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FSBO vs. Realtor: What I Learned from Selling our Home

10/30/2020

27 Comments

 
Real Estate can be a huge money maker, but it is very hard to understand without lots of experience and help along the way. 3 years ago, I walked into it thinking, no biggy, I can sell our Brooklyn Co-op on Zillow, For Sale by Owner (FSBO for those in the know). Why do I want to spend $30K on commission to realtors!? Am I right? Wrong... I failed. Hired a realtor, and they failed, too (partly because we were both over confident, and also because we didn't follow their suggestions for fixing up the home). Two years later we came into it knowing what we knew, hired a new realtor and finally succeeded in selling it quickly and at a great profit to boot. After all of this, here's what I learned and would like to share with you!
usjapanfam - FSBO v. Realtor - what you need to know before selling your home

Watch it all in this YouTube video or read it below!

What You Need to Know About FSBO
(For Sale By Owner):
  • ZILLOW: Yes, it's free to use as a buyer, seller, and renter. Seems too good to be true, and as a seller, it pretty much is too good to be true... What they don't tell you, and this is something to watch out for as a buyer as well, is that when you list FSBO, a "premier agent" (i.e. someone who pays to play) will almost always get their contact info listed above you, and most people don't realize that. They just click contact and get sent to that realtor who has no idea about you or your property. They may answer the client and say "Yes, I'm happy to show you the property" and then get in touch with the seller to arrange a showing. They may also answer the client saying "Oh I'm sorry that listing is already sold, but I have many others I can show you" whomp whomp whompppppppp NOT COOL!!!! For this reason, I really dislike Zillow, as do most realtors who don't pay to play as premier agents. Also, many listings are scams (homes not actually for sale, just pulling you in so that the realtor or landlord can show you stuff they do have) and many are out of date (already off market but Zillow hasn't updated yet). So frustrating!! Zillow can be very helpful in your search, but use it with eyes wide open, please!!!
the danger of FSBO with zillow
  • SPAM CALLS: When listing FSBO, your contact info is out there for the masses. This means you will get a bazillion calls. Not from people wanting to buy your property, but from thirsty realtors trying to convince you that you should list with them. It's VERY annoying. And if you give up and unlist your property, the calls keep coming. For months. If you decide to FSBO, consider getting a phone line and email address only for this purpose.
  • STRANGER DANGER: When selling your own home, you are also responsible for hosting open houses and showings. People you don't know are coming into your home. Most likely totally fine people who are just looking to buy a house. But you never know if one of them could have bad intentions, and it's kinda scary.
  • CHILD CARE: When you show your home or host an open house, you really shouldn't have your kids home (remember the potential danger I mentioned above? Plus no one wants kids running around, it's hard for you to show the home and hard for potential buyers to focus and picture that as their own home). If you have a spouse/partner who can take kids out for a few hours it's not a big deal, but you'll get calls from realtors wanting to show the place in a couple of hours, and it becomes a real headache trying to juggle schedules or find a last minute sitter (which adds up $$$ real quick).
  • THIRSTY REALTORS: Great realtors follow the moral code, but shady ones will simply not show your FSBO property to their clients because they aren't guaranteed half of the commission that they would be from a home listed by a realtor. Maybe if you find it yourself and ask them they'll take you, or they may say "Oh I called, it's just been purchased". Hmph. One way to try to get around this is by promising seller's agent a 1.5 - 3% commission in your FSBO listing.

Avocado Green Mattress

Photography is IMPORTANT!!!
If listing FSBO, you definitely should consider hiring a professional real estate photographer. They know the best angles, how to use wide angle lenses to get the whole room into a shot, how to perfect the lighting, heck they can even edit in blue sky through your windows if it was raining on the shoot day (they did on mine, below right)! HA! Professional photos are almost always covered by the realtor's agency, which is a big plus! I'll show you an example of our home below, with my DIY photos when I did FSBO (on left) vs. the professional photos after decluttering with our realtor (on right). In the 2 years between listings, we replaced the old foggy windows (realtor's suggestion), did a mini kitchen renovation (our choice), put a ton in storage (realtor's suggestion), and removed the gate from our fire escape window (realtor's suggestion). I've seen some listings that were so horribly done, even had dirty dishes or people in the shots!! Just a big no to that guys, no no no!!! First impressions are so important! You don't want to mislead people, which is why I'm not a fan of the virtually staged photos showing what it *could* look like after a renovation, for example, because then they walk into your home and it's a big let down. But you can show it in its best light with great photography, for sure!
US Japan Fam shows DIY vs Professional Real Estate Photos

