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FSBO .pdf



Original filename: FSBO.pdf
Title: FSBO 01
Author: Lawrence Roberts

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Sell Your Home

Without a

realtor!
Larry  Roberts,  OC  Housing  News    

Copyright  ©  2012  by  Larry  Roberts  
All  Rights  Reserved  
Published  by  OC  Housing  News  
info@ochousingnews.com  
www.ochousingnews.com  
The  writings  in  this  book  are  the  opinions  of  the  author.  They  are  not  intended  to  provide  you  with  legal  or  
financial  advice,  particularly  with  respect  to  residential  real  estate.  The  information  in  this  book  is  designed  to  
provide  accurate  and  authoritative  information  in  regard  to  the  subject  matter  covered.  It  is  presented  with  the  
understanding  that  Lawrence  Roberts  or  OC  Housing  News  is  not  engaged  in  rendering  legal,  accounting  or  other  
professional  services.  If  legal  advice  or  other  professional  assistance  is  required,  the  services  of  a  competent  
professional  person  should  be  sought.  (From  a  Declaration  of  Principles  jointly  adopted  by  a  Committee  of  the  
American  Bar  Association  and  a  Committee  of  Publishers  and  Associations)  
 

 

 

How  to  Sell  Your  Home  Without  an  Agent  

 

What  Do  Sellers  Want  to  Accomplish?  .............................................................................................................................  6  
Sell  their  home  and  maximize  their  net  gain  ................................................................................................................................  6  
Get  through  the  process  with  a  minimum  of  effort  and  stress  .............................................................................................  6  
Avoid  legal  and  financial  liability  for  problems  with  the  transaction  ...............................................................................  7  
What  prevents  sellers  from  accomplishing  their  goals?  .........................................................................................................  7  
What  are  owner's  options  for  selling  their  property?  ..............................................................................................................  8  
The  Six  Challenges  of  FSBO  ..................................................................................................................................................  9  
Selling  property  is  costly  and  time  consuming  ............................................................................................................................  9  
Marketing  is  difficult  ............................................................................................................................................................................  10  
Negotiation  is  difficult  .........................................................................................................................................................................  10  
Escrow  is  difficult  ..................................................................................................................................................................................  10  
Offers/buyers  tend  to  be  bottom  fishers  (and  FSBOs  are  the  bottom)  ..........................................................................  11  
Buyers  are  difficult  to  find  .................................................................................................................................................................  11  
FSBO  is  a  good  option  ..........................................................................................................................................................................  11  
Cash  Listing  Services  ..........................................................................................................................................................  12  
Cash  Listing  Services  take  cash!  ......................................................................................................................................................  12  
How  much  commission  to  pay?  .......................................................................................................................................................  13  
Seller  is  responsible  for  MLS  marketing  presentation  ..........................................................................................................  13  
Advertising  outside  the  MLS  is  still  the  seller's  responsibility  ..........................................................................................  14  
Cash  Listing  Services  are  a  good  option  ......................................................................................................................................  14  
Full-­‐Service  Brokerage  ......................................................................................................................................................  15  
The  pros  of  using  a  full-­‐service  brokerage  .................................................................................................................................  15  
The  cons  of  using  a  full-­‐service  brokerage  .................................................................................................................................  15  
People  do  not  trust  realtors  ..............................................................................................................................................................  16  
Exposure  off  the  MLS  is  key  ..............................................................................................................................................................  16  
Broker  websites  .....................................................................................................................................................................................  16  
National  real  estate  portals  ...............................................................................................................................................................  17  
What  is  the  best  solution?  ..................................................................................................................................................................  17  
Selecting  an  agent  is  difficult  ............................................................................................................................................................  18  
101  Tips  To  Sell  Your  Own  Home  ...................................................................................................................................  19  
Tip  1:  Before  anything  else,  grab  a  powerhouse  of  knowledge.  ........................................................................................  19  
Tip  2:  Be  a  listener,  and  be  a  GOOD  one  ......................................................................................................................................  19  
Tip  3:  Basic  rule:  don’t  get  locked  out  of  the  market  because  you’ve  overpriced  your  house!  ...........................  20  
Tip  4:  What  are  the  ads  saying?  ......................................................................................................................................................  20  
Tip  5:  Play  detective  .............................................................................................................................................................................  20  
Tip  6:  Read  and  devour  all  that  you  can!  .....................................................................................................................................  20  
Tip  7:  Realistically  speaking,  my  house  is  really  worth…  ....................................................................................................  21  
Tip  8:  Play  the  real  estate  game  seriously.  .................................................................................................................................  21  
Tip  9:  Get  only  enough  to  get  you  started  ...................................................................................................................................  21  
Tip  10:  Good  schools?  But  of  course!  ............................................................................................................................................  22  
Tip  11:  It’s  the  fitness  thing,  you  know.  .......................................................................................................................................  22  
Tip  12:  And  what  about  concerts  and  that  kind  of  thing?  ....................................................................................................  22  
Tip  13:  Will  I  fit  in  the  area?  .............................................................................................................................................................  22  
Tip  14:  Is  there  a  doctor  in  the  house?  .........................................................................................................................................  23  
Tip  15:  How  is  the  transportation  system?  ................................................................................................................................  23  
Tip  16:  No  gossiping  allowed!  ..........................................................................................................................................................  23  
Tip  17:  Help,  my  car’s  been  snowed  in!  .......................................................................................................................................  24  
Tip  18:  Cavities?  .....................................................................................................................................................................................  24  
Tip  19:  Getting  to  know  your  house…for  the  last  time  .........................................................................................................  24  
Tip  20:  Did  you  say  an  in-­‐ground  pool?  .......................................................................................................................................  25  
Tip  21:  Put  romance  back  in  their  lives…  ...................................................................................................................................  25  
Tip  22:  See,  this  garage  door  is  really  simple  to  operate!  ....................................................................................................  25  
Tip  23:  I  never  promised  you  a  rose  garden.  .............................................................................................................................  26  
Tip  24:  You’ll  have  a  roof  over  your  head  for  the  next  25  years.  ......................................................................................  26  
Tip  25:  Wow,  a  home  spa!  ..................................................................................................................................................................  27  
Tip  26:  A  house  that’s  safe  and  sound.  .........................................................................................................................................  27  
info@ochousingnews.com  

