FSBO

kerrigrooves

have any of you done a For Sale By Owner?  We have decided to take this route since our neighborhood is so desirable.  Im nervous with the LO and the amount of work involved but I WFH part time and we would save a lot of money.

 Are we crazy?  Or is it fairly simple to do? 

CCM82909

We tried to do a FSBO on our house since we were PCSing and had plenty of time to list our home.  In the end, we found out the realtors in our area all work together and will not show FSBO homes to their clients unless there is a substantial commission (we were offering 3% and even that was too low for realtors in showing a FSBO).  We ended up just renting it out for the time being, but may try to do it again once we move back to the area.

I agree though on how a FSBO can save a ton of money. That was the bonus for us on choosing that over going through a realtor. 

kerrigrooves

But dont the realtors showing the house get the buying commission anyway?  We were planning on paying the realtor on the buyer's side 2-3% and we have a lawyer to represent us.

CCM82909

Yes, they get the buying commission.  But then no one would get the "selling commission" since we were doing FSBO.  The realtors in our area were all interconnected, so showing a home that was FSBO to one of their clients meant that one of their friend-realtors was missing out on selling a house they had listed, and not getting selling commission.