Home Selling in 95762>Question Details

Judith Fratus, Home Seller in El Dorado Hills, CA

FSBO in this market, will this work in El Dorado Hills? Lakehills area.

Asked by Judith Fratus, El Dorado Hills, CA Thu Mar 31, 2011

I plan on selling my own home in El Dorado Hills. I just had an appraisal done and am going to be competitve with my price. I enjoy marketing and showing my home, is this a bad idea? I need the extra $25,000 or so.

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13
Judith,
Pricing is key, and showing your home is fine, but chances are this is a bad idea. I've been in full time professional sales for 30 years, the past 10 in Real Estate. I tried to sell a home myself 15 years ago when the market favored sellers much more than today’s does. I had very little success. Once I listed it, we had an offer within a couple weeks.
Showing your own home is risky on 2 fronts. First, personal safety; when an agent brings a buyer to a listed home they know the buyer, have contact information and a belief if not proof that they are qualified to buy a home. When someone calls to see a FSBO, they may be sincere or not, but you are taking the risk fully on yourself without having any background on who you let through your door.
Second, if they are sincere you may reveal too much information about your home and plans that a good negotiator can use against you. When I show a home and the seller stays in the house, I gather all the information I can to benefit my buyer should they like the house.
If you want to sell real estate, get a license and learn from an established professional. Don't put yourself or your sale at risk. A good agent brings value to a transaction and is worth more than they get paid, but a bad one, or none at all will cost you thousands more. Best of luck however you decide.
1 vote Thank Flag Link Thu Mar 31, 2011
While trying the FSBO route is tempting, please keep in mind that this is a
very difficult profession and you should strongly consider hiring an agent
who has been selling homes for many years and has seen the changes
the market has gone through and understands this is not a 40 hour, 5 day
per week job.
I live in Lake Hills and we are sort of "off the usual track" as far as
buyers go. Its great living back in here amongst the wildlife but you need
a professional to bring the buyers in.
I urge you to reconsider.
0 votes Thank Flag Link Mon Jun 30, 2014
This is a great question for those looking to sell their homes without a Realtor. For Sale by Owner (FSBO) seems like a great way to save money. During slow or normal market conditions, there are some clear challenges to home owners to plan to go it alone.

1. Your home will not be marketed competitively with other comparables on the Market. For example, Buyers who use the traditional market place to browse available homes will not see yours.

2. There is a lot of administrative work that your listing agent does for you behind the scenes from start to close. You will have to do this yourself and likely struggle through it because it's unfamiliar to you.

3. Most importantly, your local Real Estate professional has access to the MLS and knows exactly what competition you're up against and knows how to competitively market your home to sell.

I love being connected to people doing FSBOs. I understand your drive and motivation. Please give me a call. I can work with you. If after we talk, you still want to go it alone, I will help guide you through the process for free.

Danielle Sweet, ZipRealty, Inc.
Realtor®, Licensed in CA, #01921756
dsweet@ziprealty.com
916.934.2120 | Fax: 877.625.2296
My profile: http://www.ziprealty.com/agent/dsweet
0 votes Thank Flag Link Tue Jun 17, 2014
Judith,
Did you decide to use a relator or try to sell your home? Im curious to what you decided.
Thanks Brenda
0 votes Thank Flag Link Fri May 18, 2012
I bought my 2nd home in Lakehills in 1981 and we love it. The deer have become special to us.

I do understand not wanting to pay a commission but there are a few things that you may or may not
have considered.
1.) The State of Ca says all Sellers must supply the buyer with the State mandated disclosures. You
may not have access to these and they are Vital for your protection.
2.) Although I consider Lakehills very safe, it is not safe to let strangers into your home to see it. When
a home is listed by a Realtor, potential buyers must arrange through them to see your home by
appointment and must be accompanied by that agent.
3.) Open house is another potentially dangerous time. My husband and I are both Brokers and we
never hold Open House alone. We are there together and never leave each other.
If you would like to discuss selling your home and the advantages of using our services, please call
us.
Ed and Jill Berni
916-933-0555
0 votes Thank Flag Link Mon Feb 13, 2012
FSBO in this market? This will help market the region:

"VIDEO TOUR" of El Dorado Hills, Cameron Park, and Shingle Springs, California.

