Has anyone used forsalebuyowner.com?

Sassy · Aug 17, 2009

I've had my house for sale for 2.5 yrs now with no luck. To make a long story short, we get an contract on the house, but the couple backed out. I feel like my agent isn't helping the matter, so I've decide to sell it by owner or lease to own. Has anyone used one of the sites like forsalebuyowner.com, homesbyowner.com or owners.com? Just wondering how that worked out for you.

marilyn · Aug 17, 2009

Sharon

you basically have to do marketing and do all the work yourself to move it.....It's tough in many areas for re-sales, due to competition with new homes, short sales and bank owned properties..I did sale by owner a couple times, but it took so long...... it was a buyers agent both times that saw the home listed and brought a buyer.

Try as many internet sites as possible too, and tell everyone you know..otherwise getting an agent would not be a bad idea in this market.

Good luck

pesty4077 · Aug 17, 2009

I work with alot of Real Estate Agents, about 75% shouldn't be agents. I personally think you need a better agent, one who is very knowledgeable and knows how to work in this slow economy.

marilyn · Aug 17, 2009

yes..

pesty4077 said:
I work with alot of Real Estate Agents, about 75% shouldn't be agents. I personally think you need a better agent, one who is very knowledgeable and knows how to work in this slow economy.

this is unfortunately true....do you homework if you decide on working with a realtor....I've worked with many recently that do nothing for their clients, and basically slow down the process..you have to stay on top of some of them..remember you are the client, if they are not doing their job, dont wait, let them go.

ericraven2003 · Aug 17, 2009

Most people I know have not had good luck with Buy owner. The particular agent you pick is what's most important. I would say around 90% of the agents are bad. Focus on finding a top selling agent and ask what her average time on the market is AND never have a friend, or a friend of a friend do it. You want the best not a favor.

Sassy · Aug 17, 2009

The last time I had to sell a house was when I got divorced. It was a brand new house that we had only lived in a year. We put it on the market and then 9/11 hit, so the market was really tough. My ex kept changing agents when the contract ran out so we must have gone through 4 or 5 agents. Most of them didn't want to deal with us by time the house sold, and I didn't want to go through that again. So I thought I was using one of the better agents because of the experience I went through last time.

The town where I use to live has a very high unemployment rate, 13% because it's main industry is carpet and floor covering. We also had large population of Mexicans. Once the mills started laying off, most of them left town looking for other jobs and they just walked out on their houses leaving them for foreclosure. They estimated the foreclosure rate for last year at 4 a day.

Most agents aren't to eager to do a lease to own on house. In fact in the early spring, I had a lady inquire about it and my agent discourage me. Now I'm regretting that decision. It's worked out well for Everlast's house. I'm thinking this is going to be the only way I can sell mine.

I'm not scared of marketing... that's what I do for a living.

MrStick · Aug 18, 2009

We are currently selling our house. At first we used owners.com and forsalebyowner.com to try to save the realtor fees. We did get some hits, then we put it up with a realtor and a ton of people have looked at it. We are under contract it took only 1 1/2 weeks to get a contract after we listed it. Good luck!!

Sassy · Aug 18, 2009

<sigh> Been using an agent for 2.5 years.... this just sucks.

Pekkerwood · Aug 20, 2009

Sassy:

The only thing you want to make sure of is that whichever forsalebyowner type service you use will put your house on the MLS and FMLS. On the listing it can say contact owner.

From earlier posts and your description, I think I live close to you. I have bought and resold over a thousand properties in the last few years. I own a brokerage (only use it for my own purchases and listings) and a title company.

I will help you with any problems/advice you need to manage your sale. I am not an agent or a broker. I will assist you for free.

I suggest that even on your FSBO, you choose the option for the house to be listed on the MLS. I also suggest you pay a "selling agent" commission of 3 to 4%. The selling agent is actually the one bringing the buyer.

I also recommend placing the house on Craigs list, Trulia, etc. There is a free flyer creation service that will post your house on many sites including Craigs list. Its called Postlets. Probably postlets | home.

Good luck and I will help you any way I can.

Sassy · Aug 21, 2009

Pekkerwood, great post! Thanks for the info. It's very helpful. From what I gather on where you live, we are in the state... at least my house is. I moved out of state when I married Everlast.

I was going to offer something to a "selling" agent. I hadn't decide how much yet. I was going to put "agent protected" on my flyer. What do you think?

I'm also thinking about offering as an incentive during negotiations a home warranty. I had some information on one called Home Trust Warranty, but damn if I can't find it.

Thanks for you help... I'm sure I'll be picking your brain for more help later.

marilyn · Aug 21, 2009

pekkerwood

Pekkerwood said:
Sassy:

The only thing you want to make sure of is that whichever forsalebyowner type service you use will put your house on the MLS and FMLS. On the listing it can say contact owner.

From earlier posts and your description, I think I live close to you. I have bought and resold over a thousand properties in the last few years. I own a brokerage (only use it for my own purchases and listings) and a title company.

I will help you with any problems/advice you need to manage your sale. I am not an agent or a broker. I will assist you for free.

I suggest that even on your FSBO, you choose the option for the house to be listed on the MLS. I also suggest you pay a "selling agent" commission of 3 to 4%. The selling agent is actually the one bringing the buyer.

I also recommend placing the house on Craigs list, Trulia, etc. There is a free flyer creation service that will post your house on many sites including Craigs list. Its called Postlets. Probably postlets | home.

Good luck and I will help you any way I can.

that's good stuff..I'm sure she appreciates it, and I appreciate members like you that don't just talk..you are ready to jump in and help. She's waited so long to move this home. Good Luck Sharon!

Pekkerwood · Aug 24, 2009

Sassy said:
Pekkerwood, great post! Thanks for the info. It's very helpful. From what I gather on where you live, we are in the state... at least my house is. I moved out of state when I married Everlast.

I was going to offer something to a "selling" agent. I hadn't decide how much yet. I was going to put "agent protected" on my flyer. What do you think?

I'm also thinking about offering as an incentive during negotiations a home warranty. I had some information on one called Home Trust Warranty, but damn if I can't find it.

Thanks for you help... I'm sure I'll be picking your brain for more help later.

Sassy:

I personally would pay the "selling agent" 4%. The fact is, each month you do not sell you are paying close to 1% in mortgage, taxes, upkeep, etc. Some agents search only for these higher paying listings.

Don't neglect to make the flyer, and more pictures the better. If you would like me to do a market anyalysis, although it is not in my area of expertise, I can pull comps and do a desktop assessment.

Let us never forget that the one primary reason propertyies do not sell, is that they are not priced appropriately for the market they are in. It can be one of those "tough" love kind of things, and is a hard lesson. I've lost a mint not realizing this early enough.

If you would like to get a CMA, pm me with a email address and I will respond with mine.