Questions about selling a house by owner in TV

[OhioRaised]

Would like thoughts from those that have sold a house by owner here. I’ve put my home on Zillow, a few By Owner websites on Facebook, word of mouth and have a sign in the window. I’m offering a buyer’s agent commission, too. Most of my inquiries so far have been agents looking for listings and scam artists. How did you market your home? Did an ad on TOTV work for you? Home is in a great location, good floor plan, fair price and newer (3 yrs old) but my problem is getting eyes on it. Help!

[JohnN]

Daily Sun ad and an open house. The newspaper may not be "newsy" but it's the real estate marketing link to folks.
Also, tell your neighbors/friends to pass the world, they may know someone in the market.

[Babubhat]

Ad should state no listing agents. They will say anything to meet in person and annoy you. Put a professional video up!! Goldwingnut may offer the service. Will cull the time wasters. Use google voice and disposable email.You can permanently block numbers.

It’s a grind right now

[melpetezrinski]

Would like thoughts from those that have sold a house by owner here. I’ve put my home on Zillow, a few By Owner websites on Facebook, word of mouth and have a sign in the window. I’m offering a buyer’s agent commission, too. Most of my inquiries so far have been agents looking for listings and scam artists. How did you market your home? Did an ad on TOTV work for you? Home is in a great location, good floor plan, fair price and newer (3 yrs old) but my problem is getting eyes on it. Help!

Is that "fair price" determined by you or by an independent party? Post the address here and I'm sure you will get a good indication on whether it's a fair price. Marketing IS important but price is so much more important. You need to get on the MLS. Pay a company like Beycome $99 to get on the MLS and you will get more leads. However, if it's not priced right, you will just get more of the same, realtors that will try and "buy" the listing.

[OhioRaised]

Is that "fair price" determined by you or by an independent party? Post the address here and I'm sure you will get a good indication on whether it's a fair price. Marketing IS important but price is so much more important. You need to get on the MLS. Pay a company like Beycome $99 to get on the MLS and you will get more leads. However, if it's not priced right, you will just get more of the same, realtors that will try and "buy" the listing.

Good advise. My friend is an MLS Realtor here and would have priced it 15K higher. I just listed it this weekend so just looking for more ways to market it.

[retiredguy123]

Would like thoughts from those that have sold a house by owner here. I’ve put my home on Zillow, a few By Owner websites on Facebook, word of mouth and have a sign in the window. I’m offering a buyer’s agent commission, too. Most of my inquiries so far have been agents looking for listings and scam artists. How did you market your home? Did an ad on TOTV work for you? Home is in a great location, good floor plan, fair price and newer (3 yrs old) but my problem is getting eyes on it. Help!
There is no such thing as a buyer's agent commission. Buyers don't have agents, sellers do. Also, if someone makes an offer, do you have a sales contract for them to sign and a third party, like a title company, to accept and deposit the earnest money into an escrow account? Why not just list the house with an experienced professional real estate agent?

[Babubhat]

Realtors overprice it to get the listing. Then you are stuck for 3 months.You need at least three opinions with recent comps. I had one joker says my house worth 100k more. Rarely works in your favor,

The only reality in selling is price solves the problem. Better taking 5 percent off now than paying a commission. Buyer is going to expect it anyway.

[manaboutown]

Would like thoughts from those that have sold a house by owner here. I’ve put my home on Zillow, a few By Owner websites on Facebook, word of mouth and have a sign in the window. I’m offering a buyer’s agent commission, too. Most of my inquiries so far have been agents looking for listings and scam artists. How did you market your home? Did an ad on TOTV work for you? Home is in a great location, good floor plan, fair price and newer (3 yrs old) but my problem is getting eyes on it. Help!

I know people who several times have listed a house in MLS through an inexpensive listing service. They tell me finding and paying a good professional photographer/videographer is key. They, too, will pay the buyer's agent's commission. By statue, buyers agents are allowed in Florida.

"(a) Authorized brokerage relationships.—A real estate licensee in this state may enter into a brokerage relationship as either a transaction broker or as a single agent with potential buyers and sellers."

From: Statutes & Constitution
:View Statutes
:

Online Sunshine (http://www.leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0400-0499/0475/Sections/0475.278.html)

"The National Association of Exclusive Buyer Agents (NAEBA) is a professional organization of real estate buyer agents and buyer brokers who only represent home buyers.
Members of NAEBA do not accept listings, advertise properties for sale or represent sellers at any time. By providing exclusive fiduciary duties to home buyers, NAEBA members avoid the conflict of interests that arise when the same firm attempts to represent both buyers and sellers.

