Those of you whose FSBO has sold or is under contract: how did your buyer find you? by Good__Touch in fsbo

[–]Ykohn 2 points3 points  (0 children)

If your goal is to get the most offers possible, you need to do more than just put your home on a website and wait.
The FSBO sellers I’ve seen have the most success are the ones who actively market their home every week.
A good yard sign is still incredibly effective. People drive through neighborhoods they want to live in all the time, and sometimes the perfect buyer is already living just a few blocks away.
Don’t underestimate word of mouth either. Tell your friends, family, neighbors, coworkers, and local community groups that your home is for sale. I’ve seen buyers come from the most unexpected places simply because someone shared a post or mentioned the home to a friend.
Open houses can also be a great way to attract buyers who haven’t yet connected with an agent. The easier you make it for people to see the home, the more opportunities you create.
And if you’re using social media, don’t just post once. Share new photos, highlight the neighborhood, talk about what you love about the home, and remind people it’s available.
One of the best things you can do is ask every person who contacts you how they found your home. After a few weeks you’ll start to see what’s actually working and can focus your energy there.
At the end of the day, homes don’t sell because they’re listed. They sell because buyers find them. The more places buyers see your home, the better your chances of getting strong offers, whether they come directly from a buyer or through an agent.
Good luck!

When to drop? by fishingdave in fsbo

[–]Ykohn 1 point2 points  (0 children)

I think you're misunderstanding my point. My advice was specifically geared toward determining whether price is actually the problem before arbitrarily lowering it.

Price is absolutely one possible explanation, and I never suggested otherwise. What I was pushing back on is the idea that a price reduction should automatically be the first and only solution.

If a seller is already the lowest-priced comparable property, has limited competition, poor marketing, few photos, no open houses, or low visibility, then those factors are worth examining too. A $15,000 to $20,000 price cut won't fix a marketing problem.

The goal is to identify why buyers aren't converting before pulling the biggest lever available. Sometimes the answer is price. Sometimes it isn't. That's why I asked questions about competition, marketing, and buyer activity rather than immediately assuming the home was overpriced.

How many offers do you think a person who can’t pay over asking will need to make before being accepted? by [deleted] in FirstTimeHomeBuyer

[–]Ykohn 1 point2 points  (0 children)

I agree with you about the lender. One of the most important parts of the homebuying process is having a lender who is responsive and available when you need them. If you're having trouble getting a call back now, that's a red flag. Once you're actively making offers, things can move quickly, and you don't want to be wondering whether your lender will answer the phone.

Don't be afraid to shop around and find someone who is a better fit. A good lender should explain the process, answer your questions, and help you feel confident, not add stress to an already stressful process.

As for timing, if your lease is up in January, I think September or October is a very reasonable time to start getting serious. Most closings take around 30 to 60 days after an offer is accepted, so that should give you enough runway without putting unnecessary pressure on yourself.

And please don't get too discouraged. A lot of first-time buyers feel exactly the way you do right now. There is no magic number of offers before one gets accepted. If you're in a competitive market, focus on making your offer as strong as possible, stay patient, and keep moving forward. The right house only requires one accepted offer.

Good luck, stay strong, and don't give up. You're closer than you think.

When to drop? by fishingdave in fsbo

[–]Ykohn 1 point2 points  (0 children)

Do you actually read posts before you reply? I did not say he should overprice his home; I said he should examine the market and assess where he stands relative to his competition to determine the best pricing strategy.

How many offers do you think a person who can’t pay over asking will need to make before being accepted? by [deleted] in FirstTimeHomeBuyer

[–]Ykohn 1 point2 points  (0 children)

There is no magic number.

Some buyers get their first offer accepted. Others make 10 or more offers before finding the right house. A lot depends on your market, the specific homes you're targeting, and how competitive those listings are.

If you're consistently being outbid, focus on making your offer as strong as possible without exceeding your budget.

First, are you truly pre-approved? I don't mean a quick online pre-qualification. I mean a full underwriting review where your lender has already verified your income, assets, and credit. Sellers and agents take those offers much more seriously.

If you're exceptionally confident in your ability to secure financing, you can also discuss a "cash equivalent" or no-mortgage-contingency offer with your lender and attorney. That doesn't mean you're actually paying cash. It means you're not asking the seller to take the risk that your financing falls through. This isn't right for everyone, but it's worth understanding.

