Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
We are debating whether to use a realtor or go FSBO to sell our house. It is a buyer's market here in Florida and it is saturated in our neighborhood - more than 40 houses for sale in a community of 500. On the upside, the price of housing here would appeal to first time buyers and is well below the median price for the county.
Even our realtor has noted that with sales prices falling and the sheer amount of inventory available, getting the right buyer may be hard.
I don't mind paying a commission, but I am wondering whether a realtor is really going to market any harder or more effectively than we could on our own? Obviously the MLS listing is not going to make much of a dent when there are listings upon listings in the same neighborhood and price range. We need some very specific marketing and networking, and perhaps luck.
Any feedback? Does it just depend on the realtor? I am assuming that unless someone falls from the sky into our laps, we will need to offer a commission to a buyer's agent anyway to get traffic, so we'd really just be saving 3% on our realtor.
Also, for a FSBO question, I have small kids, and am curious as to how much of a hassle FSBO would be versus using a realtor. Sometimes the hassle factor trumps the money. I've heard that you should always have two adults present for FSBO showings, for safety. This may be logistically difficult.
Thank you.
P.S. I should note we are in a townhouse community where the units are exactly alike. The only differences are interior renovations and perhaps some patio upgrades.
In my neighborhood there is a FSBO house that's been on the market for almost 2 years now. There are also 3 other houses up for sale with realtors. Of course the agencies have changed as the listings failed and new contracts were signed. But none of these homes have sold.
I don't think there are any easy outs. If you must sell now, you are going to have to undercut everyone else's price.
In a market saturated like that...you honestly shouldn't waste any time. List it with a Realtor. Make the home as attractive as possible to other agents IE nice buyers agent compensation, price it very effectively and get it sold before the market drops any more...you want your neighbors homes to help sell yours, not the opposite.
I wish you the best of luck and let me know if I could offer any other advice please just ask.
Trying to show your home yourself (FSBO) could be problematic w/children underfoot. You may want to do showings when they are at school, assuming they're old enough for school.
But when you do that, you cut out buyers that want to see it after school hours. It sounds as if you can't afford to turn anyone away, so I would list. Then, all you would have to do for showing is put the kids in the car and drive to the park.
I've have many Realtor friends who say never FSBO you house, HOWEVER ... I've always FSBO'd my house and always sold it.
It's simple ...
Do these things ...
Anything that needs fixing ... FIX IT.
DE-CLUTTER - rent a storage room if needed.
Keep it clean and fresh smelling.
De-personalize it, no one want to see your family pictures.
Keep rooms looking as large as possible.
Learn to read a shoppers signals.
Talk it up, but don't over talk it.
Point out unseen amenities, like schools, parks, shopping, churchs etc.
Make it bright and neutral, curtains open, blinds up, lights on. No on want to buy a cave.
Fresh paint if needed.
Refresh the landscaping, flowers are cheap.
Keep the lawn mowed.
Just use common sense, think about what would be a warning sign to you not to buy. Look at your home critically as if it was your job to pick it apart ... because I assure you a buyer will.
You can offer a commission to Realtors to bring you a buyer and e-mail them with your listing. Either way you'll save money over the 5%, 6% or higher the some Realtors charge ... and it allows you to sell for a little less and make a little more thus undercutting those that are listed.
One hard thing with FSBO sellers: how will you be available to anwser that phone and get them inside? as a realtor, I have my cell phone 24/7, and we have an agent on duty 24/7 (yes, the phones get diverted to a real person who answers the phone no matter what).
As an agent, when I have called to show FSBO listings, I have found it difficult to catch up with owner and schedule the showings. And many times they get left out of the showing. Know what you can do and your limitations. Realistically assess if you can be available to take the calls and schedule the showings...
One other thing....is your property being marketed effectively where buyers are looking?
The answer is, chances are no. Most buyers begin their search on either realtor.com or some large local brand name Realtors website. The only way to get onto realtor.com is to be listed with a realtor or find a local fsbo website that will put you on the MLS for a flat fee and then you pay a X% buyers agent fee. Now there is still one problem with that...do you get the showcase package on realtor.com (multiple photos)? That is the real kicker. Multiple photos is what really reels the buyers in. Your home being on realtor.com will also ensure your home will be on "most" local Realtor websites provided they subscribe to IDX (internet data exchange).
Also, the suggestions about differentiation are right on. Having a home that is SO very similar to others is tough because it does tend to put the focus on price. It's tricky, because ironically the lower your price, the more a buyer starts to wonder WHY it's lower. Just talked to a FSBO the other day who volunteered that he keeps getting asked what's wrong with his house! (And no, still no buyers for him.)
I'm sure if your townhouse were an end unit you'd have mentioned...hmm.
It's simple, Realtor's (Understandably so) are going to tell you to hire a Realtor's. FSBO'er are going to tell you to FSBO ... frankly I prefer to keep the bulk of my profits. The last house I sold was right at $300K and in my market that would be a $18,000 commission right off the profits.
Far as answering the phone goes, with cell phones that's easy and who calls at 3AM?
To price you house fairly, check the area comps of recently sold property. One trip to the PVA office will do that.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