NAEBA was formed in the mid-1990s after industry lobbyists redefined how agency works. The creation of dual agency was a big win for traditional real estate brokerages, allowing the collection of real estate commissions from both the buying and selling side of the transaction, but it left home buyers at a serious disadvantage.

NAEBA was created to fill the void faced by home buyers and to provide a professional association that would further the standards and ethics of fiduciary duty to buyer-clients. Exclusive Buyer Agents are recommended by HUD, Kiplingers, Consumer Reports, the Consumer Federation of America, NerdWallet and many other entities and publications." From: About - NAEBA (https://naeba.org/about-naeba/)

[retiredguy123]

I know people who several times have listed a house in MLS through an inexpensive listing service. They tell me finding and paying a good professional photographer/videographer is key. They, too, will pay the buyer's agent's commission. By statue, buyers agents are allowed in Florida.

"(a) Authorized brokerage relationships.—A real estate licensee in this state may enter into a brokerage relationship as either a transaction broker or as a single agent with potential buyers and sellers."

From: Statutes & Constitution
:View Statutes
:

Online Sunshine (http://www.leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0400-0499/0475/Sections/0475.278.html)

"The National Association of Exclusive Buyer Agents (NAEBA) is a professional organization of real estate buyer agents and buyer brokers who only represent home buyers.
Members of NAEBA do not accept listings, advertise properties for sale or represent sellers at any time. By providing exclusive fiduciary duties to home buyers, NAEBA members avoid the conflict of interests that arise when the same firm attempts to represent both buyers and sellers.

NAEBA was formed in the mid-1990s after industry lobbyists redefined how agency works. The creation of dual agency was a big win for traditional real estate brokerages, allowing the collection of real estate commissions from both the buying and selling side of the transaction, but it left home buyers at a serious disadvantage.

NAEBA was created to fill the void faced by home buyers and to provide a professional association that would further the standards and ethics of fiduciary duty to buyer-clients. Exclusive Buyer Agents are recommended by HUD, Kiplingers, Consumer Reports, the Consumer Federation of America, NerdWallet and many other entities and publications." From: About - NAEBA (https://naeba.org/about-naeba/)
Buyers agents are allowed by law, but rarely does a buyer pay a commission on a real estate sale. In almost all transactions I have seen, the commission is paid by the seller.

[manaboutown]

Buyers agents are allowed by law, but rarely does a buyer pay a commission on a real estate sale. In almost all transactions I have seen, the commission is paid by the seller.

That is so for me as well. The buyer's agent is paid from funds received from the sale. I cannot recall a buyer paying an agent separately although it may happen on rare occasions.

[retiredguy123]

Realtors overprice it to get the listing. Then you are stuck for 3 months.You need at least three opinions with recent comps. I had one joker says my house worth 100k more. Rarely works in your favor,

The only reality in selling is price solves the problem. Better taking 5 percent off now than paying a commission. Buyer is going to expect it anyway.
If the agent overprices the house, and they bring you a lower offer, you can renegotiate the commission. I did that on the last house I sold. Also, I always insist on a clause in the listing agreement that, if I lose confidence in the agent or the broker, I can fire them. No three month or six month lock in.

[manaboutown]

Realtors overprice it to get the listing. Then you are stuck for 3 months.You need at least three opinions with recent comps. I had one joker says my house worth 100k more. Rarely works in your favor,

The only reality in selling is price solves the problem. Better taking 5 percent off now than paying a commission. Buyer is going to expect it anyway.

A house going stale due to overpricing many times results in it eventually selling for a lower price than it would have brought had it been initially priced correctly. Add the carrying cost for several months and it is a lose-lose proposition.

[OhioRaised]

Perhaps I am wording it wrong. We will pay the buyers agent 2.5%. So, we are willing to work with an MLS agent if an agent brings us a buyer.

The point of my post is to get successful marketing ideas.

[retiredguy123]

In The Villages, it seems like frequent open houses are the way to go.

[manaboutown]

Perhaps I am wording it wrong. We will pay the buyers agent 2.5%. So, we are willing to work with an MLS agent if an agent brings us a buyer.

The point of my post is to get successful marketing ideas.

Your original post is clear.

My suggestion is get some professional photos taken and use an inexpensive listing service to get it into MLS with the high quality photos taken by the pro. The folks I know last paid about $800 maybe three years ago. These days a video is also likely important. Get photos and videos from a drone showing how the house, yard and neighborhood look. Get photos and videos of a nice view, sunrise/sunset. "One picture is worth a thousand words" as we all know. IMO low quality photos lose deals. They are worse than no photos at all.

