Anyone do FSBO and put it in MLS?

amy-momofthree

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We are thinking of moving, same area, different house. We live in a very popular subdivision with lots of thru traffic. I would like to try FSBO but also put in in the MLS. I have found that you can list it yourself in the MLS for a flat fee of $299 (bypassing the listing agent) then the selling agent would get 2-3% commission. This would save thousands but I'm thinking it sounds too good to be true. Is there more to it? Anyone have experience with this?
 
Depending on where you live and how most transactions are handled you may be putting yourself at a disadvantage (note...I am a Real Estate Broker so my perspective may seem somewhat biased).

You will not get the listing exposure (advertising, etc) that you would get from a Realtor, nor would you get the service...we attend all showings of our listings to be assured that our listing is getting the full exposure it needs...the seller is typically not present as a buyer is often intimidated to ask questions, open cabinets, etc if the seller is present...they don't want to offend the current owner. The Realtor should point out various features of the property and also be able to speak to the buyers about how the property may or may not work for them given the type of financing they will be using....oh yes, we also make sure the buyer is pre-qualified and can afford and finance your property. You will also need to schedule your appointments, follow up with agents for feedback, etc...

Once a deal is reached, someone will need to draw the contracts...in our area this is typically done by the Realtor, not an attorney. You want to be sure your interests are protected...the selling agent will be looking out for the buyer and should also keep you informed as to your rights and responsibilities, but they are not being paid as a Dual agent, just as the buyer's agent.

I have had customers use the type of listing you describe, and they have ended up withdrawing their property from the "you sell" type of listing and putting the home in the hands of a realtor.

Good luck in whatever you decide!
 
I agree with the above and I am not a realtor.

That said, if you want to go it alone for a short amount of time. Buy a sign for the front yard, and do some advertising locally. If you have a subdivision that is in great demand you may get lucky. You should be able to do that for less than $100.

We once sold a home this way. There were other houses in the subdivision for sale. Persons traveling with their real estate agent were seeing our signs. Those that really liked the house took down our number and called us. We were priced attractively and took into account the saved commission.

The person who ultimately bought our house was with their realtor when they viewed our house. She also presented us with a contract. As a courtsey once the deal closed we did provide her with a small $250 transactional fee. She did not ask for this, but we were impressed by her professionalism in showing a house that ultimately would not make her any money.

Our plan was to do 60 days FSBO and then list with a realtor. Since the house sold we never used a realtor on that property.
 
We are thinking of moving, same area, different house. We live in a very popular subdivision with lots of thru traffic. I would like to try FSBO but also put in in the MLS. I have found that you can list it yourself in the MLS for a flat fee of $299 (bypassing the listing agent) then the selling agent would get 2-3% commission. This would save thousands but I'm thinking it sounds too good to be true. Is there more to it? Anyone have experience with this?

My cousin has done this with more than one house, and it has worked well for her. I don't remember all the details though. She was explaining it to me last year when we were considering putting our house up for sale.
 

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