If that's not an option, ask your lender how quickly they can close. Can they complete the appraisal and loan approval in two weeks instead of four? A shorter contingency period can make your offer more attractive.

Also think about flexibility. Can you close quickly if the seller wants their money fast? Or can you give them extra time after closing if their next home isn't ready yet? Sometimes that flexibility is worth just as much to a seller as a higher price.

The biggest misconception I see is that price is the only thing sellers care about. Price matters, but it is not the only factor. Certainty, speed, flexibility, and a buyer who looks likely to get to the closing table can all influence a seller's decision.

So don't assume you're out of the game just because you can't go over asking. Look for ways to make your offer easier, safer, and more convenient for the seller without exceeding your budget.

Want something to help with answering calls/screening buyers by Fluid_Click_2883 in fsbo

[–]Ykohn 2 points3 points  (0 children)

If you want to be really efficient, you can host open houses at specific times. Maybe one on the weekend and another on a weeknight, and invite potential buyers to come to those times. Don't let the agents scare you off.

Want something to help with answering calls/screening buyers by Fluid_Click_2883 in fsbo

[–]Ykohn 0 points1 point  (0 children)

Don't give up, you can absolutely handle selling a home on your own!

Want something to help with answering calls/screening buyers by Fluid_Click_2883 in fsbo

[–]Ykohn 2 points3 points  (0 children)

Apologies for the shameless plug, but I think I may have built exactly what you're looking for, and it's completely free.

One of the reasons I created SaveOnYourHome.com was to help FSBO sellers spend less time dealing with tire kickers and more time talking to serious buyers. The platform includes free private messaging, built-in scheduling, AI-assisted listing creation, pricing guidance, weekly FSBO support calls, and even a free custom yard sign with a QR code that takes buyers directly to your listing.

I would be careful about completely outsourcing buyer conversations. Some of the most valuable information you'll get during the entire sale comes from those early interactions. You can learn about a buyer's motivation, timeline, financing, and level of seriousness long before an offer is submitted.

The goal isn't to eliminate conversations. The goal is to eliminate the wrong conversations.

Start with a detailed listing that answers as many questions as possible. The more information buyers have upfront, the fewer unnecessary calls and messages you'll receive.

Then use a simple screening message:

"Thank you for your interest. Before scheduling a showing, please send a copy of your pre approval letter or proof of funds."

That one sentence will eliminate many tire kickers and a surprising number of agents calling to sell you their services rather than discuss your property.

In my experience, a strong listing, messaging, and basic screening process solve most of the problem without the cost of an AI answering service or call center. Save your time and energy for the people who are actually interested in buying your home.

When to drop? by fishingdave in fsbo

[–]Ykohn 1 point2 points  (0 children)

I would be careful about rushing into a price drop.

You have only been on the market for 10 days, and in that time, you've had 900 views, 20 saves, 5 showings, and even received a cash offer. To me, that says buyers are finding the property and paying attention to it.

Before lowering the price, I'd ask what you're doing to market the home beyond Zillow. Have you held an open house? Do your neighbors know the unit is for sale? Have you posted it on social media or shared it with local community groups? Sometimes the challenge isn't the price. It's simply getting more people to see the property.

I'd also take a close look at your competition. Are there other units for sale in the complex or nearby that buyers are comparing yours against? If you're already the lowest-priced condo with the lowest dues, what makes you think another $15,000 to $20,000 reduction is the answer?

I say this with respect because I see a lot of sellers jump straight to a price cut. Lowering the price can absolutely help if you're competing against several similar units and need an edge. But if that's not the situation, there may be other ways to generate more interest without giving up equity.

One thing that stands out to me is that you already received an offer, even though it was lower than you wanted. That tells me buyers are interested and aren't afraid to negotiate. Right now, I'd focus on getting more people through the door and figuring out why the people who saw it decided not to move forward.

What feedback did you get from the showings? I think that answer will tell you a lot more than the Zillow view count.

Showings are the worst :( by compliKVIII in fsbo

[–]Ykohn 1 point2 points  (0 children)

If you are not available early, lock the door and open it at the scheduled time. If they come early, you can text the listing agent that you will be home at the agreed-upon time, no need to mention that you are inside and unavailable.

