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What's being missed here, and everyone has good ideas about safety, Craigslist, pre-quals, etc...
How about this novel idea? Instead of all this hassle, how about just hiring a seller agent to sell your home for you? Are you so against having a pro do it and saving the money that it's worth all these headaches?
Perfect example yesterday. I had a lead I was following up with, they wanted to do a FSBO, and I offered to provide an accurate market value for them. The declined and yesterday when I called them, they were very happy to be closing on their home. I asked what price they received, and they mentioned that the buyer was an investor and paid them top dollar for market conditions. I then researched the comps in their area and when, I see this alot with FSBO's, the cash offer the accepted was $120K less than market value, their home would have sold easily if it had been listed on MLS, it was in a market where the Days On Market was averaging 15 days.
All I would say to FSBO folks, if you plan on selling your home yourself, you should at least hire an appraiser or Realtor to provide you comps so that you can accurately price your home.
Nothing puts a stigma on a house quicker than it being on the market too long and too over-priced. And besides, you don't want to leave $120K on the table.
In my personal business I am happy to work with FSBO sellers who want comps for their homes, I charge a simple fee to provide my services just as an appraiser would.
There are bad apples in every industry. I feel it's just amplified in real-estate because the product is of a personal nature and is very expensive. But, most folks (not all) try out FSBO as an option and quickly find that the professional services a Realtor can provide is a bargain.
The reality that I see everyday is that most FSBO sellers don't market their property, some have joined a website or paid money to advertise in their local MLS's, but the majority advertise by listing their property on Craigslist. Now, who do you think is out there trolling Craigslist for FSBO's? You guessed it, investors looking to flip your property by offering cash lower than market. These are professional flippers that know how to convince you that their offer price is fair, and by golly they're paying cash.
How many times, as a FSBO seller, have you let someone into your home without a pre-qualification from the bank? Did you do your due diligence to see if that person was able to purchase a home? For safety reasons, did you interview them, meet them is a public place, check their sanity? A lot of times the answer to this is "no", and that's scary, please don't let folks into your home without meeting them in a safe place first. This is one thing a Realtor does for you, we invite buyers into our safe zone, interview them, and do your diligence for you.
Please if you go the route of FSBO for whatever reasons, do your due diligence and pay to have your home advertised and properly priced.
it doesnt matter they left 120k on the table, they can brag to their friends and family how easy and quick it was to sell the house themselves,,,and save thousands of dollars of commission money to a broker..
What's being missed here, and everyone has good ideas about safety, Craigslist, pre-quals, etc...
How about this novel idea? Instead of all this hassle, how about just hiring a seller agent to sell your home for you? Are you so against having a pro do it and saving the money that it's worth all these headaches?
Perfect example yesterday. I had a lead I was following up with, they wanted to do a FSBO, and I offered to provide an accurate market value for them. The declined and yesterday when I called them, they were very happy to be closing on their home. I asked what price they received, and they mentioned that the buyer was an investor and paid them top dollar for market conditions. I then researched the comps in their area and when, I see this alot with FSBO's, the cash offer the accepted was $120K less than market value, their home would have sold easily if it had been listed on MLS, it was in a market where the Days On Market was averaging 15 days.
All I would say to FSBO folks, if you plan on selling your home yourself, you should at least hire an appraiser or Realtor to provide you comps so that you can accurately price your home.
Nothing puts a stigma on a house quicker than it being on the market too long and too over-priced. And besides, you don't want to leave $120K on the table.
In my personal business I am happy to work with FSBO sellers who want comps for their homes, I charge a simple fee to provide my services just as an appraiser would.
There are bad apples in every industry. I feel it's just amplified in real-estate because the product is of a personal nature and is very expensive. But, most folks (not all) try out FSBO as an option and quickly find that the professional services a Realtor can provide is a bargain.
The reality that I see everyday is that most FSBO sellers don't market their property, some have joined a website or paid money to advertise in their local MLS's, but the majority advertise by listing their property on Craigslist. Now, who do you think is out there trolling Craigslist for FSBO's? You guessed it, investors looking to flip your property by offering cash lower than market. These are professional flippers that know how to convince you that their offer price is fair, and by golly they're paying cash.
How many times, as a FSBO seller, have you let someone into your home without a pre-qualification from the bank? Did you do your due diligence to see if that person was able to purchase a home? For safety reasons, did you interview them, meet them is a public place, check their sanity? A lot of times the answer to this is "no", and that's scary, please don't let folks into your home without meeting them in a safe place first. This is one thing a Realtor does for you, we invite buyers into our safe zone, interview them, and do your diligence for you.
Please if you go the route of FSBO for whatever reasons, do your due diligence and pay to have your home advertised and properly priced.
I know a wise older woman who looks for people selling by owner. She knows they usually don't know what the market price is. She then has her son fix the house up a little and lists it much much higher....with a realtor of course to get the best sale.
I'd love to see some of those 120K underpriced FSBOs! In the area I've been looking in, the few by-owners have been way, way overpriced. E.g., one guy who listed at $349,000 in March of 2013, dropped to 269,000 in October 2013, and just recently listed with a realtor for $239,000, and is still pretty high even at that.
I'd love to see some of those 120K underpriced FSBOs! In the area I've been looking in, the few by-owners have been way, way overpriced. E.g., one guy who listed at $349,000 in March of 2013, dropped to 269,000 in October 2013, and just recently listed with a realtor for $239,000, and is still pretty high even at that.
That's been my experience as well. The FSBOs I've seen in my area seem priced high in my amateur (but recently well researched) opinion. I'm left with the impression that they really don't want to sell or can't "afford" to sell.
I was also thinking of doing that. How about you do a short clip or ad giving some better points of the house but not giving the location. Mention serious buyers only and no real estate agents; to get more info they must supply their name, address, tel# (you then can verify the info); maybe mention if negotiations are acceptable or the price is firm. In the second video or ad you give all the info maybe a virtual tour except the exact location unless they want to see it.
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Selling on Craigslist
