benefits (as a seller) of doing FSBO rather than through an agent

aside from the commission, what are the benefits/drawbacks?

edited to add...there is a potential buyer already lined up, so the "exposure" of getting the house listed on MLS/Listing Book is not really needed

(but the concern is that the lined-up buyer wants to pay less than it is planned to be listed for)

id really appreciate any feedback!! just trying to make sense of the $$ and potential added income if go through an agent (or, does the extra income really wash out given the expenses of listing with an agent)

any advice...please help!

Message edited 9/7/2012 3:23:19 PM.

benefits (as a seller) of doing FSBO rather than through an agent

Personally I woudl nto do FSBO. As a seller you will have to do all the showings, pay all the adds, and do all the negotiations yourself. An agent is a professional and will have the knowledge to do all of this. From the outside people think "Its nothing I could do that" but in reality an agent has a wealth of knowledge that the average person would not know.

ETA that you would still need to offer a commison to a buyers agent. If you don't then no buyers agent will bring people to see your house.

Message edited 9/7/2012 3:30:11 PM.

Re: benefits (as a seller) of doing FSBO rather than through an agent

We sold both our houses in NY FSBO. Granted we were in a pretty desirable area (Garden City) at the time. Both times we listed the house in Newsday and NYT and both times we sold directly to the buyer. The first house went for asking and the second house went for $25k below asking.

Re: benefits (as a seller) of doing FSBO rather than through an agent

benefits (as a seller) of doing FSBO rather than through an agent

If you already have a buyer lined up, it would seem that the listing agent's primary job is already done. You may have to pay that buyer's agent (if they have one). A listing agent would be able to show you what homes in your neighborhood are selling for. Since you don't have a listing agent, you will have to make sure you are getting a fair price. I would get your house appraised if you haven't already done so.

Re: benefits (as a seller) of doing FSBO rather than through an agent

First, I think you should get a realistic idea of the value of your home in the current market. So you could pay for an appraisal, but you can also have a couple of real estate agents come in and give you a market analysis, which is complimentary.

Then, at least you will know if the buyer's offer is a good one. But obviously, the more people you expose your home to, the more money you will get for it. And marketing is one area where an agent can help.

Also, there can be a safety and accessbility issue if you sell yourself and are trying to find a buyer. If you work, take a vacation, or just are out of your home a lot, who will show it? But also, safety and home security concerns of letting strangers come into your home who may or may not be legitimate buyers (who are ready, willing, and able to buy) and may not have the best intentions.

But if you have a buyer already, and you want to accept the offer (taking the marketing and showing issues off the table), the downside would be not having an agent to represent your interests throughout the sale process. My job, as a listing agent, is much more than marketing. It is being the "project manager" of the sale.

Even once an offer comes in, I negotiate the offer, I make sure all of the requisite forms and legal disclosures are completed, I get all of the paperwork to the attorneys, I am there for the home inspection (and negotiate any issues arising from it) and other necessary inspections, I coordinate with the buyer's lender, including attending the appraisal (and preparing my own info -- comps, etc. -- to provide to the appraisal), I am there for the final walk through, I troubleshoot and assist with unforeseen issues that could arise (for example, C/O issues, title issues), etc., etc. You get the idea. There is a lot that goes on behind the scenes with selling a home, and I think it is always helpful to have someone who is taking the time to handle these things (so you don't have to), esp. someone who does this every day (as opposed to a few times per lifetime). I represent my client's interests through every phase of the process. Sometimes, as a seller, you don't know what you don't know until you get into the thick of it. Every sale is different and things tend to crop up all the time, so many people find they are glad to have a professional real estate agent on their side to handle everything.

But good luck either way!