 

949.769.1599  

 

 

 

How  to  Sell  Your  Home  Without  an  Agent  

 

Tip  27:  What?  No  hot  water  again?  ................................................................................................................................................  27  
Tip  28:  Someone  forgot  to  look  up  the  ceiling…  ......................................................................................................................  28  
Tip  29:  Why  am  I  selling?  ...................................................................................................................................................................  28  
Tip  30:  Not  the  time  to  be  fickle…  ..................................................................................................................................................  29  
Tip  31:  Nostalgia  is  a  strong  feeling  ..............................................................................................................................................  29  
Tip  32:  I’m  in  a  bind…  ..........................................................................................................................................................................  29  
Tip  33:  My  home  isn’t  a  hotel!  ..........................................................................................................................................................  30  
Tip  34:  Listen  up,  but  stay  with  your  convictions!  ..................................................................................................................  30  
Tip  35:  I’m  selling,  no  matter  what.  ...............................................................................................................................................  30  
Tip  36:  Even  well-­‐meaning  friends  can  derail  you!  ................................................................................................................  30  
Tip  37:  Time  to  go  “pro”  .....................................................................................................................................................................  31  
Tip  38:  The  radon  test?  .......................................................................................................................................................................  31  
Tip  39:  This  isn’t  a  multiple  choice  test.  ......................................................................................................................................  31  
Tip  40:  The  well’s  run  dry.  .................................................................................................................................................................  32  
Tip  41:  What’s  that  smell?  .................................................................................................................................................................  32  
Tip  42:  Actually,  now  that  you  ask…  .............................................................................................................................................  32  
Tip  43:  Show  that  you  mean  business!  .........................................................................................................................................  32  
Tip  44:  If  I  were  buying  this  house…  .............................................................................................................................................  33  
Tip  45:  Is  there  an  expert  around?  .................................................................................................................................................  33  
Tip  46:  It’s  the  law,  sir.  ........................................................................................................................................................................  33  
Tip  47:  You  and  I  are  different.  ........................................................................................................................................................  33  
Tip  48:  Did  you  inherit  these  doorknobs  from  your  grandmother?  ...............................................................................  34  
Tip  49:  That  noise  is  driving  me  nuts!  ..........................................................................................................................................  34  
Tip  50:  Is  this  door  going  to  fall  on  me?  .......................................................................................................................................  34  
Tip  51:  So,  how  many  insects  do  you  have  here?  ....................................................................................................................  35  
Tip  52:  For  you  or  the  buyer?  ...........................................................................................................................................................  35  
Tip  53:  Hold  your  horses!  ..................................................................................................................................................................  35  
Tip  54:  I  wish  you  hadn’t  done  that…  ...........................................................................................................................................  35  
Tip  55:  Bring  in  a  contractor.  ...........................................................................................................................................................  36  
Tip  56:  Get  the  word  out!  ...................................................................................................................................................................  36  
Tip  57:  Reach  out  far  and  wide!  ......................................................................................................................................................  37  
Tip  58:  Word  of  mouth  is  just  as  powerful  as  advertising  ...................................................................................................  37  
Tip  59:  Can  the  company  help  me?  ................................................................................................................................................  38  
Tip  60:  Ah,  the  old  reliable…the  bulletin  board!  ......................................................................................................................  38  
Tip  61:  Am  I  missing  the  sugar?  ......................................................................................................................................................  38  
Tip  62:  Have  you  been  negligent?  ..................................................................................................................................................  39  
Tip  63:  How  much  do  I  want?  ..........................................................................................................................................................  39  
Tip  64:  Will  the  buyer  ask  for  flexibility?  ....................................................................................................................................  39  
Tip  65:  Is  this  a  good  time  to  sell?  ..................................................................................................................................................  39  
Tip  66:  The  truth  will  come  out…  ...................................................................................................................................................  40  
Tip  67:  Umm,  how  will  I  word  this  ad?  ........................................................................................................................................  40  
Tip  68:  Can  you  just  state  the  bottom  line  please?  .................................................................................................................  41  
Tip  69:  Do  your  thinking  before  picking  up  that  phone  .......................................................................................................  41  
Tip  70:  Wait  and  see.  ............................................................................................................................................................................  41  
Tip  71:  Where  should  I  publish?  .....................................................................................................................................................  42  
Tip  72:  One  is  enough.  .........................................................................................................................................................................  42  
Tip  73:  Cyberspace?  Do  I  really  want  Martians  buying  my  house?  .................................................................................  42  
Tip  74:  Do  you  want  to  write  a  house  story?  Try  the  home  section,  not  the  classified  ads  ..................................  43  
Tip  75:  What  should  I  say?  ................................................................................................................................................................  43  
Tip  76:  This  is  EXACTLY  how  I  want  it  .........................................................................................................................................  43  
Tip  77:  Screen  calls.  ..............................................................................................................................................................................  44  
Tip  78:  Add  “Or  best  reasonable  offer”  ........................................................................................................................................  44  
Tip  79:  It’s  my  favorite  day  of  the  week!  .....................................................................................................................................  45  
Tip  80:  Would  you  repeat  that  please?  ........................................................................................................................................  45  
Tip  81:  How  do  I  sound?  .....................................................................................................................................................................  46  
Tip  82:  Take  it  down  ............................................................................................................................................................................  46  

