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re: Home real estate: FSBO vs. Realtor
Posted on 1/24/10 at 8:38 pm to SloMeaux
Posted on 1/24/10 at 8:38 pm to SloMeaux
I sold my own house and bought my own house without a realtor and came out smelling like a rose on both accounts.
I think location of the house you're selling is important. Even if it is on FSOBR or not you need signs/flyers, etc. It took me 12 days to get a purchase agreement.
I think location of the house you're selling is important. Even if it is on FSOBR or not you need signs/flyers, etc. It took me 12 days to get a purchase agreement.
0
Posted on 1/24/10 at 8:54 pm to JWS3
quote:
There is a huge difference between a "realtor" and someone that can "sell" real estate. I am not a realtor, and have tried it both ways. In an up market it is easy, but when things are very competitive you need some one that can convience a potential buyer they can't live without your house, walk them through getting financing and close the deal.
A seller's agent doesn't often (if not ever) get a chance to talk about financing and closing the deal with the buyer.
That is job of the buyer's agent, who has to convince them to do so.
My suggestion to the OP - Before getting into signing with an agent - learn what is needed and necessary to sell the house and if that is something that you can do by yourself.
If you can't do it by yourself but still don't want to pay commission then contact the local Realtors and inform them that you are willing to pay only $X amount(negotiate to pay a lower amount) - I am sure that in this economy, someone will be willing to do it.
This post was edited on 1/24/10 at 10:19 pm
Posted on 1/25/10 at 7:54 am to SloMeaux
I'd suggest starting Fisbo, whether it's for two weeks, one month or two years, depending on your time frame.
Sometimes (not often) a neighbor down the street knows someone whose looking. By simply putting up the for sale sign, the home might flip during the first 10 days. If so, obviously no need for a realtor.
That said, close to 70% of all Fisbos end up going thru a realtor, so at some point one should switch over.
As a broker, I always list my house with myself first. But my last two I eventually pulled the listing from myself and gave it to the local 'Barracuda' .. you want her on your side, not against you.
Sometimes (not often) a neighbor down the street knows someone whose looking. By simply putting up the for sale sign, the home might flip during the first 10 days. If so, obviously no need for a realtor.
That said, close to 70% of all Fisbos end up going thru a realtor, so at some point one should switch over.
As a broker, I always list my house with myself first. But my last two I eventually pulled the listing from myself and gave it to the local 'Barracuda' .. you want her on your side, not against you.
Posted on 1/25/10 at 12:17 pm to LSUGUMBO
quote:
On the other hand, I'm almost finished taking the Real Estate licensing class, so I hope that there aren't too many people out there that want to sell by owner.
Where are you taking it? Online?
Posted on 1/25/10 at 1:05 pm to FredSecunda
quote:
Where are you taking it? Online?
Yeah. It's a lot cheaper than in person, and you can go at your own pace.
Posted on 1/25/10 at 5:19 pm to LSUGUMBO
There is data out there that shows by listing with an agent you will receive more than by selling on you own. Don't quote me on this but I believe it was something like 10-13%
Yea there are several stories of that not being the case but there are many more it was the case
Yea there are several stories of that not being the case but there are many more it was the case
Posted on 1/25/10 at 8:19 pm to BirdDawg
quote:
There is data out there that shows by listing with an agent you will receive more than by selling on you own.
It is almost impossible to prove this unless if there are multiple houses being sold in the same street that were of the same age/similar style/size and sold in the same season.
I would like to see a link to the article - chances are high it could be written by a Realtor/written for a Real Estate company.
Posted on 1/26/10 at 9:28 am to MoreOrLes
quote:quote:You have no idea how much work is actually involved on the part of the Realtors. If it's that easy and lucrative why dont you give it a shot.
I would certainly pay for realtors if the cost were a constant for the services provided and not a percentage of the sale price
quote:
why is selling a 500,000 house any different than a 550000 house and why do they get the extra $3000 for no extra work at all?
LIABILITY is larger for one...but the challenges present to sell one home are most often totally different from another. Comparing commissions totals on just sales prices is totally ridiculous.
FWIW, you lost a lot of credibility with those last two answers. One can conceptually justify reality commissions and fee structures, but not in the way you outlined.
In terms of the OP, the longer your time horizon, the better your shot at making FSBO work for you. And very much like selling a car, the more resourceful you are, the more successful you'll be.
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