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What's your thoughts on FSBO?

Discussion in 'The Buying & Selling Process' started by Nathan Simon, 27th Oct, 2015.

  1. Nathan Simon

    Nathan Simon Well-Known Member

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    Being a RE agent I have noticed a new trend of FSBO.

    Now, although the majority are overpriced, there are some that have just found a price out of nowhere.
    Has anyone ever used this as a good way of buying bargains and selling quickly?
     
  2. larrylarry

    larrylarry Well-Known Member

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    Pardon my ignorance. What's FSBO?
     
  3. Mumbai

    Mumbai Well-Known Member

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    For sale by owner?
     
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  4. D.T.

    D.T. Adelaide Property Manager Business Member

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    For Sale By Owner (ie, without agent).

    I think it can work - really depends on both the location and current market cycle of that place. Eg why would you pay an agent $15k to sell your place for $530k when you can achieve $515k yourself?

    On the flipside though, most people aren't very skilled at negotiating, marketing, contracts, etc so best to delegate this. Most people aren't very good at being objective either, think that their home is worth more than everyone else's so a separate outside person is useful.
     
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  5. larrylarry

    larrylarry Well-Known Member

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    Ooh... What are the websites for FSBO? Please list. I'd love to have a look.
     
  6. Scott No Mates

    Scott No Mates Well-Known Member

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    @Nathan Simon - worried about the competition? FSBO accounts for a very small % of vendors. They're either too tight to engage an agent, believe that they can do a better job than an agent or are the vendors from hell (the ones you wouldn't wish on your competitors).
     
  7. Nathan Simon

    Nathan Simon Well-Known Member

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    Nah not worried at all. Actually thinking its a good way to buy some cheap places (if you find the reasonable vendors)
     
  8. Nathan Simon

    Nathan Simon Well-Known Member

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  9. Nathan Simon

    Nathan Simon Well-Known Member

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    check out gumtree and forsalebyowner.com
     
  10. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    At least those "ou tof nowhere prices" are a lot better than

    "offers" from, or " for sale by negotiation" where one loses many potential buyers because their logic is "heck the agent if the agent has no idea I sure dont"

    ta

    rolf
     
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  11. larrylarry

    larrylarry Well-Known Member

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    checked out the forsalebyowners.com.au not much there.
     
  12. Nathan Simon

    Nathan Simon Well-Known Member

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    That is a good point hahahah
     
  13. Nathan Simon

    Nathan Simon Well-Known Member

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    Yeah they're still on the rise. only 500 odd properties I think they have. Not many FSBO sales out there, and those that tried generally come to there senses and hire an agent.
     
  14. D.T.

    D.T. Adelaide Property Manager Business Member

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    Quite a few FSBO's don't list on there - they list on gumtree, realestate.com.au , domain.com.au , allhomes.com.au or nowhere (just a sign board)
     
  15. hpresident

    hpresident Well-Known Member

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    I really like the idea of for sale by owner. Again most things are case dependant, but for most of us on propertychat. If you know your local market, comparable sales and have common sense then why pay someone 15k for posting it on re.com.au and do a few open homes.
    My biggest dislike towards majority of the agents are that often they are not working for the seller but rather after a quick sell.