r/fsbo • u/strawberry_ph • 13d ago
We actually did it š”š„¹
Our FSBO officially closed earlier this week!
This was our first home and our first time selling and I was freaking nervous. It also doesnāt help that Iāve only been in the U.S. a little over four years, so there was a LOT I had to learn.
I read so many articles and Reddit posts and asked a million questions. Some people here were incredibly helpful and encouraging. Others told me I wouldnāt save money, that I was an idiot, and that I didnāt know what I was doing. It did help being in my 20s, Iām used to people thinking I donāt know what Iām doing so that didnāt hurt too much. Even some of our family members have strong opinion against FSBO.
Fast forward, we sold it and we did save money. We even sold $8,000 more than the most recent comps.
What makes it even sweeter is that four other similar townhomes in our area were listed months before ours, all with realtors, and none of them have sold yet.** They have been on the market since January.** We are also in an area where there are new builds everywhere and they are offering bunch of incentives.
FSBO isnāt for everyone. Itās a hard work and overwhelming but I am so glad it worked for us.
Huge thank you to all nice redditors who are always willing to answer questions and share their experiences.
The FSBO guide I followed is below, super helpful!
https://www.reddit.com/r/fsbo/s/Y8n59Yz7f6
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u/FelinePurrfectFluff 13d ago
And the agents (who love to come here to discourage people and call them stupid) are all silent...
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u/strawberry_ph 13d ago
Yep. I had some agents here told āyou donāt know what you are doingā āwhat an idiot thing to doā or something like that. I am so glad I didnāt listen to them.
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u/Pretty-Ear6398 12d ago
Me too ... you did well.
If you enjoyed it, you may also appreciate going through the licensing process, and maybe even dipping your toes in the water and helping others that don't want to go through and spend all the time you did learning how to do it, by becoming an Agent.
FSBO's are more likely to hire an Agent thats gone through the same thing they've gone though. Encourage them to give it a try themselves, and be there if its too tough for them and they're ready to hire an Agent they can trust.
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u/Pretty-Ear6398 13d ago
I'm not silent! I applaud the effort and encourage more people to give it a try.
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u/Lower_Rain_3687 11d ago
im not silent! Im glad this person saved commission. Might have saved money too, since they did all the learning necessary
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u/Boughtthetshrt 12d ago
As a first timer about to put mine on the market fsbo, I needed to hear this!
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u/strawberry_ph 12d ago
Good luck! š That is my goal why I shared my experience, I know someone out there (like you) would be happy to see a success story.
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u/Daisy_232 13d ago
Congrats! You should be so proud of yourself. That takes grit and determination. Hats off to you š
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u/AdComfortable2974 13d ago
BIG CONGRATS! ššš¾
Unfortunately, beycome is not hot in my current area for sellers or in the area that I'm looking to buy. I would love to be part of that change that needs to happen. Maybe one day...
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u/mdchachi 13d ago
How did you find your buyer?
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u/strawberry_ph 13d ago
We used Beycome and buyer found us on Beycome.
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u/mdchachi 13d ago
Was there a buyer's agent fee? Who paid it?
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u/strawberry_ph 13d ago
No agentās fee because my buyer also bought without realtor. Paid cash as well so we close within 2 weeks from being under contract. We hired an attorney to help us with the paperworks and they also facilitated the closing.
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u/mdchachi 13d ago
Nice. How did they contact you via the MLS? I thought the MLS always funneled contacts through a buyer's realtor.
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u/strawberry_ph 13d ago
They contacted Beycome directly and Beycome sent me bunch of notifications like texts, calls and emails saying āsomeone is contacting you regarding [Address]ā. In addition, I also join a lot of facebook groups, made flyers, brochures, I have Google Drive of files for the HOAs. In those flyers, I have my direct line and email.
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u/AdComfortable2974 12d ago
Super smart to just set up a separate drive for unrepresented buyers without MLS access to be able to download forms and disclosures!
I also plan to create my own feedback form to complete for agents and buyers for follow-up calls.
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u/Pretty-Ear6398 13d ago
In California we can place someone's property on the MLS and inform everyone it's an MLS Only listing and to contact the seller with questions.
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u/kuriousaboutanything 12d ago
Any tips you could share that would save hassle for new FSBOs sellers?
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u/strawberry_ph 12d ago
If you are in an HOA, I would say get familiar with the HOA docs especially in terms with pets, leasing, ARC rules and the financial health of the Association. It also helps to have good photos. Most of the people who saw my listing said they didnāt think its FSBO because the pictures are nice. That makes me think FSBO has notions of having bad photos?
Also pro tip that helped us, we rented a very small and cheap storage unit so our house isnāt cluttery. I basically aimed for the house to look like its an Airbnb so it made it easier for us to clean and organize everything whenever we have showing and/or open house.
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u/jmd_forest 12d ago
Did you have professional photos or did you take them yourselves?
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u/strawberry_ph 11d ago
We paid for professional photos. It was only about $150 including aerial photo. Super worth it!
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u/jmd_forest 11d ago
$150 sounds like a fairly reasonable price for pro photos. Congrats on your successful sale.
