r/FirstTimeHomeSeller

▲ 14 r/FirstTimeHomeSeller+2 crossposts

Why Selling Your Home Yourself Makes More Sense Today Than Ever Before

For a long time, selling a home without an agent was difficult for one very simple reason: agents controlled most of the tools needed to sell a house.

They controlled access to buyers, listing information, market data, advertising and much of the process.

That's simply not as true anymore.

Look at what's happening in the real estate industry right now. Brokerages, MLS organizations, and other industry players are fighting over how listings can be marketed, where they can appear, and who gets access to them. The latest CRMLS/Compass dispute is literally about the rules governing the public marketing of listings outside the MLS. 

Meanwhile, homeowners have more ability than ever to reach buyers directly.

Buyers are online. They're on real estate websites, Google, Facebook, Instagram, Reddit, neighborhood groups, and other platforms. A homeowner can take great photos, create a professional-looking listing, put up a yard sign with a QR code, promote an open house, share the property through social media and communicate directly with interested buyers.

Much of that costs little or nothing.

At the same time, the dollar cost of traditional commissions has become enormous.

Even if commission percentages haven't increased, home prices certainly have. A percentage that may have been manageable when a house was $200,000 or $300,000 becomes tens of thousands of dollars when you apply that same percentage to a $500,000, $750,000, or $1 million property.

That doesn't mean agents don't provide value. Good agents absolutely can.

But homeowners should ask a different question:

Which services do I actually need, and what are those services worth to me?

Photography? You can hire a photographer.

Staging? Hire a stager or consultant.

Marketing? There are countless free and inexpensive ways to market a property.

Pricing? There is more market information available to consumers than ever before, along with professionals who can provide valuations when needed.

Legal work and contracts? I would use a real estate attorney whether I had an agent or not. An attorney's job is to protect your legal interests, and their compensation isn't dependent upon the sale closing.

Even some services that sellers may not feel comfortable doing themselves can be purchased à la carte. You don't have to bundle everything together and pay a percentage of your home's value for it all.

And here's the part of FSBO that I think gets overlooked:

Trying FSBO doesn't have to be permanent.

Give yourself 30 days.

Price the home properly. Take good photos. Put together a real marketing plan. Make the property easy to see. Respond quickly to inquiries. Hold an open house. Get the listing in front of as many potential buyers as you reasonably can.

If it works, you may save tens of thousands of dollars.

If after 30 days you decide it's more work than you expected, or you're not getting the results you need, you can still interview agents and hire one.

You haven't given up that option.

I don't think selling by owner is right for every homeowner. Some people don't have the time, interest, or temperament for it, and some will simply prefer to hire someone else.

But I do think we're at a point where homeowners should stop assuming that hiring an agent is automatically Step 1.

Today, Step 1 can be asking: Can I do this myself?

With the technology, information, professional services, and direct access to buyers that homeowners have today, I think there's a stronger case for trying FSBO now than at any other time.

I'm curious what other FSBO sellers think. What part of selling yourself has been easier than you expected, and what part has been harder?

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u/Ykohn — 6 days ago
▲ 7 r/FirstTimeHomeSeller+2 crossposts

What's Really Stopping More People From Selling Their Homes FSBO?

With home prices as high as they are, the potential savings from selling without an agent can be enormous. And with all the tools and resources available today, it's easier than ever to market a home yourself and get professional help with the parts you're not comfortable handling.

Yet most people still assume they need an agent to sell their home.

I'm genuinely curious why. Is it the fear of pricing it wrong? Not knowing how to find buyers? Dealing with showings, negotiations, paperwork? Or is it simply that people don't realize how much of this they can actually do themselves?

And for those who have sold FSBO, I'd really like to hear about your experience. Was it easier than you expected? What surprised you? Would you do it again?

I started this sub because I think homeowners should know they have options. I'm not suggesting agents don't provide value, but I do believe selling on your own is a realistic option for a lot more people than actually try it.

I'd love to see this become a place where people share their experiences, ask questions, and help each other figure things out. The successes are great, but the challenges and mistakes are probably just as valuable.

So whether you've sold FSBO, are in the middle of it, or are just considering it, what's been your biggest concern or biggest surprise?

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u/Ykohn — 7 days ago

First time selling a house as-is—what was your experience?

I’m getting ready to sell a house for the first time, and I’m planning to sell it as-is. I’d love to hear from people who’ve done that. What was the process like? Did buyers still ask for repairs or credits after the inspection? What do you wish you’d known going in?

The house is in my name on the deed, though my ex may still be on the mortgage. I’m especially interested in hearing about other people’s experiences selling under similar circumstances.

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u/blackwingedangel0121 — 8 days ago
▲ 18 r/FirstTimeHomeSeller+1 crossposts

Seller Looking for Reassurance

Put our house on the market on 9/10 after we moved out and now wishing we had listed over the summer. In the Philly suburbs in a great school district but on a busy road. We have already lowered the price by 20K and our realtor is telling me to me patient. But I'm so stressed about having the house still on the market through the winter. Any advice or reassurance? The market seems terrible right now.

Edited to add: It's a 4BR/2BA and is 2000sq ft w/ a 1/2 acre lot for folks asking for listing info.

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u/MountainWood41 — 10 days ago
▲ 0 r/FirstTimeHomeSeller+1 crossposts

First time seller

Please don’t come at me, it’s just a question to hear opinions on whether I made a good choice from people who know a bit more about property than me.

My 2x1 (2 parking and a big gated side for a boat or whatever. I bought it 3 years ago for $460k

I’m in a wa tourist town that is greatly over populated. Especially dry season but with the rates and coming up the market has slowed like most places. After a to and fro, I accepted $585.

So you think that’s a good deal? Should I have stalled? I know no one has a crystal ball. But my RE reckons it’s good and that if I’d waited until next dry season it could only be worth $500k and I’d be spewin.

It’s been up a month with 9 views. My neighbour got $590k with 18 people on first home open. To give an idea of where we are. My unit is substantially nicer than hers with Renos, paint, flooring etc. which is why at the time he started me $615.

My mortgage is currently at $426k and I have no CGT. I’m not planning to buy again, but spend time with family and travel a little. So most of the money will be in a HISA.

A yes good or no try harder is enough. I’d rather not have mean comments please. 🙏🏻

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u/You-are-a-peanut — 10 days ago