View and share: http://www.youtube.com/watch?v=nv9_39dTggU

Web Reference: http://www.sierraproperties.com
0 votes Thank Flag Link Mon Nov 21, 2011
The answer is absolutely you can sell your own home in this market. However, you might want to consider the following issues.
1) Legal Liability do you have special insurance to cover liability of sale with buyer?
2) Legal Forms. Do you have the legal contracts necessary to complete the sale.
3) Required CA Disclosures. This is where most of the liability is in a for sale by owner sale. The owner does not give required disclosures to the buyer. Do you have the disclosures. This consists of about 30 form pages.
4) Property Exposure. Are you prepared to spend the necessary money to give your home enough exposure on the internet to get it sold. Costs can easily be $500/ month.
5) Weekly Open Houses. With no MLS and Agent exposure with 10,000 immediate potential buyers you will mostly need to rely on Open Houses. Can you do Open Houses yourself? You should do these every Saturday and Sunday from 1-4pm.
6) Are you prepared to allow unqualified and non-screened buyers walk through your home. Agents pre-screen.
7) Have you selected a Title and Escrow Company to process the sale?

These are only a few of many items you need to consider when selling your home.
Web Reference: http://wwwrwplatinum.com
0 votes Thank Flag Link Wed Aug 31, 2011
Tricky Question but some food for thought. 8 of 10 FSBO's eventually list with a realtor. You are currently in a declining market, so the more time you spend the less $$$ you will get for your home. A great point from Alan Robinson was most buyers are working with an agent and agents will show properties that are offering a commission before showing any FSBO's, if at all. Get a comparitive market Analysis of your home to make sure you are at the right pricepoint, I wish you the best of luck!

Bianca Wittenberg
Broker Associate
Lyon Real Estate
916-889-6620
Always avalible to answer your call!
0 votes Thank Flag Link Fri May 6, 2011
Finding a buyer and closing a sale with a buyer is a big difference in today's real estate market. Then there is the whole legal exposure and all the mandated seller disclosures that must be filled out correctly. I wish you the best of luck with selling your home.
Flag Sun May 11, 2014
Judith,

I have to agree with Bill..this is a tough time to sell homes if not distressed. Also, you are FSBO you are really limiting your exposure to the entirety of the buyer pool available. A good agent is worth their weight in gold in normal times much less these tough economical times.

My question to you would be are you doing no-broker cooperation, meaning if an agent had a buyer looking for the type of home you are selling, were you not willing to pay a sale commission to that Agent even if you are not paying a lsiting commision? Because for argiments sake, lets say your home is 1 of 3 homes that an Agent with a buyer is looking at and your and the other homes were priced the same and equal in all other qualities, but the other one unlike yours, was listed with a Selling commission; many agents wouldnt even bring their client to your home and would show the other 2 homes. Just food for thought.

I do have a Sell or its Free guarantee that you may find advantageous. Either way good luck in the sale!
Web Reference: http://www.soldin45.com
0 votes Thank Flag Link Wed Apr 27, 2011
Remember, price war AND beauty contest. Make sure you keep the home in tip-top shape with great curb appeal to help you in getting it sold. If you are making house payments, take into consideration of what it might cost you in interest if the home doesn't sell... it may be worth paying a Realtor to get it sold sooner. Either way we wish you the best!
0 votes Thank Flag Link Sun Apr 3, 2011
You'll need to promote this a beautiful place to live by using this,

"VIDEO TOUR" of El Dorado Hills, Cameron Park, and Shingle Springs, California.

View and share: http://www.youtube.com/watch?v=nv9_39dTggU
0 votes Thank Flag Link Sun Apr 3, 2011
The boy scout motto "be prepared" is applicable for FSBO endeavors. For a short overview of most of the preparation you will want to consider are contained in a short article on my website titled For Sale by Owner Option. From my website, under "my pages", click on subject article. Enjoy and best wishes for success.
0 votes Thank Flag Link Fri Apr 1, 2011
In most cases the door for "for sale by owners" has closed.......When the market was hot and buyers viewed FSBO's as the best opportunity to save money, anyone could place a sign in their front yard and quickly find success.

The market has drastically changed in the last 5 years and the best deals and opportunities are being viewed by the vast majority of buyers as "short sales" and "foreclosures." So unless you can compete with this corner of the real estate market, your road may be long and difficult as a FSBO.

Research your local market to determine your current market price and work from there. But buyers will be attracted to value. If your home is percieved as a great value, you may stand a chance.....price it right!

Good luck,

Bill
0 votes Thank Flag Link Fri Apr 1, 2011
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