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Need advice re FSBO

Started by newtothearea
over 14 years ago
Posts: 6
Member since: Nov 2010
Discussion about
Does anyone know of any rule/regulation that would prevent me from listing a "no broker" price? I would like to list my apt at about %3 below the market value, but make it clear that that price is only for those purchasers without brokers. Just trying to figure out the best way to do this.
Response by ab_11218
over 14 years ago
Posts: 2017
Member since: May 2009

how about listing it at 3% higher and then allow more negotiating room for the people who come without a broker. that would be must better to deal with.

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Response by steveF
over 14 years ago
Posts: 2319
Member since: Mar 2008

oh they're learning...newto thearea price rules forget ab's advice. The price is what captures everyone's attention. I would highlight the savings coming without a broker right in your apt summary remarks. Right there like...
"hey want to save 6% or $60,000 come to my house without a broker!" then when an offer is accepted at that great nonbroker price say "ok now please have your lawyer contact my lawyer" then say "have a great day see u at the closing!"

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Response by steveF
over 14 years ago
Posts: 2319
Member since: Mar 2008

or "if u come to my listing with a broker I'll have to add on 6% or 60k to the price....Advertise that in The NY Times.

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Response by West81st
over 14 years ago
Posts: 5564
Member since: Jan 2008

Just include the text: "Principals only. No brokers please." Standard stuff.

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Response by Bill7284
over 14 years ago
Posts: 631
Member since: Feb 2009

Just include the text: "Principals only. No brokers please." Standard stuff.

Yes, that is what is called the high road.

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Response by steveF
over 14 years ago
Posts: 2319
Member since: Mar 2008

don't be so formal. buyer will probably think he can't go because he's not an educator. make it plain and simple and lay out what the savings are. people understand savings. let them know that what they are doing is saving them money. take out an extra line for pete's sake.

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Response by steveF
over 14 years ago
Posts: 2319
Member since: Mar 2008

let's break that broker babble!...just a little bit of understanding will get the snowball rolling....:)

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Response by Fairway
over 14 years ago
Posts: 156
Member since: Feb 2011

You are just going to cheat yourself out of money for no reason by telling people your bottom line beforehand. If you have a higher price and a lower price, no one will start negotiating at the higher price, whether or not they have a broker. You should just set a price that's somewhat above your bottom line, and then take any commission into consideration as you negotiate.

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Response by newtothearea
over 14 years ago
Posts: 6
Member since: Nov 2010

There are several other listings in my building, so I want to stand out with a very competitive price. I'm not worried about cheating myself out of money because when the time comes to negotiate, it will be clear that I'm not going down much more beyond the asking.

steveF, I'm not sure if I should take you seriously! You sound a bit insane. I will probably take the "high road." I presume brokers contact you anyway, is that right?

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Response by newtothearea
over 14 years ago
Posts: 6
Member since: Nov 2010

1 more thing. Show apts furnished or unfurnished? I'll be showing after I move out, and am wondering if I should invest in having the apt staged...

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Response by romary
over 14 years ago
Posts: 443
Member since: Aug 2008

Perhaps the unspoken / untyped thought needs to be applied, just read the replies OP.

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Response by seven7
over 14 years ago
Posts: 161
Member since: Aug 2008

I tried an FSBO this summer and it was very time consuming as well as not that much fun, actually a lot of work, and you know what? As much as i thought that selling my apt was going to be easy, it's really not.
I must have seen 30 people and no offers. Eventually i eased out by accepting buyers brokers. One came with a client and the day after he had an offer for me. Buyers like to work with brokers.

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Response by jim_hones10
over 14 years ago
Posts: 3413
Member since: Jan 2010

wellsaid double 7. sounds like you realize your time has value.

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Response by seven7
over 14 years ago
Posts: 161
Member since: Aug 2008

It was as if since the attendees of my "Open Houses" saw me in the premise they could not envision themselves in it. That and- I guess i found out that I'm honestly NOT the best salesperson..

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Response by Mets79
over 14 years ago
Posts: 60
Member since: Nov 2008

Show the apartment furnished. Even if you decide to save money by skipping a broker, don't do it with staging. An empty apartment always looks smaller than than a furnished apartment. Plus, many people do not have the imagination to picture where their furniture will go in an empty space. Check out Cort - many of my clients have used them and have been very happy with their services. They deliver, unwrap, set up the furnishings, and then pick everything up when you are finished with the staging.

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