My daughter in CA put a purchase contract on a house she had not yet visited in person in MD due to the wonderful photos in its MLS listing which really caught her attention as she had been looking for some time. She jumped on it and had her buyer's agent tour the house taking videos and making comments.

[retiredguy123]

If you have photos, make sure they are real photos. I once visited a house in person, and then looked at the online photos. The flooring was different and there was wall mounted shelving in the photo that were not in the house.

[Stu from NYC]

If you have photos, make sure they are real photos. I once visited a house in person, and then looked at the online photos. The flooring was different and there was wall mounted shelving in the photo that were not in the house.

Guess they did that in order to draw folks in.

[BrianL99]

Would like thoughts from those that have sold a house by owner here. I’ve put my home on Zillow, a few By Owner websites on Facebook, word of mouth and have a sign in the window. I’m offering a buyer’s agent commission, too. Most of my inquiries so far have been agents looking for listings and scam artists. How did you market your home? Did an ad on TOTV work for you? Home is in a great location, good floor plan, fair price and newer (3 yrs old) but my problem is getting eyes on it. Help!

I'm sure you're familiar with the famous quote about attorneys & doctors.

It's the same for folks who try to sell their own home. Doubly true, it a difficult market.

Good luck, you'll need it.

[manaboutown]

My friends who tipped me about using high quality photos never use an agent buying or selling and they have bought and sold at least a dozen houses and condominiums in CA, HI and FL over the last 25 years. They sometimes have sold a property themselves to a buyer as a FSBO without a MLS listing. At other times they used an inexpensive listing agent costing from $300 to maybe $700. Two of their sales, one in CA, the other in HI, were sold unlisted in the $2M range.

They usually freshen up the landscaping to provide 'curb appeal' and 'stage' the property by decluttering it and using minimal furniture although they did not bother to do that for their $2M sales.

While in CA, where most of their buying and selling occurred, they were able to buy purchase/sale contract forms from the MLS. Not sure if that is possible here. They also got to know a title company clerk who assisted them now and then.

Their most recent purchase was in Palm Coast. The property was under contract with several backup offers as the market was still very hot. They asked the listing agent to call them if the purchase contract fell through and that they were not represented by another broker knowing that she would get the whole commission if she sold it to them. The sale fell through so guess who the listing agent called first?

[lovetohike]

Would like thoughts from those that have sold a house by owner here. I’ve put my home on Zillow, a few By Owner websites on Facebook, word of mouth and have a sign in the window. I’m offering a buyer’s agent commission, too. Most of my inquiries so far have been agents looking for listings and scam artists. How did you market your home? Did an ad on TOTV work for you? Home is in a great location, good floor plan, fair price and newer (3 yrs old) but my problem is getting eyes on it. Help!

I have previously sold 3 FSBO in TV. I am currently trying to sell and am having identical problems that you are having. Wish I had the solution for both of us. I have a Florida contract and a title company for closing. Priced below what a realtor would list for. Good luck

[villageuser]

There is no such thing as a buyer's agent commission. Buyers don't have agents, sellers do. Also, if someone makes an offer, do you have a sales contract for them to sign and a third party, like a title company, to accept and deposit the earnest money into an escrow account? Why not just list the house with an experienced professional real estate agent?

There is such a thing as a buyer’s agent commission. If one lists a home with a listing agent, then they’re paying the listing and buyer’s agent commission. If one is listing by owner, and a potential buyer has their own agent they want to use, the FSBO offering a buyer agent commission is a good strategy. The reason most people haven’t heard of only the buyer agent commission is because most homes are sold with a listing and buying agent. Doesn’t mean that it is not a valid option.

I would recommend to the original letter writer is to do an open house. People in the Villages love open houses. It’s okay if your neighbors want to come to check it out. They have friends in other areas who may be interested in moving to the Villages. If they like the house, they’ll tell other people about it. Maybe their Realtor friend will do it for them. If not, I’ll do an open house. No long term relationship required.

[bowlingal]

did you post it on Nextdoor?

[BlueStarAirlines]

Your original post is clear.

My suggestion is get some professional photos taken and use an inexpensive listing service to get it into MLS with the high quality photos taken by the pro. The folks I know last paid about $800 maybe three years ago. These days a video is also likely important. Get photos and videos from a drone showing how the house, yard and neighborhood look. Get photos and videos of a nice view, sunrise/sunset. "One picture is worth a thousand words" as we all know. IMO low quality photos lose deals. They are worse than no photos at all.


Just wanted to echo this....this is the best advice out there!

