Listing FSBO's

Hmm, I thought I mentioned this in the other thread. There is a "for sale by owner" category in Craigslist and you can buy an ad in the New York Times. As has been mentioned many times, StreetEasy will not let you post your FSBO listing. I also use Twitter to post my open houses.

There are other routes you can try when marketing your apartment. You can try to post in rental buildings that are close to your unit in order to try to find a renter who is looking to buy. You could post signs in local coffeehouses. You can post in your own building. Use your imagination.

As long as you talk directly to buyers, with no brokers in the room, you do not have to pay brokerage fees. Be sure to write into the contract that no brokers were utilized in the sale of this apartment so as to protect yourself.

www.nbpny.com

sniper,
Aren't you still committing to pay brokerage fees on that nbpny site?

how so?

I thought the whole nbpny thing signs you up to pay 2.5-3% for brokers who show up with a buyer, no? I don't see that as a true FSBO marketplace.

you are incorrect, sir!

407 That would be me you are referring to, 2.5% for full broker participation not a true FSBO listing.
407PAS You are a hard-line FSBO, would it be of any benefit to you to be able to post your listing on streeteasy as things are?

sniper,
Any traction from that website? Have you had any actual sales leads from it? I wonder how much more effective it can be than the New York Times.

Mr. Burkhardt,
I am not sure streeteasy can bring any buyers, only provide a platform forinvite negativity and nasty comments, and discourage buyers from buying any apartments, not just mine. I have tried to post my listing here but I have been denied.

I am a committed FSBO seller, yes, mainly because I like to stay involved in the process. I don't like the term hard-line. In all other parts of life, I sell my own assets and am not attacked like I am when I try to sell my home.

yes, i have had a few people show at 2 different open houses and mention the site. time will tell how effective it will be but i already know that i am miles ahead of where i would have been without the consultancy aspect of my membership on the site (along with discounted NYT ad rate). practically any hour of the day i get guidance from seasoned nyc real estate veterans on questions i have. the answers i get are specific to my situation and specific to each possible buyer. that has been invaluable.

sniper,
Thanks for your comments. Where in the agreements you sign with the site is it mentioned that they are not functioning as your agents and are not entitled to a commission as a result of the sale?

Licensed Real Estate Agent: 407PAS, I like all of your suggestions! including the ones in which you send flyers to the local residents in rental buildings, because there are people currently renting, who are thinking about buying, and if they are already in your neighborhood, that's a plus, because they already understand all the intangible aspects of value in that context.

Some agencies allow a type of exclusive called "Exclusive Agency Listing" and in essence what this is is: "an exclusive agency listing is similar to an open listing except the major difference is the broker will represent the owner. The owner still reserves the right to sell the property herself and not pay a commission. The broker is free to cooperate with another brokerage, meaning the second brokerage could bring an able buyer whose offer the owner accepts. Typically, the broker is paid a listing commission that is shared with the selling broker, so the owner pays both fees." This option is not really considered by some agencies because they see it as a waste of time, because they think that people play games and try to get to the buyers behind the broker's back. I don't know.

bmw,
Thanks, I'm glad you liked the marketing ideas. I picked some of them up from my neighbor, who is a sales guy. They didn't work for him but that does not mean that they couldn't work for somebody else.

As for the Exclusive Agency Listing, I would rather just play this as a straight sale without any entanglements. All in or all out, as I have said before. I represent myself and talk directly to interested buyers. Most people will not want to do the work that is required, so there will always be business for agents.

Good luck with your listings.

thanks 407PAS, sounds wonderful, and yes, if you are in a position to handle your assets, then, also wonderful. Great satisfaction I am sure. I will let you know if I come up with neat ideas for marketing :)

sniper,
I don't think you ever answered my question:

"Where in the agreements you sign with the site is it mentioned that they are not functioning as your agents and are not entitled to a commission as a result of the sale?"

I just have trouble believing that the real estate agents who are running this service are not trying to function as your real estate agent. Call me cynical...

sorry - my life outside of the streeteasy posting board needed me for a few hours.

There are no agreements since they are not representing anyone. See the terms page on the site.

You should go to any hospital or schools in your neighborhood and give your flier to the HR dept/personel person or ask to post it on their bulletin board. THis is what agents told me they do. I got good response from this when I was FSBO.

Also, (this idea is a bit sleazy but it works) look where there are open houses in your neighborhood. That morning go around to ones that are close to your building and tape flier to the lamp post that would be visible to people coming to or leaving that open house. This will piss off agents but it works. Fuck the agents they're mostly un-ethical buckets of crap anyway. You should watch out for the police though, because apparently you're not supposed to do this - although people do. THe worst that will happen is they'll ask you to take them down.

Why won't streeteasy list FSBOs? It doesn't make any sense to me.

If streeteasy truly wants to make itself into a kind of MLS for nyc then it needs to take FSBOs. This would really make it the goto site. As is, you have to troll NYT and craigslist to get a complete view of the nyc market.

SE, what do you say?