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Jul 31 2019

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How do I list a home for sale by owner?

Listing your home as a “For Sale By Owner” has a lot of sellers thinking they can save money on commission and put more money in your pocket.

Keep in mind-there is a reason why Realtors have to carry Errors and Ommission Insurance. Selling a home has a lot of liability and that is why we are licensed and take continuing education credits all year long. What you save in commission by listing it yourself could cost you more in the end.

That is so untrue what you say. If you make an error you never come through with out a court case. The fact is real estate agents are only out for themselves. Lets say they push you to drop your price by 10 thousand bucks well that is allot to you. To them it is nothing off what they make in profit very little comes through the bottom line in a loss for them. The faster and more they turn over at a low price is an advantage to them not you.
They do not much really once they list and put pictures in paper to make the large profit margin. It is not that much work in reality. They will always push once listed with them for a lower price giving all sorts of excuses for you to do so. They are not loyal to you believe me they have a coffee with the purchasers agent and they work out how they can get you to come down low in price to get it sold to the purchaser quickly and get the deal to make that large profit.

Come on now you know yourself this is true your all leaches.

OK, first of all. here is a correction from what was suggested below. you can NOT post your home on Trulia as a for sale by owner.
Trulia only has listings posted via Brokers (and MLS feeds).

In order to be listed on Trulia, you’d have to list your home with a flat fee Broker, and offer a commission to a buyer’s agent.

Or. you could write a blog about your home here, but that will soon be buried under new blogs that come along.

Zillow is different, however. You can pay to list your home as a “for sale by owner” on Zillow . The information is on that site.

Otherwsie, as was already mentioned. there is:

ForSaleByOwner.com
or. Craigslist

Selling your largest investment shouldn’t be taken lightly. More so than how to go about marketing a For Sale By Owner property, you should really nail down the why. If it’s to save commission, I pose this question to you – is it more important that you don’t pay a Realtor or that you put the most amount of money you can in your pocket at closing. If it’s the second, most of the time a savvy agent will work for you saving you time and headache, and net more to you than if you sold the home yourself. It’s something to consider. I’ve successfully helped sellers like you, and would be happy to speak with you further should you be considering the right agent for the job.

I bought and sold 33 homes without a real estate agent. Most real estate agents are just plain lazy or incompetent or both. I think only 20% actually half heartily work the business and the other 80% just hold a license. Its an industry that needs overhauling badly.

Even though I sell my own homes with a FSBO in the yard I still buy homes from agents only because the poor ignorant person selling the home thinks it a big deal. Nothing could be further from the truth.

Where they BIG problem lies are those lazy incompetent agents who wont answer their phones. Just a bunch of lazy bastards looking for money to come in from someone else efforts.

I get so mad because I have my checkbook in my hand wanting to buy a place and the lazy ass agent wont answer the phone. I feel sorry for the poor fools who put their trust in those lazy agents.

Most agents in my opinion are really lazy and incompetent because they have no common sense on actually how to sell a home. I seen this to many times.

@Don Tepper (to the person who replied to this post since I cannot reply to you directly)

Unreal, did you actually just correct the spelling/grammar of a potential client?? And quite rudely I might add. That comment was entirely uncalled for, and although this post is a year old already, I’m in the process of finding information about realtors, FSBO and what works best.

I can guarantee you that this post here not only took me away from you as a realtor, but will give some serious thought to whether or not Trulia is worth bothering with once again. You should be fired for that comment alone.

You can’t. Get all the new passwords you want. It’s simply not allowed and impossible to do. There are many other sites out there where you can post FSBO ads. (By the way, the word is “ad”–short for “advertisement”–not “add.”) The closest you can come is by using one of those services that’ll post your listing on your local MLS. It should then get picked up by Trulia. The prices vary, but usually are around $200.

Hope that helps.

Here are some stats for you to consider: 55% of homeowners that used a Realtor to sell their home were successful vs. 39% of FSBO’s, reflecting a 50% higher closing rate for those that used a Realtor. 24% of those FSBO’s eventually enlisted a Realtor.

FSBO’s net 27% less than if they were to list with a Realtor. Of the 2% of people that sell their home themselves, 30% go through litigation.

The selling home price for those that use a Realtor is 16% higher than those who don’t.

Talk to a couple Realtors or consult a lawyer. Contracts are binding and you should have some representation. Good luck.

Homeowners may be tempted because a seller’s market makes it appear “easier” to sell. In a good number of cases, sales move smoothly. I’m referring to all sales – not just FSBOs.

It’s just filling out paperwork and sticking a sign in the yard?

No – not even close.

Even the owner of one of the larger web sites had to swallow his pride and hire a Realtor.

Trulia does not include FSBO.

Google the subject. And good luck.

I am a professional audio/video specialist networking to assist realtors and home owners promote their properties.

I’m looking forward to the possible opportunity to help you with your promotional efforts!

Thanks for reading!

