Real estate / home pricing question

[IndiaInk]

We are planning on listing our home at some point in 2017, due to my husband taking a new job and the need to reduce commute time. Just keeping an eye on the market in the new area though and not in a big hurry to move until we see something good come up.  We have a realtor in mind who we will likely work with at that point, however someone just called me yesterday and said she and her husband are interested in buying our home if we ever want to sell.  It's a charming 1880's farmhouse and they saw it for sale at the time we bought it in 2013 and have been thinking about it ever since.  
My question is:  I plan to call her back and tell her we would be interested in selling this year but how do I go about pricing our home without a realtor?  I have a ballpark idea of what its worth, but this home is so different than others in the area that it's hard to do comps.  Also, the market has really shot up in the last few years, so I want to be careful not to undervalue it.  Is there a way to get input from someone who would know (like a REA) without engaging in a contract with a realtor?  Or is there some reason to use a realtor in this sort of situation, that I'm not considering?

[gummybear]

I would not touch a pricing question without a realtor. You could really shoot yourself in the foot.

I might call her back and say, "Yes, we will be listing later this year bc of a job situation but we have not decided on a price. I will be sure to have my realtor call yours before we make the listing live if you'd be interested in seeing it first."

[lilac05]

When we did our home FSBO, we paid to have an appraisal done. (Not the same as a tax assessment.) He ran comps and gave us a market analysis almost identical to the one that our agent had done, but IMO, his was FAR more accurate.

[4speedy]

I would pay to have an appraisal done but I would keep that info close to the vest.  Whatever the appraisal comes back at, I would offer it to the woman who contacted you for 20% more and negotiate from there.  The appraisal will cost about $300 but that is still a lot cheaper than paying a realtor commission considering you brought your own buyer to the table.

[tealblue]

You could get an independent appraisal done (usually around $400). I'd start there before talking to a realtor. You could essentially do a for sale by owner - just using a lawyer and this appraisal and save quite a bit on commission.

[imojoebunny]

Personally, I think it is very difficult to pull off a sale with no agent at all. We have bought and sold FSBO before, and it worked out fine, but there was an agent on the buyer side, I think the go between on the details and inspection can be quite difficult, unless both the buyer and the seller are very professional, financially savvy enough to navigate the loan process, and you still need to hire an attorney to draw up the contracts, as well as, do the closing. I have seen people do it, but it is usually more of a neighbor selling to a neighbor or friend to friend, investor to investor, where there is a degree of trust and knowledge of the property, and parties are seeking to share the commissions savings.

You can ask a few agents to give you their marketing plans, which often include a price suggestion, and let the person know who has previously contacted you, before you sign with a listing agent. If the person jumps at the chance to buy, you do not have to list with the agent. It is a long shot, but it could happen, and if not, you have a back up plan with an agent.

The other option is an appraisal, which isn't a bad thing to have, even if you list (though we have had some that are just plain wrong), or using "sold" homes on places like Trulia or my mortgage broker will provide comps, upon request, for properties we are considering buying or selling. The downside to the trulia method, is you do not know what the other payments are. I paid $X price for one house, but the seller actually got $x-15% in repair credits and closing cost, for example. The spread can be wide. You also do not know the conditions, upsides and downsides, of the sold homes, which is something a good, local realtor can tell you.

[bugandbibs]

When we bought our neighbor's house, we had an independent appraisal done to determine fair market value. Then we used a real estate attorney to handle all the documents. It was easy and much cheaper than using a realtor. Our neighbor's got to keep much more of the profit because they didn't have to deduct realtor fees.

[cabbagecabbage]

If these people are inrerested in buying, I'd tell them you might move if they offer you enough entice you. I'd wouldn't accept anything without local realtors running comps but they want it and they're willing to pay.