Good idea to sell without realtor/agent and go fsbo?

Question

Hello

i have a general question ,in the current market conditions is it a good idea to sell primary residence without the help of a sellers agent ,go fsbo to save some on commission fees? Looking forward for answers from experienced members here

Thanks

Doug Smith · Answer

FSBO sounds like a good idea and many on here will swear by it, but every time I've come up against someone DIYing it, we've gotten tons more than we would have if a good agent was on the other side. I will admit, most real estate agents have no business being in the business, but really, really good ones know the ins and outs of the process, the contracts, and they have the connections to make the transaction smooth. They know which boxes to check, which ones not to check, and they know the tricks. It has been my experience that you save more than you spend if you have a good agent (the word is "good" in this sentence).

Jonathan Minerick · Answer

You can do a flat fee MLS listing ($100-$300), which gives you the marketing exposure of the MLS and all the major portals (Zillow, Redfin, Realtor.com, homes.com, etc) without paying the big commission to a listing agent. You can still offer a commission to buyer agents to incentivize them to bring a buyer.

Dominic Rosato · Answer

And I’d be careful, I’m sure some/all of those calls are wholesalers trying to get your house for pennies on the dollar.

Dominic Rosato · Answer

You can try, but just know you would likely be leaving money on the table. The right realtors can provide tremendous value in marketing & negotiations, and through their connections in the real estate community.

Discount brokers exist, if you’re looking to save money. However, you often will get what you pay for.

Russell Brazil · Answer

If you are asking, the answer is no.

Micala Demchak · Answer

Hi,

I think it's important to assess the price range you're in. Paying a commission may be worth your peace of mind and time if you find it to be a reasonable amount.

Regarding photos, again it's important to assess the price range. For example, most of my flips are around the $350k and below range so I actually take my own photos on my iphone because I've gone the professional route and ended up still using my own. Granted, I am versed in how to adjust the iphone settings and edit appropriately (something you can research).

In regards to putting the property up for sale when a tenant lives there - that could be risky. Will the tenant allow showings? Do you have a good rapport with the tenant? How does the tenant keep the property? The last thing you want is for days on the market to creep up due to the tenant.

Also, I want to caution on a fsbo listing on Zillow. From my experience, buyers need to manually toggle over in the "more" section to see fsbo listings. Most buyers will not know this, therefore your property may not get proper visibility. Back to the price point though, if it's low enough you may gain traction by posting the property in Facebook groups for the town it's in and surrounding towns (yardsale, garage etc). Some may find this unconventional, but I personally have had success with my flips and rentals.

Good luck in whichever route you choose!

Kirsten M. · Answer

If you're really trying to avoid paying a professional to sell your home, consider contacting Opendoor. They will make an offer on your home without seeing it and handle all the logistics. Remember this though -  company makes money by offering a discounted price and selling it on the market for more.

Erik Estrada · Answer

Typically, October-February are the slowest months in Real Estate. But if your home is priced well, and the market is good in your area, it can sell even on the slower months.

The market is usually at its peak in the summer time. But these are obviously generalizations so you might want to speak with a well-versed agent in your community about when it would make the most sense to put it up on the market.

Erik Estrada · Answer

I think your biggest hurdle will be finding qualified buyers. Unless you work with a solid lender that will help you cross qualify any potential buyer. But even then, many people will get cold feet in a transaction and may not perform. This is where a solid sales agent will help you out. When you work with someone that does this on a daily basis, there won't be any surprises. If you do it on your own to save on a commission, you might struggle to hold the transaction together. There are many variables and emotions involved in purchasing a home.

When you work with a solid Realtor, they will ask you all the right questions to get you the most realistic price, marketing strategy, and take charge of a smooth closing.

Caleb Brown · Answer

It depends. FSBO some do very well with it, others struggle to sell. If you do FSBO make sure to do the listings right and not just throw it up for sale. If you do use an agent interview a few, find one that'll work on your behalf. It's not easy as it has been the past few years to sell a property. Market is tighter and buyers are pickier.

Good idea to sell without realtor/agent and go fsbo?

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