My Take on Using a Realtor:
  • Not all realtors are created equal. Boom. I said it. Some have much more experience than others,  are more knowledge in your area or about your type of home (ex. if you have a Brooklyn co-op, make sure you're using an agent who has lots of Brooklyn co-op sales under his or her belt). Some may have better teams and agencies behind them who have more budget, connections, and know-how when it comes to marketing. There are TONS of differences, so do your homework when finding a realtor!
  • The commission is not set in stone. You can negotiate this! Typical is 5 or 6%, split halfsies with the buyer's realtor and the seller's realtor (who then have to pay a good chunk to their team and agency, so they don't get nearly as much as you think they do). But you can get creative with the commission. For example, see if they'll go for something like 4% if the buyer doesn't have a realtor, and 5% if they have to split with buyer's realtor.
  • When buying, you are very unlikely to save money by not using a realtor, unless you find a great FSBO that is (in which case make sure you have a great inspector and lawyer so you don't get screwed over with a lemon or scam). The seller's realtor will not want to negotiate away some of their commission if they don't have to. So just because you don't have a realtor to split it with, it's not likely they'll say "Oh ok then you can have 2% off the selling price." Nope.
  • Meet with several realtors and go with one you feel is trustworthy, experienced, and that you vibe with. Make sure you're on the same page about how much input you want in the process, how often and in what cases you want an update (for example, do you want a call after every open house to know how many people came, or do you just want to know when you have a solid offer). They'll research comps (similar homes that have sold recently - at what price, how long on market etc) and give you some options for pricing (highest, middle road, and lowest for quickest sale). Keep in mind pricing depends on the market, and over pricing could mean you are listed for months and months and keep having to drop the price and oh my gosh, this is what happened to us 3 years ago. This last time around, our realtors were realistic, we agreed on a very fair but good listing price, and it went very quickly!! 
  • Realtors can also be very helpful in suggesting what you need to fix, repair, replace, declutter, put into storage, etc. The first time we tried to sell, we were not receptive to these "expensive" suggestions and just kinda said NAH. 9 months later, after having dropped the price a whopping $70k, we gave up on the sale. Second time around we listened to our realtors, we put a HUGE amount into storage and yes it was a pain in the butt but made a world of difference!!!
  • Realtors can also gave you great suggestions for staging - we bought some huge mirrors that made it appear more light and spacious. Put some paintings on the walls, put flowers out. If you want to really go for it, they can help you put everything in storage and hire a company who will fully furnish and stage the place, this is an especially great option if you've already moved and don't want to show it as an empty space. Some buyers need to visualize it as their home, and could use some help.
  • Realtors are very helpful in negotiating the price with the buyer, but it also leads to a bit of frustration because the back and forth has so many involved!! Buyer puts in an offer through their realtor who calls your realtor who calls you. You discuss and come up with a counter offer and your realtor gives to their realtor who gives to buyer. They discuss. And continue... If you offer too low or counter too high, the other party may be offended, not think you're serious, and just walk. It's such a game and I had no idea how to play, our realtors were SO helpful. 
  • Realtors can also be helpful finding you a good lawyer, inspector, etc. If it's someone they work with often, they may even be able to get you a discounted price!

Moving Boxes & Supplies

OK there you have it! What I learned from a failed attempt at FSBO, a failed attempt with a realtor, and then finally a great success with a realtor! If you're looking for a great realtor in Brooklyn / NYC, we loved ours - Juliette Pannone, Licensed RE Salesperson with Corcoran, who says "Think of hiring a real estate agent as adding an advocate for yourself to help navigate what is sure to be an emotional, time sensitive, and financially important process."

We're currently renting and will be looking to buy in a couple of years and you can be sure, we'll be using a realtor to help us through that!! If you have any tips or insight, I'd love for you to share via a comment below!!!

