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May 24, 2005

Would this Work?

2005-05-26 wwyp.jpg

You are looking to sell your apartment. It cannot happen just yet, but you�re gearing up. You�re not sure how much you should offer it for. At some point, you will get it appraised, but the allure of circumventing a real estate agent is great. So you decide to call a pre-open house, perhaps posted on Craig's List, or some other networking webbernet tool.

The pre-open house would be a way to introduce potential buyers to a potential apartment. They can look around; they can throw out a price. You are not selling it right away and you�re honest about that. But, if the offer is right, you might give them a call. It might just work out. It�s a plus for the common house hunter because not everyone is ready to drop $40K in a blink. It�s a plus for you because you�d like to see what people are realistically looking for. If you don�t like what you�re hearing, you can haul ass to a broker ASAP.

Would I be inundated by people just looking for free cookies? Or do you think the event might muster some interesting results? Or would somebody sue my ass?

Posted by callalillie at May 24, 2005 11:25 AM | City Life , Home Improvement


I don't like it. It just doesn't feel right, like you're inviting strangers into your home to find out what people are willing to pay yet you're not ready to sell. It just seems odd, and I think many of your guests would have intentions that vary from your own. Don't you have a pal who can do you a favor? surely you know someone who can do an appraisal or give you a more educated assesment. I'm surprised a web savvy girl such as yourself doens't know a slew of websites that can do a home appraisal for you for free.

Posted by: jason at May 24, 2005 3:59 PM

That's actually not the point. I can get the thing appraised any time I want. I'm curious about what someone would be willing to offer.


Posted by: corie at May 24, 2005 4:00 PM

Look at the comparables of property sold recently in your neighborhood, this will tell you many things about your own.
Most realtors use this method when setting a price and realtors have the most recent comps.

In California we have a disclosure law, which means you have to let your buyer know facts of interest pertaining to your property, which if they did not know, could come back to haunt you in the form of a law suit.

In California the commission is negotiable to a certain degree, this is something you should bring up if you decide to use a realtor.

You also may have wider exposure using a realtor and more showings. The more exposure you have, the more likely you will get the best price and not have to be involved with buyers personal issues.

Posted by: Petrie at May 24, 2005 4:56 PM

I think if you did this you'll have the local burgulars round checking out your security and stealable items!

Posted by: discostu at May 24, 2005 6:13 PM

Nope, not a good idea. Let folks come and look when you are ready to entertain an offer.

Petrie is right - looking at comparables in your neighborhood should tell you what you need to know about pricing. Opening the apartment up for inspection but not for sale is a bit on the coy side.

You can certainly invite real estate agents to come to look at the property and then make the case to you why they should be the one to list the apartment. Part of their pitch has to be what they think they can get in the current market. You then get a good idea of the low and the high for your property. You are under no obligation and can be honest that you don't want to list for a few months. That's what we did and it worked out fine.

Posted by: bobtrancho at May 24, 2005 9:23 PM

What about talking to the neighbors on either side of you and asking if they're interested in buying your place?

Posted by: Shannon at May 24, 2005 9:39 PM

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