Is Anyone Home? Anyone?? As I’ve noted from time to time, For Sale By Owners (“FSBO’s”) are prone to multiple mistakes, any one of which can easily negate (or worse) any money such Sellers hope to save on commission. See, “FSBO Mistake #1 (and #2, #3, etc.)”; “FSBO Mistake #4“; “FSBO Mistake #37.” Along with the...Read More
Non-Listed Listed Homes One of the side effects of a seller’s market is more homeowners who believe that they can sell their home without a Realtor (called “For Sale by Owner,” or “FSBO”). Here’s another: homes putatively listed by a Realtor, but nowhere to be found on MLS (Multiple Listing Service, the repository for all...Read More
Copying Goldilocks I’ve written previously about the various mistakes that I’ve seen amateurs make. See, “FSBO Mistake #1 (and #2, #3, etc.)”; “FSBO Mistake #4“; “FSBO Mistake #37.” Does that mean the pro’s — professional Realtors — are perfect? Hardly. It’s just that their mistakes tend to be more subtle (and presumably, fewer). See, “Jumping...Read More
Asking Price: $475,000 (“Yeah, Right!”) I’ve previously documented examples of FSBO (“For Sale by Owner”) mistakes. See, “FSBO Mistake #4“; “FSBO Mistake #37.” So, what’s FSBO mistake #1 (and #2 and #3)? Mispricing (want to guess which direction?). Latest Example Exhibit A would be this 1 1/2 story home a few blocks east of Lake...Read More
“UB?” How About “UO” (“Uhh, Ohh!”) What’s the counterpart to a FSBO (Realtors’ term for a “For Sale By Owner”)? I suppose that would be an unrepresented Buyer. But interestingly, there’s no analogous, universally recognized term (“UB,” anyone??) One possible reason: the way today’s housing market works, Sellers pay the Buyer’s agent. If the Buyer elects not to...Read More
Commission Saved: $8,000 Hit to Sales Price: $20,000 In FSBO Mistake #4, I chronicled the case of the hapless For Sale By Owner (“FSBO”) in Golden Valley who wasted their first — and best — month of market exposure incorrectly classified as a “Foreclosure” on MLS. Hit to their bottom line? I’d estimate 3% to 5%....Read More
