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Old 04-24-2015, 09:42 AM
 
Location: Near a river
16,042 posts, read 19,004,474 times
Reputation: 15649

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Quote:
Originally Posted by North Beach Person View Post
I wouldn't. I'm knowledgeable in a lot of things, including some facets of real estate, but not enough on the selling end to be confident I could do it.
All I know is marketing, didn't know too much about real estate at the outset. It was lawyer-to-lawyer, so I didn't have to get involved in any legalities. I did learn one lesson though, that lawyers charge down to the milli-second, so keep communications with them as brief as possible. This time I will find a lawyer who charges a flat fee, if there is such a thing,
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Old 04-24-2015, 09:49 AM
 
Location: middle tennessee
1,926 posts, read 995,239 times
Reputation: 7007
My house was in bad shape with a really nice couple of acres yard in a sought after area. I put an ad in the local penny shopper. Sold it " as is" with the help of a title company. Contract within a week. Had to be out in 30 days. All cash.

I moved the morning we closed so the lawyer who helped with probate after my husband died went to the closing. That was all the lawyering I had. He charged me $40.

I don't think I would use a realtor myself, but I don't plan to buy or sell again.
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Old 04-24-2015, 09:58 AM
 
Location: Prescott AZ
6,132 posts, read 9,103,325 times
Reputation: 11545
NEG: I got a RE license just so I could understand the ins and outs of selling. Never used the license in a real job. Now I have tried twice to get this house sold with a realtor who was inept and unable to bring a suitable buyer. This is all within the last 3 years. It was a real hassle with him giving me an hours notice, refusing to do open houses, and other irritants.

The last house I had was sold with help from Help You Sell. I don't know if they are still in business, but it was an awesome experience. One fee (about 4000) and I held the open house. They did the paperwork. They did the market comps, they put up the sign, and advertised. It's the way I want to do it again, when ready.

In the Phoenix market, you don't need to contact any realtors. As soon as you put the house on Zillow, (make me move) you get tons of realtors calling you. They all want full commission. Some will bargain. Most won't.

My conclusion is that even with a RE license education, I still won't do it myself. Could be a nightmare.
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Old 04-24-2015, 10:49 AM
 
Location: Near a river
16,042 posts, read 19,004,474 times
Reputation: 15649
Quote:
Originally Posted by boogie'smom View Post
My house was in bad shape with a really nice couple of acres yard in a sought after area. I put an ad in the local penny shopper. Sold it " as is" with the help of a title company. Contract within a week. Had to be out in 30 days. All cash.

I moved the morning we closed so the lawyer who helped with probate after my husband died went to the closing. That was all the lawyering I had. He charged me $40.

I don't think I would use a realtor myself, but I don't plan to buy or sell again.
The title company did the entire legal transaction? Wow.

I would be inclined to sell "as is," even though the house has been renovated...but not to modern upscale style, more to renovated vintage style. But listing "as is" seems like a red flag that something is wrong with the house (i.e., needs major repairs). It could also bring much lower offers. Not sure what to do about that, because when we're done with the renovations, we are DONE.
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Old 04-24-2015, 11:02 AM
 
2,631 posts, read 1,942,432 times
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It's the "milieu" that you have to worry about. People these days are turned off by FSBO simply because they smell someone "money hungry" looking for more than their real estate is worth, no matter what, and, unless it is a one-of-a-kind gem they just have to have or is something someone (local) has had their eye on for years), they'll just pass it up. If you really want to sell, have no personally known potential buyers, FSBO is a waste of time in most instances.

How did you get a reduced commission? If even mention it, the realtor walks, despite the fact that my house is always staged to the max, and sells itself
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Old 04-24-2015, 11:32 AM
 
Location: Pennsylvania
16,386 posts, read 10,367,917 times
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I would not feel safe trying to sell it myself. Even with all my valuables hidden, I'd wonder if they were serious about buying, curious, or casing the joint.


And I'm not really a people person. I know they're just looking at the size of the closet but keep your nose out of my stuff.


Nope, better off with a realtor.
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Old 04-24-2015, 11:39 AM
 
Location: Near a river
16,042 posts, read 19,004,474 times
Reputation: 15649
Quote:
Originally Posted by PAhippo View Post
I would not feel safe trying to sell it myself. Even with all my valuables hidden, I'd wonder if they were serious about buying, curious, or casing the joint.


