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Fsbo (by John [VA]) Jan 10, 2019 9:06 AM
       Fsbo (by Richard [MI]) Jan 10, 2019 9:21 AM
       Fsbo (by Deanna [TX]) Jan 10, 2019 9:30 AM
       Fsbo (by Landlord ofthe Flies [TX]) Jan 10, 2019 11:36 AM
       Fsbo (by 6x6 [TN]) Jan 10, 2019 4:24 PM
       Fsbo (by plenty [MO]) Jan 10, 2019 4:45 PM
       Fsbo (by AllyM [NJ]) Jan 10, 2019 6:21 PM
       Fsbo (by Ray-N-Pa [PA]) Jan 15, 2019 4:45 AM

Fsbo (by John [VA]) Posted on: Jan 10, 2019 9:06 AM

Hello, I'm selling my 3000sq ft, 5 bed, 3.5 bath home for 319k as fsbo right now. It's about 30k cheaper then the current homes for sale in my neighborhood and nearly in par with the others in updates and features. Would it be wise to send the listing to the top brokers in my area? I have in the listing that I will pay 3.33% commission to buyers agent. Or could I also list it as giving a $1000 cash bonus to buyers agent on top of 3% to make it sound a little more enticing? Also, giving the new owner a free year home warranty to be more enticing. Any other suggestions are greatly appreciated. Thanks! --66.249.xx.xxx

Fsbo (by Richard [MI]) Posted on: Jan 10, 2019 9:21 AM

If you are 30K under other homes in the area, just give it to a good agent and let them sell for full price.

As I've said before, you will pay the commission, either to the agent I or the buyer. --23.121.xx.xxx

Fsbo (by Deanna [TX]) Posted on: Jan 10, 2019 9:30 AM

"I'm selling my 3000sq ft, 5 bed, 3.5 bath home for 319k as fsbo right now."

You've got two houses: a 6/3.5 and a 5/2. Which one are we talking about?

If it's the 6/3.5, you bought it for $90, and you think it's worth about $130. If you're able to sell it for $319---- that's ten kinds of awesome.

If it's the 5/2, you bought it for $220, and you think it's worth $260. If you're still able to sell it for $319---- that's great, too.

Remember what had happened in the first place. You had bought it to be a rooming house, and then the municipality explained they had an ordinance in place that limited the number of unrelated individuals who could share a house.

You were talking about declaring bankruptcy, because you had 100% vacancy. (I didn't quite catch house the city didn't just make you boot the last people who took the limit over the allowable number, or if the entire group packed up and left?)

If it's the 5/2, the mortgage is $700/month and the utilities run you $300/month, if you're still keeping an actively heated/electrified house.

If it's the 6/3.5, the mortgage is $1400 and the utilities are $400, if you're still keeping a heated/electrified house.

Every month it doesn't sell is $1,000 out of your pocket, minimum. (Or $1,800 out of your pocket. And you've still got the expenditures from the other one continuing to weigh on you.)

Don't worry about squeezing out every dime. :) Right now, your motivation is to get $1,000/month (or $1,800/month) of your life back--- and get back the $12k (or the $20k) you've paid towards it so far.

You bought the thing for $90. (Or $220.)

You think it's reasonable to ask $310,000-- and it may well be.

But you're getting bogged down with the details of trying to get the awesomest deal possible, when you forget that you're supposed to be fleeing from it because it's a giant albatross around your business' neck.

Just. Get. Rid. Of. It. :)

Whether that's you selling it yourself, or giving it to an experienced agent to sell on your behalf, that's up to you. If I were in your shoes, I would go to whoever had the top sales and the best track record of results and ask to list with them. You don't want to take it to a firm and end up getting listed with someone who has zero sales to their name.

You want someone who gets results--- and you pay for those results.

Because you gotta get rid of it-- or both of them-- before it (they?) collapses your biz. Because having $2800/month coming out of your cash cushion-- and with ill parents on top of it and an uncertain job situation? --is not the best path towards success. You need to get your resources back, and reallocate them more sensibly.

But the first step is getting those resources back. If that means giving someone else $x in the process in exchange for results, that's part of the cost of doing business.

Don't be penny wise and pound foolish. :) --96.46.xxx.xx

Fsbo (by Landlord ofthe Flies [TX]) Posted on: Jan 10, 2019 11:36 AM

While higher buyer's agent commission is nice perk, it's much better to just lower the sales price by that amount. By lowering the price, you'll be adding more bang for the buck value to your home and lowering the price exposes your house to a wider audience because your home is more affordable. --108.69.xxx.xxx

Fsbo (by 6x6 [TN]) Posted on: Jan 10, 2019 4:24 PM

If you are offering the buyers agent 3.33%, why not just hire an agent and get them to sell it at 4% which is still a lot of money they will make. If you are priced 30k cheaper,I would bet the agent might be able to sell it at a higher price which would off set the cost of the agent. --73.120.xx.xxx

Fsbo (by plenty [MO]) Posted on: Jan 10, 2019 4:45 PM

Why? You are leaving alot of money on the table. --99.203.xx.xxx

Fsbo (by AllyM [NJ]) Posted on: Jan 10, 2019 6:21 PM

I not only did not do any of that, I didn't let them bring anyone at all. They bothered the h out of me. Just advertise it and change the ad every week with the wording emphasizing something different about the place. One week I described my home as "architecturally interesting" and got my buyer who had been studying to be an architect until his motorcycle accident and closed head injury. Now a chef. But he bought it. I spent a thousand dollars on my advertising which was way cheaper than commission on 160K. --73.248.xxx.xxx

Fsbo (by Ray-N-Pa [PA]) Posted on: Jan 15, 2019 4:45 AM

how many people in that area have a spare $300,000 sitting in there back pocket and are not working with an agent? Of those that do, how many have a need for a 6 bedroom place? 6 bedrooms equates to lots of mouths to feed.

I believe you are marketing your place in the wrong manner to the wrong niche. Please don't be penny wise and dollar foolish. A realtor's commission will be money well spent compared to the time and energy you will have tied up in selling this yourself?

Let me explain it a bit better by asking you, when do you expect your FSBO buyer to buy? If you listed the place thru a realtor, when would the place likely close? What is the difference in holding periods, and how much is the holding going to cost you?

I wish you the best in your search for a buyer quickly. --72.23.xxx.xx

Subject: RE: Fsbo
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