Investor · Atascadero, CA · Member since 2015 · 238 posts · 90 votes
We just finished our first flip and considering the margins are very slim, we are considering going the FSBO route. I have been reading on the forum here a ton of the FSBO threads. I am considering listing on the FSBO.com site and getting on the mls, paying the 3% buyers agent fee and then holding the open houses ourselves. Do any of you sell your flips via FSBO? And if so what has been your most successful strategies, sites to list on, etc? Thank you in advance for your advise.
Real Estate Agent · Los Angeles, CA · Member since 2015 · 201 posts · 82 votes
10y
This will come across bias considering I am an agent, but I'll throw it out there anyway.
The fact of the matter is a good agent is worth that extra 3%. The few FSBO's that actually do sell, sell for less then they would get with an agent. One of the reasons wholesalers target FSBO's is to get a deal.
The people looking at FSBOs are 1. Looking for a deal or 2. Lookyloos who can't afford 3. Expect you to come down 6% because there is no realtor.
The people working with agents are motivated, pre qualified buyers.
Bottom line you will net more money with an agent, even after their commission.
Real Estate Agent · Los Angeles, CA · Member since 2015 · 201 posts · 82 votes
10y
This will come across bias considering I am an agent, but I'll throw it out there anyway.
The fact of the matter is a good agent is worth that extra 3%. The few FSBO's that actually do sell, sell for less then they would get with an agent. One of the reasons wholesalers target FSBO's is to get a deal.
The people looking at FSBOs are 1. Looking for a deal or 2. Lookyloos who can't afford 3. Expect you to come down 6% because there is no realtor.
The people working with agents are motivated, pre qualified buyers.
Bottom line you will net more money with an agent, even after their commission.
Real Estate Agent · Las Vegas, NV · Member since 2015 · 2k+ posts · 1k+ votes
10y
What is the demand for your area ? How long are properties on the market for/ Are multiple bids common? It does not cost anything to throw an ad on craigslist and postlets,but as mentioned before a good agent can make you money
Investor · Atascadero, CA · Member since 2015 · 238 posts · 90 votes
10y
@Eric Dowling you are right. Would be much easier to go with an agent, and my sister in law has 2 in mind, but we want to give it a try to see if we can make a little money. We have a couple of people that have expressed interest so we will see where that goes. We thought if we haven't found a buyer in a week or two we will list. I can't complain, I am stranded in Hawaii - LOL.
@Account Closed unlike the rest of the US it is buying season in Hawaii. There are a lot of people here trying to escape the cold. Multiple offers are not really common unless it is well underpriced.
We will list on Craigslist, hadn't thought about postlets. Was wonder if anyone knew of other high traffic areas to post. Does anyone know if you can list on Realtor.com without it being on the mls?
Residential Real Estate Broker · Tylertown, MS · Member since 2015 · 61 posts · 27 votes
10y
You can not post on the MLS with out using an agent. Better try to find an agent who might take a flat fee for just listing it. However that is not very common now days.
@Kurt Brumfield we have been looking at FSBO.com which let's you pay a flat fee of around $300.00. Just wondering if you had to be on MLS to list on Realtor.com. I know there are some sites you don't have to.
@Kurt Brumfield we have been looking at FSBO.com which let's you pay a flat fee of around $300.00. Just wondering if you had to be on MLS to list on Realtor.com. I know there are some sites you don't have to.
Ronda,
To place an ad on Realtor you have to be a member of an local MLS Board & National Association of Realtor. Try listing on Postlet.com.
Real Estate Broker · Dayton, OH · Member since 2010 · 245 posts · 186 votes
10y
Zillow - most buyers are on ZIllow
Also, I beleive you might be able to list as a FSBO on Realtor.com now. I've heard it's been coming, but not sure when.
Definitely don't wait too long. Not sure what the price point is, and your holding costs (property taxes, insurance, interest if funds were borrowed, etc.), but remember that every day you hold the deed is $$ out of your pocket.
Investor · Atascadero, CA · Member since 2015 · 238 posts · 90 votes
10y
We just purchased a listing package on Owners.com. Family just listed there and had really good success. You pay a flat fee to be listed on the MLS. We are going to try it for a couple of weeks. We'll keep you posted.
@Christina Carey as of right now you have to be listed on the MLS to get on Realtor.com.
Real Estate Broker · Dayton, OH · Member since 2010 · 245 posts · 186 votes
10y
If you're in the MLS, that's 90% of the battle. As long as you're priced right, it should sell (still put it on Zillow though - it matters, trust me). Good luck!
Investor · Atascadero, CA · Member since 2015 · 238 posts · 90 votes
10y
Thank you Christina. I'll make sure we get it on Zillow. It is going to take up to 5 days to populate on Realtor.com. Going to take a few more pictures and try to get it up tonight so that timeline starts asap. I do love Hawaii but am missing my family and should head home sometime in the near future, although when all the work is done I may get to spend some time at the beach. It's 80 here today.