Pros for doing a private sale?

I tried selling my place FSBO for a few months and did not get any great offers. Everyone wanted a deal, even though I priced it lower to split the difference of the brokers fee. I am currently with a broker and find that they bring in more foreign buyers and not the locals I was getting by posting on craigslist and NYtimes. I definitely would recommend using a broker, and not a big broker but a small firm that might be willing to work with you on the brokers fee and is easily accessible. Some of these big brokers think they are celebs and won't return calls or emails for days. I can give you my brokers info if you would like. I highly recommend him...

urbangreener: did you list it on SE?

I did not post on streeteasy.

A middle ground that most FSBOs seem to advocate is opening it up to buyers brokers. Then you would still the foreign buyers etc.

After a few open houses, I did open up to buyers brokers but still couldn't get any great offers. I believe they thought I was desperate to sell. Anyway, it's the buyers loss because now I am in contract for 18% more by using a broker. just my 2 cents...

SE is a great site to list. Many brokers use it for both buying/selling. As Ottawanyc said, "buyers brokers welcomed" on listings will get more traction. Two of my photography clients are about list their condos as FSBO in the UWS. Priced under comps even with buyer's side commission.

Congrats. In the end, it's all about getting the deal done.

What is FSBO?

Definitely think that you should list on SE. Try it by yourself for 3-4 weeks, and then you can switch to a broker if you wish.

thanks for thoughts on ur exp urbangreener...

but what i meant was an actual "private sale" with no listing to the public whether via a broker or not..

i think what you are inferring is whether using a broker or not (i can see both sides to this coin), which still gets listed to the public regardless.. but what I meant was truly private sale between 2 parties (and brokers if they have, tho probably not unless used as admin for closing if too busy or foreigner) without the public ever knowing of the listing, save closing docs via ACRIS.. thanks

ps .. please share your broker if you want to publicly..

we are also purchasing in midtown west, so he can get double, but we are pretty familiar with purchasing already, but who knows

ss400k: I have no experience with "private sale". sorry for the confusion.

As for my broker, I highly recommend Rolan Sereny from Brick & Mortar. brickandmortar.com He has brokered the sale and rental of 2 of my properties, and is honest, motivated and best of all, he always picks up his phone. tell him max sent you...

Good luck!

danke max!

I found that large brokerages generally would not bring their buyers to FSBO. Just a way they protect the cartel.

"private sale" is usually for when the seller doesn't want a lot of customers tromping through their apartment -- either they are a person of note who wants to protect their privacy (Conan O'Brien's apartment was never formally listed) or they have a new baby or just had an operation or for some other reason don't want to have to work with juggling showing requests for different dates and times.

If you're not in either of those categories, I don't see how it benefits you to limit your potential audience. The general rule in the real estate industry is that widespread exposure (and in Manhattan/Brooklyn that generally means REBNY database, NYTimes, Streeteasy, Trulia, etc.) gets you the best price.

ali r.
DG Neary Realty

This has been given up in favor of the 4%?

good exposure would cost you a few hundred bux and take a couple of hours to set up.

what can impede a sale is having negotiation filtered through brokers who gain nothing from not insuring you get best reasonable price. they want deals done. preventing you from selling under market is of no help to them. quick deals are what help them. your agenda and their's are diametrically opposed. read freakonomics--great chapter on this very mismatch.

and to stap a 6% tax on a deal, where unnecessary give all parties nore roon to get to a pleasing price.

get a good lawyer, yes--a broker, no.

private sale might be to an adjoining neighbor or other building resident. If you are good with price, private deals are great. Your buyer is known to your board, and knows the rope with closing and all else re the building. No surprises prior to closing. Unless your neighbor is a con like buddy fletcher. Avoid cons!

also, with anm adjoining neighbor, you are not competing with other sellers. yours is the only apt that would work for their specific plan. bring that concept to negotiation.

wow, nice sentence.

and to not strap a 6% tax on a deal, where unnecessary, gives both parties more room to get to a pleasing price.

I agree with yikes about cons.
Sorry C0C0.