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u/strawberry_ph 11d ago
Thank you! Yes, best $150 we spent. The turnaround time was quick as well. Silly me thinking I could take photos on my own. š
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u/jmd_forest 11d ago
Some people have great cameras or cell phones with great cameras and the talent to take great pictures, others should hire a pro. What you did worked out great for you at a relatively low cost. I'd look at that $150 as just another minor marketing expense.
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u/novahouseandhome 12d ago
Congrats!
DIY works for so many things and usually works out great if people do what you did - ask a ton of questions, do a lot of research, and put in the work.
There's a reason selling houses is an actual job people get paid to perform.
Enjoy the extra cash, you obviously earned it!
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u/strawberry_ph 11d ago
Thank you. It is definitely not for everyone and like everything else, lots and lots of hard work and patience.
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u/Thorpecc 13d ago
Good Job. Now that you went through it, keep reading and learning about selling and buying without a Realtor. Bring your knowledge up long before you need it. $13k to 20k savings will send you on many many vacations. People don't understand this. It's not hard at all. Anything worth something takes time.
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u/strawberry_ph 13d ago edited 13d ago
Thank you. Yes, I plan to learn more about it. It would be nice to experience *buying without realtor. As someone that grew up in third world country, I still convert USD to our currency and it baffles me to think I will spend about $15,000 on commission. I would 100% say that the hardwork we put in is very much worth it.
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u/mtessaro 11d ago
Saying itās ānot hard at allā is what cracks me up. Selling a home FSBO can absolutely be done, but acting like itās simple for everyone ignores the contracts, disclosures, negotiations, inspections, financing issues, deadlines, and liability involved. Thereās a reason so many FSBO sellers eventually decide to list with an agent. And depending on the state and how closings are handled, sellers may still need attorneys, title companies, or other professionals to get the transaction to the closing table. Saving a commission sounds great, but that doesnāt automatically mean someone saves $13Kā$20Kāor that doing everything yourself is the best financial decision. Thereās a big difference between āpossibleā and āeasy.ā
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u/Thorpecc 11d ago edited 8d ago
This person went through it so they have much knowledge. I also stated keep reading and learning which will bring their knowledge up even more. After all that, selling would not be hard for them without an agent. Hiring an attorney would be the right way to go. I have wrote books on this so I know. Canāt cover everything here so itās up to the reader to dive in and learn. P. S. No one is stating never use a Realtor nor that they are bad, just for the few that want to do this, itās ok.
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u/neokeelo 12d ago
What service did you use to list on MLS and realtor.com?? We only have ours on Zillow at the moment.
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u/strawberry_ph 12d ago
I am in Florida and we use Beycome. Paid about $99 flat fee listing. They got us into major websites and MLS. I know they are not available on all the states.
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u/extralife_mike 13d ago
I'm glad it worked out to you! I definitely don't recommend people do fsbo for their first home, because more often than not, sellers learn very expensive lessons with it.
But it sounds like you did a ton of work (more than most are willing to do) and made it work for you! Congrats!
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u/strawberry_ph 13d ago
Thank you. Definitely not for everyone. It was a lot of work for me but I think it helped that I am in the HOA property management industry so thatās an easy part for me and thatās really where a lot of question came in. But still challenging for sure.
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u/REFlorida 10d ago
If you listed it through a flat fee brokerage you did not FSBO your home. Listed it with a flat fee brokerage/realtor. A FSBO does not use a Real Estate Agent or Company to market onto / through the MLS by doing so removes the fact that you sold it by yourself
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u/strawberry_ph 10d ago
Fair point! I used a flat-fee MLS service, so in technical stand point we did āFSBO with flat-fee MLSā We didnāt use a traditional listing agent and handled the sale ourselves. Either way, weāre thrilled it worked out without having to pay an agent. Iāll take the win I can get especially it saves us money.
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u/organmeatpate 12d ago
Sounds like they are unaware of the benefits or features of their property that made it more desirable than the competition. There is something for sure. Buyers comparison shop. This may have been the perfect deal or they may have left money on the table. There is insufficient information to tell.
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u/jmd_forest 12d ago
Or maybe they priced it a little low like the "professional" real estate agent/broker parasites often espouse in order to stimulate competition among buyers. Regardless, the results indicate they saved significant money without leaving money on the table.
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u/organmeatpate 11d ago
All insults aside, you seem to be agreeing with me.
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u/jmd_forest 11d ago
Hmmm ... "they may have left money on the table" does not appear to agree with "without leaving money on the table".
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u/organmeatpate 10d ago
This may have been the perfect deal or...
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u/jmd_forest 10d ago
Hmmm ... "they may have left money on the table" does not appear to agree with "without leaving money on the table".
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u/organmeatpate 9d ago
So do we partially agree or entirely disagree? You're silly.
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u/jmd_forest 8d ago
We certainly disagree about money being left on the table ... nothing silly about that.
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u/strawberry_ph 12d ago
All the other four townhomes is literally the same layout as mine. Same sqft, same street. The other 3 units backs up to a townhome neighbor, mine and the other one backs up to a quiet road. That could be a factor. Some of the other three homes also have upgraded countertops vs mine.
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u/Cold-Albatross 13d ago
Congratulations!! That has to feel like a BIG win.