info@ochousingnews.com  

 

949.769.1599  

 

 

 

How  to  Sell  Your  Home  Without  an  Agent  

 

Tip  83:  Are  you  a  (phone)  grouch?  ................................................................................................................................................  46  
Tip  84:  Let’s  get  serious  here.  ..........................................................................................................................................................  46  
Tip  85:  It  bothers  me…  ........................................................................................................................................................................  47  
Tip  86:  Dust  collectors.  .......................................................................................................................................................................  47  
Tip  87:  Surround  yourself  with  beauty.  .......................................................................................................................................  47  
Tip  88:  I  knew  you’d  ask  that!  ..........................................................................................................................................................  47  
Tip  89:  Children  OK,  animals  NO!  ...................................................................................................................................................  48  
Tip  90:  Who’s  that  standing  by  the  door?  ...................................................................................................................................  48  
Tip  91:  Can  we  talk  about  your  price?  ..........................................................................................................................................  48  
Tip  92:  It  doesn’t  hurt  to  be  honest.  ..............................................................................................................................................  49  
Tip  93:  My  home  is  your  home  now  ..............................................................................................................................................  49  
Tip  94:  How  quickly  will  he  settle  this  matter  for  me?  .........................................................................................................  50  
Tip  95:  This  covers  just  about  everything  ..................................................................................................................................  50  
Tip  96:  Can  we  change  this  a  little  bit?  .........................................................................................................................................  50  
Tip  97:  About  that  money…  ..............................................................................................................................................................  51  
Tip  98:  Crossing  the  t’s  and  dotting  the  i’s…  ..............................................................................................................................  52  
Tip  99:  What,  you’ve  changed  your  mind?  .................................................................................................................................  52  
Tip  100:  You’re  willing  to  pay  more  for  my  house?  ...............................................................................................................  52  
Tip  101:  Weeding  out  the  curious.  .................................................................................................................................................  53  

info@ochousingnews.com  

 

949.769.1599  

 


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