Crystal Erickson
702-626-9822
Owner of CJE Property Promotions & Design

To list your own house for sale without a professional has many risks. I’m sure you already read all the posts about it. Don’t risk it and list with a REALTOR­®. Chances are you will sell for more and are lowering the chances of a lawsuit against you. One wrong disclosure could be a disaster for you. Check out the stats at http://www.realtor.org/field-guides/field-guide-to-quick-rea

If yous till decide to go at it alone. Buy a FSBO sign, put it in your yard and then advertise as much as possible. Expect to pay 2.8% of the sales price if you want agents to bring buyers. Refusing to do this eliminates about 95% of potential buyers. Expect many calls from agents trying to get your business. And most importantly expect to finally give up and list with agent anyway as most FSBO’s end up doing.

I like to think of the math. How much is your mortgage payment? Is there and HOA? Start adding up everything it costs to own your home each month. When you have that number then think about the average home in the Denver Market that is listed by a professional is listed for only 30 days or less right now before going under contract. Every month you have your home listed as a FSBO is costing you money.

Sean Dennehy
Modern Real Estate
303-249-4616

Good advice from Bob Gordon. There are also plenty of useful books on Amazon.

Unlike some of the other agents here, I’m not going to try to talk you out of trying to sell it yourself. It certainly can be done. Give it a try. If it works, great.

Hope that helps.

actually, it really would be nice if posters stopped back and updated their situations – most don’t. I am sure we’d all like to know if this person was successful or not!
Most of the time we offer advice, but never know what the final outcomes are!

You put a sign in your front yard and let the buyers or buyers agents contact you directly to start negotiating. Keep in mind that this is very difficult to do yourself, which is why you should reach out to a professional.

Team PowerHouse Denver

You can list your FSBO with Zillow. See Debbie Rose’s answer below.

Regarding Craigslist, there have been security issues and as a consequence, we’re hearing complaints about false information being inserted in the classified ads there. You will want to monitor your information if you use Craigslist.

I’ll back up the others on the claims of marketing strength. We build expansive networks over the years. Brooke Hengst’s comment about inventory getting scarce is true.

I encourage you to call several agents to hear their take on market conditions and time on the market.

I gave Cory a thumbs up below although I have seen figures not nearly so high. One thing I always remind potential FSBO’s is that we Realtor’s have million dollar Errors and Omissions insurance and ask how much they have. It is not nearly as easy as it looks to sell a home these days as it looks, even with the experience, expertise, and technology we as Realtors have in our arsenal. Stapleton is one of my areas of expertise and I live just five minutes away in Park Hill. Let me know if I can help.

Robert McGuire ASR
Realtor/Consultant
Your Castle Real Estate
1776 S. Jackson St. #412
Denver CO 80210
Direct – 303-669-1246

Do you have errors and omission insurance? Who do you hold accountable if you mess something up?

Thousands of closed real estate deals over decades and I can count on one hand the number of purchases that did not have at least one Realtor involved. My closing attorney told me they account for about 1% of her volume, way more than my percentage. However, she also told me that out of that total number 98% of those were between relatives. I thought that was very interesting. I have never heard anyone before break down a profile on a FSBO.

Most of the Realtors I chat with on a deep level confide they are not aggressive about working with FSBOs because they end up doing all of the work for half the money. Not saying that is right or wrong, just passing on what I have been told.

Trulia does not ‘allow’ For Sale By Owner. Trulia feeds from the MLS – which only Realtors can input to.

There are a number of sites that will help you do a FSBO for a fee depending on services (you can do a google search on FSBO). Things to think about:
1) How will you advertise your property? There are a number of sites that you can post it for free but generally the most exposure is having it posted to the MLS. Some of the FSBO sites will post on the MLS for a fee. You will also want a professional sign with flyer box and possibly a website that people can find out more information about your house.
2) How will you allow people interested in your home to view it? Do you have a flexible schedule that you can meet every showing and answer phone calls about your house? If you have kids, you will also want to think about having them go somewhere during a showing.
3) Do you know what price you will list your house? Unfortunately, sometimes buyers will lowball a FSBO because they think that there is not an agent involved so they can pay less for the house. Not always the case but just something to think about. You also will want to see how your house stacks up against existing homes in Stapleton and new builds. A real estate agent can provide you with a Comparable Market Analysis that will give you a range of what your home is worth.
4) Is your home ready to show? You will want to do a thorough walkthrough of your house (or even better yet have a friend do it) and declutter and do basic repairs.
5) Are you offering a coop (meaning will you pay the Buyer’s agent a commission?). Not offering a commission to the amount of traffic you will get from qualified buyers using an agent.
6) Are you familiar with all the paperwork for selling a house in Colorado? Buyers will expect a Property Disclosure, Square Footage Disclosure, etc. You also will want to make sure you are familiar with a Colorado contract so you know what to look for in an offer. You will also want to become familiar with the deadlines once an offer has been submitted.
7) What title company are you using and do you know the HOA fees for transfering the property? Buyer’s will expect title insurance and there are a few title companies that do specifically FSBO.

Good luck and feel free to contact me with any questions about the process or if you would like a free CMA.

Nina Kuhl
Cherry Creek Properties LLC
303-913-5858

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