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I'd pay a realtor a finder's fee to bring their client to a successful closing - and to take on that kind of babysitting.
My larger point is that a FSBO seller would/should expect to have that cost.
Either way though you'll have some marketing/promotion to do well... and those costs to cover too.
I missed the other details ...
At your price range the buyer is likely to be experienced enough to manage well enough...
and well heeled enough to have his own attorney backing him up.
$500K to $700K is a BIG range! - You are talking about many $thousands of dollars if you make even a 5-percent mistake. If you are in that range and not even certain how to go about pricing your property, it's probably time to call in the professionals who earn their living in your market listing and selling properties - rather than trying to save a few bucks by going FSBO.
Since you are saving money on commissions by FSBO then you can afford to list it lower for a faster sale.
Yes, and I agree with other posters about using your lawyer to be sure everything goes well. Those commission dollars do look much better in your wallet so don't get pressured into doing it any other way.
You don't have to reduce the price just because it is a FSBO. We had that experience when a buyer wanted to share in our equity. Fat chance, we sent him out the door. Some sellers today are holding their Open House and then tell the buyers that within three days, the highest bidder will be notified that their qualified offer has been accepted.
$500K to $700K is a BIG range! - You are talking about many $thousands of dollars if you make even a 5-percent mistake. If you are in that range and not even certain how to go about pricing your property, it's probably time to call in the professionals who earn their living in your market listing and selling properties - rather than trying to save a few bucks by going FSBO.
This is exactly what I was going to say.
OP, is there a reason you don't want an agent? In my experience if you want your place to move quickly, hiring an agent really helps. A lot of buyers are scared of FSBOs, especially first time buyers. I was just looking at a place that sat for 90 days on market as a FSBO and was finally listed with a realtor, selling in a week. Why not hire a fixed commission agent or someone who takes a lower percentage like Redfin?
As a buyer, when I see FSBO, I assume the price can be cut by whatever the commission of the realtor would be. And I have been right more often than not. I recently bought one at big savings to me. The seller could have had a lot more for it if they would have sprung for a good agent and gotten nice pics taken.
OP, is there a reason you don't want an agent? In my experience if you want your place to move quickly, hiring an agent really helps. A lot of buyers are scared of FSBOs, especially first time buyers. I was just looking at a place that sat for 90 days on market as a FSBO and was finally listed with a realtor, selling in a week. Why not hire a fixed commission agent or someone who takes a lower percentage like Redfin?
As a buyer, when I see FSBO, I assume the price can be cut by whatever the commission of the realtor would be. And I have been right more often than not. I recently bought one at big savings to me. The seller could have had a lot more for it if they would have sprung for a good agent and gotten nice pics taken.
Points well taken. The FSBO market has been pretty hot here recently, so we're going to try it for 30 days. If that doesn't work, we'll get a realtor.
Points well taken. The FSBO market has been pretty hot here recently, so we're going to try it for 30 days. If that doesn't work, we'll get a realtor.
I've always enjoyed your informative posts and background here on CD. Wish I was closer to give you some local advice.
Best of luck.
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