would be fast). She walked right up to the Seller's DW and began chatting with her, to my horror. Before I could engage her and draw her away, my Buyer blurted out she was selling her home and had just listed it. The Seller turned and walked over to me, saying, "Do not write up an Offer, because I won't sell my home to your Buyer." Her Agent confirmed this Seller had a bad experience with a Sale Contingent Offer... Sadly, my Buyer wanted the property, and it was not going to be a Sale Contingent Offer! Despite clarifying this with the Seller's Agent, it still wouldn't fly, as she would not budge.

Yes, some folks do just fine selling their own properties, but I feel most would benefit greatly utilizing a competent Realtor. If that option is chosen, being* referred to a good one* is the best way to go. Since I sold FSBO, used a Realtor, and have been my own Realtor, I am just writing via my different experiences.


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## wharton (Oct 9, 2011)

edcopp said:


> Based on my decades of experience, "Competent" is still the key word.


 So this "experience" includes determining that a seller, on a forum asking advice, is mentally unstable enough that the first time a potential buyer makes a negative comment, they will go off the deep end and kill the deal. That's pretty amazing experience. Must be one magical cup of coffee you got there.


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## edcopp (Oct 9, 2004)

wharton said:


> So this "experience" includes determining that a seller, on a forum asking advice, is mentally unstable enough that the first time a potential buyer makes a negative comment, they will go off the deep end and kill the deal. That's pretty amazing experience. Must be one magical cup of coffee you got there.


O.K. SMART @SS , explain to me why I am wrong.

Mine's not bigger N' yours, but probably better.

A ----'n contest this ain't until I stoop to join you, Mr. KNOW IT ALL.


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## edcopp (Oct 9, 2004)

lorichristie said:


> As a Realtor myself? I wouldn't do a FSBO, even with ten years of experience! I will hire a Realtor to list our home when it is time, despite having sold properties of my own before (even before being licensed in real estate). Your warning was worded strongly and very literally, but is true most of the time for most folks. I could see it was out of concern and a warning... We all get attached to our homes/properties and that can lead to being defensive when there are criticisms, quite naturally. That is why I strongly encourage Sellers and Buyers not to speak at all until after the Closing, if possible. I have witnessed this over and over, even if I warned the Clients. The result was often a deal-killer. It wasn't lack of disclosure or immaturity either, but something said that caused it!
> 
> 
> I listed a well built custom home last year. The Seller was a very gifted detail oriented guy and that home showed it! He and his wife really loved their home and took meticulous care of it. Although I explained to him it was wise not to meet the Buyers, he insisted on being there to answer questions one day. While they talked, he told them if there were any issues in the Home Inspection, he would make the home "right." Sounds innocent enough, right?! These Buyers completed their Home Inspection and asked for every single minor repair issue to be resolved, citing what the Seller said to them verbally. In fact, what would have been a small section of roofing needing to be replaced years down the road In fact, he told me that he had given his word and would abide by that. It ended up snow-balling into an entire roof replacement. Yes, the Seller could have refused at that point, but would have lost the sale and he knew it. I did negotiate to get 50% paid by the Buyer, but bring this story and a few others up to every single Seller I work with.
> ...


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## Outdoors (Jun 21, 2011)

I still don't have any idea how to go about finding a competent agent.

You interview a prospective agent and they naturally tell you everything you want to hear. You sign a 6 month (or more, since they insist on large properties) contract and find out they are just like all the others and their only idea on how to sell your property is for you to lower your price.

Is it wrong for me to expect a lot of work when the commission on the deal (before being split up, I realize) is $20,000, $30,000, $40,000 or even more?


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## ganoosh (Dec 6, 2009)

As am agent myself I will chime in with my 2 cents.

It is a long shot as to whether or not the agent you hire will be competent unless you have personally worked with them or a close friend/family member has and they can explain in detail what they did. There is a saying in the business that 80% of the homes are sold by 20% of the agents. This is due to work ethic, follow up, and general networking ability of the agent.

A good agent will do a lot of work marketing the property at their own expense but unfortunately not all properties will sell for what you think they are worth. Think of it this way, the seller wants to sell the house for the most possible, the buyer wants the exact opposite. Who is correct about the price? Neither, its somewhere in between.

On pricing, it is generally better to price it what the comps come in at rather than higher for a few reasons, if comps are hard to come by may be wise to pay for an appraisal to see what they value the house at.

1.The comps are the best measure of what the current going price for the property is which will translate to what the house is appraised for and the lender will be willing to loan money for making it possible for a buyer to purchase the house. 
2. Chasing the market is generally a poor strategy, buyers see the price reductions and if you they aren't extremely motivated to buy your property and it has been on the market for a long time why not wait to see what else is out there. Also they will send you an offer lower than your reduced price because if you lowered it once or twice why not some more.
3. Listing high and trying to make a few thousand more dollars may mean that you are in the house for a few months longer. How much is your loan payment and how many payments will it take for you to be at a net loss? Unless you own the house outright or are in the last few years of your loan, most of your payment is going to interest which you will not recover after the sale of your house. 

Now how to pick a good agent? Pick a few and have them do a listing presentation for you. Do you like them, do they come across friendly, if not they may be difficult to work with not only for you but other agents and believe it or not other agents may steer clear of them due to their behavior. They should tell you what they will be doing to market the property, one will probably state they will do more than the others and if not then its a personality thing. Ask them why you should choose them, remember you are hiring them to do a job not the other way around. If they are not performing what they stated they would then you have ways out of the contract. If no one is even looking at the property, it is most likely priced to high. If people are looking but no offers probably some issues with property. 

Remember everything will sell at the right price, the tricky thing is finding that price and being ok with selling your house for it. Buying and selling is a highly stressful and emotional process for most people, try and remember that your home is where you make it not a particular piece of property.


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## ChristieAcres (Apr 11, 2009)

> It is a long shot as to whether or not the agent you hire will be competent unless you have personally worked with them or a *close friend/family member has* and they can explain in detail what they did. There is a saying in the business that 80% of the homes are sold by 20% of the agents. This is due to work ethic, follow up, and general networking ability of the agent.


There you go, just get a referral from a good friend or family member who was happy with their Realtor!


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## farmerj (Aug 20, 2011)

Anyone you hire is going to be focused on one thing. Getting themselves the biggest paycheck they can get.

Only one watching out for you, is you. Including a lawyer.


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## ChristieAcres (Apr 11, 2009)

Outdoors said:


> I still don't have any idea how to go about finding a competent agent.
> 
> You interview a prospective agent and they naturally tell you everything you want to hear. You sign a 6 month (or more, since they insist on large properties) contract and find out they are just like all the others and their only idea on how to sell your property is for you to lower your price.
> 
> ...


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