I'm doing a FSBO in a supposedly hot market area. I feel the house is
priced correctly (per an appraisal) and reflects a FSBO status. I have an
ad in the newspaper and am doing open houses every weekend. I have signs
on the nearest major road directing people to the house. The signs have
actually been more effective than the newspaper ad in getting people to
see the house.

I am seeking suggestions as to what else I can do to increase exposure of
the house to potential buyers (short of engaging a realtor). I see that I
can put the house on Realtor.com for a couple hundred bucks. Would this be
worth it, assuming I offer a commission to buyers' agents? Other sites
like Yahoo and eBay are other possibilities, but I'm unsure of how much
traffic they receive. Any thoughts or ideas?

Thanks, Dee

In article , Dee wrote:
I am seeking suggestions as to what else I can do to increase exposure of
the house to potential buyers (short of engaging a realtor).

That is my suggestion. FSBO means flaky deal to most people.
Most houses are sold out of the MLS system, and that is normally
due to motivated realtors out there showing houses and trying
to make a commission. You might think that you are saving money
somewhere along the line. But in reality, when people see FSBO,
they automatically shoot low-ball offers that subtract off the
realtor commission because they know you don't have a realtor.
You end up paying the costs of a realtor but not getting the
benefits or representation.

-john-

--
================================================== ====================
John A. Weeks III 952-432-2708
Newave Communications http://www.johnweeks.com
================================================== ====================

"That is my suggestion. FSBO means flaky deal to most people.
Most houses are sold out of the MLS system, and that is normally
due to motivated realtors out there showing houses and trying
to make a commission. You might think that you are saving money
somewhere along the line. But in reality, when people see FSBO,
they automatically shoot low-ball offers that subtract off the
realtor commission because they know you don't have a realtor.
You end up paying the costs of a realtor but not getting the
benefits or representation. "


Sounds like an ad for a realtor. IMO, the main advantage a realtor has
is the MLS. And the reason for that is not that it's some great
wonderful tool. It's that the real estate agents have a tight monopoly
like control over it. It could be replaced by a simple internet server
in my bedroom. In fact, that would be better, since everyone could
access it.

Other than that, most of the real estate agents I've dealt with have
been complete idiots. Most were incapable of even doing a simple
discovery to learn what type of houses I would be interested in. Tell
them contemporary, they wind up showing you a colonial they think is
nice and wasting everyones time.

If you know what you're doing and are willing to spend some time, it's
perfectly possible to do a FSBO, especially in a hot market. Do you
really think in areas where people are seeing homes snatched up within
days of becoming available that someone is going to look with a
jaundiced eye at a FSBO? And perhaps you could tell us exactly what
real estate agents do to deserve a commission of $30K on a typical
$500K house that sells in a month in my area? Have the real estate
agents costs gone up 100% in a few years? IMO, these fees are now way
out of line in relation to the amount of either actual work done or
value added.

BTW, I did a FSBO with a condo in the very soft market of 10 years ago.
Took my 3 months to sell it and I got the highest price that any of
the 120 similar units in my complex had sold for in the last several
years. All I did was what Dee is doing, placed some good ads in the
local paper, held open houses and worked with prospects myself.

wrote in message
oups.com...
Sounds like an ad for a realtor.

You got that right. It's almost funny to read replies from certain people.
They really let you know where their income comes from. Of course, as a
result, their opinions are worthless.

As a person who has bought several houses over the years, I know that I
don't think any less of FSBO houses. A few such people have offered to
split the savings they got from having no agent, and it was a good deal.
People who are new to home buying and unaware of what needs to happen may be
cautious about it. An FSBO seller should provide information to reassure
such a buyer by recommending a few professional closing companies or lawyers
(depending upon which is commonly used in your area). Once a new buyer
knows every step of what needs to happen, any fear of FSBO's should be
mitigated.

More than once, the huge paycheck that the agents received on houses I
bought or sold was not earned at all. I knew what I wanted, where I wanted
it and what I was willing to pay. The agent did little more than print out
a listing that I could have retrieved from Realtor.Com. The work was worth
no more than $200. They were paid many thousands.

Beyond that, even when the realtor is allegedly working for the buyer, they
have far too much motivation to close at a higher price than is necessary.
Seems foolish to me.

On 11 Apr 2005 03:02:01 -0700, someone wrote:

Sounds like an ad for a realtor. IMO, the main advantage a realtor has
is the MLS.

I'm not a realtor.

The MLS is certainly an advantage.

I have sold many properties, sometimes with a broker, other times not.

The first thing most buyers want from a FSBO is for the Seller to take
6% less because they don't have to pay a broker. Thus the 'savings'
from no broker would go to the Buyer, and the Seller does all the
work. Or they will come in with an offer - by THEIR broker, and
expect you to pay the commission.

Selling FSBO is not always all that great an advantage. Often people
do it because they "have to" - owe so much they can't afford the
commission. Also, not every Seller is a good negotiator; there can be
awkward moments in which it is helpful to have a broker speaking for
you. How much is this worth? Ahh, that's the Q.

Maybe now that prices have gone thru the roof in many areas, the rate
needs to be attacked for a sliding rate paying less of a percentage on
higher valued properties.

I use a broker when I want more exposure and don't have the time to
deal with the idiots. I go FSBO when I have the time and the market
is active enough to allow less exposed properties to get sold. The
broker is a sales person and I regard them as such and pay the fee for
that service.


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