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How do I go about finding a place FSBO?

Started by Addicted2RE
over 16 years ago
Posts: 1
Member since: May 2009
Discussion about
How do i go about finding a place FSBO?
Response by NWT
over 16 years ago
Posts: 6643
Member since: Sep 2008

The paper, craigslist, or follow your nose to the smell of desperation.

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Response by Downtownster
over 16 years ago
Posts: 140
Member since: Mar 2009

I'm curious about this as well - we've seen some listings on nytimes.com but it's very difficult to search specifically for FSBOs.

http://downtowny.blogspot.com

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Response by julia
over 16 years ago
Posts: 2841
Member since: Feb 2007

Pick an area that you want to live then go to the doormen and ask....they know everything what's going on in the bldg.

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Response by 30yrs_RE_20_in_REO
over 16 years ago
Posts: 9877
Member since: Mar 2009

You know what's great about FSBO's and buyers looking for FSBO's?

The Sellers think they are going to save the commission and make 6% more. The Buyers think they are going to save the commission and pay 6% less.

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Response by stlblufan
over 16 years ago
Posts: 64
Member since: Mar 2009

There's also a bazillion websites dedicated to the FSBO concept. I've searched a few before and found a few Manhattan apartments, but nothing special.

http://www.google.com/search?q=fsbo&ie=utf-8&oe=utf-8&aq=t&rls=org.mozilla:en-US:official&client=firefox-a

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Response by RobertLC321
over 16 years ago
Posts: 26
Member since: Mar 2008

Hello, Addicted2RE.

All the posters here have given you excellent methods to find FSBO listings and 30yrs_RE_20_in_REO makes a point.

Best approach, whether looking at FSBO or broker-represented properties is do the best you can with the comparables - - know what the apartment is worth. Or at least try to come close. There are plenty of resources out there to help you. Then you should be able to negotiate more effectively.

Consider the following in addition to what you're already doing:

Go to one of the big brokerage houses and find a broker you like and tell them to provide you with all the FSBO listings that match your preferences. Tell them to include all of them, i.e., the FSBO listings that offer a fee to the buyer's broker and the ones that don't offer a fee. They keep the ones that don't offer anything to a buyer's broker just in case the FSBO has a change of heart, etc.

Choose a broker/agent that you are comfortable with. If they are honest and are forward thinking, they will provide you with info on all FSBO listings that match your preferences.

Maybe they won't get a commission on the deal but if they do right by you, they stand a good chance of you providing a referral.

So, you may ask, "Why should I go to a broker for a FSBO listing?"

I'm glad you asked.

Because the brokers and/or administrative staff put a lot of time into maintaining their databases of FSBO and Temp Off Market FSBO listings. Also, some FSBO listings aren't advertised every week and you might miss something that's out there.

Hope this adds something.

Good luck.

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Response by westelle
over 16 years ago
Posts: 152
Member since: Apr 2008

Addicted2RE, what/where are you looking for?

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Response by OTNYC
over 16 years ago
Posts: 547
Member since: Feb 2009

nytimes.com

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Response by OTNYC
over 16 years ago
Posts: 547
Member since: Feb 2009

Also, if you're looking for a 2-bed under 1M in prime UWS, email me at otnyc1@gmail.com.

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Response by Fluter
over 16 years ago
Posts: 372
Member since: Apr 2009

My experience in trying to buy from FSBOs is that they ask above market and won't negotiate much, which is just dumb, but it's happened to me several times already.

Broker/agents want to talk to you, Addicted, in hopes of snagging a commission but I am not at all convinced they have better access to FSBO listings than you do. FSBO people know how to get the word out, that's the easy part. They are a stubborn bunch, though. I sold my Lawn Gyland house FSBO so I know how stubborn we are.

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Response by EAO
over 16 years ago
Posts: 146
Member since: Aug 2007

Most FSBO's will advertise on NYtimes.com and/or Craigslist. I sold my apartment FSBO and advertised there. We had a lot of traffic but ultimately sold to some one who was connected to our building.

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Response by EAO
over 16 years ago
Posts: 146
Member since: Aug 2007

By the way, I negotiated on the price. Not having to pay a broker's fee made the negotiation that much less painful and was happy to pass the savings on to the buyer. This made the difference between selling and not selling in a declining market. I ultimately sold it for 6% less than the asking price, no brokers on either side.

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Response by sniper
over 16 years ago
Posts: 1069
Member since: Dec 2008

www.nbpny.com

i sold my apartment with this service and i know some others on there now.
what size apartment are you looking for?

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