Hi Readers, You have been most helpful in the last few days.....I finally untied the knot with my former broker who wanted to re-list again, (not an easy feat), and have been convinced by most of you that the idea of FSBO is not an impossible nor crazy task if you have the time and patience and can save alot of money by doing it yourself. In my case, it is not an urgent must sell tomorrow deal, so... [more]
Hi Readers,
You have been most helpful in the last few days.....I finally untied the knot with my former broker who wanted to re-list again, (not an easy feat), and have been convinced by most of you that the idea of FSBO is not an impossible nor crazy task if you have the time and patience and can save alot of money by doing it yourself.
In my case, it is not an urgent must sell tomorrow deal, so I figure the worst that can happen is that I need to go back to a broker, not the end of the world, but at least I can say I tried.
Anyway I have noticed the following three opportunities pop up on street easy chats either as direct posts from the vendors or people mentioning them and I am wondering if any one out there has first or 2nd hand experience dealing with them and your opinions: (they seem to cater to a FSBO).....and if you know of any others that would be of help. This is for a midtown Manhattan Jr. 1 Bedroom.
a.) www.flatfeelisting.com
b.) Thomas Demsker Realty- The "un-broker".
c.) The Burkhardt Group- also has a non customary way of working with clients and doesn't charge 6% commission.
Continued thanks for your help..........
[less]
Response by front_porch
about 15 years ago
Posts: 5319
Member since: Mar 2008
Keith Burkhardt is a good guy.
ali r.
DG Neary Realty
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Response by gcondo
about 15 years ago
Posts: 1111
Member since: Feb 2009
I sold an apartment by listing only on streeteasy. The price was realistic, it sold.
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Response by damier212
about 15 years ago
Posts: 124
Member since: Aug 2009
Wow- Ali, and g condo- you got me off to a good start! thanks!
Burkhardt (who I didn't use) was also a very stand-up guy who is straight-forward in his proposals and advice.
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Response by saudoso
about 15 years ago
Posts: 11
Member since: Oct 2006
I also recommend Demsker. He was especially helpful in pricing strategy, evaluating offers and negotiating-- the areas I needed most. But this is all via e-mail, so you have to be confident in your own abilities to stage and show the apartment. I'm a minimalist/clean freak/designer and my apartment showed very well and got 3 solid offers. But I´ve since seen other FSBO´s where the owners made dumb amateur mistakes in their open houses and Im sure that probably hurt them. So that would be my two cents... good luck!
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Response by huntersburg
about 15 years ago
Posts: 11329
Member since: Nov 2010
Would be interesting to hear from actual closed buyers of FSBOs.
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Response by columbiacounty
about 15 years ago
Posts: 12708
Member since: Jan 2009
some of them do well.
others do better.
except for those who do worse.
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Response by front_porch
about 15 years ago
Posts: 5319
Member since: Mar 2008
Hubby and I bought our current apartment from a FSBO. We were looking at another listing in the building, toured the building's common areas, and saw a posted flyer from the FSBO.
Since I'm an agent, I then did all the "work" of putting out the deal sheet, pulling the package together, keeping the seller informed about the status of our mortgage approval etc.
ali r.
DG Neary Realty
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Response by KeithB
about 15 years ago
Posts: 976
Member since: Aug 2009
Thanks for the nice word Ali.
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Response by damier212
about 15 years ago
Posts: 124
Member since: Aug 2009
Thanks Ali for recommending KeithB and thanks Keith for your helpful information on the phone....
Much appreciated!
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Response by kurtNYC
about 15 years ago
Posts: 13
Member since: Jul 2010
damier212 - thanks for all your FSBO posts and questions, we are about to list our chelsea co-op via FSBO and so I'm reading on the boards. We are using Thomas Demsker's http://nbpny.com and he has been very helpful so far. When deciding we asked for referrals, he gave us everyone it seemed, and they were all very positive including those that had closed. Sniper above was also a client. We decided to pay buyers broker, and will be on the MLS.
Once we are up on street easy in a week or so I expect I will start a thread with new questions.
good luck! - kurt
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Response by crg5377
about 15 years ago
Posts: 20
Member since: Aug 2010
My best advice, aside from specific strategy, is to take the emotion out the sale (if possible). Selling your home is a very intimate transaction, as it is something that is usually extremely personal; investment-type properties aside. Don't take it personally when an OH guest mocks your bathroom, lack of light, paint color, etc. Good luck!!!
