August Listings

Market looks great. List your property asap.

I say list it now. If it is well priced, it will sell regardless of the timing.

So much depends on what market segment you are in, and who your buyers are, and whether they're at the beach or not --- but in general, it's slow now, as it traditionally is -- so my general advice would be to wait.

ali r.
{downtown broker}

I've done a fair amount of FSBO. In normal circumstances (though I would not consider these times to be normal), prime time to list is from Labor Day through Thanksgiving Day, with the second weekend in September through the first week in November being the 'sweet spot.' If you list now, by mid-September your property will read as have been on the market almost 30(+) days, and might considered to be not the freshest meat.

I say begin listing on either Friday 29 August or the following Tuesday on the online NY Times real estate page, with your first open house the weekend of 6 September, and forget the print page altogether - I find it too expensive, and everybody I know looks online. People make really quick decisions, and that first featured picture you decide to use has to speak with authority. Once they click on your ad, make sure it has multiple clear and attractice pictures, an easy to understand floor plan, and a full description of the property and all amenities. In the meantime, continue to study comps on places like streeteasy, and go to as many open houses in your area to see how you can learn from how people set their homes for open houses, and steal the good ideas (and you'll also learn plenty of bad ideas to avoid!).

Front_porch

Upper east side, 1BR. Probably first time buyer, "starter"

I should mention that it has already been on the market, and we've had minimal response from the online ad. We've taken a month hiatus.

where is it and how much?

clear:

Your "starter" buyer is going to most likely buy in the spring. Your chances are lower between now, and, say, March.

I would build a website -- one destination page -- describing the apartment.

Then I might send a note to your mortgage broker -- saying you're FSBOing an apartment that requires x% down and will come out to y% monthly, here's the web address so they can see the specs, but if they qual anybody like that will they send 'em along?

ali r.
{downtown broker}

I agree with Ali R. that Spring is primetime for buyers. While Manhattan is not as seasonally dependent as the 'burbs (families want to commit in the Spring to have their kids in school in September), the nice weather has a way of bringing even the Manhattan shoppers out. I'll disagree with her as to how helpful a mortgage broker might be in helping you find a buyer. ANYTHING is possible, but don't count on it.

Regarding timing, the simple answer is to market the property when you want to / have to sell. If you're buying another property, any "hit" you take due to the weak market should be minimized (or eliminated) by your savings on the new place. Or, if you really don't HAVE to move, you may want to wait a year (or two) until the market improves (hopefully). If you'd prefer to sell now, a New York Times online ad is not that expensive - at least compared to what a broker would charge.

In ANY market, the main problem with going FSBO - in addition to marketing - is pricing. A FSBO wants to save the commission, whereas a buyer who considers buying from a FSBO will want to share in the perceived savings by "splitting the difference". Often sellers have a hard time accepting this.

I would say that you seem to be a prime example of 'Anyone who goes FSBO has a fool for a seller'. You appear to not know what you're doing but 'gotta save a buck, gotta save a buck!' After all, this is probably your largest asset. Surprise! A realtor does this for a living & would actually KNOW what they're doing. I don't mean to be disrespectful, but that's how I see it.

I agree with you drdrd, some one who does this as a profession will do a better job. And in the end I don't think this owner will end up "saving a buck"

drdrd and justy26

You don't really know me, and don't know the other discussions I've had here. johnrealestate might have an idea since we've spoken before.

Look up my previous comments and discussions. Both of you jumped to conclusions and made assumptions that are totally unfounded. I sincerely hope that if both of you are brokers you do not conduct business like this because you are giving people another reason to dislike agents and think they are scum.

I disagree with you therefore I'm scum - I am not a realtor - Fine, whatever.