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February 15, 2008
fsbo
My wife and I are going to put our apartment on the market next month and would like to keep it fsbo in order to keep the price down.
In people's experience as buyers and sellers, where should we advertise? I'm trying to compile a comprehensive list of websites and other spots to get the word out.
Thanks in advance for all your suggestions.
-Michael
Comments
DEFINITELY splurge ($125 for 14 days) on the NY Times online real estate classifieds, and of course Craigslist. Just take some nice photos and post in those two places. You should be fine.
Posted by: guest at February 15, 2008 1:05 PM
Yes, NYTimes. You can skip craigslist, as I think your serious buyers will come from there, not Craigslist. A NYTimes ad should sell you nicely - if you are priced right, have really GOOD pictures (have someone with an eye do them if you haven't got it), get rid of clutter BEFORE taking pics, and a good written description of your place. Drawing up a floorplan to put up with the pics - even if draw up something amateurish something yourself and don't splurge for a computer done one - is also enormously helpful to potential buyers.
Posted by: guest at February 15, 2008 1:15 PM
If you are little computer savy set up a website too and post the link on craigslist & NYT. I have seen some really nice fsbo websites lately that are really simple and well done and put Corcoran listings to shame.
Posted by: guest at February 15, 2008 1:34 PM
1:34 - I don't suppose you have links to any of those for some ideas?
Posted by: hayduke at February 15, 2008 1:48 PM
hayduke, I just came across this one--
http://www.downingclintonhill.com/untitled1.html
Posted by: guest at February 15, 2008 2:27 PM
http://web.mac.com/markhumble/Site/21_Berkeley_Place,_2B.html
Here is another one that is really well done.
Posted by: guest at February 15, 2008 2:33 PM
Yeah, but be sure the link from the NYTimes site to yours actually works. I don't know why, but when you click on the link to most seller's websites in the NYTimes ad for most FSBOs, it doesn't work. Only worth doing if people can actually link to it.
Posted by: guest at February 15, 2008 2:35 PM
I actually think the necessity of having your own website is more when your place is not very desirable (for the price you are asking, of course.) If it is nice, and you get nice pics, and the price seems in line with what similar places sell for, you won't need your own site.
Actually, having more detail in a site can actually turn people off - they see something they DON'T like and don't come to the open house. There's a fine line between enough information and too much information in marketing - and you want to be right on it.
Posted by: guest at February 15, 2008 2:38 PM
The Berkeley Pl. example above, if I remember correctly, contains nothing that isn't in tne NYTimes ad (or couldn't be there). Which is somewhat disappointing (and a waste of time) if you click on it expecting more...Having a website just to have a website doesn't do much for you.
Posted by: guest at February 15, 2008 2:44 PM
This whole fsbo is turning out to be a more difficult decision than I was anticipating. Everybody- lawyer, family, etc is advising to use a broker. Don't know what we'll do...
Posted by: hayduke at February 15, 2008 2:56 PM
If this is your first sale and you are that uncertain - perhaps you may want to go the broker route.
You will , of course, discover that the brokers do little if anything for the tens of thousands of dollars they will charge you that you couldnt do yourself. But at least you will learn the ropes and get a feel for it so you feel more comfortable doing it yourself next time. Granted it will be a very expensive lesson.
IF you are not in a position that you need an immeduiate sale, why not test the waters and give it a go yourself for a while? If you get no bites, then bring in a broker.
Posted by: guest at February 15, 2008 3:17 PM
Greetings, if you need a photographer, contact me thru my profile.
In any event, you have nothing to lose, why not give it a crack?
Posted by: denton at February 15, 2008 4:04 PM
I could see the photos better on the Berkeley Place coop's own website than on the NY Times site. Especially the floorplan (link for that is on top - a little hard to miss though). So it didn't seem a waste of time to me to go to the website. At least they provide several photos and a floorplan and a map. Unlike some people who bafflingly hardly give any information. I thought it was a well done site.
Posted by: guest at February 15, 2008 5:29 PM
My husband and I were really tempted to sell our place ourselves - we live on a highly desirable block in a great building and we knew it would go fast. But we learned it was totally worth it to hire a broker, she was able to create a feeding frenzy for our place that we never would have been able to - we definitely would have ended up taking a lower offer had she not been there to help. Also people can be weirdos, and our bidders and their brokers were no exception. I won't go into details, but let's say we were really happy not to have to deal with them ourselves. Just some food for thought!
Posted by: bklyn_girl at February 15, 2008 9:33 PM
I would only suggest going FSBO if you have the time, knowledge and skill to do so. Time to set up showings and open houses, inspectors and appraisals. Knowledge of pricing and some real estate law (pre attorney). Staging, photography, web design and marketing skills. And most of all, you need the personality to pull this off. It's stressful enough having a realtor as the go between, but you'll have to deal with the sellers all by yourself. That being said, there area so many sh*tty agents in this city. You're probably better off going it on your own 75% of the time.
Posted by: rh at February 16, 2008 7:55 AM
Bklyn Girl notes the main reason I wouldn't do FSBO, and also why I like using a broker when I buy too (I've bought properties twice now). Because I like having a mediator, someone between me and the seller or buyer. Because things can become weird. However, is it possible to use your attorney in this regard if you are a FSBO? You could deal with buyers yourself when you show the place and set appointments and all, but nicely inform the most serious buyers that when it comes time for making the offer and negotiating you are handing that task off to your attorney because they are so much more knowledgable than you are. Then just step away from it.
Posted by: guest at February 16, 2008 1:46 PM
1:15 is a MORON, by all means do Craigslist, why do you think all the brokers list there? My money is where my mouth is, I found my house on CL and two pieces of commercial property purchased by a friend.
Posted by: guest at February 17, 2008 12:09 PM
Actually 1:15 is not a moron, 12:09. I know people who just successfully sold their FSBO after only 3 weeks on the market and they said almost ALL their buyers said they saw the ad on NY TIMES. They asked people at the open houses as research. Almost none of the buyers who came to the open houses saw the ad on Craigs List. If you are too cheap to pay for NY TIMES it's your loss. Craigs List offers no search terms like number of bedrooms and bathrooms, types of properties, etc. Busy people (i.e. people with money) have no time for that.
Posted by: guest at February 17, 2008 3:08 PM
Most brokers will do a combination of nytimes.com and craigslist. They both work.
If you have a personality that allows you to negotiate then you should try it on your own for a few months. If you know this is not suited for you then you should hire an agent.
I do agree that most agents are horrible but when you get that good one they can make the deal move quick and effortlessly.
I find that 20% of the job is producing a buyer and the other 80% is getting to the closing table.
A good agent will have a strong knowledge of marketing, mortgages, appraisals, title issues and some light construction knowledge. Most new agents no none of the above. They might not no what a "comp" is.
Do your comps with www.propertyshark.com to set your price. If you have problems with the program, you can contact me to help or I will do it for you and email the PDF to you.
good luck.
Posted by: evperry at February 20, 2008 12:46 AM
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