And I'm not really a people person. I know they're just looking at the size of the closet but keep your nose out of my stuff.


Nope, better off with a realtor.
In the house we sold, we locked any valuables away, completely out of sight. We also took 50% or more out of the closets, put in storage. It's probably true that anyone going through a realtor could be casing the joint, too. If I lived rural, I wouldn't sell by myself. But, your point is taken...the safety issue.
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Old 04-24-2015, 11:41 AM
 
Location: Near a river
16,042 posts, read 19,004,474 times
Reputation: 15649
Quote:
Originally Posted by TwinbrookNine View Post
It's the "milieu" that you have to worry about. People these days are turned off by FSBO simply because they smell someone "money hungry" looking for more than their real estate is worth, no matter what, and, unless it is a one-of-a-kind gem they just have to have or is something someone (local) has had their eye on for years), they'll just pass it up. If you really want to sell, have no personally known potential buyers, FSBO is a waste of time in most instances.

How did you get a reduced commission? If even mention it, the realtor walks, despite the fact that my house is always staged to the max, and sells itself
Yes, this is what worries me. Perhaps we were just lucky last time. I too, when perusing homes, tend to have suspicions about owner listings. When I see listings on FSBO websites, I often think they're probably overpriced ("owner pride"). This is a stumbling block.
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Old 04-24-2015, 11:50 AM
 
Location: Near a river
16,042 posts, read 19,004,474 times
Reputation: 15649
Quote:
Originally Posted by TwinbrookNine View Post

How did you get a reduced commission? If even mention it, the realtor walks, despite the fact that my house is always staged to the max, and sells itself
I did all the marketing myself. I put it out there about the reduced commission, expecting no bites at all. I was really surprised at how many. May not work in all areas of the country (?)

Besides the commission issue, I think doing FSBO keeps the seller in control. I communicated (just once) with those visitors who gave me their email addresses, letting them know of a price reduction. No realtor I interviewed kept such track of the visitors, it never occurred to them to go the extra mile.

A friend of mine could not sell her house for over a year, despite living nearly adjacent to a university. I listed her place on the U website and she got a buyer. No realtor thought of doing that. They just do the standard stuff.

I was also in control of my showings—I would not schedule at rush hour (there was a highway close by) or when the kids were at home next door screaming at play. I didn't have to resist any "let us just pop in real quick" requests, giving me 24 hours to clean.

One mistake FSBO sellers do, I think, is follow the visitors around from room to room pointing out all the wonders. I met them at the door, told them which way was what, and they could find me out on the deck with any questions. I did not leave the premises. There was nothing visible to steal.
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Old 04-24-2015, 12:22 PM
 
14,273 posts, read 24,029,111 times
Reputation: 20106
Quote:
Originally Posted by newenglandgirl View Post
I was also in control of my showings—I would not schedule at rush hour (there was a highway close by) or when the kids were at home next door screaming at play. I didn't have to resist any "let us just pop in real quick" requests, giving me 24 hours to clean.

One mistake FSBO sellers do, I think, is follow the visitors around from room to room pointing out all the wonders. I met them at the door, told them which way was what, and they could find me out on the deck with any questions. I did not leave the premises. There was nothing visible to steal.

I have purchased four homes and toured several hundred over the past twenty years. I do NOT look at FSBOs under any circumstances any more.

First, I do NOT want to deal with the owners when I am looking at a house. My wife and I always carry a notebook and if we are serious about a home, we like to make a list of what needs to be done to a home to make it our home. You cannot do that when you have the owner looking over your shoulder

Second, FSBO sellers generally have no idea of what their homes are worth. They DO know what they paid for the house and what they owe on the house. If you think that I am going to pay $140k for a house that sold for $140k in 2000 when similar houses on the street were selling for $75k, you are crazy. I am sorry that the owner is about 12 feet under water but that does not concern me.

Third, I have had TWO FSBOs refuse basic inspections - termites and a general inspection.

When we purchase a place, I pay cash and am willing to close in 14-21 days.

Buying through a real estate agent is far easier and less prone to hassles.
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