looking to list our house as for sale by ownder

Asked by Frederick S Saville, Salida, CO Fri Sep 14, 2012

Advice on how to start?

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Maria Cipoll…, Agent, Coral Springs, FL
Sat Sep 15, 2012
Are you willing to pay for the marketing of you home? How many houses did you sell lately? How do you know if you will get a qualify buyer into your home?

It really pays to get a Professional Real Estate Agent on your side. They have the knowledge, and experience to get a higher price for your residence. Comissions are negotiable. Interview a few realtors and see who meet your criteria better.

Best of Luck,

Maria Cipollone

1 vote
William Tong, Agent, Arcadia, CA
Fri Sep 14, 2012
National statistics show that FSBO homes sell for 10-15% less than they could have sold for if the home had been listed and marketed by a Realtor. Remember that the maximum commission paid to BOTH the SELLING AND BUYING Brokers is only 6% (3% each). On top of that, the agents pay for the marketing costs, handle the offers / negotiations, and provide you with standardized contracts and disclosures to protect both home buyers and sellers.

It it really worth it to lose 4-9% of what you could have made and face possible lawsuits in the future for contract / disclosure problems when you could have just hired a specialist?

Maybe you're really smart, savvy, and have a lot of time on your hands. Remember that 10-15% less is only the average so you could certainly make more money than you would have using an agent. Only you can decide what is right for you.

Good luck!

DRE# 01903501
Golden Land Investments & Financial, Inc.
1 vote
Ron Thomas, Agent, Fresno, CA
Fri Sep 14, 2012
A contridiction in terms;
You either LIST it, or you don't!

To start; call a Realtor.
1 vote
Scott Godzyk, Agent, Manchester, NH
Fri Sep 14, 2012
Sorry you can not list your home here on Trulia as a FSBO, many owners make a mistake by trying to save money and end up selling for a lower price. A good listing agents commission can be more than covered by a quicker sale and higher sale price.
1 vote
Tracy Shaffer, Agent, Denver, CO
Sat Nov 22, 2014
I do think that some people are quite adept at selling FSBO, and I'd rather they do that than ask me to reduce my commission by a ridiculous amount. So here's what you need to ask yourself first:
1. How much of my time and resources ($$) am I willing to put toward marketing my house?
2. How much liability am I willing to accept during the legal transaction?
3. What is the Salida market like and how much hard data do I have? (not, my neighbor put a sign in the yard and sold in three days)
4. Would you do your own root canal?

If you feel good about your answers, I'd suggest spending some time in Barnes & Noble looking through the real estate books. There are many written about FSBO (because you can make money denouncing real estate agents) and some of them are quite good. I've done this myself, to see what is logical and what is just huffing and puffing.

Find the book that fits your style and makes you feel comfortable with the process. And if you're not going to pay a Realtor, GET AN ATTORNEY to review the contracts.

I wonder what you do for a living... I think I'll do that too. --I know I'm being snarky, but it's kind of an exhausting question when you work very hard and help a lot of people through a difficult transaction. That said, there are those who are quite capable of selling their own homes.
0 votes
Tracy Shaffer, Agent, Denver, CO
Mon Oct 20, 2014
Although it's possible, why would you do that? Statistics show that your home will sell for more money in a quicker time when you use a Realtor.
0 votes
Robert McGui…, Agent, Denver, CO
Sat Sep 15, 2012

First I would ask myself why. It sometimes seems like a simple process to sell my home and save the listing broker commission. But it is complicated. 1. There are state requirements as far as disclosures and other mandatory legalities that are common to a broker that you would have to get up to speed on. By selleng your own home, you are subject to these same requirements. 2. Most Realtors have a $1M Errors and Omissions policy in place in case something goes wrong after all of their knowledge and diligence is put into play. 3. The main ingredient in home sales is exposure. You will get some local response from your sign. A little more from expensive ads, etc. A Realtor will give you international exposure through all of the major search engines on line as well as the MLS listing. 4. Finally, 85% of For Sale By Owners wind up hiring a Realtor after sometimes months of frustration. Often you will have to deal with cunning scam artists as well as other disreputable people you don't know coming to your home by appointment or just showing up. Most NAR reports show that homes sold by Realtors sell for 20% more than by a For Sale By Owner. Just some things to consider before taking on this monumental and daunting task. Best of luck to you in getting your home sold.

Robert McGuire ASR
Your Castle Real Estate
Direct - 303-669-1246
0 votes
Sally Grenier, Agent, Boulder, CO
Sat Sep 15, 2012
You could give yourself a root canal, but do you really want to? No! You'd hire a professional for that.
0 votes
Tim Klein, Agent, Littleton, CO
Fri Sep 14, 2012
Frederick - a couple comments on previous answers:
1. I doubt if a Denver based Realtor is going to drive to Salida for a free CMA. Even if she's willing, unless she knows the Salida market, how accurate would her numbers be?
2. Contrary to what the Los Angeles respondent said, there is no firm or maximum commission in Colorado, by law. Though 6% is a reasonable, and often used average rate, in this market, 5% is more typical.
0 votes
Rachelle M P…, Agent, Denver, CO
Fri Sep 14, 2012
The sale of your home is a huge transaction and it is nice to have a knowledgeable professional on your side. An agent on your side has the tools and knowledge to get the best price for your home an can make sure offers are legitimate. I would be happy to come do a FREE no obligation CMA for you so you can be confident about where you are pricing your home. Call me of you like....and Good luck!
Rachelle Paplow
Cherry Creek Properties
(720) 839-2659
(303) 713-9000
0 votes
Marianne Ban…, Agent, Englewood, CO
Fri Sep 14, 2012
Many people successfully sell by owner. Many people do not. You could review the necessary real estate documents on the DORA website to get a feel for what you will have to deal with.

Selling a home on your own is a bit like going fishing with no prior knowledge, equipment or training. You might catch a few, but more likely you will end up empty handed, frustrated and wasted money and time. You would be much more successful hiring a guide that has the proper equipment and knowledge to help you have a successful catch.

Call if you'd like to talk to a knowledgeable guide.
0 votes
Phil Lunnon, Agent, Lakewood, CO
Fri Sep 14, 2012
Asking that question indicates that you are not prepared to take on all of the responsibilities involved. Selling a home carries a great deal of liablility. If it is not done properly, the amount you think you might save in commissions will be small in comparison to an oversight that could cost you tens of thousands to defend yourself in a lawsuit. I suggest you start by interviewing 2 or 3 Realtors in your area and signing a listing agreement with the one you think will do the best job for you.
0 votes
Tim Klein, Agent, Littleton, CO
Fri Sep 14, 2012
Frederick - what's your questionn?
0 votes
Chris Eisenh…, Agent, Broomfield, CO
Fri Sep 14, 2012
contact an agent and sell it through them at a reduced commission. In the end you don't save anything by selling it yourself. I've run the numbers numerous times and have never seen a scenario where a seller ended up ahead by trying to sell it themselves. I've even tried myself (and I'm an agent) and didn't save anything!!!
0 votes
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