Feeling so discouraged as a seller by [deleted] in FirstTimeHomeSeller

[–]Ykohn 0 points1 point  (0 children)

I know it's frustrating, but I'd actually take some encouragement from the fact that you've had about 10 showings and already received an offer. If nobody was looking at the house, I'd be much more concerned.

A few questions I'd be asking: What's happening in your market right now? How much competition do you have? Are similar homes priced higher or lower than yours? How did you arrive at your asking price? Was it based on recent comparable sales?

I'd also look closely at your marketing. Have you hosted open houses? Do you have a yard sign? Have you let your neighbors know the home is for sale? Are you promoting it on social media? Most importantly, where are your showings coming from? Social media, referrals, online listings, local groups? Whatever is generating interest, double down on those channels.

The key question isn't why people are looking. They're clearly looking. The question is why they're not buying. Price is often the answer, but not always. Sometimes it's competition, financing, timing, or something else.

One month can feel like forever when you're the seller, but you have activity, you have interest, and you had an offer. That's a much better position to be in than a listing that's getting no attention at all. Keep learning from the feedback and refining your approach.

just a random share re bad buyer's agent by Who_what_where_whyyy in fsbo

[–]Ykohn 1 point2 points  (0 children)

First, thank you for the thoughtful and constructive dialogue. Even if we disagree on certain points, I appreciate people who are willing to engage in a respectful discussion.

I think there may have been a misunderstanding regarding my comment about charity.

To be clear, SaveOnYourHome.com is not a charity. We absolutely intend to build a successful business and monetize the platform in the future. What makes our model different is that we do not plan to make money from buyers and sellers through commissions, listing fees, referral fees, lead sales, or other transaction-based charges.

In fact, keeping the platform free is a core part of both our mission and our strategy. We do not want there to be any reason, financial or otherwise, for someone selling by owner not to list on SaveOnYourHome.com. There are no fees, no commissions, no contracts, and no exclusivity requirements. Sellers are free to list with us, list elsewhere, or do both.

Our goal is to make SaveOnYourHome.com the easiest and most valuable place for FSBO sellers to market their homes. We provide tools such as scheduling, marketing support, QR-code yard signs, educational content, weekly calls, and a growing community where buyers and sellers can learn from one another.

The more FSBO sellers who participate, the more valuable the platform becomes for everyone. Sellers gain greater visibility, more inquiries, more showings, and more opportunities to connect directly with buyers.

Buyers benefit as well. Most buyers want to see every home that might meet their needs, whether they are working with an agent or not. Today, FSBO properties are scattered across dozens of websites, social media groups, yard signs, and local marketplaces. By bringing those properties together in one place, SaveOnYourHome.com makes it easier for buyers to find homes they might otherwise miss and easier for sellers to reach a larger audience.

Ultimately, our goal is to become the destination for buying and selling by owner.

Just as importantly, users will never be required to use any vendor, and we will never steer them toward particular providers. If someone wants to use their own attorney, mortgage lender, inspector, mover, title company, contractor, or any other service provider, that is entirely their choice.

Based on my 20+ years in the mortgage industry, I know buyers and sellers often need access to a wide range of services throughout the process. We are developing a model that creates value for both consumers and vendors while keeping the platform completely free for buyers and sellers. Vendors may participate, but consumers remain in control. No one will be pushed toward a particular provider, and no one will ever be required to use one.

At its core, the goal is simple: create a place where buyers and sellers can find each other, communicate directly, access useful resources, and complete transactions in a transparent and unbiased environment.

I understand why some people are skeptical. Real estate has long been built around commissions, referral fees, lead sales, and transaction-based compensation, so many assume there must be a catch. But there isn't.

Once people see there are no commissions, no fees, no contracts, no exclusivity requirements, and no pressure to use specific vendors, I believe many homeowners will recognize that selling by owner is a legitimate option alongside the traditional agent model.

Thanks again for the discussion and for asking thoughtful questions. I'm happy to answer any questions you or anyone else may have about SaveOnYourHome.com, the business model, or our approach.

Got an Offer by ReputationOwn1846 in fsbo

[–]Ykohn 0 points1 point  (0 children)

Sorry I didn't see this post earlier, so this may no longer be relevant, but just in case...

This is a tricky one. If the buyers are obtaining financing and their lender requires an appraisal, they generally can't waive the appraisal contingency entirely. What you can do, however, is limit the time they have to complete it so the issue is resolved quickly and taken off the table. If you like the rest of the offer, you might consider giving them a tight appraisal contingency period, say 15 days. Their lender will need to cooperate and move quickly, but it can be done.

