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Old 05-15-2018, 01:30 PM
 
Location: Salem, OR
13,765 posts, read 31,751,090 times
Reputation: 12163

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Quote:
Originally Posted by inquisitive2 View Post
Has anyone used FSBO and been happy with their decision: or, is it better to use an agent when selling a property?
So here is my experience as an agent who shows lots of FSBO homes to clients.

About 10% of sellers (FSBO or not) are perfectly capable of doing a good to excellent job representing themselves without support.
Another 10-15% need some support to sell themselves (attorney or real estate agent to handle paperwork).
The rest really need help from start to finish.

Successful sellers that represent themselves do the following:

1) They know how to get their homes ready for sale.
2) They make it easy to show the home.
3) They know how to take decent photos/hire a pro to take photos.
4) They don't stalk you when showing their home.
5) They don't oversell their home. They point out the positives but don't spend hours trying to convince you their home is the best thing ever.
6) They answer all questions honestly and respectfully. They don't get offended when you ask about anything.
7) They are current on requirements for selling a home.
8) They take negotiations in stride and don't get dramatic and irritated when things aren't going their way.
9) They understand timelines.
10) They are flexible and willing to work together with agents.

So if you are a reasonable person who understands the real estate process, takes things in stride, is organized, and respectful, you will be fine selling your own home.

If your instinct is to try and bend others to submission, to send pissy emails asserting your dominance, refuse to solve problems, refuse to comply with your state laws, not organized, on and on...well, then good luck with that.
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Old 05-15-2018, 01:40 PM
 
1,549 posts, read 595,065 times
Reputation: 3003
What’s #7? If I hold the deed to a property I can sell it.

Or are you talking about FHA/VA requirements, etc?
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Old 05-15-2018, 01:48 PM
 
Location: Florida -
8,333 posts, read 10,118,796 times
Reputation: 15352
Many have the perception that FSBO is an 'easy' way to save RE fees on a sale. The fact is that many things look easier than they really are.

Realtors would not continue to make 5-6-percent on real estate sales if it was simply a matter of putting a 'For Sale' sign in one's yard.
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Old 05-15-2018, 01:56 PM
 
Location: Salem, OR
13,765 posts, read 31,751,090 times
Reputation: 12163
Quote:
Originally Posted by RoamingTX View Post
What’s #7? If I hold the deed to a property I can sell it.

Or are you talking about FHA/VA requirements, etc?
State requirements. So in Oregon, you are required to remove any non-EPA certified woodstoves, have the proper smoke and CO detectors, water quality testing for wells, well tags, etc.

I am sure other states have requirements that have to happen when real estate changes hands?
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Old 05-15-2018, 02:01 PM
 
1,549 posts, read 595,065 times
Reputation: 3003
Quote:
Originally Posted by Silverfall View Post
State requirements. So in Oregon, you are required to remove any non-EPA certified woodstoves, have the proper smoke and CO detectors, water quality testing for wells, well tags, etc.

I am sure other states have requirements that have to happen when real estate changes hands?
I guess so? TX is pretty damn free-wheeling, for a cash deal you donít really need anything other than title.
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Old 05-15-2018, 02:04 PM
 
Location: Salem, OR
13,765 posts, read 31,751,090 times
Reputation: 12163
Quote:
Originally Posted by RoamingTX View Post
I guess so? TX is pretty damn free-wheeling, for a cash deal you donít really need anything other than title.
I can see Texas and some traditionally conservative states not having any state requirements.
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Old 05-15-2018, 02:13 PM
 
1,549 posts, read 595,065 times
Reputation: 3003
Quote:
Originally Posted by Silverfall View Post
I can see Texas and some traditionally conservative states not having any state requirements.
Yeah. I can see people trying to run an FSBO with regs like that going sideways.

