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Updated over 3 years ago,
- Rental Property Investor
- East Wenatchee, WA
- 16,100
- Votes |
- 10,242
- Posts
Seeing lots of FSBOs in your market?
Wondering if others are seeing in their market what I'm seeing in mine?
FSBOs as a % of homes for sale seems a lot higher than I normally see.
I have 5 older / transitioning friends selling their homes now through August. 4 are $500-575k houses, one over $900k. I am sad to see them leave, also surprised they are handling their long-time primary homes on their own.
Additionally, the last 3 estate sales and 2 yard sales I went to plan to sell FSBO also.i ran out of cards. Always ask.
Main reason? Commissions of course. Most think it's 6%, but all mine over $200k have been 5%. Agents should get the word out its 5% (if so).
Other main reason? Assumptions of ease. Easy to value, market, produce and negotiate offers., etc. Surprised by this since I know dealing with buyers and knowing all the disclosures etc isn't common knowledge.
Agents- I think there is a commission level where price resistance will drop. My $950k house friend won't let anyone charge him $50k to do what he thinks he can do. Same with the $550k people. $30k is a lot of $. If the numbers were closer to $29k and $19k I think they'd feel different.
Do realtors / agents see what's happening? Better 4% of something than 100% of nothing I would think. With values rising so quickly, do you all seriously plan to keep it the presumed, antiquated 6% forever? If so, I expect more sellers to say forget you, I'll do it myself.