I have a soft spot for FSBO's. Before I was selling real estate, and I was simply appraising it, my wife and I sold our very first home all by ourselves in West Roxbury, MA. The buyer who ended up purchasing the home told us she had an agent representing her. But considering she found out about the open house from an ad in the Boston Globe, she came to the open house unaccompanied, and her "phantom" agent never so much as contacted us, we told her we were not willing to pay her "agent" a commission. She agreed. Bought the house and we saved $21,250 in commissions. See why I have a soft spot for FSBO's?
But once in awhile I come across a FSBO who just doesn't get it. Like this thread I commented on over at Trulia Voices earlier today. This seller in Cambridge was asking why there might not be much activity on his seemingly decent-sounding listing. A few of us chimed in with some ideas, and then along came "Kevin", a home seller in Needham. His advice for the Cambridge home seller was this:
Well, I did a little research, found out the specific home that "Kevin" so triumphantly listed and sold all by his lonesome and saved so much money on. I couldn't help but reply with my findings:
Like I said, I DO have a soft spot for FSBO's and I'm ALL ABOUT people saving money. What I don't have much tolerance for is stupidity and arrogance. This guy was proudly waving his FSBO flag, trying to show us all how smart he was, when in fact the market stats tell us that he would have most likely pocketed close to $7,000 more if he listed with a real estate professional. I know from personal experience that this isn't always the case, but isn't it ironic that the FSBO who most likely left a good chuck of change on the table is the first one to spout off? That's why I couldn't resist with my rebuttal.
So sellers, whether you're FSBOing or listing with an agent, remember this simple fact when selling your house.
It's all about the net.