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Posted on 5/3/21 at 8:18 am to dualed
I sold last house using FSBO. I offered a 2% commission for any realtor that brought the buyer. It was a pretty easy process. I just used a title company to prepare the paperwork.
Posted on 5/3/21 at 9:33 am to dualed
I bought my house from a couple that sold their house by themselves. They had an asking price, I made an offer and they accepted.
Since i was going to finance through Wells fargo and had my current house financed through them and wanted to finance my new house through them... it was easy. Wells fargo did everything except the home inspection. They lined up the closing and requested exact documents from the seller. Very easy process for the seller and for myself.
Since i was going to finance through Wells fargo and had my current house financed through them and wanted to finance my new house through them... it was easy. Wells fargo did everything except the home inspection. They lined up the closing and requested exact documents from the seller. Very easy process for the seller and for myself.
Posted on 5/3/21 at 10:15 am to dualed
Done this. If saving $10K is worth the hassle to you, make your new hobby learning the ins and outs of FSBO. Research, research and some more research. Know enough to sound like an expert on the subject. You'll spend 40 hours learning but it will be worth it. You'll be able to deal with the buyer's agent effectively, which is important.
It ain't easy, but that's why RE agents make money. It's been done tens of thousands of times. The difference is in how much homework you do to know what you are doing.
It ain't easy, but that's why RE agents make money. It's been done tens of thousands of times. The difference is in how much homework you do to know what you are doing.
Posted on 5/3/21 at 10:31 am to dualed
It all depends on the city. Baton Rouge has a great FSBO market and the people who run the website do a good job. Some cities have a small FSBO presence and get blackballed.
Posted on 5/3/21 at 10:34 am to dualed
Bought my last house word of mouth and Later sold it on Facebook for full asking price in two days. Got two more offers the next week for cash. Paper work was simple all online and Buyers mortgage company will let them know what is needed and help with closing. I would never use a realtor.
Posted on 5/3/21 at 11:09 am to herbstreit4
Really depends on where you live and your market.
I still don't understand why anyone really needs a real estate agent. It's just ludacris to me that i would pay someone 6% of my home value to sell my house. The same amount of work is done on a $200k house as a $400k house, so why am i having to watch an extra $12k of my equity go down the drain? It's just a completely stupid and antiquated process that needs an overhaul.
I still don't understand why anyone really needs a real estate agent. It's just ludacris to me that i would pay someone 6% of my home value to sell my house. The same amount of work is done on a $200k house as a $400k house, so why am i having to watch an extra $12k of my equity go down the drain? It's just a completely stupid and antiquated process that needs an overhaul.
Posted on 5/3/21 at 11:23 am to LSU1018
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.
This is something a realtor that has no concept of what their customer thinks and wants would say.
So you think he'll lose half of the $15k b/c he's not experienced, so instead of keeping that $7-8k, he should just throw that away as well and get a realtor? what kind of stupid arse thought process is this?
let's just throw money in the garbage for shits and giggles.
Posted on 5/3/21 at 12:46 pm to dualed
As most have said here...it's doable as a FSBO. However, changing your oil is totally doable and yet Jiffy Lube exists. With the right amount of time, research, and study you can learn to build a rocket ship in your back yard...but do you want or have the ability to? Maybe. Maybe not.
Ask yourself this - you're making one of the biggest financial decisions of your life....if you're not comfortable with how the process works, save yourself a lot of hassle and hire a realtor or a real estate attorney.
Ask yourself this - you're making one of the biggest financial decisions of your life....if you're not comfortable with how the process works, save yourself a lot of hassle and hire a realtor or a real estate attorney.
Posted on 5/3/21 at 1:03 pm to eatpie
quote:
It ain't easy, but that's why RE agents make money.
It's pretty easy. I spent maybe 10 hours of my own time showing my house, negotiating with potential buyers, drawing up the documents, reviewing the inspection report and negotiating on repairs. Those 10 hours were well worth the $16K I saved on commission.
RE agents make money because they've convinced enough people that they are actually needed and that this process is too confusing for the average person to figure out alone. It's not.
Posted on 5/3/21 at 2:14 pm to dualed
It's not very hard to sell by owner.
You can find any form you need on the internet.
Does changing your own oil save you $10k - $20k?
You can find any form you need on the internet.
quote:
yet Jiffy Lube exists
Does changing your own oil save you $10k - $20k?
This post was edited on 5/3/21 at 2:16 pm
Posted on 5/3/21 at 3:01 pm to dualed
There are realtors that are charging reduced commissions. I saw 1 that charges 1% to list.
Posted on 5/3/21 at 3:08 pm to dualed
It's not that hard. The worst part is the jackwaggons you will get calls from. Take good pics and list online.