The other fantastic advice is to pay to get on the MLS. This will open so many more doors than the one you have cracked open. I never use Zillow and abhor their site, so I use Redfin exclusively. Your house will never make it over there or the hundreds of other listing sites without being on the MLS. This will be worth the ~$100 price.

[Robbb]

Ad should state no listing agents. They will say anything to meet in person and annoy you. Put a professional video up!! Goldwingnut may offer the service. Will cull the time wasters. Use google voice and disposable email.You can permanently block numbers.

It’s a grind right now

Has the used market slowed down that much. I know last year this time homes were in very high demand, has that changed?

[MatchPoint]

I did FSBO, and got inundated with calls from realtors despite putting in my write-up not to. Ended up listing with the Villages, sold in 3 days for more than what I was asking for.

I have sold 4 other properties FSBO. But in The Villages it doesn't seem to be a good way to go for some reason.

[Rzepecki]

There is no such thing as a buyer's agent commission. Buyers don't have agents, sellers do. Also, if someone makes an offer, do you have a sales contract for them to sign and a third party, like a title company, to accept and deposit the earnest money into an escrow account? Why not just list the house with an experienced professional real estate agent?

Michigan has buyer’s agents and seller’s agent. The realtor signs an agreement stating who they are representing. Other states, except Florida, probably do the same.

[MandoMan]

Would like thoughts from those that have sold a house by owner here. I’ve put my home on Zillow, a few By Owner websites on Facebook, word of mouth and have a sign in the window. I’m offering a buyer’s agent commission, too. Most of my inquiries so far have been agents looking for listings and scam artists. How did you market your home? Did an ad on TOTV work for you? Home is in a great location, good floor plan, fair price and newer (3 yrs old) but my problem is getting eyes on it. Help!

The market dropped a lot last October and hasn’t recovered, thanks to interest rates. I expected my house here to sell in days. A couple months earlier and it would have. Instead it took about four months, and I lowered the price $75,000. There were a lot of open houses. I didn’t like paying the agents around $30,000, but they worked hard for the money and did a lot of advertising. If I’d tried to do it myself, it might still be on the market. This is really not a good time to try to sell a house on your own. The other suggestions made here are good ones.

[hansb]

I think the price is important. Especially when a buyer can get a new home for a lower price than an old one. I'm currently looking for a home, but when I see that some seller
want to make a big profit (don't get me wrong, it is o.k. if they try) by selling a house after two years for more than $ 100'000 over the buying price this is for me not o.k.
and I don't play this game.

[retiredguy123]

I think the price is important. Especially when a buyer can get a new home for a lower price than an old one. I'm currently looking for a home, but when I see that some seller
want to make a big profit (don't get me wrong, it is o.k. if they try) by selling a house after two years for more than $ 100'000 over the buying price this is for me not o.k.
and I don't play this game.
I agree. That is why I won't even look at a FSBO. They are almost always overpriced. I also agree that the new houses are a better buy than pre-owned ones, unless the pre-owned house has a very unique, premium lot.

[ithos]

...............
Their most recent purchase was in Palm Coast. The property was under contract with several backup offers as the market was still very hot. They asked the listing agent to call them if the purchase contract fell through and that they were not represented by another broker knowing that she would get the whole commission if she sold it to them. The sale fell through so guess who the listing agent called first?

So true. A realtor will always promote the potential buyer that will result in the highest compensation for them. It worked for me. The open house that was scheduled the next day after I submitted an offer was cancelled.

[Dlbonivich]

At this time inventory is low. Houses are staying on the market longer. Agents are having to be creative to sell your property. Hire an experienced agent. The newbie’s do not know how to sell in this market, what makes you think you can do it. Agents are not renewing licenses at a huge rate. The reason is now you actually have to work at selling a listing. Good luck

[deborahcme]

Think like a potential buyer. Yes price is important, but buyers also search for listings based on location, then number of beds and baths. So you want to ensure that your listing is on a service that allows buyers to search on those specific terms as well as any extras like "corner lot" "pool" or "pool ready" "backs to woods" "backs to golf course" "backs to water view", "bonus room". Photos (as others have said) are key. If your photos look flat to you it's worth hiring a pro to take great pix (something that relators do) to really give prospects a good idea of what the home looks like. Including an aerial view (especially if there's water or golf nearby), is important. Look at listings that would catch your eye and try to make yours look like those. Also look at those comp prices and consider slotting your price somewhere in the middle. (I expect you've already thought of some of these things.) Finally, make it easy for prospective buyers to tour the home either via an appointment or open house schedule included in your site. As to how to keep agents away? No idea, sorry.

