Hello everyone. My name is Tom, and I'm an experienced buyer/seller in the Central Florida area. I have flipped several SFH's in the area and have several buy/hold rentals. I've purchased through wholesalers and real estate agents. I am planning to sell (at retail price) one of my SFH rentals later this year, But I've never sold a property without using a realtor. The market here is very hot and I'm considering going the FSBO route to save the 6%. Pro's - obviously you save 6%. Con's - I have heard that it can limit the number of people who are exposed to your property, since RE agents are not going to show clients your property. I respect the BP community and thought that I'd reach out and ask for your advice, ideas and resources hat have worked for you. And any cautions/lessons learned. Thanks in advance.
Tom,
Hello from Central Florida .. I live in Bushnell, so not that far from you. Just a thought on selling it yourself, i would give it a try fir the first 30 days or so .. hold open houses each weekend and make sure you get listed on zillow-trulia-realitor.com-for sale by owner sites ..in other words make sure you have a internet presence. If you feel thst you dont have the time to do this plus field phone calls to schedule and show the property, and then show the property... then hire a real estate agent. If you have the time and energy, then do it yourself. You can alway included a buyers agent fee into your ad and let local brokers onow you would be willing to give them 3% if they brought you a buyer. Just a thought ! .. i wish you the best of luck and wouldnt mind picking your brain on finding profit potetial wholesale properties .. I can seem to find squat lately .. Mostly because I have a partner that I split profits with so, finding one with a decent enough profit potential has been proving to be difficult as of late .
Good Luck and God Speed ,
Michael Short
FSBO without MLS presence randomly works.
94% of all transactions happen Through the MLS.
The best of both worlds is using a Flat Fee MLS listing like ours (we are licensed in FL and participate in the MLS that covers Lake county 8and many more).
You just offer a commission to a buyer agent, get it onto the MLS and all Realtors will be happy to sell it knowing they will get paid.
Remember that commissions are calculated on the total sales price of the property but they come out ONLY of your equity. This disproportionally affects the return of your investment. Every dollar saved in commissions is a dramatic exponential bust for your profit.
You can do it ... check my profile for website
Thank you Michael, Marian, and Jorge! I knew I'd get some great ideas from BP members. You all came up with creative ideas that I hadn't thought of and I think I will try.
Think I'm going to try the sign for 30 days with house showing scheduled for weekends, and if it doesn't work out, then try a flat fee MLS listing with 2.5% buyers agent fee.
Michael, I'll give you a shout and we can compare notes on the local market. I too have not had any luck finding a decently priced flip for the last 18 months, but we can talk.
Jorge - how much do you charge for the MLS listing?
Thanks all!