Co-op FSBO A Good Idea?

[Da Zhang]

Hi all, this is my first question on this forum, hoping I could get some insights into FSBO. I'm planning on selling my CO-OP apartment in Queens NY. I did some research and it seems the seller broker+buyer broker fee together will be 5%, and if no co-broking, the seller broker fee alone is 4%. This could be around $25K for me. I am thinking about doing a FSBO. I know there are a lot of websites where I can post my home, like Zillow, Craigslist, FB Marketplace, etc. I can do a nice video showing my place and post it. I even read in one of the previous discussions that there is a way to obtain numbers from all renters in my area code and send them a short voice recording at a reasonable fee, although I'm not sure how to do it. I can find a title company or attorney to help with the closing.

The caveat is I might not stay around and show my place to people for a few months if the apartment doesn't sell right away. I might be able to stay for two weeks, do some showing, then I have to be somewhere else.

Also I know I need to deal with the co-op board package, which can be a hassle.

Do people in this forum have experience dealing with a FSBO when the owner is not always available?

Or do people have other suggestions for FSBO? Or do you think it's a bad idea and will end up costing me more time/money/effort then just letting a broker handle it?

Thanks y'all in advance!

[Andres Baena]

As a broker and an attorney in based in the boroughs/longisland, I can tell you from experience it's almost never worth the risk doing it alone for the reasons demonstrated by @Jaysen Medhurst . The biggest risk being a financial one due to the market analysis and understanding what is an appropriate sale price for your unit and expected negotiations based on current market conditions and your own unit's condition. Next risk would be the marketing, which while sending a short message to renters may help, you are missing out on the majority of buyers on the MLS that can be shown the unit through their own brokers. I definitely recommend reaching out to a qualified professional that will save you time and money such as @Abel Curiel to ensure that your transaction receives the most value from professional experience.

@Jaysen Medhurst