[Pat2015]

I received almost double for what I paid for my home that I built two years ago, and sold in March of this year. I don’t think that would be possible at this point, and will probably never happen again. The first person who walked in bought it within hours of the appt. I was very lucky and paid a big commission, but it was worth it.

[gighilton]

For 2.5 % get a villages agent . Cheryl McDaniel or Sonja pinson are great and worth the little extra. You will get eyes on the property.

[airstreamingypsy]

I'm sure you're familiar with the famous quote about attorneys & doctors.

It's the same for folks who try to sell their own home. Doubly true, it a difficult market.

Good luck, you'll need it.

I've sold my last three homes myself. I wasn't a fool for a client. It's not rocket science.

[OrangeBlossomBaby]

The market dropped a lot last October and hasn’t recovered, thanks to interest rates. I expected my house here to sell in days. A couple months earlier and it would have. Instead it took about four months, and I lowered the price $75,000. There were a lot of open houses. I didn’t like paying the agents around $30,000, but they worked hard for the money and did a lot of advertising. If I’d tried to do it myself, it might still be on the market. This is really not a good time to try to sell a house on your own. The other suggestions made here are good ones.

Interest rates don't mean "that much" if you're looking for a retirement home in The Villages. Most sales are cash sales, with no mortgage involved. The only interest a buyer would worry about is the interest they're earning by keeping their money in the bank, rather than investing it in their new house.

The buyer would also be concerned about who's going to buy the house they're moving OUT of, because of the interest rates - since most people who are looking for "non-retirement" property do take a mortgage.

But folks who've been renting, and are now looking to buy a retirement home, don't have that problem at all.

[Lisanp@aol.com]

I was licensed for over 15 year up north and became a Real Estate agent because I can't stand Real Estate agents and I never wanted to have to have one represent me ever again in a transaction! That being said, if you are already willing to pay 2.5% to a buy side agent, you really should just list it with an agent...
The additional 2.5% this will potentially cost you is more then worth it for professional photography, marketing of the home, not having to wait home for no show appointments, and dealing with the closing/title/appraisal/potential mortgage documents.
Do the math and figure out how much your time is worth. A top agent will probably get you a higher price then you can get on your own too because a savey buyer is deducting the commission of a FSBO from YOUR proceeds of sale already.

[OhioBuckeye]

The only complaint I had with a realtor (we used a outside TV realtor) we had was they put a price on it & was happy with it but when they couldn’t sell it they gave us a offer, it was $30,000. less than their original offer plus their realtor fees of coarse we said no & counter offered they took it. All I’m saying is make sure whatever the realtor appraisal price is make sure you tell them that’s a solid price I want to stick with it. Don’t let the realtor talk you into a rediculous price, they said what your house is worth so stick with it within a couple thousand dollars. Ask them to adjust their realtor fees & see what they say!

[jparsoneau@aol.com]

So many answers.
So I am looking to purchase a house in the next 10 days in the villages
I am on a 1031 tax exchange timeline if you’re familiar with that if not, I can explain it
But if you have a good house, that is a good price feel free to let me know what you’ve got.
Thank you Mike, 541-951-6904.

[rsmurano]

There sure can be a commission paid to the buyers agent. When I sold my last house on my own, I had a couple of agents telling me they had a buyer and if that was so, I agreed to pay a % to the buyers agent.
It is very easy to sell a house these days. I posted a simple ad in our community that said: “I’m thinking of selling my house” and I had 6 people call me within the 1st day. No pictures, no price. I had people within our community tell their friends and the frenzy started.
I would do the same here, I would also post an ad in TTOTV, Facebook marketplace, Facebook in NYC, LA, San Fran, Portland, Seattle, and in more places. I would also use the mls if I could find a way to place it, but that would be last resort. Do not list it on Craigslist, too many problems using that site

[PJ_Smiley]

