Looking for advise on selling an overbudget flip: FSBO vs Agent

[Ronda R.]

We just finished our first flip and considering the margins are very slim, we are considering going the FSBO route. I have been reading on the forum here a ton of the FSBO threads. I am considering listing on the FSBO.com site and getting on the mls, paying the 3% buyers agent fee and then holding the open houses ourselves. Do any of you sell your flips via FSBO? And if so what has been your most successful strategies, sites to list on, etc? Thank you in advance for your advise.

[Eric Dowling]

This will come across bias considering I am an agent, but I'll throw it out there anyway.

The fact of the matter is a good agent is worth that extra 3%. The few FSBO's that actually do sell, sell for less then they would get with an agent. One of the reasons wholesalers target FSBO's is to get a deal.

The people looking at FSBOs are 1. Looking for a deal or 2. Lookyloos who can't afford 3. Expect you to come down 6% because there is no realtor.

The people working with agents are motivated, pre qualified buyers.

Bottom line you will net more money with an agent, even after their commission.