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I once bought a one-bedroom condo. Just as I was moving in, I ran into another resident of the same building who was just moving out. He had just sold his two-bedroom condo down the hall....for about 25% less than what I had bought my one-bedroom for. He had skipped the realtor and done a FSBO.

Naturally, I regretted not knowing about or buying his place instead. I have no idea where he advertised it and hadn't been aware it was for sale. But the price I paid was actually comparable to what other places were going in that neighborhood and what they went for in the building over the coming years. And I sold my place years later for a nice profit.

This guy, on the other hand, got ripped off. He saved his 3% on the agent but lost maybe 50% of the price he could have gotten because he went it alone. I felt very bad for him.

“This guy, on the other hand, got ripped off. He saved his 3% on the agent but lost maybe 50% of the price he could have gotten because he went it alone. I felt very bad for him.”

Are you sure he got ripped off. Anyone can see prices in a condo complex, so I am sure he knew the going rates. Maybe he just wanted a quick sale and got it.

Yeah. I get it. My husband was a contractor who built custom homes for 3 decades before he passed away. Although he subcontracted for the most and rarely dealt directly with the realtors, we understood what was reasonable pricing and our homes were kept in tip top shape. When we bought he was the first home inspector, yet we always had an official guy come in which my husband met and went over it again with him for the report. We had fabulous results with FSBO. But I can’t deny people with zero experience buying/selling, or with no understanding of the construction process may run into trouble.

I’ll never forget one home we wanted to buy based on location and amount of land. We walked in with the realtor and first thing they said was the previous owner had built it himself. As we go to the living room there was a light switch with literally 10, yes 10 on off switches! Mike started flipping lights on and off and said, we are leaving. I said don’t you want to at least look and he said not really but let’s see the basement. The steps were narrow and steep. He wouldn’t even walk down and we left. He said anyone dumb enough to put half the first floor light switches in one location/fuse and build rickety steps no where near code shouldn’t have been allowed to build.