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Response by damier212
about 15 years ago
Posts: 124
Member since: Aug 2009
and good luck to you KurtNYC, keep us posted, I am very interested......and also thank you crg5377, you are 100% correct and I don't know how to react to comments from OH guests until I hear them except to turn a potential negative remark into a positive or just plain don't react to what they are saying unless it is a direct question.
huntersburg- happy New Year, and thanks for spreading joy, happiness, and caring to all that post on Street Easy, I accidentally unblocked you and got to read your latest moronic posting that anyone with half a brain will know better. All best to you, you are so intelligent, and a great asset to Street Easy.
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Response by stakan
about 15 years ago
Posts: 319
Member since: Apr 2008
damier212, I sold FSBO, and at the bottom of the market at that. What's more, I had "no brokers" in my ad. A few brokers tried to barge in (even pretending to be the buyers), and I even saw my apartment listed by some brokers' as if it were their listing. Very annoying. By the end, I sold for more than asking, although not by much. The biggest problem I had was to spot the buyers who'd never pass my board, but that problem goes away quickly. One thing: my lawyer was excellent and instrumental in the whole operation.
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Response by crg5377
about 15 years ago
Posts: 20
Member since: Aug 2010
Its definitely a skill that takes some time to develop. Maybe make a list of something you love about each room of the apartment and pretend that an OH guest tells you how much they hate it. Then role play about what you would say without too much of a hard sell (I know a little silly), but a good thing to practice.
The best way to qualify buyers is to try to get the ear of your board and see what they are looking for in prospective owners. Asking a potential buyer for their financials also takes some finesse, but like stakan says, you can learn it pretty quickly.
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Response by kurtNYC
about 15 years ago
Posts: 13
Member since: Jul 2010
hey damier, our FSBO is starting and should be on the MLS and NYT + others by Thur or Friday. Though I expect NYT, MLS, and Street Easy to do most of the lifing, we also did a stand alone site. here it is.. http://405w23rd.com/ I think I'll post it tomorrow to get feedback.
The one thing I would have liked to know more fully was that the perception of an fsbo is so problematic. It seems so many buyers, brokers & sellers have a bad story. We are paying a buyer's broker comish. when appropriate, maybe that will help.
- kurt
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Response by crg5377
about 15 years ago
Posts: 20
Member since: Aug 2010
Site looks good. You may want to add the percentage of maintenance that is tax deductible (unless I missed it). Good luck.
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Response by KeithB
about 15 years ago
Posts: 976
Member since: Aug 2009
Looks good. Just to be clear, there is no MLS in Manhattan, there are sites like Olr and the main feed RLS that act as our "MLS ".
One issue I had was handling the broker traffic. They seemed confused when told to contact the seller directly when calling the "listing " broker who has placed the listing into the broker data base. Not sure how Tom handles that and what kind of feedback he/sellers have received.
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Response by kurtNYC
about 15 years ago
Posts: 13
Member since: Jul 2010
KeithB - thanks for taking a look, I guess I use MLS as shorthand for "what works and acts like an MLS". How and why that doesn't exist here still amazes a newbie like me, along with why we don't have a real train to the airport.. As for broker traffic, yes we'll see. Technically I'll actually be listed as an exclusive, not fsbo, though the process on my end will be similar. He's got experience with it obviously, and I think the exclusive contract clears some of that up. Not ending approaches, but at least an answer to them.
crg5377 - good note, will do.
Keith Burkhardt is a good guy.
ali r.
DG Neary Realty
I sold an apartment by listing only on streeteasy. The price was realistic, it sold.
Wow- Ali, and g condo- you got me off to a good start! thanks!
Demsker is great and worth every penny (and it ain't a lot of pennies either!). I used him myself and have recommended him numerous times.
http://streeteasy.com/nyc/talk/discussion/11953-open-book-sale-at-425-east-79th-street-11k
Burkhardt (who I didn't use) was also a very stand-up guy who is straight-forward in his proposals and advice.
I also recommend Demsker. He was especially helpful in pricing strategy, evaluating offers and negotiating-- the areas I needed most. But this is all via e-mail, so you have to be confident in your own abilities to stage and show the apartment. I'm a minimalist/clean freak/designer and my apartment showed very well and got 3 solid offers. But I´ve since seen other FSBO´s where the owners made dumb amateur mistakes in their open houses and Im sure that probably hurt them. So that would be my two cents... good luck!
Would be interesting to hear from actual closed buyers of FSBOs.
some of them do well.
others do better.
except for those who do worse.
