Anyone had success with FSBO?

NatS2125 · March 2012

We're hoping to put our house on the market soon and give FSBO a shot. We figure it will be nice to save ourselves another 3%. I'm wondering who has sold their home themselves and what resources you used? How did you market your house? Did your buyer have an agent to deal with paperwork? Any info you have is much appreciated!

kaylie622 · March 2012

I've only had experience with it on the buying side but I get the sense that buyer agents are wary of dealing with FSBO houses. We've seen two and in each case the seller was unrealistic and unmotivated. It was also very difficult to get showings scheduled. The whole thing sort of turned us off to dealing with them.

If you do it, I would put something like "will work with agents - bring your buyers!". There was one listing we saw that said that and it made me less skeptical.

NatS2125 · March 2012

I've heard similar stories. We're definitely willing to work with buyer's agents, offering a 3% commission. We just want to save ourselves another 3%. Thanks for your tip!!

MommyLiberty5013 · March 2012

Just be realistic with price. There was a FSBO one street over listed $30k above our's (exact same home, square footage, and age) and we are closing 3/29...they now have hired an agent and are still $20k above our's. Buyers are smart. They will smell an over-priced turkey right away. Just remember that time wasted at too high a price point costs you more money in the long run.

lil_jen051708 · March 2012

Are you going to pay to get put on the MLS? That would be my recommendation if you are serious about it.

bostongirl1983 · March 2012

I've also only have experience with trying to buy a FSBO and it was terrible because the seller was completely uneducated and stubborn. The whole process was long and dragged out, the seller was never available to show or answer questions, he poured over every aspect of the contract, he fought over every dollar. We walked away after a little bit and his house sat empty for months and months.

So with that, I would just recommend research, be reasonable and be flexible with your time to show, and know what your house is actually worth. Also, you should have your own attorney review the paperwork. Good luck!

JacquelineVP · March 2012

As buyers, my husband and I didn't even consider FSBO homes, primarily because we'd rather work with someone who has had lots of experience selling homes. The process is so complicated that it would be easy to miss a step here or a detail there, and that could lead to bigger problems that might cost money or jeopardize the sale of the home. Any mistakes you make are on you, but if your listing agent makes a mistake (which they probably won't, since their professional reputation is on the line in a competitive line of work, and providing you do your research and find a good one) then it's their responsibility to fix it. Being able to pocket an extra few thousand dollars isn't worth the stress and headaches. Selling a home is stressful enough without taking on all the work that your listing agent would take care of.

SusanH. · March 2012

We sold our home without having to do a thing. Various people knew we were building a house so we got some phone calls asking if we were selling. We showed it to 2 people and the 2nd one made an offer right away. We had no agents to deal with. After we agreed on price we each turned it all over to our respective lawyers and they took care of the rest.

smg006 · March 2012

We bought our house FSBO. It was a great experience. We didn't use an agent either. We already knew the area of town that we wanted to live and scooped out the house right when they put it on the market.

It's a desirable part of town. The only advertising that they did was the FSBO website and a sign in front of the house.

The owners were willing to negotiate and I believe we both got a fair deal. I think it's a great way to go.

Anyone had success with FSBO?

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