ISO Advice from people who chose to go FSBO route

Most interior designers do staging. You could put an ad in Craigslist for that, or call some local interior firms. If you are looking to keep expenses down, consider putting an ad in over at Pratt for an interior design student as a stager. They could use the photos in their portfolios. You could also expand that search to Manhattan art and design schools. You might be able to get a student photog, too.

Corny as it is, watch a few episodes of "Design to Sell" on HGTV. They do offer practical advice on what buyers look for, and what you can do to stage the house yourself, and where your money should go, should you decide to upgrade anything first.

Basically, you need to get rid of clutter, tchochkes, and dirt. People swear that you should make the place as neutral and non offensive as possible, but I disagree. No matter what you do, someone won't like it, so I say that if the place is spotlessly clean and uncluttered, yet shows people that it is a still a comfortable, warm place to live, with a personality, you will be doing y our house proud.

Sorry not to have names and numbers, but hope this helps. Good luck!

Posted by: guest at October 30, 2007 1:01 AM

Hi,

In addition to clutter, I'd recommend removing any personal photos and making sure to have fresh flowers on the day of the open house.

We sold on our own and found the staging, etc., the easiest part. Just make sure you have a bid sheet/submit offer form that has all the information you will need to evaluate the buyer (e.g., we have a coop so the questions we posed in evaluating a candidate were much more detailed, but I would still recommend asking about contingencies they have for purchasing and whether they have a pre-approval for a mortgage).

And make sure to have a good lawyer!

Good luck.

Posted by: guest at October 30, 2007 10:00 AM

In addition to having your house look great, have your real estate attorney lined up and let him/her know that you're going FSBO. The attorney should be prepared to initiate a contract ASAP when you get an offer, and advise you along the way on other issues.

In addition to a website, I would create a flyer with all the basics, including a floorplan, that people can take home after seeing your place.

Posted by: guest at October 30, 2007 10:09 AM

Original Poster here - Thank you everyone for such thoughtful and helpful advice! Sometimes you don't get that when you post. Each of you gave me some concrete actions that will help us, I REALLY appreciate it. I welcome any other advice too - I'll keep checking back here. And Ari & Erin, I will be in touch, thanks so much for the offer! - Amy

Posted by: guest at October 30, 2007 11:32 AM

As to staging: you don't need a stager. Just take out all clutter, paper, stuff on top of the kitchen counters, desks, dressers, etc. and extraneous furniture, to make it really look spacious - leave your best stuff only, and make sure no room seems cramped by the furniture in it. Yes, you'll need to put it in storage, but it will be well worth it. Take out your rugs if you have nice floors, too. And hire cleaning people to clean it really shiny.

As to the brokers prequalifing people - this is bunk. I sold with a big brokerage, a really experienced broker, and all she did give me copies of the prequal letters from mortgage banks and brokers. You can ask for those from those who make offers yourself.

Posted by: guest at October 30, 2007 2:32 PM

one thing agents are good at (besides taking your $) is knowing when is the best time to spring your place on the market, based on all sorts of factors that you might not be aware of as a FSBO.
for example, you want to know if there are other comparable places languishing on the market.
you also don't want to launch your place on a holiday weekend, for example.
indeed, you might want to put it out ASAP or hold it back till after the holidays, since the whole period is slow, from what I'm told.

Posted by: guest at October 30, 2007 3:41 PM

I've sold twice FSBO and had terrific results.

Pricing is main thing. I've asked brokers if they'd be willing to give me a price and been upfront about FSBOing and they are all willing to do so (assuming you may fail and then turn to them). And I always price right around where they say or a little under.

NYTimes online AND print ad. Many people assume print is dead, it's not. Don't be cheap on this -- it's still how most people hear of places in nyc.

Get a detailed bid sheet. Ours asked for assets, debts, a lot of info. We handled bids ourselves, including a 5-way bidding war and when we had a buyer (and only then), we turned it over to our attorney.

We also sold ours "as is", so when/if there is a bidding war, someone doesn't bid high, win and then try to renogiate after inspection. we've lived in great buildings that are nicely maintained with good financials so I've never tried to hide anything, just being fair.

Posted by: guest at October 30, 2007 3:46 PM

We sold our last two apts ourselves.

We didnt stage, just cleaned up REAL good.

Have a floor plan.

The key above all else, is a realistic asking price.

I cant impress this apon you enough.

If you take advice from all the posters above AND have a realistic price. It will sell very quickly.

Do you homework on the price.

Posted by: guest at October 30, 2007 3:53 PM

And next time you have dental problems or any tooth decay, please call me, as i recently wrote a DYI oral surgery book.

Posted by: guest at October 30, 2007 4:26 PM

yes, a broker is similar to a dentist. a dentist goes thru years of training, whereas I bought a book at barnes and noble, took a weekend class, took a test, and got my license.