Related articles you may find helpful:
  • Checklist for Moving to a Rental Home or New House
  • List of NJ Towns with Free Pre-K, Late Birthday Cutoffs, and Half Day Kindergarten
27 Comments
Mimi link
10/31/2020 04:00:56 am

Selling a house in Italy is different, we don’t have open showings so you can do everything on your own or with help in complete safety but it was interesting to learn about how it works in the states

Reply
Charlotte Surveyor Group link
8/11/2022 04:28:08 am

Definitely a realtor. There's a lot more to selling a house than I anticipated. I'm so glad I discovered all of this before listing my house.

Reply
Mahnoor Khurram
10/31/2020 06:25:06 am

This is pretty informative and detailed!

Reply
Harmony, Momma To Go link
10/31/2020 06:32:56 am

Yes! We are in the process of selling our home - no way we would go it alone. we are hopeful to get it sold soon!

Reply
Tami link
10/31/2020 09:13:34 am

I think I'll use a realtor. There's way more to selling a home than I expected. I'm so glad I found all this out before I listed my home.

Reply
Mae
11/1/2020 12:51:03 am

I've always used a realtor to sell my house and to buy a new one. Some great points here!

Reply
Juliette Pannone link
11/10/2020 04:28:25 pm

Thank you so much for working with me, Heather, and for all of the kind words! I really appreciate it. It was a pleasure working together and it makes me so happy that you are happy with how the process went, and in your new home!

Reply
Sherwood Park Realtor link
4/4/2022 08:47:01 am

The value of your home can be a pretty big indicator of whether you’ll want to list the home by yourself versus using a Realtor. At the higher end of the home value scale, you’ll most likely want to use a Realtor.

Reply
Land surveyor near me link
7/13/2022 08:34:36 am

Selling a house in Italy is different; we don't have open showings so you can do everything on your own or with help in complete safety, but it was fascinating to learn how it works in the United States.

Reply
Chase Blackmon link
12/8/2022 10:44:09 am

This is great content. Thanks for sharing!

Reply
Mary Samuel link
3/10/2023 10:47:51 am

When selling your own home, you are also responsible for hosting open houses and showings. People you don't know are coming into your home. Most likely totally fine people who are just looking to buy a house. Thank you for making this such an awesome post!

Reply
Jack Barros link
3/11/2023 10:35:51 am

You don't want to mislead people, which is why I'm not a fan of the virtually staged photos showing what it could look like after a renovation, for example, because then they walk into your home and it's a big let down. But you can show it in its best light with great photography, for sure! Thank you for the beautiful post!

Reply
Houses For Sale in Ridgewood NJ link
4/24/2023 01:02:58 am

The essay is really well written and discusses the pros and cons of selling a home by the owner as opposed to using an agent. I am overjoyed to have come upon stuff that is written to such an extraordinarily high standard. Excellent arguments!! We would appreciate it if you could keep us updated with such information.

Reply
Luxury Homes in Madeira Beach FL link
6/1/2023 01:43:25 am

After my initial attempt at selling our Brooklyn Co-op as a FSBO, I quickly realized the complexity of the real estate market. Despite my reluctance to pay a realtor's commission, I eventually understood the value they bring. However, the first realtor I hired also fell short, partly due to our overconfidence and failure to follow their advice on home improvements. It took another two years and a new realtor for us to successfully sell our property at a remarkable profit. Through this journey, I learned that experience and expertise are crucial in navigating the real estate market effectively.

Reply
Homes For Sale in Grimesland NC link
8/25/2023 10:47:44 pm

This post is a treasure trove of wisdom for anyone considering whether to go the FSBO (For Sale By Owner) route or work with a realtor to sell their home.
I've consistently chosen to engage a realtor for both selling my home and purchasing a new one.

Reply
Residential Nevada Movers link
9/5/2023 09:33:04 am

We provide residential moving services for Las Vegas. We’re very proud of our professional, licensed, fully insured, and trained moving team!

Reply
conveyancer near me link
10/6/2023 09:01:10 pm

You are in command of choosing a listing price, how many showings to have, when to hold open houses, and even who to sell to without the assistance of an agent. Many sellers find it extremely inconvenient to have to leave their home quickly for showings and conduct open houses every weekend, not to mention the necessity of thoroughly cleaning and organizing their property before each visitor! As an FSBO seller, you control the showing schedule and methods. Furthermore, you won't have to wait for your agent to contact you to let you know when buyers would be viewing your house. This can shorten the purchase process and lessen the need for communication with a third party on your property sale.