Give the government an inch... theyíll find a taxable solution.
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Old 05-15-2018, 02:14 PM
 
Location: Raleigh NC
7,944 posts, read 6,261,879 times
Reputation: 7056
Quote:
Originally Posted by inquisitive2 View Post
Has anyone used FSBO and been happy with their decision: or, is it better to use an agent when selling a property?
based upon your other real estate thread, I'm going to say that using a qualified agent is your best bet. Condominium Frustration

1. you don't have a lot of experience under your belt navigating real estate transactions.
2. trying to sell a condo has unique challenges of marketing and oftentimes access.
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Old 05-15-2018, 02:24 PM
 
16,716 posts, read 17,864,242 times
Reputation: 23997
Quote:
Originally Posted by Silverfall View Post
So here is my experience as an agent who shows lots of FSBO homes to clients.

About 10% of sellers (FSBO or not) are perfectly capable of doing a good to excellent job representing themselves without support.
Another 10-15% need some support to sell themselves (attorney or real estate agent to handle paperwork).
The rest really need help from start to finish.

Successful sellers that represent themselves do the following:

1) They know how to get their homes ready for sale.
2) They make it easy to show the home.
3) They know how to take decent photos/hire a pro to take photos.
4) They don't stalk you when showing their home.
5) They don't oversell their home. They point out the positives but don't spend hours trying to convince you their home is the best thing ever.
6) They answer all questions honestly and respectfully. They don't get offended when you ask about anything.
7) They are current on requirements for selling a home.
8) They take negotiations in stride and don't get dramatic and irritated when things aren't going their way.
9) They understand timelines.
10) They are flexible and willing to work together with agents.

So if you are a reasonable person who understands the real estate process, takes things in stride, is organized, and respectful, you will be fine selling your own home.

If your instinct is to try and bend others to submission, to send pissy emails asserting your dominance, refuse to solve problems, refuse to comply with your state laws, not organized, on and on...well, then good luck with that.
My attitude towards the buyer will be in direct correlation to their attitude towards me. If they are disorganized and donít have their crap together Iíll most likely want out of the deal and simply wonít agree to any compensation or flexibility.
Itís the same with agents. When 8 was looking for a house I had multiple agents 8 worked with. Some simply wanted a quick sale and could of cared less if I actually bought a home I wanted. They just wanted to make any sale and get their commission and on to the next one. I had one agent pressure me on the first house I looked at.

I told EVERY agent I met with that I have certain needs wants and desires. Until I find that house donít pressure me into a purchase. I have great credit money and all my ducks are in a row. Some chose the pressure tactic and I simply told them their services arenít needed any longer.
Buying a house is stressful enough without your agent pressuring you.

Would I pay a buyers agent? Sure. If the agent brings a great buyer not some marginal desperado.
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Old 05-15-2018, 03:00 PM
 
Location: Raleigh NC
7,944 posts, read 6,261,879 times
Reputation: 7056
or just re-read this post.

Quote:
Originally Posted by Silverfall View Post
So here is my experience as an agent who shows lots of FSBO homes to clients.

About 10% of sellers (FSBO or not) are perfectly capable of doing a good to excellent job representing themselves without support.
Another 10-15% need some support to sell themselves (attorney or real estate agent to handle paperwork).
The rest really need help from start to finish.

Successful sellers that represent themselves do the following:

1) They know how to get their homes ready for sale.
2) They make it easy to show the home.
3) They know how to take decent photos/hire a pro to take photos.
4) They don't stalk you when showing their home.
5) They don't oversell their home. They point out the positives but don't spend hours trying to convince you their home is the best thing ever.
6) They answer all questions honestly and respectfully. They don't get offended when you ask about anything.
7) They are current on requirements for selling a home.
8) They take negotiations in stride and don't get dramatic and irritated when things aren't going their way.
9) They understand timelines.
10) They are flexible and willing to work together with agents.

So if you are a reasonable person who understands the real estate process, takes things in stride, is organized, and respectful, you will be fine selling your own home.

If your instinct is to try and bend others to submission, to send pissy emails asserting your dominance, refuse to solve problems, refuse to comply with your state laws, not organized, on and on...well, then good luck with that.
Quick reply to this message
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