Hubby and I bought our current apartment from a FSBO. We were looking at another listing in the building, toured the building's common areas, and saw a posted flyer from the FSBO.
Since I'm an agent, I then did all the "work" of putting out the deal sheet, pulling the package together, keeping the seller informed about the status of our mortgage approval etc.
ali r.
DG Neary Realty
Thanks for the nice word Ali.
Thanks Ali for recommending KeithB and thanks Keith for your helpful information on the phone....
Much appreciated!
damier212 - thanks for all your FSBO posts and questions, we are about to list our chelsea co-op via FSBO and so I'm reading on the boards. We are using Thomas Demsker's http://nbpny.com and he has been very helpful so far. When deciding we asked for referrals, he gave us everyone it seemed, and they were all very positive including those that had closed. Sniper above was also a client. We decided to pay buyers broker, and will be on the MLS.
Once we are up on street easy in a week or so I expect I will start a thread with new questions.
good luck! - kurt
My best advice, aside from specific strategy, is to take the emotion out the sale (if possible). Selling your home is a very intimate transaction, as it is something that is usually extremely personal; investment-type properties aside. Don't take it personally when an OH guest mocks your bathroom, lack of light, paint color, etc. Good luck!!!
and good luck to you KurtNYC, keep us posted, I am very interested......and also thank you crg5377, you are 100% correct and I don't know how to react to comments from OH guests until I hear them except to turn a potential negative remark into a positive or just plain don't react to what they are saying unless it is a direct question.
Happy New Year!
When you said on another thread that you wouldn't disclose the $23 million lawsuit unless asked directly, are you now saying that you'd try to position it as a positive? http://streeteasy.com/nyc/talk/discussion/24403-the-truth-please-about-fsbo
huntersburg- happy New Year, and thanks for spreading joy, happiness, and caring to all that post on Street Easy, I accidentally unblocked you and got to read your latest moronic posting that anyone with half a brain will know better. All best to you, you are so intelligent, and a great asset to Street Easy.
damier212, I sold FSBO, and at the bottom of the market at that. What's more, I had "no brokers" in my ad. A few brokers tried to barge in (even pretending to be the buyers), and I even saw my apartment listed by some brokers' as if it were their listing. Very annoying. By the end, I sold for more than asking, although not by much. The biggest problem I had was to spot the buyers who'd never pass my board, but that problem goes away quickly. One thing: my lawyer was excellent and instrumental in the whole operation.
Its definitely a skill that takes some time to develop. Maybe make a list of something you love about each room of the apartment and pretend that an OH guest tells you how much they hate it. Then role play about what you would say without too much of a hard sell (I know a little silly), but a good thing to practice.
The best way to qualify buyers is to try to get the ear of your board and see what they are looking for in prospective owners. Asking a potential buyer for their financials also takes some finesse, but like stakan says, you can learn it pretty quickly.
hey damier, our FSBO is starting and should be on the MLS and NYT + others by Thur or Friday. Though I expect NYT, MLS, and Street Easy to do most of the lifing, we also did a stand alone site. here it is.. http://405w23rd.com/ I think I'll post it tomorrow to get feedback.
The one thing I would have liked to know more fully was that the perception of an fsbo is so problematic. It seems so many buyers, brokers & sellers have a bad story. We are paying a buyer's broker comish. when appropriate, maybe that will help.
- kurt
Site looks good. You may want to add the percentage of maintenance that is tax deductible (unless I missed it). Good luck.
Looks good. Just to be clear, there is no MLS in Manhattan, there are sites like Olr and the main feed RLS that act as our "MLS ".
One issue I had was handling the broker traffic. They seemed confused when told to contact the seller directly when calling the "listing " broker who has placed the listing into the broker data base. Not sure how Tom handles that and what kind of feedback he/sellers have received.
KeithB - thanks for taking a look, I guess I use MLS as shorthand for "what works and acts like an MLS". How and why that doesn't exist here still amazes a newbie like me, along with why we don't have a real train to the airport.. As for broker traffic, yes we'll see. Technically I'll actually be listed as an exclusive, not fsbo, though the process on my end will be similar. He's got experience with it obviously, and I think the exclusive contract clears some of that up. Not ending approaches, but at least an answer to them.
crg5377 - good note, will do.
Damier-- you're always welcome to post your FSBO on StreetEasy if you'd like.
You can check out more information here:
http://streeteasy.com/nyc/manage/list_your_sale