FSBO vs. REALTOR®

You point out very important reasons to consider using a Realtor, rather than going it alone as a FSBO, Paula.

CONGRATULATIONS Paula, on having this blog FEATURED in the Old Farts Club group!  

Dr. Paula McDonald  my take is as the market continues to tank and as interest rates continue to climb sellers will be begging for seasoned representation. As you know I have a niche market selling vacant land usually it sets two years ahead of how the rest of the real estate market will be doing:)Endre

Couldn't have said it better myself, Paula. I've been singing the "security song" for a long time. Happy to see others have joined me in the chorus.

Good morning Paula. Over the years I have only met two people who were successful as FSBO's. One was a CPA and the other an attorney. Both were entrepreneurs who formed partnerships for investment purposes. I considered them the exceptions to the rule. Enjoy your day.

Excellent post.Thank you for sharing. Have a wonderful day and a blessed week

I'm trying to remember any successful FSBO's over the years.  Drawing a blank.  When markets are down it's even more important to hire a local expert. I appreciate Endre Barath, Jr. comment as it's spot on.  I recall a few years back I was able to capture several listings in an area that I hands down knew the numbers and projected backwards and forwards - what I saw happened. The listings sold quickly and the sellers were beyond delighted and surprised.  Agents couldn't believe I pulled it off.  Look at the numbers - know the trends well and hire an expert.

Never has FSBO been so difficult in NYC as it is now. Let's assume condo rather than a co-op (which is far more complicated than selling condos) - right now you have the complexities of Local Law 11 (Mandatory 5 year facade inspection- and probable repairs due to the winter freeze thaw cycle), Local 97 (compliance with building emissions and efficiency), consolidation of Fannie/Freddie lending rules which were enacted July 5th (due to the Miami Surfside building collapse) - and now causing lots of loan rejections because of Local Law 11, and/or reserve/reserve study requirements of the building. 

Even if you ignore all of the banking and regulatory requirement aspects- one thing most FSBO's don't realize prior to listing - there are a ton of agents out there calling from the FSBO lists trying to convert and having them list the apartment. Seller's get inundated with these calls to such a degree- that most give up after being bombarded. There are somewhere between 25,000-30,000 agents on the island of Manhattan- and I am sure hundreds of these agents are calling FSBO's as a weekly routine in their business. I don't typically chase after these listings unless it's something I feel I can both pitch something unique- and it offers something that I want to add value for my business/brand (i.e. a specific building that I want to work in). There are probably about 100 FSBO's or so any given week- and only a few even relate to my business, but most still don't interest me enough to pursue a potential pitch.

People who buy FSBOs want to get a good deal and at least get a home minus the commission a seller would pay a realtor

Congrats on the feature and very well done info-graphic.

I sold my first home by FSBO. Never again I thought.

Later- I became licensed. As I studied I looked at all the many reasons why I should not have ventured alone on that first one. I was lucky it worked but I could have made (and did make) so many mistakes that I would never want to repeat.

Licensed professional - that's who Realtors are (should be). The word professional brings more meaning to Realtor. Unfortunately, too many don't think of Realtors as such. Our training is not a 4-8 year degree. It's a $500 course. So positioning the conversation with a FSBO, or any potential customer, as a professional is key. 

Your infographic is spot-on. And your comment "the decision to either sell their home on their own or by hiring a professional..." resonates. Positioning us Realtors as professionals is paramount. 

Thanks for this essay - obviously it sparked an emotion in me :-)