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Old 09-23-2019, 01:48 PM
 
10,724 posts, read 12,637,344 times
Reputation: 15193

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Quote:
Originally Posted by Spottednikes View Post
Look into flat fee MLS type brokers. They usually charge around 700. To put in mls, send you sign, and handle documents. You do showings.
You would need to commit to paying a buters agent 2.5 percent -3 percent.
This is the best advice...........


2 considerations:

When buying people will instantly discount the place 5% by arguing you aren't paying a realtor.

The other is the qualified buyers. 700K isn't a starter home but you will surely have people that will show up and waste your time (a good realtor would have weeded them out way before hitting the streets). I tried to sell a house FSBO and had a woman try to trade me a Ferrari for the house (nice car but I didn't want a Ferrari, I wanted the cash!). The "last" person I showed the house to ended up being the first person that made an offer once we listed it. It had multiple offers in 8 days, house sold for more than we were asking as a FSBO. Win/Win.

I was also selling a vacant house so it wasn't really urgent since I had already moved out. I'd probably want a faster response if I was living in the house (get it sold quicker).
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Old 09-23-2019, 02:37 PM
 
Location: Lakeside, CA
596 posts, read 87,079 times
Reputation: 465
Quote:
Originally Posted by City Guy997S View Post

When buying people will instantly discount the place 5% by arguing you aren't paying a realtor.
First of all, thanks to you all for the ideas...exactly what I was hoping to get!

I figured people would try to knock off the 5-6% right off the bat.....I have a strategy to handle that....plus this house is a one of a kind...for the right people :-)
I think the biggest ally we'll have going for us is that we are completely unconcerned about time.....

My wife has 3-4 good friends that she plays bunko with who are realtors, so we'll have some strategic help.
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Old 09-23-2019, 03:06 PM
 
2,856 posts, read 1,661,812 times
Reputation: 2901
Your biggest problems will be:

1. You'll miss quite a few prospective buyers, since buyer's brokers will rarely show a prospective buyer a FSBO. Sad but true. I've seen it myself many a time. If it's the ideal property for a buyer, their broker may contact you to ask if you'll cooperate - pay their commission. But maybe not.

2. Some prospective buyers will assume you're not motivated, or over-priced. Both are often true. Others will assume a transaction will be difficult, assuming an absence of professional guidance for you, the seller. Also often true.

Just some things to keep in mind.
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Old 09-23-2019, 06:47 PM
 
140 posts, read 100,222 times
Reputation: 303
Quote:
Originally Posted by bigbear99 View Post
Your biggest problems will be:

1. You'll miss quite a few prospective buyers, since buyer's brokers will rarely show a prospective buyer a FSBO. Sad but true. I've seen it myself many a time. If it's the ideal property for a buyer, their broker may contact you to ask if you'll cooperate - pay their commission. But maybe not.

2. Some prospective buyers will assume you're not motivated, or over-priced. Both are often true. Others will assume a transaction will be difficult, assuming an absence of professional guidance for you, the seller. Also often true.

Just some things to keep in mind.

Here's a question about "buyer's brokers". If the seller advertises online with a free site like Zillow and the buyer sees the ad on Zillow and then contacts the seller, why would the seller be obligated to pay anything to the broker? The seller has no contract with the buyer's broker and wouldn't owe the buyer's broker anything in my opinion.


And since the buyer's broker didn't find the house or show the buyer the house, it seems the buyer wouldn't owe the broker anything either... but I suppose that depends on just what the contract says between the buyer and his/her broker.


This is why I would never use a buyer's broker. If the broker finds me a house that I buy, then sure, they'll get a cut of the seller's commission, but if I find something on my own from a private seller, the broker is owed nothing as far as I'm concerned since they didn't find me anything that I was interested in buying.
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Old 09-24-2019, 08:06 AM
 
2,268 posts, read 1,336,756 times
Reputation: 1945
The title company will write a new contract, whether it is a standard MLS contract or terms written on a 3 x 5 card.. both parties will have to approve it and sign it anyways. I would also consider getting on the MLS for a flat fee.
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Old 09-24-2019, 01:21 PM
 
19,049 posts, read 21,013,699 times
Reputation: 28275
Quote:
Originally Posted by City Guy997S View Post
This is the best advice...........


2 considerations:

When buying people will instantly discount the place 5% by arguing you aren't paying a realtor.

The other is the qualified buyers. 700K isn't a starter home but you will surely have people that will show up and waste your time (a good realtor would have weeded them out way before hitting the streets). I tried to sell a house FSBO and had a woman try to trade me a Ferrari for the house (nice car but I didn't want a Ferrari, I wanted the cash!). The "last" person I showed the house to ended up being the first person that made an offer once we listed it. It had multiple offers in 8 days, house sold for more than we were asking as a FSBO. Win/Win.

I was also selling a vacant house so it wasn't really urgent since I had already moved out. I'd probably want a faster response if I was living in the house (get it sold quicker).
Who cares how much they feel that you should discount and why. You simply say no thank you. Just because you’re not using a agent doesn’t mean I need to discount. Ow if I ever FSBO a property I may offer to pay closing costs for the buyer but that would be about it.
If you want a agent feel free to hire one and pay them yourself.
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Old 09-24-2019, 01:41 PM
 
590 posts, read 138,060 times
Reputation: 744
Problem I see is the buyers will have an attorney and guess whos interest he is looking after.. It wont be yours. You will have to sign documents their lawyer has approved and friend you best understand every word in them.
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Old 09-24-2019, 01:43 PM
 
Location: Lakeside, CA
596 posts, read 87,079 times
Reputation: 465
Quote:
Originally Posted by Mr78609 View Post
Problem I see is the buyers will have an attorney and guess whos interest he is looking after.. It wont be yours. You will have to sign documents their lawyer has approved and friend you best understand every word in them.
Righto. I would never sign anything without my own representation....
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Old 09-24-2019, 01:47 PM
 
Location: Lakeside, CA
596 posts, read 87,079 times
Reputation: 465
Quote:
Originally Posted by Electrician4you View Post
Who cares how much they feel that you should discount and why. You simply say no thank you. Just because you’re not using a agent doesn’t mean I need to discount. Ow if I ever FSBO a property I may offer to pay closing costs for the buyer but that would be about it.
If you want a agent feel free to hire one and pay them yourself.
Exactly how I'm thinkin'....we'll see what happens....
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Old 09-24-2019, 02:01 PM
 
1,787 posts, read 1,827,699 times
Reputation: 4731
I "sold" my last house without using a realtor.

Wife and I were kicking around the idea of selling, so I listed the house on the "Make Me Move" portion of Zillow's website. I entered all the pertinent data about the house, used the previous realtor's pictures, and listed a price that was above market that was high enough that wife and I would be willing to sell for.

Within a week, a realtor left a note on my doorstep that she had clients who wanted to live in our development and specifically in our floorplan. They had a showing, and made us an all-cash offer that was very close to our asking price. So we took it.

I did agree to pay the buyer's agent 2.5%, and was totally fine doing that. We then also used a typical escrow agency.

This was for a house in north san diego priced well above $1M also.

Went quite smoothly. closed 60 days later.

I'd recommend looking into listing with RedFin. They will list your house for only 1%.

Good luck.
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