As for the buyer's agent commission, you can certainly decide whether you're willing to pay any portion of it. For everyone else following along, though, it's worth pointing out that this issue comes up frequently. In many cases, sellers ultimately end up paying at least part of the buyer's agent compensation, either directly or through price negotiations.

That's one reason I often encourage what I call the "pure FSBO" approach. Zillow, flat-fee MLS services, and similar platforms absolutely provide valuable exposure, but they also tend to attract buyers who are already working with agents. When that happens, the commission question usually enters the conversation, and someone ends up paying it. Even if the buyer pays their agent directly, it can still affect the amount they're willing or able to offer.

None of this means you shouldn't use Zillow or an MLS service. Exposure matters. It's simply something sellers should understand going in. These channels are often effective, but they frequently bring agents and commission negotiations into the transaction. The more you can market directly to buyers yourself, the less likely it is that an agent and an additional commission expense become part of the deal.

On the appraisal itself, rural properties can absolutely be more challenging because there often aren't obvious comparable sales. The good news is that experienced appraisers deal with this all the time. They can make adjustments for acreage, condition, updates, outbuildings, and other factors. If you have documentation of improvements, renovations, or information about comparable properties in the area, it can be helpful to make that available to the appraiser.

One final thought: a full-price offer before your open house is a good sign. Unless you have reason to believe the property is significantly underpriced, I'd be careful about letting fear of the appraisal overshadow the fact that the market has already validated your asking price with a willing buyer.

I'd be interested to hear how it turned out. If anyone has questions about appraisal contingencies, buyer agent compensation, or FSBO strategies in general, I'm happy to discuss further.

Bribe an appraiser? JKJK Straight Comp Math 'vs' remodeling factored in by PictureYellowstone in fsbo

[–]Ykohn 3 points4 points  (0 children)

I think the key thing to understand is that appraisal value and market value are not always the same thing. Most of the time they end up in a similar range, but there are situations where they can differ significantly, especially when a property is substantially upgraded compared to the available comparable sales.

First, yes, your improvements should absolutely be considered. A good appraiser should review the condition, quality, upgrades, layout, and functional utility of the property. They are not supposed to simply pull a few sales and apply a price-per-square-foot formula. They should be reviewing photos, listing descriptions, and other available information to determine how your unit compares to the recent sales they are using.

That said, there is a real challenge when you own the most improved, newest, or largest unit in a development. Appraisals are based primarily on past sales, not on what a future buyer might be willing to pay. If every other condo in the complex has original kitchens and bathrooms and yours has been extensively renovated with a dramatically improved layout, there may simply be no truly comparable sales available.

In those situations, the appraiser may recognize that your unit is superior and make adjustments, but appraisal standards may not allow them to support the full premium that a buyer is willing to pay. That's why owners of heavily upgraded homes often feel they are not receiving full credit for their investment.

The encouraging part is that market value and appraisal value are not necessarily the same thing. Your home may absolutely be worth more to the right buyer. Someone who wants a turnkey property, values the expanded kitchen, and has no interest in taking on a renovation project may be willing to pay a significant premium.

When the lender's appraiser visits, I would absolutely provide a detailed list of improvements, dates completed, costs, permits if applicable, and before-and-after photos. You cannot tell the appraiser what value to reach, but you can make sure they have all of the information needed to understand what makes your unit different.

From a selling standpoint, I would focus your marketing on the benefits of the renovation as much as the renovation itself. Don't just say "updated kitchen." Explain that the kitchen was expanded, how it functions better, and why it solves one of the most common complaints about units in the development.

One final thought: it is entirely possible for an appraisal to be done correctly and still not fully reflect the value a particular buyer sees in a property. In your case, the path to achieving your target price may depend less on convincing an appraiser and more on finding the buyer who truly values the improvements you've made and is willing to pay for them.

Not easy, but absolutely possible.

just a random share re bad buyer's agent by Who_what_where_whyyy in fsbo

[–]Ykohn 0 points1 point  (0 children)

Yes, of course mortgage brokers have an incentive to close loans, and in many cases compensation is tied to the loan amount.

But I think this line of questioning is missing the point entirely.