Posted by: guest at October 30, 2007 5:23 PM

I've sold a few co-ops FSBO and here are some thoughts on my experience:

Pricing - What is your expectation vs. what is realistic? If you truly want to sell and not have your unit languish on the market, then I encourage you to price the unit appropriately. I never understood the idea of a high (possibly unrealistic) asking price vs. a reasonable, let's make a deal price. Better to close and not have to continue paying a mortgage & maintenance/common charges, etc. than to simply delay the inevitable which may be to lower the price. Additionally, if you price your condo incorrectly and your unit sits there for weeks or months, then it may create unwarranted doubt in someone's mind about your listing. Ask yourself what's more important: Getting another 5k or 10k in a couple months or locking in your profit NOW and investing the proceeds in future ventures. A lot can change in a couple of months...just ask Stanley O'Neal at Merrill Lynch.

Cleaning - Wipe all of the dust off the window sills, clean each window thoroughly(no streaks!), wipe down faucets and other fixtures to a shine and make sure all dustballs, etc. are nowhere to be found. I would even go so far as to paint the window sills, radiator covers, baseboards, etc. so as to eliminate any possible distractions. People notice the details and feel more comfortable dealing with someone who paid attention to the little things.

General Items - make sure all your lightbulbs work, replace electrical outlet covers if they don't look up to par, replace doorknobs if needed and be willing to invest a little $$$ to make the right impression and more importantly, SELL your place:-)

I hope this is somewhat helpful and I look forward to running into you at the bank while you are cashing that check!! Good luck!

Posted by: guest at October 30, 2007 5:38 PM

Original poster here again with more thanks! Along with the dental comment (which I am not disregarding, I'm sure there will be many many moments we wish we were getting a root canal instead) came many more great ideas - the little things like lightbulbs, clean windows, and fresh paint... the details! My husband is all excited about baking cookies during the open house because he heard it made it homey - too funny. Anyway, it was good to hear about the nytimes paper version. I had been wondering about that and will now do it. Does anyone have suggestions for website hosting/development? I was planning to do it myself (I have experience) using four-square but am open to other ideas. I did find jimdo.com and homestead.com on searches thru b'stoner. Any people out there who got positive feedback on their site & could tell me who they used, what they did etc?
Thanks again everyone!
amy

Posted by: guest at October 30, 2007 7:53 PM

I have both used a Broker and sold FSBO. Agree with all of the above but also be prepared for: people making appointments and not showing up, brokers calling you trying to get you to change your mind, people looking to lowball an offer thinking that you are saving on the commission and they should therefore reap the benefits, people who may not be serious about buying. Don't let just anyone into your home if you are home alone. I had interested parties come at the same time for an open house like walk- through. Those who were really interested were given an appointment after reviewing their financials. I had multiple offers and got over what I asked for. Lots of work on my part though. A good attorney is a must. When I went with the broker, I had to fork over 6% of the sales price in commission on a house that I sold for 5x's what I paid for it. I made sure that the Broker worked her ass off to earn every penny of her commission though.

Posted by: guest at October 30, 2007 9:05 PM

Hi,
We sold our Bed-Stuy brownstone FSBO (just went into contract) and here is my advice:
1) I made a website on Yahoo (www.696halsey.com) -- it was cheap, easy, and I think it turned out really nicely.
2) I had a friend who is a professional photographer take pictures. Wide-angle lenses make all the difference. I would pay someone for this if necessary.
3) I second the posters who said don't bother with a stager. If you're doing a FSBO, this is one of the things you can handle. Read some tips and set the place up yourself. Maybe have a friend with a good eye take a look as well. It's not rocket science.
4) I didn't do the NYT print -- I didn't think people used it much. I did NYT online, craigslist, cafes, word of mouth, and email groups. I also posted on Zillow.com (it's free) but I doubt that anyone found us that way.
5) One thing that gave us confidence was that we knew we could always work with brokers later if it took too long to sell it. Brokers will call you like crazy, even if you say "no brokers," and if you start to feel worried, you can always let them bring a client and after working out a deal up front that if they buy your place, you pay the broker 3% (I was going to try to negotiate 2%). It's still a lot less than the 6% you usually pay for a broker to list your place.
6) This is really important: go on Property Shark and pay for the comparables service. This will help you set your asking price. Try to attend open houses of places that are similar so you can get an idea of what's out there and what they're asking. A lot of people seem to think Zillow is not very accurate, so I wouldn't rely on them.
7) It helps to be a do-it-yourself kind of person. It was actually kind of fun, at times, to show our place. You also need to be aware of the pitfalls -- some FSBO owners talk way too much about everything they love about the place, their memories, and so on. On the plus side, a lot of buyers are turned off by real estate brokers and really like to talk to the owner.
Good luck!
~Kate

Posted by: guest at October 30, 2007 9:50 PM

I think a lot of people are onto the freshly baked cookies idea.

