Fsbo

sdsester · 08-02-2012, 08:31 AM

Quote:

Originally Posted by hammerlane

Like I said before if the seller is in no time constraint to sell then try it by owner.

No issue with any of your points but this one. You cannot leave a house on the market just because you are in no hurry to sell it! Nothing screams something wrong, real or imagined with a property, than a for sale sign on the lawn for ages? Maybe it is just because the owner wants $30,000 more than the market will bear and the house probably deserves to fetch the amount and more? It doesn't change the perception.

Actually there is one thing worse, which happens next. The price starts dropping to the number at which it should have been listed in the first place. And the FSBO tries to increment it over six seven months, maybe missing a prime buying season.

The final reason I think owners should not sell their own homes is few are able to let go of them. People viewing real estate can be brutal and without objective distance a real estate agent can provide? There is a reason owners are not allowed at open houses you know.

hammerlane · 08-02-2012, 08:34 AM

Quote:

Originally Posted by sdsester

No issue with any of your points but this one. You cannot leave a house on the market just because you are in no hurry to sell it! Nothing screams something wrong, real or imagined with a property, than a for sale sign on the lawn for ages? .

I'll agree on that

BabsHoney · 08-02-2012, 10:41 AM

Wow. Thanks everyone for the awesome advice.

The deal is, my mom has about 2-3 months of work she wants to do before she is ready to list. In the meantime she doesn't want people to not be able to look at it. So I get that 2-3 months to attempt to get the commission. Not to mention I'm doing a ton of the cleaning/staging!!

And yes, it is a nice house. She got the plans for another house in the area she wanted and had it built to her exact wants 10 years ago. 5 bedrooms, 3 1/3 baths inside, plus office and formal dining, 4700 square feet, 2 car attached garage, 2 car detached garage with another two piece bathroom, barn, in-ground pool, all on 20 acres on a controlled access highway with two driveways.

Haha, look at me, I'm trying to sell it on the DIY forum. :D

creeper · 08-02-2012, 10:52 AM

Need an Agent?? hahaha

Good points about it being on the market for too long. It does create a stigma. However, the good news is that it will not create a stigma with the Agents because they're not even seeing it yet.
The fall market is just around the corner. I say go for it now and get a jump start.

Keep track of all potential buyers who come through before you list. Then when the updates are complete, your Agent can send them the listing which should address in the content of the text all the wonderful changes that make this a spectacular property.

If you want to do this then the time is now.
Declutter, Declutter, Declutter

BabsHoney · 08-02-2012, 10:58 AM

Here is 1/2 of the living room area. Please don't mind the mess, we are in the process of packing up 50% of what she owns to declutter it.

BabsHoney · 08-02-2012, 11:00 AM

We posted at the same time

I was planning to keep track of everyone that I spoke with and those that came to see the house. Partly because I read a FSBO can bring around looky-loos that may try to steal from you. Yes, I will be pointing out the full security system.

creeper · 08-02-2012, 01:13 PM

As a female you must be aware of YOUR security. Not all men who come alone will be up to no good, but if you are selling a family home in a family neighbourhood, be very careful if a Mrs. is not present.

Try to have someone else attend showings with you, even if they just hang out in the back garden. Their presence will be a deterrent for anyone with less then honorable intentions.

You will also have a lot of tire kickers and nosey people who have no intention of moving. You can qualify timewasters by asking simple questions such as Do you have a house to sell ( be wary of anybody who does not in your price bracket) Is it listed and by whom
When were you planning on moving
Why do you like this area

BabsHoney · 08-09-2012, 01:06 AM

So... I thought I would give an update...

I have been working my rear off and holy crap this house is big!!!
I have revoked my mom's wallpaper privileges, I am finally being appreciated for the skills I have, and we have decided to go ahead and put the sign out even though it is NO WHERE near ready. We figure someone looking and saying no isn't any worse than no one looking at all.

Ps, don't live in a new house for ten years and just not do anything at all. Grrrr!!!

joed · 08-09-2012, 08:38 AM

Quote:

Originally Posted by creeper

As I said it would be for some, but I think you should be prepared to compensate a Realtor who brings a buyer. I have clients who would refuse to even look at a FSBO if they thought they had no pro. protection

My opinion. I don't how the real estate industry works in USA. If the buyer brings a realtor let the buyer pay the realtor.

hammerlane · 08-09-2012, 08:52 AM

Quote:

Originally Posted by joed

My opinion. I don't how the real estate industry works in USA. If the buyer brings a realtor let the buyer pay the realtor.

If selling by owner and prior to signing any purchase agreement, you have no legal obligation for a buyer's realtor to be due any money from the seller's side. By all means the purchase agreement could state that the buyer pays all realtor fees.

creeper · 08-09-2012, 08:55 AM

Quote:

Originally Posted by joed

My opinion. I don't how the real estate industry works in USA. If the buyer brings a realtor let the buyer pay the realtor.

Unless under contract with a Realtor, why would a Buyer offer to pay.

If I'm working with a Buyer and we spot a fsbo that we'd like to see. A loyal or under contract Buyer always lets me approach the Seller. If they refuse to co-operate, we move on.

creeper · 08-09-2012, 08:59 AM

Quote:

Originally Posted by hammerlane

If selling by owner and prior to signing any purchase agreement, you have no legal obligation for a buyer's realtor to be due any money from the seller's side. By all means the purchase agreement could state that the buyer pays all realtor fees.

It could state that, but I guarantee you that if you don't co-operate with a Realtor your Buyer pool just shrunk by about 90%

hammerlane · 08-09-2012, 09:00 AM

Quote:

Originally Posted by creeper

. A loyal or under contract Buyer always lets me approach the Seller. If they refuse to co-operate, we move on.

Thats a selfish realtor. The buyer may be passing on their dream home just because their realtor will not get the 80% of the 3.5%

hammerlane · 08-09-2012, 09:03 AM

Quote:

Originally Posted by creeper

I guarantee you that if you don't co-operate with a Realtor your Buyer pool just shrunk by about 90%

You may be correct. Although I don't agree on the 90% number.

Again it all comes down to how pressed or time-constrained the seller is to sell.

creeper · 08-09-2012, 09:18 AM

Quote:

Originally Posted by hammerlane

Thats a selfish realtor. The buyer may be passing on their dream home just because their realtor will not get the 80% of the 3.5%

Gimme a break..selfish realtor

When you go to work are you there on a volunteer basis.? So all your time and effort so far ...free . Your expenses...free.

If someone asked you to install a new floor and you began the process. Taken the time to do the preliminary research, driven over there on your gas ( don't forget to pay the sitter and wear your best bus. cloths) you start ripping up the old floor and the customer changes her mind. Now she wants that other floor but cannot afford.

What a selfish flooring installer you must be for not absorbing the cost for her.