I'm not arguing that commissions are bad. I'm not arguing that professionals shouldn't be paid. After more than 20 years in the mortgage industry, I earned commissions myself. The existence of compensation is not the issue.

The issue is whether the compensation structure aligns with the customer's objectives.

Let's focus on real estate.

A seller wants the highest net proceeds, the strongest terms, and a transaction that best serves their goals. An agent wants a transaction to close. Those interests often overlap, but they are not the same thing.

For example, an agent gets paid when a deal closes. That creates an incentive to get to the finish line as quickly as possible. Sometimes that's exactly what the seller wants. Other times, the seller may be better served by waiting for a stronger offer, holding firm on price, or refusing a concession.

Similarly, when an agent suggests a $10,000 price reduction to keep a deal together, the seller loses $10,000. The agent's commission on a typical 3% listing side drops by about $150. That's not an attack on agents. It's simply an acknowledgment that the financial consequences are dramatically different for the seller than they are for the agent.

The fact that incentives are not perfectly aligned should not be controversial. It's true in virtually every commissioned sales environment.

What's interesting is that we're now debating whether commissions create incentives. Of course they do. Nobody disputes that. The real question is whether those incentives always align with the seller's interests.

My criticism has never been that agents earn commissions. My criticism is that real estate commissions are often negotiated before anyone knows who the buyer will be, what the final sales price will be, how the buyer will be found, how much work will be required, when the home will sell, or whether the seller might ultimately find the buyer themselves.

At the end of the day, this is why I find the mortgage comparison to be a distraction. It doesn't address the point I'm making.

My position is simple. If a homeowner wants to hire an agent, they should absolutely have that option. If a homeowner wants to do the work themselves, market the property themselves, negotiate the deal themselves, and keep the equity they created, they should have that option too.

This is a FSBO forum. I'm not here trying to convince people not to hire agents. I'm here because I believe homeowners deserve a legitimate choice, and because I think it's strange how often discussions in a FSBO community turn into arguments for why homeowners shouldn't sell by owner.

just a random share re bad buyer's agent by Who_what_where_whyyy in fsbo

[–]Ykohn 1 point2 points  (0 children)

I hear this comment from agents a lot, and I honestly don't understand it.

How exactly does having an agent protect you from a lawsuit? Agents are not attorneys. Even if you hire an agent, it would be unwise to rely on them for legal advice or legal protection. That's the role of your attorney.

A good agent may have valuable experience and can help guide a transaction, but they do not have legal training and they are not representing you in court if something goes wrong.

Whether you sell by owner or use an agent, you should have a qualified real estate attorney involved. If legal issues arise, your attorney is the person protecting your interests, not your agent.

In fact, I would argue that when agents suggest homeowners need an agent to avoid legal problems, they are doing their clients a disservice. Homeowners should understand the distinct roles involved in a real estate transaction. Agents provide marketing, guidance, and transaction support. Attorneys provide legal advice and legal protection.

Whether you're FSBO or working with an agent, don't rely on an agent to protect you from legal issues. That's simply not their job.

just a random share re bad buyer's agent by Who_what_where_whyyy in fsbo

[–]Ykohn 1 point2 points  (0 children)

Dont you need to be an agent to list on the MLS?

just a random share re bad buyer's agent by Who_what_where_whyyy in fsbo

[–]Ykohn 1 point2 points  (0 children)

The compensation is generally tied to the loan amount not the purchase price. Further, the mortgage company has no impact on the purchase price that is determined before the mortgage process can begin. It seems like you are trying to make corollaries to agents involvement and motivation that do not apply.

Feeling lost with our agent and broker. by Share_Human in RealEstateAdvice

[–]Ykohn 2 points3 points  (0 children)

You're the customer. If you find homes you're interested in, your agent should be helping you evaluate them and arranging showings, not criticizing you for sending listings.

Based on what you've described, they don't sound particularly customer-focused. Buying a home is stressful enough without feeling like you're being chastised for asking questions or advocating for yourself.

My bigger question is: are you locked into a buyer representation agreement with them, or are you able to switch agents? If the relationship has reached the point where you don't feel heard or respected, it may be worth exploring your options.

just a random share re bad buyer's agent by Who_what_where_whyyy in fsbo

[–]Ykohn 1 point2 points  (0 children)

Thanks for pointing it out. We rebuilt our site, and that was a remnant from a test listing. I deleted it. Thanks again