Home Selling in 36527>Question Details

Cathy Taylor, Real Estate Pro in 36564

How do you answer a Seller who wants to FSBO?? I have my own responses, but want to know yours! Please

Asked by Cathy Taylor, 36564 Wed Oct 29, 2008

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4
Cathy... it all depends on the person. I am just honest with everyone. I tell them what I see as the potential issues they may face.

In this market, there's so much inventory, marketing will be a real challenge for the FSBO without an agent. But, if someone already knows who they want to sell to (a business associate, a friend, etc.) maybe it will work. If the sellers really knows their way around the process; and gets competent legal advice, it will probably be OK. Closings are hard, even if you do everything right these days. But, forget all of that... in my area, people hire mechanics to change their oil, cleaners to clean their home, take their clothes to the laundry, have a nanny for their kids, etc. etc. If they don't want to be hassled with that, what makes them even CONSIDER selling a house on their own? It's surely one of the largest transactions of their lives. Would they do surgery on themselves? In some cases ( like in this market), that's the risk level when people who don't know the deal are trying to sell their own homes.
0 votes Thank Flag Link Fri Nov 14, 2008
I try to go through the process of closing a home. Few sellers really know the entire process. Getting all the documents signed and copies to both parties. Work out a time for the home inspection. Deal with the results of the inspection. Order an appraisal, who pays for it? Deal with unexpected results: meet vaule or repairs? Order survey, who pays? Any other requested documents and tests: pool, septic, etc. Contact attorney and set up closing. And the list goes on and on. And this is AFTER you've done the hard part of finding a buyer and drawing up an agreed upon contract. This is tons of work alone, but it's the easy part!
0 votes Thank Flag Link Fri Nov 14, 2008
I usually ask how long they are planing to try on their own and I try to keep in touch and see if I can help them. I like to "preview" the property and get an idea about the inside this way if I have a potential buyer I can bring them in. there is the usual stuff:
How do you pre-qulify the buyers coming to the house.
How do you make sure that the price is right.
You must be available to show - takes a lot of your time.
Do you feel that you can negotiate your own deal.

None of those will make the person chage their mind but what if you can show them that you can get them sold quickly and for a great price... That might work for them. Ask nicely and don't make them feel they don't know what they are doing.

lots of luck.
Karen Abramson
0 votes Thank Flag Link Wed Oct 29, 2008
I saw an agent post that he gave constructive and helpful advice that might help them succeed. He also gave them the web address of my blog. After reading it, and realizing they were not really up to the task, they called him to list. He is a terrific agent who doesn't browbeat FSBO's with the usual NAR spiel. I hope Jeff Konstant doesn't mind me mentioning his name. :)
0 votes Thank Flag Link Wed Oct 29, 2008
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