I'm a Realtor - Here's What I Wish People Knew About "FSBO" Homes

Apartment Therapy ^ | Aug 17, 2024 | Mary MacGregor

[where's_the_Outrage?]

No matter if the market is hot or cold, they still pop up: For Sale by Owner listings, otherwise known to Realtors as "FSBOs." These are houses put up for sale by the people who own them - without the help of a real estate agent.

Homeowners who eschew professional assistance can start the home-selling adventure on their own, but are often unaware of the DIY pitfalls. Here are the pros, cons, and everything else you need to know about these kinds of properties.

What to Know About FSBO Listings As a Realtor, I'm very aware of those DIY pitfalls. Take, for example, my neighbor, who has his home back on the market as a FSBO. Third time's a charm, right?

Jeff and Linda Brandt of The Brandt Group in La Quinta, California, have tried to help the guy with pricing and listing advice over the years to no avail. "Jeff told him a realistic price he didn't like," Linda explains. Now, the house is languishing on the market with a high price tag.

My neighbor has ignored the cardinal rule of home selling: realistic pricing.......

My neighbor did advertise on the big Z (Zillow, of course), but did not put a sign in the yard for drive-by prospects. His amateur room photos were dark and blurry, underscoring the marketing importance of compelling images. He then cemented his doom by warning agents off from bringing a buyer by - he insisted on representing both sides of the transaction. Unfortunately, most people won't be comfortable with that setup......

There are some sobering statistics to consider before planting the red-and-white "Home for Sale" sign in the front lawn yourself. Not only do agents avoid FSBOs

[alexander_busek]

The idea of a suicide in that house scared you off? I imagine you would have had some good bargaining power knowing that.

"They moved the headstones, but not the bodies - but gave us a deep discount!"

Regards,