The Tenant texted me ...

[SomedaySoon]

We got a fair value range for our house from two local real estate agents and used this information to put a "Make Me an Offer" listing on Zillow. Got a hit in two weeks. They agreed to pay the high end value less 5% we would have had to pay an agent. Lawyer took care of the rest....... If it hadn't sold in three months we would have given the listing to one of the agents we dealt with originally.....

[Mulligan]

Quote:

Originally Posted by Fermion True. Going the other way could open you up to a lawsuit if your timing is off.

I have read some nasty stories there. Listing expires, house sells FSBO afterwards, and the agents come back with legal action whether it was determined to be an up and up FSBO transaction or not. So definitely the safer play is FSBO first.


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[ivinsfan]

Quote:

Originally Posted by Mulligan Well one thing is obviously sure. If one is torn which method to sell, starting the FSBO route first will eliminate the doubt either way. As there will always be the agent option later. Sent from my iPad using Tapatalk

That is true but with the place sitting empty and fall/winter not that far away, that's not foolproof either. It could cost you some money in long run, you would still have to pay the agent and have downtime and costs, and maybe miss peak selling season.

[Sunset]

With OP being 1,000 miles away, being listed on the MLS will be very important and unless an agent is involved how will the place be shown ?

My view is 5% commission is the max one should consider, and many are lower.

I just sold a place it it was nearly 1,000 miles away, it would have been impossible without an agent, she did things like:
- show the house.
- visit the house after a buyer agent showed it, and locked up the windows and doors that were forgotten, turn on/off the water (it was winter).
- Turned on/off lights as needed after a showing.
- Told me someone was parking in the driveway (without permission), and posted a sign to stop that (issue was if they hit the garage door, it would cost me $850).

[Cobra9777]

Many years ago, I bought a FSBO with no buyer's agent. It was a piece of cake. Title company handled all paperwork and closing. Buyer hired a lawyer to look everything over; I did not. The negotiation process was simple and I was able to get a better price because the seller paid no agent.

Every subsequent transaction we've done involved an agent. But honestly, when you look at the compensation vs time and level of effort, it's hard to justify. I'm not sure I'd go full FSBO on a sale. I'd want it on MLS for sure. Might offer 2-3% to a buyer's agent. And I'd use a lawyer this time.

Agents do bring value to the process. There's no doubt about that. I just question whether the standard 5-6% comp is commensurate to the value they bring, especially on a larger transaction. I'll probably use one of the lower cost options next time we sell, but not full FSBO.

[rayinpenn]

Quote:

Originally Posted by ivinsfan This is the biggest problem with FSBO, everyone thinks their place is exceptional and perfect. They can't all be right

Did I say perfect? Hardly I am a realist. The bathrooms are older and could use a redo...but at slightly under $250k... There simply isn't anything. There's a saying out there that kitchens and baths sell the house...

The reality is school districts sell the house. There is an fever out there "I need to get my kid(s) into _____ school district. They will sacrifice anything to get them there...that's why my condo has been rented 99% of the time. (Some bad tenants but it has always been rented..)


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[ivinsfan]

You did say it was a delight..
Relax, I was just pointing out it's hard to be impartial when talking about your own property. Dated bathrooms can be a problem.