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  1. #1
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    forsalebyowner.com

    I was curious if anyone has sold their home themselves and if they have used forsalebyowner.com. I just got a job in Creston, Iowa and I am going to be selling my house in Ankeny. My realtor at Remaxx is saying that I will probably take a 15,000 dollar loss when it is all said and done.

    Any advice woud be much appreciated.



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    Re: forsalebyowner.com

    Quote Originally Posted by CycloneNick View Post
    I was curious if anyone has sold their home themselves and if they have used forsalebyowner.com. I just got a job in Creston, Iowa and I am going to be selling my house in Ankeny. My realtor at Remaxx is saying that I will probably take a 15,000 dollar loss when it is all said and done.

    Any advice woud be much appreciated.
    When we left our last town I sold our house privately. It's really, really simple. Just make sure you use a lawyer that has dealt with property sales and they handle all the important stuff.

    As far as the selling mechanism...I listed with forsalebyowner (I believe) and multiple other free sites. The actual buyer ended up responding to the sign in the yard of all things.

    You don't have to use a lawyer, the title company can handle most aspects of the sale, but imo it's good to have one hired in your corner to begin with just to be safe.



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    Re: forsalebyowner.com

    I tried going fsbo but it didn't work.

    It CAN work but what you miss out on the most is the market exposure a realtor can bring. With the market being slow and saturated you're kinda in a bind.

    Best case...give it a try and see what happens. If you still want to try to save money give Next Gen a try.

    Best of luck!


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    Re: forsalebyowner.com

    I used it when I sold my house in Davenport. I just had a sign in our yard for about 3 months with no bites at all. I put it on QCFSBO.com and the next day the eventual owner called. That is probably rare but it worked great for us. Like stated before, make sure you have a good lawyer then it is a pretty simple process.



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    Re: forsalebyowner.com

    i have sold 3 houses fsbo. i really only reccomend it in a sellers market. in a buyers market you need all of the help you can get.

    my guess is selling fsbo in a buyers market you will get a lesser amount equivalent to what you would have paid to the real estate agent and it will take longer to sell.

    i generally think it is more of a headache. fsbo buyers (and also sellers) tend to be flakier. they don't have a real estate agent holding their hand making sure they do what is needed to close the transaction (it really isn't hard but you are dealing with inexperience).

    the stats show a lower % of fsbo's actually close.

    i have used forsalesbyowner.com. i think i paid them $800 for my listing. most of the people who called me did not see the listing. it probably depends on your market. i lived in a big market. most people who called saw the signs i put up.

    my wife tried selling her first house fsbo. she had a sign in her yard for 3 months. she then signed with a real estate agent and the next day she got an offer from the person who lived across the street. some people won't approach fsbo's. she would have sold it to him for less then he offered with the real estate agent if he had called when it was fsbo. she rejected his offer mostly because she did not believe he had not approached her earlier.


    Last edited by ffelknirznarf; 05-20-2009 at 03:26 PM.

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    Re: forsalebyowner.com

    We tried selling our house with NextGen (which is about a half-step up from fsbo since you've got a realtor giving you advice), and it didn't work at all. We had a couple dozen people look at the house over several weeks of open houses, but no offers. Our house was kind of unusual, so I think if you've got an easy-to-sell house, fsbo could work. If you've got a unique older home, you're probably best off getting a realtor.

    A couple warnings about fsbo. First, people know you're not paying commission, so some of them expect a fsbo home to be cheaper (which negates some of the savings you get from not hiring a realtor). Second, we wound up switching to a full realtor to sell our home, and she said it wouldn't work to raise our asking price to compensate for the extra commission we'd have to pay her, so don't price a fsbo home too low because you probably won't be able to raise the price if you switch to a full realtor.



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    Re: forsalebyowner.com

    I sold a home using FSBO in the summer of 2003. The fee, as I recall, was $3,000. The advertising was effective, and we made a sale at our target price. I found them to be pretty bad in getting things done to close. I think they tried to operate that end of it on a shoe string to keep their costs down, but their incompetence in this area was a pain in the butt. I closed both ends on the same day (home I was selling and the one I was buying.) I was sweating out the bank transfers and necessary paperwork. It all worked well in terms of $$.

    If I sell another one, I am going to hire a local lawyer that specializes in real estate and do the whole thing myself.



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    Re: forsalebyowner.com

    Quote Originally Posted by AIT View Post
    We tried selling our house with NextGen (which is about a half-step up from fsbo since you've got a realtor giving you advice), and it didn't work at all. We had a couple dozen people look at the house over several weeks of open houses, but no offers. Our house was kind of unusual, so I think if you've got an easy-to-sell house, fsbo could work. If you've got a unique older home, you're probably best off getting a realtor.

    A couple warnings about fsbo. First, people know you're not paying commission, so some of them expect a fsbo home to be cheaper (which negates some of the savings you get from not hiring a realtor). Second, we wound up switching to a full realtor to sell our home, and she said it wouldn't work to raise our asking price to compensate for the extra commission we'd have to pay her, so don't price a fsbo home too low because you probably won't be able to raise the price if you switch to a full realtor.
    Good advice about price....start quite a bit higher. You can always drop down. And here is the first thing people are going to do when you are FSBO, and you'll get dozens of these, they are going to go to the county assessor site and offer you that price or about 5 - 10% less hoping you can't sit on it.



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    Re: forsalebyowner.com

    " i really only reccomend it in a sellers market. in a buyers market you need all of the help you can get. " - I agree with this comment. Also depends on why you are moving, how soon you need/want to move, your current neighborhood/location and how things are moving there, etc. In today's market if you want to move semi-fast get a realtor. If you have all the time in the world or really want to hold out for a great offer - try it alone.
    I tried fsbo for 5 weeks, not one person came through. Have had a realtor now for 1.5 weeks and 4 people have gone through, plus 3 more coming through just today.



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    Re: forsalebyowner.com

    Quote Originally Posted by Chad View Post
    I tried fsbo for 5 weeks, not one person came through. Have had a realtor now for 1.5 weeks and 4 people have gone through, plus 3 more coming through just today.
    This is kind of irrelevant...everyone will have different results. Like I said, we went from realtor to FSBO, and in our case actually had way more serious viewers/offers on FSBO.



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    Re: forsalebyowner.com

    <p>then its not irrelevant its just an experience different from yours.</p>
    <p><font size="1"><i><font size="1"><i>Posted via Mobile Device</i></font></i></font></p>



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