ETA I's get a burner phone for the listing because your spam calls will increase!
ETA I's get a burner phone for the listing because your spam calls will increase!
This post was edited on 5/3/21 at 3:10 pm
Posted on 5/3/21 at 3:17 pm to dualed
You can get a full listing for 1% + 2.5% for buyers agent.
I buy and sell houses all year. My most successful practice has been to list FSBO, then offer 3.5% commission (yeah it's higher than normal) to buyers agent, which is the same you'd pay for a discount broker. Agents will beat your doors down.
By doing it this way, the agent has more incentive to steer clients towards mine and they absolutely do.
The agent also has more incentive to see it close and not fall apart due to inspection issues, etc.
I buy and sell houses all year. My most successful practice has been to list FSBO, then offer 3.5% commission (yeah it's higher than normal) to buyers agent, which is the same you'd pay for a discount broker. Agents will beat your doors down.
By doing it this way, the agent has more incentive to steer clients towards mine and they absolutely do.
The agent also has more incentive to see it close and not fall apart due to inspection issues, etc.
Posted on 5/3/21 at 3:21 pm to dualed
quote:
What’s everyone’s experience here with this?
Agents will actively NOT show a FSBO house to their clients even if it meets all their requirements. Why? Their incentive structure is fricked up. It's a mafia.
Posted on 5/3/21 at 5:42 pm to bee Rye
Plenty of solid advice in here everyone. I appreciate all of the responses.
I’m in Dutchtown off 74
quote:
Where is said house located
I’m in Dutchtown off 74
Posted on 5/3/21 at 6:42 pm to TeddyPadillac
quote:
This is something a realtor that has no concept of what their customer thinks and wants would say.
So you think he'll lose half of the $15k b/c he's not experienced, so instead of keeping that $7-8k, he should just throw that away as well and get a realtor? what kind of stupid arse thought process is this?
let's just throw money in the garbage for shits and giggles.
I’m definitely not a realtor. I work on the title side so I make the same money whether a realtor is involved or not. I just see so many clueless FSBO that screw themselves out of thousands of dollars bc they do a terrible job negotiating and they don’t know what their house is worth.
For anyone recommending fsbobr, that’s a big waste of money. Everyone goes to Zillow these days.
Posted on 5/3/21 at 9:54 pm to dualed
I’ve sold 2 FSBO with no realtor involved on either side and they both went well. The buyers loan company handled setting up title and closings.
Something to consider is where you’re located and buyers methods in that area, for example, I owned a home near a major Air Force base with a large number of home sales being to military people. I had the home, in a very nice neighborhood, FSBO and priced $20,000 less than the agent advertised homes in the same neighborhood. I had a realtor call that was representing a military family and they were only in town 2 days and she offers to show my house but I didn’t want to agree to her 3% buyers agent fees.
6 weeks later, despite my $20,000 lower price, it hadn’t sold. I ended up calling her and getting her to sell my house for the full 6%, she had been very nice when she called and I knew that she’d sold several homes in the neighborhood, she had a contract on it the first week she had it!
What I didn’t know when I tried to hold out to sell FSBO, is that most military couples have all kind of military benefits associated with buying a home and they have to go by those regardless and most use a buyer agent because it’s part of their buying package provisions, they won’t buy without an agent involved. If I’d known that, I would have accepted the agents first offer to show at 3% and saved myself 3% and two extra months time to sell.
Something to consider is where you’re located and buyers methods in that area, for example, I owned a home near a major Air Force base with a large number of home sales being to military people. I had the home, in a very nice neighborhood, FSBO and priced $20,000 less than the agent advertised homes in the same neighborhood. I had a realtor call that was representing a military family and they were only in town 2 days and she offers to show my house but I didn’t want to agree to her 3% buyers agent fees.
6 weeks later, despite my $20,000 lower price, it hadn’t sold. I ended up calling her and getting her to sell my house for the full 6%, she had been very nice when she called and I knew that she’d sold several homes in the neighborhood, she had a contract on it the first week she had it!
What I didn’t know when I tried to hold out to sell FSBO, is that most military couples have all kind of military benefits associated with buying a home and they have to go by those regardless and most use a buyer agent because it’s part of their buying package provisions, they won’t buy without an agent involved. If I’d known that, I would have accepted the agents first offer to show at 3% and saved myself 3% and two extra months time to sell.
Posted on 5/3/21 at 10:01 pm to HighlyFavoredTiger
I hate to tell people but I’ve always used an RE agent and never paid the fees. I negotiate the other party to pay the fees. Latest house, we were 10k apart and I offered to close the gap 5k if they paid the fees on a 220k house. They accepted and then when they realized it was a worst deal try to renegotiate and eventually just paid it
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