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Discuss Latest POF Blog Post: Selling a Home By Owner is Easier Than You Think

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  • Discuss Latest POF Blog Post: Selling a Home By Owner is Easier Than You Think

    It’s true. Selling a home by owner is not nearly as difficult or complicated as most people assume. I speak ... Read more

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  • #2
    This was a comprehensive yet easy to read and interesting article. I have always used a Realtor mostly to ensure I’m priced competitively. The Zillow prices for my area have not been accurate. If I ever were to buy a FSBO I would want the price to reflect the lack of commission that is built into all the other listings.

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    • #3
      Originally posted by StateOfMyHead View Post
      If I ever were to buy a FSBO I would want the price to reflect the lack of commission that is built into all the other listings.
      Yet another nail in the coffin of homo economicus. (As in, would you also ask for a discount if you learned they did their own landscaping?)

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      • #4
        Originally posted by StateOfMyHead View Post
        This was a comprehensive yet easy to read and interesting article. I have always used a Realtor mostly to ensure I’m priced competitively. The Zillow prices for my area have not been accurate. If I ever were to buy a FSBO I would want the price to reflect the lack of commission that is built into all the other listings.
        Why would you do that? What would be the point of not having a realtor if you werent going to pocket the spread. The price is market based, it doesnt/shouldnt depend on padding it for whether or not theres a realtor.

        If you were gonna do that just get a realtor and do less work.

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        • #5
          Originally posted by Zaphod View Post

          Why would you do that? What would be the point of not having a realtor if you werent going to pocket the spread. The price is market based, it doesnt/shouldnt depend on padding it for whether or not theres a realtor.

          If you were gonna do that just get a realtor and do less work.
          The price is market based with the realtor's commission essentially built in as a seller's cost because most properties are listed through agents. If they are doing FSBO therefore saving 6% +/- I'd at least want a split on that savings.

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          • #6
            Originally posted by Shant View Post

            Yet another nail in the coffin of homo economicus. (As in, would you also ask for a discount if you learned they did their own landscaping?)
            No but I would expect a discount if they were no bushes or lawn because they decided not to hire a landscaper.

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            • #7
              Originally posted by StateOfMyHead View Post

              The price is market based with the realtor's commission essentially built in as a seller's cost because most properties are listed through agents. If they are doing FSBO therefore saving 6% +/- I'd at least want a split on that savings.
              nah, the price is what someone will pay, if theres less fees, its more profit, thats it. Who pays commission really just depends, I've seen it all ways buyer both, split, seller both, just depends on market.

              The biggest sin I see with FSBO is most people have no picture taking skills. Like ffs, look at a nice listing and recreate it, if your phone has a "wide angle" option, use that, and please turn on the lights.

              I wish zillow allowed comments so you could talk trash on listings, 500k! it will cost that much to take down the wallpaper and rip out the vomit colored shag!

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              • #8
                Originally posted by Zaphod View Post

                nah, the price is what someone will pay, if theres less fees, its more profit, thats it. Who pays commission really just depends, I've seen it all ways buyer both, split, seller both, just depends on market.

                The biggest sin I see with FSBO is most people have no picture taking skills. Like ffs, look at a nice listing and recreate it, if your phone has a "wide angle" option, use that, and please turn on the lights.

                I wish zillow allowed comments so you could talk trash on listings, 500k! it will cost that much to take down the wallpaper and rip out the vomit colored shag!
                Yep. This is absolutely correct - price is price and any further discussion is not comprehending how markets work.

                Also, it's shocking how many full time realtors do a bad job on pictures - not just the FSBO crew. Additionally, some paid photographers are also terrible at realty pictures - they want a nice picture which is often at odds with a nice real estate picture. For example, they want to zoom in on just the house for that cover photo. But that's dumb if there is a nice big yard! The right picture (showing both yard and house) is at odds with just a nice picture that a typical photographer wants to take. That's where knowing what you are doing can pay off.

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                • #9
                  Originally posted by East coast View Post

                  Yep. This is absolutely correct - price is price and any further discussion is not comprehending how markets work.

                  Also, it's shocking how many full time realtors do a bad job on pictures - not just the FSBO crew. Additionally, some paid photographers are also terrible at realty pictures - they want a nice picture which is often at odds with a nice real estate picture. For example, they want to zoom in on just the house for that cover photo. But that's dumb if there is a nice big yard! The right picture (showing both yard and house) is at odds with just a nice picture that a typical photographer wants to take. That's where knowing what you are doing can pay off.
                  I agree about the pictures, has to be someone that understands the point. I have def seen professional shots taken from a step or two inside wide a narrow lens, like how does that happen. Up close pics of finishings but not the whole room? I guess once you've browsed enough listings you get a feel for it.

                  Always felt they should be in order as well. Always annoying to go backyard, random br, kitchen, front, basement, garage, side yard, local park, etc....that doesnt work.

                  You want people to be able to "see" the house and layout as they go through them.

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                  • #10
                    FSBO has always been an interesting concept to me. I think it is one of those things that people think is such a pain that they don't even bother. You could probably get professional staging and professional photos and come out even further ahead. Same goes for selling a vehicle to a private party. Taking it to a dealer is such a path of least resistance but you can really make it worth your while if you have a good idea about what you're doing and know how to avoid people who are just going to waste your time.

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                    • #11
                      Regardless of how hard or easy it is to sell your own house by owner, getting a buyer’s realtor to think you are not going to be a headache of a seller will not be easy. You will lose all the potential buyers who’s agent tells them trying to buy the house of a FSBO is going to be royal pain.

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                      • #12
                        One has to get over the blacklisting by agents even if you offer coop with buyers agents.

                        ​​​​Zillow and redfin has opened up the playing field as before only MLS exclusive issues. But still agent dominated field and many folk simply won't push agents to show fsbo homes.

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                        • #13
                          Can't wait for RE agents, title, appraisals to be a thing of the past, that day is not today though. Is there any data for FSBO sale to list, days on market, etc compared to traditional? Pretty sure most FSBOs are deceiving themselves when they think they made the best economic decision listing on their own. Saved commission? Sure.

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                          • #14
                            Originally posted by auggie1983 View Post
                            Can't wait for RE agents, title, appraisals to be a thing of the past, that day is not today though. Is there any data for FSBO sale to list, days on market, etc compared to traditional? Pretty sure most FSBOs are deceiving themselves when they think they made the best economic decision listing on their own. Saved commission? Sure.
                            I think there’s such a wide range of FSBO listings. Most of the ones I see have minimal information and the pictures look like they were taken in the dark on an old Razr phone.

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                            • #15
                              I don't think FSBO is hard - I've sold all of my houses that way. But even in good locations, with high demand, I could never get enough viewings - most realtors stick to MLS so if the buyer doesn't find the house themselves, their realtor isn't going to show it to them, though a few might. If I had been on MLS, I think I would have had quicker, better offers. After my last FSBO experience, I swore never again. Too many weirdos that you have to deal with face to face vs. letting the realtor handle them. All three houses I've sold also had a buyer bring an agent, so I wound up paying 3% anyway....and those agents never wanted to do anything for their 3% either. You aren't paying for the realtor, you're paying for access to MLS.

                              Edited to add: I also overpriced my houses and got nowhwere near listing. My last house I actually got a high offer on, but then it wouldn't appraise and the deal fell apart. Realtors always start out with "Ok, I think the house can appraise for xxxx so let's start around there for price." Good ones know how to price right.

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