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dualed
New Orleans Pelicans Fan
Member since Sep 2010
4257 posts

Looking to sell house via FSBO. Please offer advice and experiences.
I got a well paying job recently and my wife and I are going to be looking to upgrade to a larger house in the near future. A house down my street with a nearly identical floorplan just sold for 240k and I can’t wrap my head around paying realtors 15k on a sale.

How much of a pain in the arse is the process of FSBO? I don’t even know where to start. figure I need to have some sort of paperwork to sell “AS IS”. I’m not looking to screw anyone and would be more than happy to list everything wrong with the house to be transparent. I just don’t want anything to come back and bite me in the arse for missing something on accident.

What’s everyone’s experience here with this?


Phideaux
Montana Fan
Cades Cove
Member since May 2008
2308 posts

re: Looking to sell house via FSBO. Please offer advice and experiences.
Have only purchased w/o realtor using a title company to do the closing. We bought as is with mandatory state requirement on termite inspections and had no issues. Your problem may come from unexperienced home buyer or someone not will to do “as is” if there are issues they do not want to fix with as an owner. If you are in a demand housing market area it should be an easy process.


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30
Mahootney
Florida State Fan
Lovin' My German Footprint
Member since Sep 2008
10494 posts

re: Looking to sell house via FSBO. Please offer advice and experiences.
Paperwork is pretty standard. You can copy the contract that you bought the house with and use it to sell.
But the correct forms are all online.

Biggest pain is dealing with the people wanting to see it.


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191
Bazzatcha
LSU Fan
Member since May 2017
449 posts

re: Looking to sell house via FSBO. Please offer advice and experiences.
Take pictures, list on Zillow for free and or go to FSBOBR and list for a fee.

Selling FSBO is much harder to do, but not impossible. Most buyers like having a realtor involved because they don't understand all the nuances of home buying and it gives them comfort knowing they have a professional to make sure they aren't doing anything stupid. Also, your listing will not be on the MLS which means it will not come up on most search engines. If you luck up and come across a savvy buyer who really likes your house, you can pull it off but it could take a while.

My suggestion is if you do go FSBO, include a buyers agent welcome at 1.5 or 2.0% to get the buyers who are already working with an agent a reason to buy from you.

You can also find a realtor who will list your home on the MLS for a flat fee of $500-1k, and a buyers agent fee of 1.5-2.0%.

In todays market, you can increase the sale price of your house to cover the fees and still clear what you were hoping to make.
This post was edited on 5/3 at 5:48 am


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191
BowDownToLSU
LSU Fan
Livingston louisiana
Member since Feb 2010
15501 posts

re: Looking to sell house via FSBO. Please offer advice and experiences.
We are selling our parents house ( they are deceased) and I can tell you what not to do. Don’t list it on Facebook market place Getting DM at 2am “ U still got house for sale? What I got to do to get it? “


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380
lsualum01
LSU Fan
Member since Sep 2008
1645 posts

re: Looking to sell house via FSBO. Please offer advice and experiences.
All the forms you should need are found on the Louisiana real estate commission website under “mandatory forms. You must fill out a seller’s disclosure and get a termite certificate once you are under contract before you can close. Depending on how old the home is, you may also have to complete the lead based paint addendum. If you have private sewer (e.g modad or septic tank) and/or private water system (water well) then you should complete those addendums and have the inspected once you are under contract.
As for the actual house selling process, remove your personal effects and clutter from the house. Hire a real estate photographer to come take photos of your home. To me this is well worth it because most FSBO’s I see have crappy cell phone photos with poor lighting. Your pictures are important. List on FB marketplace, zillow. Not sure where you live but if in Baton Rouge, you may consider FSBOBR.com. There are something called virtual listing agents that will actually list your home on MLS, provide you with all the paperwork, take photos, etc. If not, you can just pay to have the home listed on MLS. Decide if you want to offer a buyer’s agent commission. Even something as low as 2% may be enough incentive to have an agent to bring you a buyer and then they can handle the paperwork for you. In deciding what to list your home for, find the sales in your neighborhood on a $/Ft2 basis and adjust to yours to determine a price. It may be worth it to pay an agent a small amount to do a comparative market analysis or get a broker’s opinion of value to make sure you are asking a fair amount. Do not offer any concessions upfront to buyers, as it is a seller’s market. If you are not good at negotiating, then get someone to help you, as you can lose whatever you saved by not hiring an agent if you let a buyer/buyer’s agent work you down on the price. Many will try to get you under contract but wait for the inspection to come back and then try to beat you down for repair cost on Knick knack items. Lastly, make sure you accept an earnest money deposit. $1000 is a pretty standard amount. Good luck.
This post was edited on 5/3 at 2:22 pm


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90
kywildcatfanone
Kentucky Fan
Wildcat Country!
Member since Oct 2012
81448 posts

re: Looking to sell house via FSBO. Please offer advice and experiences.
quote:

What’s everyone’s experience here with this?


Sold my last 2 houses FSBO, including last year in June right in the middle of all the lockdowns.

I posted in Zillow that I would give an agent 3% for bringing me a buyer, and told every one that called that I would do it as well.
As long as the agent knows they will get something, they will bring buyers to your house.



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150
LSUSUPERSTAR
USA Fan
TX
Member since Jan 2005
14962 posts

re: Looking to sell house via FSBO. Please offer advice and experiences.
Get someone that takes great pictures. I've seen so many listings, even ones by realtors, that the pictures look like shite and it really slows traffic down.

