Recommended sites for FSBO

[Todd Atkinson]

What are sites that you recommend for advertising FSBO residential properties?

Even though I'm interested in FSBO, any success with asking realtor friend to post on MLS even though no realtor fees will be paid????

Any other FSBO tips are appreciated

[Marcus Auerbach]

@Todd Atkinson a flat fee broker will list it for you on MLS. You can just google one. Then you only have to pay the buyers agent. If you have a broker friend, he could do it, an agent working for a broker will not have the ability. Otherwise you'll find a buyer just posting on Zillow.

However, FSBO is a really bad idea on so many levels.

You can absolutley sell a house on your own, anyone can, in particular in this market! But you will leave money on the table every step of the way, pre-listing, launch, post-listing etc.. I believe that a smart and experienced FSBO can sell a house probably as well as a weak agent. I know how to take advantage of either when I am on the buying side.

If you cater to unrepresented buyers, you are in for a ride! You will talk to a lot of people who don't really have money, don't have their financing lined up, many are just weirdos. If you sell to represented buyers you have to pay at least their agents  commission. You will save comission, but typically you will still net less money.

Buyers first thought on a FSBO is always discounted deal.

The first trick in this market is not to sell a house, but to successfully orchestrate a bidding war and then play it right. That comes with experience.

After you have an accepted offer you have to keep the deal together, manage inspections. If you loose the first buyer and have to go back on market, you've lost your bidding war premium.

And then there is liability. Most deal will be fine, but if your deal goes sideways you have huge liability exposure. Even more so, because as FSBO you atttract weired buyers.

Any agent who does a lot of listings knows that they learn from each transaction and it is often times crazy small things that can make a $10,000 difference for the seller - like how many days you allow before you present an offer. And that is different for every price segment and property type. 

Only experience from many deals gives you that edge. Take it from me, I am in Milwaukee and have no interest in an Indianapolis listing! I also have been an investor long before I got licensed and I remember many of my agents well, and not exactly for their expertise!

If you think working with a pro is expensive, wait until you work with an amateur. Just because you can do something does not mean its a good idea. You can totally cut your own hair, how te result looks like is a different question.

My tipp: spend some time finding a great agent. Over 2/3 of sellers will list with the first agent they talk to. Don't do that, put some effort into finding a pro! It will safe you some headaches and will net you more money.