Sold our designer home in The Villages 4 years ago "by owner" in 8 days for full price and all cash. We thought, what the heck do we have to lose. Let’s go for it. Here's a few things we did:
* Piggybacked off of The Villages open homes. Had our signs ready to go. Anyone stopping for a nearby “The Villages open home” would see our house.
* Placed open home signs that were large and easily readable at cross streets and intersections. Drive by and look at your signs. Can you read them while driving?
* House was decluttered and staged.
* Made signs for each room to highlight the main points and some things folks might not notice. This is great if talking to other visitors. Used plexiglass sign holders (much more professional looking).
* Highlighted special features of house with small signs.
* Curb appeal - neatly trimmed and mulch refreshed. Pressure washed driveway and curbing around house.
* Painted outside of house prior to showing.
* Black mold on roof? Ace Hardware has a spray that connects to hose to wash away the black streaks.
* Cleaned and touched up paint inside of house. Caulked any cracks. Cleaned shower.
* Changed all light bulbs to LED daylight so house was bright and well lit. Opened drapes and blinds and let all the light in.
* Took pictures with my iPhone. Open drapes and let in a lot of light when you take photos.
* Outside photos came out almost panoramic. Use your best photos. Did not need video.
* Posted on TOTV, Zillow, and other free FSBO websites.
* Made professional looking handout just like a realtor.
* Had a handout showing how we arrived at purchase price ready to discuss with serious buyer. Showed original purchase price and all improvements and payoff of bond. Total transparency is key when it comes to talking dollars. Don’t be afraid to talk dollars.
* Know the market and home values. Study recent comparable sales in the area. Make a schedule showing comparable sales for potential buyers. Don’t sell your home short (undervalue) or think too highly of your house (overvalue).
* Our sale handout was a duplicate of the TV flyer listing all the home and homesite features.
* Bond was paid so we made a big deal about it. Some will say bond does not matter, but $20,000 or $30,000 additional owed down the road is a big deal. That’s an extra monthly/annual payment.
* Contacted Peninsula Title (The Villages title company) regarding handling escrow funds and closing. I believe the fee was about $400 paid from closing funds. Peninsula Title is busy with The Villages sales, so you may want to check other local title companies.
* Downloaded FSBO contract (per Florida state statute) and made minor adjustments for our particular sale. I was able to compare several FSBO contracts (Florida) until I felt comfortable with the legal jargon and the handling of contingencies (if all cash deal, no contingency except possibly home inspection.
* A disclosure summary is required by Florida Statutes 720.401 to be provided to prospective buyer. This can be found online and downloaded.
* If selling furniture with house, attach a separate schedule of items included (reference schedule in contract).
* If you are uncomfortable with the contract or disclosures required, hire an attorney for the legal paperwork. Most attorneys will have a standard fee schedule.
* We did not use an attorney. We did not post listing on MLS. We did not give away any commission or use any agent. We wanted to sell to buyer, no realtor involved.
* Our first open house was basically for “nosey neighbors” and “looky-loos.” That’s good! That’s exactly what you want. Buyer was friend of neighbor who came to our first open house. Your "nosey neighbors" will help market your house and spread the word to friends that may be interested (friends who may still be up north). Our neighbors probably thought we overpriced the house, but the end result increased the value of their homes.
* Escrow deposit should be at least 5% of purchase price. Too little lets the potential buyer off cheaply if they decide to walk away.
* Try FSBO for 30 days. For a $500,000 sale, you would save $30,000 (6.0%) in realtor commission. You can always list with realtor if FSBO doesn’t work out. If you would kick the sale price up to $530,000 for realtor sale, make that a selling point.
* One last point. If there was ever the perfect place to sell a house by owner, The Villages is that place. People are looking for homes every day and they are visiting open homes every day. The Villages has open homes every day in all different villages, and they have pages of ads with directions to the open homes. MLS is doing the same thing. Allow TV and MLS to drive potential buyers to your door.

[pdp07]

There is no such thing as a buyer's agent commission. Buyers don't have agents, sellers do. Also, if someone makes an offer, do you have a sales contract for them to sign and a third party, like a title company, to accept and deposit the earnest money into an escrow account? Why not just list the house with an experienced professional real estate agent?


This is not true, buyers can have an agent.

[miadford@gmail.com]

I used Homelister (https://www.homelister.com/), and it worked out amazing. The biggest thing that is also the most important thing is to have amazing pictures and great write up.
They can list it on the mls who’s is very important because it will then filter into numerous other priority sites such as realtor.com, etc.

[miadford@gmail.com]

Right now the market is not as aggressive as it was even just a year ago. You do have to work a little harder. I agree with the need of all those very pertinent details as well as amazing photography. Aerial views are great if you on or near water or a golf course. Use homelister.com. Well worth it.

[Robbb]

I agree. That is why I won't even look at a FSBO. They are almost always overpriced. I also agree that the new houses are a better buy than pre-owned ones, unless the pre-owned house has a very unique, premium lot.

That was my exact experience last year when I was looking for a home. FSBO were so overpriced it was a waste of time to look at them.

