[IowaHawkeyeChief]

Originally Posted by bobbything

Maybe someone answered this already because I didn’t read all the way through but I can give you my experience trying to go FSBO...

Since 2012 we have bought and sold 4 houses. Most recently we are in the middle of selling one now (currently under contract). We tried to go FSBO for all the reasons the OP stated. 6% commission is absurd for the amount of work they do. All the paperwork you sign is stupid and basically just protects the agents. We had purchased this house without an agent (we flipped it) so we knew what to do. It’s not difficult at all. However...

We grossly underestimated two things: (1) Price. We listed FSBO at $330k. (2) Exposure. Our house was up FSBO for three days and the ONLY calls we got were from agents, without buyers, wanting the listing for themselves.

After three days of taking in at least 50 calls from money-grubbing agents, we called a friend (who is an agent) and had him list the house. A few things followed...

(1) He raised the price from $330 to $345. He agreed to drop his commission to 2%.

(2) 24 hours later we had three offers, two of them all cash, for $10k over asking.

Now, this isn’t to say that FSBO is impossible but I think agents are a bit of a necessary evil. They have the MLS at their disposal, an office full of other agents for which to promote their house (we found one before it went on market thru our agent because someone in his office had the listing, so we got a jump on it), and do have a better understanding of how to price a house.

I say to give FSBO a go and see what you think. It’s worth a shot. But be careful about leaving money on the table.

Edit: Also, there are a TON of horrible agents out there. Probably more bad ones than good ones. But a good one will steer you right. All the stuff people are bitching about (resolution costs, kickbacks at closing, etc) a good agent will give you good advice. Also, with experience comes education. You’ll get a good education selling this house and learn from it.

Honestly I think making sure you have a good agent warrants (to some extent) their costs and actual existence. The industry is very incestuous and it’s dofficult to get exposure without an agent. And that sucks.

Where did you list the house for sale?... That doesn't make sense based on the eventual selling price.