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Edward Cooper, Home Seller in Montecito, CA

what is the best thing I can do to advertise my condo for sale by owner?

Asked by Edward Cooper, Montecito, CA Fri Oct 5, 2012

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9
Do you have errors and omission insurance? Who do you hold accountable if you mess something up?

Most of the Realtors I chat with on a deep level confide they are not aggressive about working with FSBOs because they end up doing all of the work for half the money. Not saying that is right or wrong, just passing on what I have been told. Selling a home for what it is worth requires increasing the odds during the marketing process, cutting out a large segment of the buyer pool doesn’t do this.

Thousands of closed real estate deals over decades and I can count on one hand the number of purchases that did not have at least one Realtor involved. My closing attorney told me they account for about 1% of her volume, way more than my percentage. However, she also told me that out of that total number 98% of those were between relatives. I thought that was very interesting. I have never heard anyone before break down a profile on a FSBO.

Jim Simms
NMLS # 6395
JSimms@cmcloans.com
Financing Kentucky One Home at a Time
Web Reference: http://jamessimms.com/
0 votes Thank Flag Link Tue Oct 9, 2012
Signage will work, but the best way is to be willing to get more exposure through an agent.
0 votes Thank Flag Link Tue Oct 9, 2012
You're asking a bunch of Realtors how to sell by yourself - Really???

My advice - list it with a Realtor.
0 votes Thank Flag Link Fri Oct 5, 2012
Stick it in Craigslist.
Stick a sign in the window.
Stick a sign in the laundry room.
Sick a sign in the recreational center.
Stick signs on utility poles in your area.
Stick a few signs on public right-of-ways.
Stick an ad in the community paper.
Stick an ad in the regional paper.
Stick a condo flyer in on every door in the complex.
Stick an ad in the condo association newsletter.

Send an email to the 4,000 folks in your database with your special offer.
Send an email to those folks you know are looking for a condo to purchase with all the details and incentives you are offering.

Finally, when the offers come pouring in, be certain to screen out those offers depending on financing from lenders that can not finance in your condo community due to ownership/management structure, owner/investor ratio, late payment history and majority ownership issues.. Be prepared to elaborate on the condo financials and reserves. Be well versed on the rules and regulations and what you might inadvertently say in the presence of a potential buyer. Understand the significance of each element of the purchase contract and the exit options of the buyer.

Others have sold there condos and you can have the same experience.

Best of success to you,
Annette Lawrence, Broker/Associate
Remax Realtec Group, Palm Harbor, FL
727.420.4041
http://RealEstateMadeEZ.us
0 votes Thank Flag Link Fri Oct 5, 2012
But a sign in the window saying......
FOR SALE BY OWNER. WILLING TO TAKE 12% LESS THAN WHAT A PROFESSIONAL CAN GET ME!
Hiring a local top professional will earn you more than 10 - 12% you will mostly get on your own. The type of buyer wanting to purchase without an an agent is just like you and wants to save on commission. So if you want $350K they will want to offer you want you will save on commission. Not to mention the liabiliaty invovled.
Everyone that wants to sell on their own has not met a Realtor worth their weight in gold. The right Realtor will get you more money and save you in liability.
Interview until you find the one that will earn their income.

But who knows maybe you would do your own medical surgery as well.

Good Luck.
0 votes Thank Flag Link Fri Oct 5, 2012
Best thing to do is to hire a professional, i.e. an experienced area Realtor who will help you prepare your home right, i.e. stage it, great professional photos, may be some accent painting of some walls,
moving or removing furniture, and then advertising and marketing your home in as many places as
possible.....

If you insist on doing it on your own, advertise where you as a for sale by owner are allowed to advertise.... remember though that those interested buyers will expect to pay less for your for sale by owner home as they know you are saving the commission to the Realtors.... and also remember
that you may encounter a Realtor with a buyer who will want to be paid a commission in order to bring you his or her buyers....

Just think a through a little, and at least talk to an agent or two, if you need recommendations let us know
Sincerely yours,
Edith YourRealtor4Life & Chicago and Northern Illinois Expert

Working always in the very BEST interest of her clients, Buyers, Sellers and Investors alike....
And always with a SMILE
Covering for @Properties the city of Chicago, all N and NW suburbs, the fine homes on the
North Shore, and many of the W and SW suburbs, and with her trusted Partner Agents all of
the US and worldwide properties. Edith speaks French, German, some Spanish and other.....
@Properties, 30 Green Bay Rd, Winnetka, Illinois 60093 ---- EdithDoesItRight@yahoo.com or EdithSellsHomes@gmail.com Check out my website at htttp://www.tinyurl.com/MeetEdithHere
get to know me better and learn about my experience, expertise, services available and letters of recommendation of former clients..... Also you can sign up on my site to search for properties in my expanded service area. HAVE THE MOST WONDERFUL DAY :)
0 votes Thank Flag Link Fri Oct 5, 2012
Edward

I would be happy to touch base with you to see if I can be of help. In today's market, a for sale by owner is only going to get access to most likely less than 3-5% of the buyers that are out there.

By listing with an agent, you will get access to the entire MLS, all the marketing etc. In the end, you will also most likely end up saving $$ to work with a Realtor and for sure save a lot of your time.

Kevin Schmidtchen
Sotheby's Realty
689-6877
http://www.SantaBarbaraRealEstateVoice.com
0 votes Thank Flag Link Fri Oct 5, 2012
Not to do it. Too much liability.
0 votes Thank Flag Link Fri Oct 5, 2012
List it with a Realtor.
Where do you think your Buyer is going to come from?
0 votes Thank Flag Link Fri Oct 5, 2012
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