[retiredguy123]

This is not true, buyers can have an agent.
Can anyone state that they actually paid an agent to represent them as a buyer of a house, and paid the agent a commission over and above the 5 or 6 percent broker's commission stated in the listing agreement at the closing? How much commission did you pay? In my experience, the broker commission is listed on the seller's side of the settlement statement and is paid by the seller. Is there any real estate company who offers to represent the buyer and agrees to collect no money from the listing broker commission at closing? As I understand Florida law, a licensed agent cannot represent both the buyer and the seller during the selling phase, but they can serve as a "transaction" agent during the closing phase.

[Mistymom]

Just wanted to echo this....this is the best advice out there!
The other fantastic advice is to pay to get on the MLS. This will open so many more doors than the one you have cracked open. I never use Zillow and abhor their site, so I use Redfin exclusively. Your house will never make it over there or the hundreds of other listing sites without being on the MLS. This will be worth the ~$100 price.

Just wondering why you don't use Zillow? It was my "go to" place when looking for a house in the area.

[manaboutown]

Can anyone state that they actually paid an agent to represent them as a buyer of a house, and paid the agent a commission over and above the 5 or 6 percent broker's commission stated in the listing agreement at the closing? How much commission did you pay? In my experience, the broker commission is listed on the seller's side of the settlement statement and is paid by the seller. Is there any real estate company who offers to represent the buyer and agrees to collect no money from the listing broker commission at closing? As I understand Florida law, a licensed agent cannot represent both the buyer and the seller during the selling phase, but they can serve as a "transaction" agent during the closing phase.

I have used a buyer's agent a few times. We both signed a contract stating he/she was my buyer's agent. Their commissions were paid out of the proceeds of the sale. A couple of times I have told a commercial real estate broker I would pay him a finders fee or commission if he found a property I ended up buying but nothing ever came of it.

I held a New Mexico Real Estate broker license from 1976 until 2020 and used it only a few times, mostly on my own deals. In the last two years I sold commercial properties in Maryland and New Mexico but did not ask for nor receive a commission as I was no longer licensed. I negotiated what I thought were reasonable commissions in the listing contracts.

[OhioBuckeye]

You put it in a nutshell, retiredguy123! TV realtors are the only ones that are allowed to sell newly built homes!

[BrianL99]

That was my exact experience last year when I was looking for a home. FSBO were so overpriced it was a waste of time to look at them.

FSBO is Amateur Hour.

Why would anyone making an investment the size of a home purchase, deal with an amateur?

Blind leading the blind.

I won't even mention the statistics that comparatively show how ridiculous it is, to sell a home FSBO..

But as usual, The Villages are different than the real world. It's inhabited by the smartest, savviest, most sophisticated people in the USA ... at least in their own minds.

[Randall55]

FSBO is Amateur Hour.

Why would anyone making an investment the size of a home purchase, deal with an amateur?

Blind leading the blind.

I won't even mention the statistics that comparatively show how ridiculous it is, to sell a home FSBO..

But as usual, The Villages are different than the real world. It's inhabited by the smartest, savviest, most sophisticated people in the USA ... at least in their own minds. Can we please stop with the name-calling? It is not ridiculous to sell a home FSBO. If you have a nice home that is truly move-in ready and priced correctly, a buyer will snap it up. If either party is worried about the closing, you can hire a real estate attorney to complete that task. He/She will make certain the transfer of the home is seamless and worry free. You can easily have the home inspected before purchasing. The price of each is comparable to the closing costs of a home bought through MLS. I have no issues buying a home FSBO. I do not need a realtor holding my hand telling me what I should and shouldn't buy. In the real world, savvy people find what is best for them. Maybe you should wander out and meet some of them.

[Pairadocs]

Realtors overprice it to get the listing. Then you are stuck for 3 months.You need at least three opinions with recent comps. I had one joker says my house worth 100k more. Rarely works in your favor,

The only reality in selling is price solves the problem. Better taking 5 percent off now tha44n paying a commission. Buyer is going to expect it anyway.

Years and experience have shown us you are 100% correct. Won't go into all the boring details but many places like this area: will say any price to get you to sign on the line, then they begin the routine, "we need to knock it down a "little" get more interest, let's take 2K off and if no response we'll try 5K. Then they begin to give you little "tips", let's (they always say "us" but they mean YOU) . You pay for the new paint they suggest, or the new carpet or tile, or the new landscaping (curb appeal is important) but remember "let's spruce it up a little means YOU pay for it.
I do agree that homes for sale SELL if they are "at the right price", you know the right price when it sells ! 3 designers in our neighborhood that WOULD have easily sold for $440K at the height of the pandemic, and sold quickly, have now been for sale for 4 months, all priced $390K to $410K. 4 months, all are listed with villages realty, none have even had an offer, even a "low ball" offer ? Different market it looks like !

