2023 Real Estate Observations (Boston: photographs, negotiate, video)

[newenglandgal123]

Originally Posted by matrix5k

If it's that easy to save thousands, then why is FSBO so uncommon? People sell cars privately all the time, but houses not so much.

Lots of folks are unsure of their negotiating abilities and get too emotional. If someone raised their kids in the house and a buyer walks in and says how horrible the bright pink paint is in the daughter's bedroom for example, then they make an offer that isn't quite acceptable, most sellers will have a hard time removing their emotions and negotiations probably won't go over so well. Also, you have to be up for doing showings and fielding all the calls from agents. Some folks don't want to do that.

[yesmaybe]

Originally Posted by matrix5k

If it's that easy to save thousands, then why is FSBO so uncommon? People sell cars privately all the time, but houses not so much.

Realtors deliberately shoo their clients away from FSBO.

[newenglandgal123]

Originally Posted by yesmaybe

Realtors deliberately shoo their clients away from FSBO.

I've sold many of my properties FSBO. I always offer 2% commission to buyers agent and it's stated in the MLS. Never had an issue getting showings.

[jayrandom]

Originally Posted by redplum33

I would think that the people judging would judge based on the current value (dare I say the Zestimate?).

See, I would think that isn't the case. My house doubled in value (approximately), but my income didn't double. There's no way I would be able to afford my current house. Someone buying in my neighborhood now is likely in a completely different income bracket, especially since some of the houses in my neighborhood are complete teardowns that are selling for close to triple what I paid for my house. It's a different set of people buying near me now. That's reflected in other ways, things like the kinds of vacations I choose to take, the kind of car I drive, even the clothes I wear and the food I eat. I'm sure that's even more true for the people that bought long before me.

At least for now I've been lucky enough to not run into snobby, wealth-obsessed people. If I did, though, they'd notice the disconnect between my lifestyle and the current value of my house.

[matrix5k]

Originally Posted by newenglandgal123

Lots of folks are unsure of their negotiating abilities and get too emotional. If someone raised their kids in the house and a buyer walks in and says how horrible the bright pink paint is in the daughter's bedroom for example, then they make an offer that isn't quite acceptable, most sellers will have a hard time removing their emotions and negotiations probably won't go over so well. Also, you have to be up for doing showings and fielding all the calls from agents. Some folks don't want to do that.

What negotiation? More often than not, the seller either accepts your offer or takes someone else's. Not much back and forth negotiation like in Pawn Stars.

[BostonMike7]

Originally Posted by matrix5k

LoL did you still have to pay that fine while you were in Japan?

“Since we are unable to definitively identify it was you, we will reduce to a warning”. Or some BS like that.


I will never live under an HOA again.

[newenglandgal123]

Originally Posted by matrix5k

What negotiation? More often than not, the seller either accepts your offer or takes someone else's. Not much back and forth negotiation like in Pawn Stars.

Actually, there can be quite a bit of back and forth. Buyer 1 says I'll offer you $600K (this is $50K over list lets say for sake of example) but it is contingent on selling their house first. Seller says, I like your monetary offer but I have another buyer that's offering just $20K less than you but it's not contingent upon them selling their house first. We'd like to pick your offer if you can remove that home sale contingency. Buyer 1 says, sure if that gets us the house we can do that cuz we have cash and don't actually need to sell our house first, we just wanted to if we could.


Just one of the many scenarios that can play out.

[matrix5k]

Originally Posted by newenglandgal123

Actually, there can be quite a bit of back and forth. Buyer 1 says I'll offer you $600K (this is $50K over list lets say for sake of example) but it is contingent on selling their house first. Seller says, I like your monetary offer but I have another buyer that's offering just $20K less than you but it's not contingent upon them selling their house first. We'd like to pick your offer if you can remove that home sale contingency. Buyer 1 says, sure if that gets us the house we can do that cuz we have cash and don't actually need to sell our house first, we just wanted to if we could.


Just one of the many scenarios that can play out.

So people are afraid to save thousands thru FSBO cause they're too scared to counter with a no contingency clause?

[newenglandgal123]

Originally Posted by matrix5k

So people are afraid to save thousands thru FSBO cause they're too scared to counter with a no contingency clause?

You'd be amazed how many people are intimidated by the home selling process and feel like they 'need' a realtor to list no matter what.

[BosYuppie]

FSBO is a lot of work. A guy I know was FSBOing his house and he had to carry a separate phone that was constantly blowing up with all the people you gotta talk to at all hours.

If you're gainfully employed already, it's not terribly hard to justify outsourcing all that effort.