If you are in a hot market, listing fsbo, you should have a full listing offer in less than 14 days and in less than 7 days if you use a realtor.
This post was edited on 5/3 at 6:30 am


KLSU
LSU Fan
Baton Rouge
Member since Sep 2003
8712 posts

re: Looking to sell house via FSBO. Please offer advice and experiences.
Process isn't hard but unless you have a highly sought after neighborhood you might not come out much better.

Like someone mentioned before me a lot of buyers do not like going to see houses where the owners are present.

I listed 3 houses FSBO and only sold 1.

First house was on the market for a month and had 2 people look at it. Listed with realtor it sold in a week.

Second house was on the market for a little over a month listed with agent sold in 2.5 weeks

The one house I did sell probably would have been about the same if I would have listed with a realtor as I took less because I was ready to move on. The day before it sold I had called and agent and was in the process of signing with them when the offer came in.

It all just depends on what you feel like dealing with in life. Good luck.
This post was edited on 5/3 at 6:45 am


GeauxGoose
Nonya
Member since Dec 2006
2003 posts
 Online 

re: Looking to sell house via FSBO. Please offer advice and experiences.
Just to add to the ongoing advice....you may want to sell house as is with no repairs, but if a potential buyer comes calling with a rural dev. Or FHA loan, that shite flies out the window. Unless you have a newer home with little to worry about as far as repairs


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subMOA
LSU Fan
Komatipoort
Member since Jan 2010
1386 posts

re: Looking to sell house via FSBO. Please offer advice and experiences.
It’s VERY easy- NEVER use a Realtor.

Remember- the responsibility is on the buyer to make sure it’s all right. And- the bank won’t let them screw that up.

You advertise, get a signed agreement, and go to closing by whatever day y’all agree to. Lawyers and banks handle the rest.

We did this a few years ago and had asking price offers from 3 different people in less than a day. Realtors are a joke.

ETA- LSU Alum and others made me want to add this- I work in marketing. The pictures have to be awesome- not just good. We spent 2 days staging the house. I also bought the domain1234Briarwood.com and got a burner cell phone just to deal with the calls.

But- you have to be prepared- we sold in a day- but I was in it for the long haul.
This post was edited on 5/3 at 7:00 am


Crisprdestroyer
Member since Sep 2017
25 posts

re: Looking to sell house via FSBO. Please offer advice and experiences.
By a sign and put in yard. If it works it works, but what ive seen happen is a bunch of realtors will come by asking to list it and they will usually be more open to negotiate their percentage.


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80
kywildcatfanone
Kentucky Fan
Wildcat Country!
Member since Oct 2012
81448 posts

re: Looking to sell house via FSBO. Please offer advice and experiences.
To add to what I did, I had a home inspection prior to putting mine up for sale. That basically told me the things that would need to be repaired or updated, and I did those. The inspection cost me $300, but I probably saved at least $2K on repair items overall.

The buyers inspection did come up with something not on my report, but it wasn't a big issue to resolve.


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Seersucker
USA Fan
Member since May 2019
100 posts

re: Looking to sell house via FSBO. Please offer advice and experiences.
quote:

Get someone that takes great pictures.


100000% this for sure. I did FSBO back in Sept, and thought I would just take some iPhone pictures and be done with it. My wife convinced me to use a pro, and when he was finished editing I couldn’t believe I was looking at pictures of the same house.

I had an offer above my asking price in 2 days.


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11
LSU1018
LSU Fan
Baton Rouge
Member since Feb 2007
6984 posts

re: Looking to sell house via FSBO. Please offer advice and experiences.
I would suggest you get a realtor this time and pay attention to what they do so you will have more knowledge to sell it fsbo next time. You would probably lose at least half that 15k by not being experienced.

If you decide to go FSBO, the title company can help you draw up all the necessary documents.


Strannix
USA Fan
Banana Republic
Member since Dec 2012
35242 posts

re: Looking to sell house via FSBO. Please offer advice and experiences.
Its fairly straight forward and a simple process, the only trouble you'll have is being harassed by the real estate mafia trying to protect their racket. What a joke.


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43
Strannix
USA Fan
Banana Republic
Member since Dec 2012
35242 posts

re: Looking to sell house via FSBO. Please offer advice and experiences.
quote:

I would suggest you get a realtor this time and pay attention to what they do so you will have more knowledge to sell it fsbo next time. You would probably lose at least half that 15k by not being experienced.



clown world, in this market??


LSU1018
LSU Fan
Baton Rouge
Member since Feb 2007
6984 posts

re: Looking to sell house via FSBO. Please offer advice and experiences.
I think plenty of people can sell a house themselves but the fact that he even admitted that he doesn’t know where to start says all you need to know.


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70
DarthRebel
USA Fan
Tier Five is Alive
Member since Feb 2013
15331 posts

re: Looking to sell house via FSBO. Please offer advice and experiences.
My advice is get a realtor.

If your time is not worth anything, go FSBO. If you value your time get a professional.

The market is flaming hot where I am, so I could go FSBO. At the same time I am probably going to get over ask and that can offset commission.

Buyer's agent is going to want their slice as well, so you are cutting that $15,000 close to half. Your savings just dropped to 4 figures.

My parents did FSBO once and said never again.


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herbstreit4
Ohio State Fan
Buckeye Lake
Member since Dec 2007
1686 posts

re: Looking to sell house via FSBO. Please offer advice and experiences.
Realtors are as useful as travel agents. A simple Google search for your states Contract and Disclosure form is all you need. Take great pictures and list it on zillow for free. In your writeup offer a 2% commission for buyer agent.
I sold my last personal home and past 5 flips FSBO and have had zero issues. 2 of those flips were with no realtor involved on the buyers end.
The Title agents are the Rockstars of the real-estate world. They do the majority of the work in a transaction
This post was edited on 5/3 at 7:33 am


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