Good or bad Idea?

Asked by Erika Hinton, Pembroke Pines, FL Tue Jun 5, 2012

Homeowners try to sell by themselves as S. Florida market rebounds.
"People are starting to hear more stories from their neighbors about how quickly they're selling," said Eddie Tyner, general manager of ForSaleByOwner. "There's more confidence now that the market is recovering."…

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Tchaka Owen, Agent, Fort Lauderdale, FL
Tue Jun 5, 2012
Erika, this is the same old story that keeps repeating itself. A quick search on Google will yield many responses. People have had varying experiences with the most common result being that an agent typical yields a greater net. That doesn't mean there isn't success by the FSBO, it's that they often would be better off with an agent.

In regards to your post, did you really expect any other comment by the GM of a company named ForSaleByOwner?

Tchaka Owen
Keller Williams Realty Professionals
1 vote
Bill Eckler, Agent, Venice, FL
Tue Jun 5, 2012
In my opinion, the competition for "for sale by owner" properties is and will be for some time yet.....distressed sales. Until this inventory is completely evaported, buyers will continue to hang their hats on this market segment because this is where they will consistantly find the value they are seeking.

It isn't a matter of "a lack of confidence" but wher smart and informed buyers will be placing their efforts. Of course, if a FSBO is priced competitively and marketed effectively, why wouldn't it be able to secceed?

For the most part "For sale by owners" still will not be able to compete in a market that is in transition.
1 vote
Annette Law…, Agent, Palm Harbor, FL
Tue Jun 5, 2012
It a great idea .....
....when it works.

A really bad idea when you've been on the market 4 months and you've met every "Rent to own" seeker in the county. Those investors who smell opportunity and swoop in with those...."can't lose' deals and end up offering 40% of whatever value they conjure up. A really, really bad idea if you sign any of that paperwork.

Now, I like to save money just like everyone else. But I do strive to recognize when guilt and pride are imposing illogical reactions to a situation that requires clear thinking, carefully created strategies and expert implementation.

In the end it's a great idea when all of that comes together or better still, when luck lives on your street. 'Yahooo, I sold my house myself and got a good deal......I think."

Do any of you remember how the owner of ForSaleByOwner sold his home 3 years ago?
1 vote
Nicole Marks…, Agent, Boca Raton, FL
Tue Jun 5, 2012
There will always be those types of success stories circulating, but you never hear about the failure stories like, sellers hosting open house every weekend, having a deal fall apart, taking out ads in local newspapers. The reason our job looks easy is because we are professionals and we take care of any pitfalls. We negotiate, market, make appointments for showings, attend showings and tell buyers the most appealing facts about the home. Realtors are worth your peace of mind regardless of what shape the market is in.

Nicole Marks Mason, Realtor
1 vote
Jim Olive, Agent, Key West, FL
Tue Jun 5, 2012
Let me answer this question NOT as a Realtor, but as a homeowner who bought and sold several homes of my own before becoming a Realtor. A Real Estate Agent is your friend! Yes, you'll pay them for their services, but they will protect you from many unpleasant tasks and unknown pitfalls of selling property. And often, because they know more about selling a house than you do, they will end up getting you more money for the house, so their commission essentially becomes "free". Use a pro, you will likely not be sorry!
1 vote
Alin Zdroba, Agent, Hollywood, FL
Wed Jul 25, 2012
Depends. On your ability, time to dedicate to the selling process, and your specific very local market (neighborhood level). Generally speaking and all things equal, the answer would be yes, you probably have a better chance to be succesful as a FSBO in today's market versus say 3 years ago. Inventory levels are decreasing and well priced and presented homes are selling relatively fast.

That being said, I advise anyone against a pure FSBO (that being a home for sale without being listed on the MLS and without broker cooperation, i.e. without offering a commission to potential buyer agents). The main reason is marketing exposure: you plainly can not achieve the same exposure as a pure FSBO as you would by listing on the MLS. Both from an eyeballs perspective (how many buyers will find your home online, the only place that matters) and from a buyer pool perspective (realize that most buyers are working with buyer agents, so your home will be "invisible" to them for all intensive purposes since buyer agents will just show MLS listed homes). A not far behind reason: the dedication and perseverance required to get a home from contract to closing.

With that being said, allow me a little self promotion. Take a look at what Propertio offers ( Our "owner managed" listings where you do most of the work like an FSBO, yet with some of the tools of a professional, and under the guidance of a professional, start at just 195. Further, if you find it just takes too much time (and headaches) to do it yourself, we offer a full service "agent managed" listing, where we actually manage and do the entire selling process ourselves for a flat fee of 2,950.

The cherry on top: you will not pay a buyer agent commission if the buyer is not represented by an agent.

Give me a call or send me an email and we can discuss further.

Good luck!

Alin Zdroba
Founder/Broker of Propertio
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