Forum
« Kitchen floor hell Kitchen Shelf Ideas? »
July 31, 2006
Should we use a broker to sell?
Having just completed the reno. of our Bed Stuy Bstone, my wife and I are now faced with the reality of selling the one bedroom co-op that gave us our initial leverage.
As a landlord and a buyer, I have resisted using a real estate agent/broker with great success. As we look to sell this sweet apartment in Fort Greene, I am tempted to give an exclusive to one for this sale. While 6% is alot to give up, I feel in the case of a prime hood, a good broker will have the access and wherewithal to facilitate and execute much better than we can. Am I wrong? To FSBO or not to FSBO? Can't wait to hear. Thanks in advance.
Comments
Best of both worlds! Do both. Set up a Fizzbow-like website (search curbed) and advertise on CL and NYT for 2 weeks - tell brokers who call you are not ready to do an exclusive but if they bring you a buyer, you will consider paying them 3% (which is what they'd get anyway if you list with someone else). If no bites after 2 weeks of your best, most intensive marketing efforts, then do an exclusive with a broker.
Posted by: Anonymous at July 31, 2006 10:59 PM
don't do what other fsbo sellers do and price it at what the broker tells you it is worth.
price it so the buyers can clearly see that you saved 6%, and don't want to keep it all to yourself, that you're ready to share.
If you advertise that brokers with buyers are welcome and will get 3% then also advertise that buyers without brokers can knock 3% right off the top of the list price!
Posted by: Anonymous at August 1, 2006 12:37 AM
Pay for an appraisal and then put your asking price just above it. Research what other properties in the area have sold for on property shark and any other web sites. Then put ads on craigslist and the NY times and hold open houses everu Sunday. If you don't sell it after several months, then get a real estate agent. You don't really need one.
(Former real estate agent)
Posted by: Anonymous at August 1, 2006 10:06 AM
If you're going FSBO, do you have time to show it, creativity to market it and knowledge of real estate to do the negotiations? If so...good for you! But the 3% to buyer's agents is a good idea. You want to get as much exposure as possible and unload it, not have it sit around for months.
Posted by: Anonymous at August 1, 2006 11:27 AM
"do you have time to show it, creativity to market it and knowledge of real estate to do the negotiations? "
I think nearly all the brokers I have had unlock doors for me score B+ in the first category, C- in the second, and D in the last.
An owner than knows their own place well, and the block they live on, can score A in the last category leaving the other two just time management and a nice website (examples of which now abound by searching fsbo here).
Posted by: Anonymous at August 1, 2006 11:53 AM
Post a comment
Please be patient while your comment is published. It may take a moment.