I’ve seen this house FSBO for awhile now. It’s a great house in a nice area. I’m wondering if the asking price is crazy and that is why it’s not selling. Anyway, does anyone have any luck with FSBO?
Not to answer a question with another question, but what does your preliminary research tell you? I just ramped out a national quick flip program offering 90% to FSBO’s with a 21 day close. Typically, I’ve done well with FSBO’s and I’ll keep you posted on the success of this new program.
I’ve only written to a few FSBO and nothing yet. I think I’m going to put more effort into them because I’ve found a few while driving around. I’ll keep you all posted
Most of the time FSBO prices will be high.
But the good thing they usually do not know how to close the deal.
Usually you can make a couple safe assumptions about FSBO’s.
- They think they’re better marketers than anybody else.
- They can’t afford to give up 6% in commissions, telling you the deals skinny.
- Or they have plenty of equity and aren’t motivated, just testing the winds and don’t really care if they sell or not.
I’ve read stats saying that only 20% of FSBO’s actually managed to sell their home in 180 days. Keep an eye on 'em, since they’ll eventually be motivated.
I just ramped out a national quick flip program offering 90% to FSBO’s with a 21 day close.
How do you make any money on this with such a high LTV?
Why write them? Every FSBO sign I’ve ever seen has a phone # on it. Call them. Find out why they are selling, how long have they been trying to sell, etc. Is it their primary residence, or was it a rental they are tired of. You just never know, there just might be a deal there. If you turn over every stone, you just might find a nugget of gold under one of them. :dance2:
I don’t understand the anti-FSBO thing
we rarely list a property - usually get real close to what we ask - sometimes without an ad in the paper
a good portion of the property we buy are fsbo
rarely a hitch & I’m no brain surgeon
I agree with calling vs. writing. I have used door hangers if I’m in the neighborhood and see one that no one is home. I’ll wait a few days then I’ll call.
I also think Dave is right on with the quick assessment of the FSBO seller. Usually they fall into one of the categories he posted. Most FSBO sellers do little else to market the house besides the sign in the yard and maybe a flyer in a tube so don’t let the days on market for a FSBO scare you away.
Ok, I’ll contact the owner. I noticed that this person was listed with an agent and the listing expired. Now, the house has been FSBO for awhile. I’m always checking on it and it’s in a good location and house looks in good shape. I was guessing the person is asking too much but will be motivated the longer this house just sits
What are you waiting for? Go over there and make them an offer! It will sit on the market only so long then one day it will sell for a price you can’t believe and you’ll say to yourself: “I wish I had made an offer.”
Nothing beats the good ole traditional door-knocking
Don’t wait on FSBO. I have one down my street, and of course I don’t take my own advice and waited to long and it got listed with another realtor. Definately call…I don’t like dealing with FSBO’s. They have an attitude out here. You have to work real hard for them. Much harder than normal. Expireds the same way here in CT…The thing with expired…they have already had a bad experience with an agent…need I say more??? Exhausting business…