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I much prefer a hard working agent. I don’t mind purchasing a FSBO but I refuse to sell that way. It’s too much work and too little market exposure where I live. Someone arranging showings, photography, an MLS entry - all worth it for me to outsource.
Has anyone used FSBO and been happy with their decision: or, is it better to use an agent when selling a property?
It’s really going to depend on your market, your experience level and your depth of knowledge of that specific market.
I’ve done a few full on FSBO, a few flat-fee FSBO, and have been happy (for the most part). It can be a ton of work, and I wouldn’t recommend it for a property you’re not either living in, or very nearby.
A FSBO has a fool for an agent. Just kidding. I wouldn't do it unless I did a lot of research on it or took a real estate course.
I would rather try Redfin or a lower cost process where you can show your own home but still have the guidance of RE agents who know the laws and procedures.
Do people who do FSBO say no agents for their buyers too?
I'd want an agent to handle the credit checks, escrow deposit, inspections, negotiating any items after inspection, and the paperwork for closing. If you can hire an agent after the sale (some will do it for a flat fee), that might be an option.
An agent can also help you with staging your home, advertising on a wide variety of media, and if necessary arrange and sit for open houses. They also can set up appointments at times convenient to the homeowner, and won't show the home to people who aren't qualified for your home price. The FSBO, in my opinion, is open to "look see's", the curious neighbors and the solicitations of any realtor that thinks you should be listing with them.
I'd want an agent to handle the credit checks, escrow deposit, inspections, negotiating any items after inspection, and the paperwork for closing. If you can hire an agent after the sale (some will do it for a flat fee), that might be an option.
An agent can also help you with staging your home, advertising on a wide variety of media, and if necessary arrange and sit for open houses. They also can set up appointments at times convenient to the homeowner, and won't show the home to people who aren't qualified for your home price. The FSBO, in my opinion, is open to "look see's", the curious neighbors and the solicitations of any realtor that thinks you should be listing with them.
What credit check, just ask for a prequalification or preapproval letter from their bank.
Status:
"I didn't do it, nobody saw me"
(set 2 days ago)
Location: Ocala, FL
6,487 posts, read 10,363,068 times
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Quote:
Originally Posted by LifeIsGood01
What credit check, just ask for a prequalification or preapproval letter from their bank.
I am guessing you have never heard of a buyer presenting a false prequalification/preaproval letter? As a former realtor with experience in sales I had seen it happen. Granted it is not common, but it does happen. A professional can usually smell a fake letter from a mile away.
There are many things that most sellers are either unqualified or unwilling to do that makes it well worth hiring a professional. If you are lucky enough to have a flawless closing, it is not required to hire a Realtor or an attorney, but there are always situations that make it worthwhile. It is your choice either way. Just saying ........
Status:
"I didn't do it, nobody saw me"
(set 2 days ago)
Location: Ocala, FL
6,487 posts, read 10,363,068 times
Reputation: 7940
Quote:
Originally Posted by LifeIsGood01
Do people who do FSBO say no agents for their buyers too?
I am sure it happens, but if so, no Realtor would show the home to their client without some commission from the sale. Anybody can make an offer without a Realtor.
I am guessing you have never heard of a buyer presenting a false prequalification/preaproval letter? As a former realtor with experience in sales I had seen it happen. Granted it is not common, but it does happen. A professional can usually smell a fake letter from a mile away.
There are many things that most sellers are either unqualified or unwilling to do that makes it well worth hiring a professional. If you are lucky enough to have a flawless closing, it is not required to hire a Realtor or an attorney, but there are always situations that make it worthwhile. It is your choice either way. Just saying ........
More than just being able to smell a fake, most buyer's agents have actually been in contact with the lender writing the letter submitted with an offer. The lender is usually known to us. We have discussed the lender, home, the loan type, have some expectation that the home will qualify and appraise for the loan... we've discussed the price limit and closing cost assistance needed and the time frame needed for closing, with the lender directly, before submitting the offer.
No.... fake letters wouldn't work with an experienced agent.
More than just being able to smell a fake, most buyer's agents have actually been in contact with the lender writing the letter submitted with an offer. The lender is usually known to us. We have discussed the lender, home, the loan type, have some expectation that the home will qualify and appraise for the loan... we've discussed the price limit and closing cost assistance needed and the time frame needed for closing, with the lender directly, before submitting the offer.
No.... fake letters wouldn't work with an experienced agent.
Which is why I’ve always offered the standard buyer’s agent commission when I’ve done mine. (My area, 2.5-3% is typical). A real agent isn’t going to proffer forward a document they feel is fake - nothing in it for them if it doesn’t fund and close.
It is quite a bit of work. I’ve only done it when I know I’ll have an offer within a week or so. The unrepresented buyers tend to be kicking tires about 85% of the time.
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