Reply
Russell Anglin link
11/24/2023 05:13:25 pm

While selling your own home, you are likewise answerable for facilitating open houses and appearances. Individuals you don't know are coming into your home. Thank you for sharing your great post!

Reply
Cheap Homes and Apartments Turkey link
11/26/2023 07:13:55 am

The areas that stand out the most;

Although it is close to the sea, the prices are a little more reasonable because it is located a little further from the city center, but the interest always continues. Mostly pensioners and local buyers who have settled in Antalya from other cities are showing interest. The average rental depreciation period is around 200 months. The houses are in a newer condition compared to the central regions.

https://turkishclassified.com
https://turkishclassified.com/category/turkey-property-for-sale
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Reply
Leo Pace link
11/11/2024 11:31:02 am

Your blog post provides a valuable firsthand perspective on the FSBO vs. Realtor decision. It’s clear that while selling without a realtor can save on commission fees, it comes with challenges like pricing, marketing, and negotiating. The insights you shared about how working with a professional realtor can ease the process by providing expertise and support are incredibly helpful. Thanks for sharing your experience—it's sure to be beneficial to anyone considering selling their home!

Reply
Alex Gregory link
11/12/2024 11:49:11 am

It’s insightful to read about your personal experience with FSBO vs. working with a realtor. Selling a home can definitely be challenging, and I can see how your lessons learned would be valuable for others in the same position. While FSBO offers more control and potential savings, the convenience and expertise a realtor provides are often invaluable in securing the best deal. Thank you for sharing your journey and helping others make more informed decisions.

Reply
Garland Blanchard link
11/14/2024 11:04:12 am

Great post! It’s clear that selling a home without a realtor can come with challenges, but your insights on navigating the FSBO (For Sale By Owner) process are really valuable. The comparison between the pros and cons of using a realtor versus selling independently is something many homeowners struggle with. It’s great that you shared both the struggles and lessons learned, especially regarding pricing, marketing, and handling negotiations. Thanks for sharing your personal experience!

Reply
Theron Norman link
11/15/2024 10:05:32 am

Drone photography is an excellent tool for showcasing real estate in a visually striking way! As the blog highlights, using aerial shots can offer a fresh perspective of a property, attract more potential buyers, and help homes stand out in the market. Realtors and homeowners should definitely consider incorporating drones into their marketing strategy for maximum impact. Thanks for the helpful tips!

Reply
Garret Osborn link
11/19/2024 10:40:32 am

A personal and insightful take on the pros and cons of FSBO versus hiring a realtor. This perspective helps sellers weigh their options and decide the best path for their specific needs.

Reply
Lewis Brewer link
11/20/2024 11:05:56 am

Very insightful post! It’s always valuable to hear firsthand experiences, and your comparison between selling FSBO versus using a realtor is eye-opening. I appreciate how you highlighted the challenges of doing it on your own and the value a realtor brings to the table. Thanks for sharing your journey!

Reply
Dominic Raccore link
12/4/2024 04:19:05 pm


Thanks for sharing this article—it’s such a relatable breakdown of the pros and cons of selling a home FSBO versus using a realtor. I appreciate the author’s honesty about the challenges of selling FSBO, especially how much time and effort it takes to handle all the details, from pricing and marketing to negotiating offers. It’s a good reminder that while you might save on commission fees, you’re essentially taking on a part-time job to sell your home.

That said, the article also highlights the value a good realtor brings, like pricing expertise and a wider reach for potential buyers. For someone who doesn’t have the time or knowledge to navigate the process, a realtor can be a worthwhile investment. I think it ultimately depends on your situation—how much you’re willing to take on yourself and whether you’re confident you can price and negotiate effectively. It’s great to see an honest account that gives readers a balanced perspective to make the best decision for themselves.

Reply
Matthew Grey link
12/5/2024 05:52:33 pm

Your blog on FSBO vs. Realtor offers a well-rounded and relatable perspective for anyone navigating the home-selling process. The way you outlined the pros and cons of both approaches, combined with your personal experience, makes the topic accessible and engaging. It’s especially helpful for readers to see the financial and emotional trade-offs you encountered, such as saving on commissions versus managing the stress of going FSBO. Your decision to ultimately work with a realtor highlights the value of professional support in such a significant transaction. This post is a fantastic resource for homeowners trying to decide what’s best for their unique situation.

Reply



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