I heard cleaning with an orange scented cleaner is a new one to try.

Posted by: guest at October 30, 2007 11:44 PM

I don't know about anyone else, but as a buyer (of a brownstone, rowhouse and townhouse) and seller (of a rowhouse), I would rather a house NOT be staged. Clean, yes but not staged. Here's why:

Buyers that are looking for a house to have a certain charm and architectural details don't care how nice/hideous your curtains are or if you bed is too big for the space. They're looking past that to see chair rails, original leaded glass, the condition of the parquet floors, tin ceilings, etc. The bigger the furniture, the better - that way, I know my stuff will fit.

These shows that recommend that you tell the buyer what the space is for is dealing with stupid buyers IMO. I do watch the shows but personally I've never had a problem looking past the owners possessions and taste (or lack thereof) to see the bones of the house and the potential.

Cleaning: If your paint isn't too far gone and already a neutral color, I wouldn't repaint. Use a "Mr. Clean Magic Eraser" to clean your walls, and stubborn stains of the floors. Do declutter. If you have any yard space, just tidy it up and put covers over the stuff out there but I wouldn't do any landscaping - too subjective.

About pricing, check Property Shark to see what has sold recently before you check what brownstone condos are being listed for. You will get an idea of what sold close to asking and how long it took. You will also see pics, square footage, etc. Also if you have time, go to a couple of Open Houses to see your competition. That way you won't price yourself out of the market. There is a lot of inventory that isn't moving these days.

I hope this was helpful. I don't like to see people spend money for nothing. Serious buyers know the value of a property...

Sandy

Posted by: guest at October 31, 2007 2:27 AM

I just sold my place FSBO. Check out my website www.thirdstapt.com. You can email me directly off of it. I would be happy to answer any questions.

Posted by: guest at October 31, 2007 7:24 PM

Again, original poster here - thank you everyone! So so helpful. The condo is empty which is why I was thinking of a stager... the layout is a bit odd (floor thru) and I thought it might help people image sizes etc. Does anyone have any thoughts/ideas/experiences on empty vs. staged? I'll go to the two websites suggested and check them out. Thanks again and congrats to all of you who seem to have done this successfully - kudos! - Amy

Posted by: guest at October 31, 2007 10:27 PM

If I had an empty apartment that I thought needed staging, I'd consider picking up a few of the larger pieces of furniture (the ones you want to show that a couch fits here, a bed fits the bedroom), a table here....from Craigslist for freecycle, cheap. Then I'd sell it all again after I sold. Though likely cheaper, this is more work than hiring a stager who has stuff and moves it in for you.

But since no one lives there, I think it I'd go with a good floorplan with accurate measurements instead, as it will look odd without enough stuff to look like someone lives there, which you never get from staging. Even the floor models of the new condos that are staged with the boring, neutral modern furniture don't look good - I'd rather see them empty, myself, than with the ugly stuff they put in.

Posted by: guest at November 1, 2007 12:02 AM

I still prefer empty to staged. Maybe buy some paper tape measures and give them out at the open house. Even if you stage, people might be skeptical of the scale of the furniture. Besides, I've went to view some empty houses and my tape measure (and flashlight) are my best friends.

12:02's suggestion to go with an accurate floorplan is a good idea. You might also making a furniture floorplan. For instance, in a floor-thru, the middle room might be used as dressing/sitting room or bedroom so on your furniture floorplan, you might put something like "fits a piece of furniture up to 8' long/wide w/room to spare" (a 72" credenza/sideboard, a king size bed or a 96" sofa).

Sandy

Posted by: guest at November 1, 2007 12:58 AM

Well Sandy may like a place unstaged, but the market may not have her vision. the most expensive condos have model apartments for a reason: they help sell places. NY is very late to the staging game. NOTHING is sold on the west coast without high-end staging.

If you are contemplating buying new stuff for new place, buy it now and put it in old place while you sell.

Posted by: guest at November 1, 2007 12:32 PM

12:32,

staging is a ploy to sell a property for more than its worth by appealing to the buyers sense of "I can see myself here". The West has been using staging forever because house prices out there has outpaced income for years - the agents have to do something to "add value". Also, a lot of those homes sell with some of the furnishings left behind, so it's not really staging but viewing to buy the house AND the stuff in it.

As far as NY be behind in the staging game, houses have sold here and will continue to sell here without out staging. None of the houses I bought (and I've bought several) have been staged - they were clean but "lived in".

If the OP prices her condo right, it will sell.

Sandy

Posted by: guest at November 2, 2007 1:26 AM