[Pairadocs]

A house going stale due to overpricing many times results in it eventually selling for a lower price than it would have brought had it been initially priced correctly. Add the carrying cost for several months and it is a lose-lose proposition.

Absolutely TRUE. Time after time it proves to be true. Not saying it has never happened, but I have NEVER, not once, seen a home that "went stale" (a unit that constantly cut the inflated initial price) sell for what it would have sold for has it been listed at "fair market value" in the beginning. Prospective buyers are VERY shy of homes they have tracked for months and noted a long string of price cuts. On the other hand, some agents think that "price cut" is a very enticing measure. I disagree !

[Pairadocs]

Perhaps I am wording it wrong. We will pay the buyers agent 2.5%. So, we are willing to work with an MLS agent if an agent brings us a buyer.

The point of my post is to get successful marketing ideas.

I believe frequent open houses ( a pain I know ), once the snowbird season arrives could pay off. Little things can mean a lot to some looking. Little paint chips on wall edges, clean door hardware, neat clean UNDER sink and bath vanity areas, no old stains from drips that were fixed, but signs still there. Door into home from the garage... clean ? On both sides including the garage side ? Or black marks, stains, etc. Fix them. Sliding door slide easily ? Windows go up and down easily ? Fans NOT squeaking ? All outlets working properly ? Drawers and cabinets clean and as uncrowded as possible (for those living in the home) ? It really does give a better impression if "some" food items, clothing items, shoes, books, towels, sheets, furniture.... can be removed. IF possible for you store as much as possible at another location. If you have articles you absolutely know do not want at your new home, sell or donate them now, before you hold open houses. Keep kitchen and bath drawers "believable", but when a kitchen drawer is pulled out, have 4-6 towels in it, not over flowing. May all sound silly, but people do remember how "spacious" the closets were, even though the same dimensions of those packed wall to wall with clothes, and some additional baskets of articles on the floors too.

[Pairadocs]

Guess they did that in order to draw folks in.

Just recently I have noticed some on line pictures say: Virtually staged. You are right, I've gone to see a house in person and the fool color and even the type of material is different on line and in person.

[Pairadocs]

I'm sure you're familiar with the famous quote about attorneys & doctors.

It's the same for folks who try to sell their own home. Doubly true, it a difficult market.

Good luck, you'll need it.

IMHO, I think you might find the more difficult the market the BETTER chance you have if you sell it yourself. You'll not have to go through the agent pestering you to keep lowering the price ever couple weeks because they (the agent) does not have to worry about the proceeds, and what the owner is left with to live on or buy another home. Agent still gets their share and moves on, never gives what you have left. We have always hired a competent real estate attorney interested in OUR well being. Definitely more interested in protecting us, than the "generic" attorney any agent has at the closing. And, it costs far far less than paying an agent 3-6% of the sale. Others prefer to turn it all over to someone else.

[Pairadocs]

Think like a potential buyer. Yes price is important, but buyers also search for listings based on location, then number of beds and baths. So you want to ensure that your listing is on a service that allows buyers to search on those specific terms as well as any extras like "corner lot" "pool" or "pool ready" "backs to woods" "backs to golf course" "backs to water view", "bonus room". Photos (as others have said) are key. If your photos look flat to you it's worth hiring a pro to take great pix (something that relators do) to really give prospects a good idea of what the home looks like. Including an aerial view (especially if there's water or golf nearby), is important. Look at listings that would catch your eye and try to make yours look like those. Also look at those comp prices and consider slotting your price somewhere in the middle. (I expect you've already thought of some of these things.) Finally, make it easy for prospective buyers to tour the home either via an appointment or open house schedule included in your site. As to how to keep agents away? No idea, sorry.

Good tips all ! Remember things like lot on golf course, swimming pool, hot tub, etc. are HUGE negatives to some potential buyers, and attractive positives to others, so you want the site you are on to allow people to search on those and other fields.

[ithos]

I'm sure you're familiar with the famous quote about attorneys & doctors.

It's the same for folks who try to sell their own home. Doubly true, it a difficult market.

Good luck, you'll need it.

I sold my first home by myself in 2006 with no issues at the price a realtor would have listed it for. It helped that it was in a popular neighborhood. I would imagine with the internet it would be much easier now. I remember an agent came to my door and told me that I wouldn't be able to sell it that way.

But it doesn't work for everyone. My Dad's neighbor who also lives in TV tried to do a FSBO recently and gave up after 2 months. Signed on with an agent and didn't take long to sell after that.