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Old 09-24-2019, 02:03 PM
 
460 posts, read 417,293 times
Reputation: 1226

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If you do FSBO, then get an appraisal and/or a CMA from a good agent. As much as you think you know the market, you are not objective and don't have a lot of information that a Realtor/appraiser can access.

I frequently see FSBOs that are priced too high or too low.
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Old 09-24-2019, 04:37 PM
 
Location: California
4,590 posts, read 5,567,007 times
Reputation: 9896
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 youíre not using a agent doesnít 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.

Well said!

It shouldn't costs thousands to fill out a simple standard form but the sales people assume sellers can't figure out anything without their supreme guidance.

Start by skimming through this: https://store.nolo.com/products/sell...ouse-sell.html and other for sale by owner information, but always have a real estate lawyer review the paperwork. Yes, they are expensive but far less than paying commissions for getting jerked around.

Keep your money in your own pocket - you are the one who earned it!
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Old 09-25-2019, 03:32 AM
 
1,273 posts, read 941,743 times
Reputation: 2684
Given that you are probably going to have to pay the 2.5-3% for the buyers agent, will the cost of potentially holding the home for another year exceed the additional 2.5-3% you think you’ll save by not listing it with a realtor yourself? You’re still going to have to pay taxes and other holding costs, even if the mortgage is paid off.
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Old 09-25-2019, 07:14 AM
 
6,505 posts, read 6,601,393 times
Reputation: 9920
Just use Redfin or some other less expensive realtor site.
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Old 09-25-2019, 07:21 AM
 
Location: Columbia, SC
9,180 posts, read 18,277,844 times
Reputation: 6868
Quote:
Originally Posted by Chas863 View Post
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.
Correct.

Quote:
Originally Posted by Chas863 View Post

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.
I think you place weight on the wrong part of the agents job. The agent exists to help the buyer locate a home and navigate the transaction once under contract, with the more important part currently being to help navigate the transaction to closing. The best agents will identify and prevent/solve potential/existing problems better than most buyers or sellers. Honestly, finding the home is the easy part. But otherwise, I don't ultimately care much if a buyer chooses to work with an agent or not when they buy. To each their own, I just want people making informed decisions.

Also, I assume the reason you're saying that is since you assume their is no buyer agent, the seller should be more negotiable since they don't have to pay an agent. That's the problem most fsbo's have. They actually end up buckling and netting the same amount or even less while having to do more work. I've never liked more work for less pay. The reason for netting less is they have less exposure, meaning less potential buyers, and the buyers that do come in expect a discount since there is no agent to pay.

Anyway, again to each their own. I just like people making informed decisions.
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Old 09-25-2019, 07:22 AM
 
Location: Columbia, SC
9,180 posts, read 18,277,844 times
Reputation: 6868
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 youíre not using a agent doesnít 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.
I agree with you, yet when the money is on the table the FSBO buckles almost every time.
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Old 09-26-2019, 10:53 AM
 
Location: Just south of Denver since 1989
10,979 posts, read 29,664,085 times
Reputation: 7220
I sold a make me move on Z for $40,000 less than market two and a half years ago. Buyers were over the moon. Sellers bragged to the closing agent, we got a full price offer. A copy of the appraisal was in the closing package for the buyer.

We had a great laugh.
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Old 09-28-2019, 12:50 PM
 
Location: Floribama
15,369 posts, read 31,976,583 times
Reputation: 14276
I have one for sale now that I considered listing myself, but I really have no clue how to help people get approved for an fha loan, etc... realtors are experienced with that kind of thing.

If I were selling an older home that’s cash only I could sell it myself easily.
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Old 09-28-2019, 01:41 PM
 
4,112 posts, read 2,319,318 times
Reputation: 4815
I think FSBO and a real estate attorney is the way to go. A service like Redfin and utilizing an attorney is way better than shelling out commissions to a real estate agent.
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Old 09-28-2019, 06:42 PM
 
Location: Raleigh NC
10,073 posts, read 7,567,139 times
Reputation: 8665
Quote:
Originally Posted by RJ312 View Post
I think FSBO and a real estate attorney is the way to go. A service like Redfin and utilizing an attorney is way better than shelling out commissions to a real estate agent.
just because I'm curious ...

you understand that Redfin is a brokerage? That in . markets where they operate - and they're nowhere close to everywhere - they have a 1% or 1.5% listing fee. And whatever the co-op fee in said market is, yes?

So, if someone wants to assume Redfin is the way to go in their market. And commission is what everyone thinks it is - 6% (3% each side).

Then Redfin = 4-4.5%.
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