Special offer

How many FSBO Sellers does it take to sell a home?

By
Real Estate Broker/Owner with Godzyk Real Estate Services NH License 033394

It was not a trick question when I had to determine how many For Sale By Owner sellers it would take to sell a home. As I was looking to find more homes for buyers in the In the Manchester NH area, I came across a home  home in the neighboring town. They would not sell though, unless the buyer purchased the 2 neighbors homes also listed as a FSBO.

 

Wait, What? Yes the 3 sellers teamed up trying to sell their homes as a package. Although this is often seen in where the land can be re-purposed into a commercial project, this was residential and would remain that way.

 

A few attempts, calls, letters and stopping by were all ignored by the sellers who sought to do it themselves without any agents. A few months later and a call out of the blue to be able to meet with one of the sellers. The first goal was to get answers why all 3 homes had to be sold together. In short the owner of the worst of the 3 homes, talked the others into it. A partnership where they would split the proceeds of the sale 3 ways evenly.

 

What was puzzling is the house i was in was twice the size and like brand new. It was worth far more than than house #3. House #2 was not far behind in size and condition. House #3 a smaller home, with peeling paint and a cluttered yard was out classed by the other 2 homes.

 

The goal was to relay this information without offending the sellers. To show him what his house is worth. To show him a buyer would be far more interested in buying his home without being made to buy all 3. The seller was beyond happy to see what his house was worth and what the most probable sales price would be. He could not believe under the 3 way agreement he was getting so much less. 

 

The seller already had second thoughts as his friends, co workers and even family had given him a good amount of grief he said. It was his co worker who convinced him to call me. He gave me the name and I knew them right away. I sold their home a couple of years back. They were really nice people and i guess they loved me giving me a glorious review.

 

 

The seller of this home wondered if I should talk to the other 2 sellers. Indeed I would, but before doing so, I wanted to assist him in getting his home listed correct and and on the way to a sale. After we signed all the docs he walked me over to house #2. The couple was happy to meet me and also wants to list, but in June when school is out. We signed docs on the spot using June as a start to the showing period. Lastly we went to home #3. The inside of the home was worse than the outside and that is not saying much. He was mad his neighbors bailed on their 3 way plan. He only wanted to sell himself. The neighbors shook their heads and walked out with me.

 

 

The MOST IMPORTANT message is to share with every consumer that my philosophy is simple, provide more personal and professional service to guide clients through each step of the buying or selling process. All Agents are not created equal and every buyer or seller should take the time to hire the BEST not just the biggest. Those that hire me, find a dedication like no other.

 

 

To CONTACT Scott Godzyk please call 603.661.2121 or EMAIL: Sctprop@aol.com .

 

About the Author: Scott Godzyk is the Owner/Broker of the Godzyk Real Estate Services in Manchester NH. Proud to be locally owned and operated with 32 years of experience, Scott is a leading Agent for Listing and Selling Homes in this area.We are Full Time Agents ready to serve all of your Real Estate needs. Servicing Hillsborough, Rockingham, Merrimack and Belknap counties. 

 

    

Comments(20)

Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

Good morning, Scott Godzyk after the others start selling, the third one will too...and that will be a much easier close...

Apr 18, 2018 06:22 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

An interesting situation, Scott. At some point, I'm certain the third seller will realize he's probably shooting himself in the foot.

Apr 18, 2018 06:39 AM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

FSBO sellers usually think they are saving money by representing themselves.  However, the buyers of their homes are looking to save on that same discount.  It is not unusual for the seller to net less in these types of sales, and they do so at the risk emanating from having no professional representation.

Apr 18, 2018 06:58 AM
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Well, once again I have heard something new.  Now the FSBO's are ganging up on us.lol

Apr 18, 2018 07:10 AM
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Prop. Mgr, Wenatchee, WA

That guy must have been quite a salesman (or should I say con artist) to talk his neighbors into that hair brained plan, splitting the proceeds evenly. 

Apr 18, 2018 07:21 AM
JL Boney, III
Coldwell Banker - Columbia, SC
Columbia, SC Real Estate

That's quite the unique situation and I have to say I have never heard of it before.

Apr 18, 2018 08:37 AM
Kathy Streib
Cypress, TX
Home Stager/Redesign

Scott- you do get some doozies! Seller #1 should thank his co-worker for giving him your name. 

                                                  

                          Congratulations, you've been featured in Bananatude. 

                                                    

Apr 18, 2018 08:49 AM
Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA

Now this is a first for me.  Owners teaming up to sell three homes and split the proceeds evenly??!!!  Gosh, what could possibly go wrong?

Glad you were able to talk sense to one of them.

Apr 18, 2018 03:14 PM
Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA

Featured in the group:  BARTENDER, MAKE IT A DOUBLE.

Apr 18, 2018 03:15 PM
James Dray
Fathom Realty - Bentonville, AR

Morning Scott.

I would say unbelievable, but I would be wrong.  I can see where seller of number 3 would be upset.  

Apr 19, 2018 01:27 AM
Kathy Streib
Cypress, TX
Home Stager/Redesign

                                                     

                   Thank you Scott!

Apr 21, 2018 05:33 PM
Cheryl Ritchie
RE/MAX Leading Edge www.GoldenResults.com - Huntingtown, MD
Southern Maryland 301-980-7566

What a lot of patience you showed in navigating this 3 way FSBO. Kudos! 

Apr 22, 2018 06:49 AM
Shirley Coomer
Keller Williams Realty Sonoran Living - Phoenix, AZ
Realtor, Keller Williams Realty, Phoenix Az

Unfortunately, FSBO sellers want what they want, aren't always reasonable.  Interesting scenario with the 3 sellers.

Apr 22, 2018 10:11 AM
Pat Starnes-Front Gate Realty
Front Gate Real Estate - Brandon, MS
601-991-2900 Office; 601-278-4513 Cell

Oh, Scott. We just can't make this stuff up, can we?? I'm almost speechless to respond. The only seller who would benefit from that three way sale would be seller #3... shaking my head.

Apr 22, 2018 02:16 PM
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

     Seller number three must have been quite the salesman to talk sellers one and two into a deal like this!

Apr 22, 2018 03:19 PM
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

You've done it again Scott! There is something about you that attracts the unusual...

Apr 22, 2018 04:23 PM
Kat Palmiotti
eXp Commercial, Referral Divison - Kalispell, MT
Helping your Montana dreams take root

Good for you! That three-way deal was only good for one seller!

Apr 23, 2018 07:42 AM
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
Retired New Hampshire Home Stager

This in one VERY strange scenerio. How on earth did that guy convince the other two to go along with this crazy scheme?

Yikes. 

You always have the most interesting real estate stories!

Apr 23, 2018 05:11 PM
John Wiley
Fort Myers, FL
Lee County, FL, ECO Broker, GRI, SRES,GREEN,PSA

I learn something new every day! Wow.

What a mess these three concocted.

Then a professional was allowed to show them the value they were losing.

Well done. Maybe number three will come to their senses.

Apr 24, 2018 04:00 AM
Corey Martin
Martin Presence Group - Ruston, LA
Real Estate and Management Solutions

Yet another example of why things are best left to the professionals. If only sellers knew how much they were losing by trying to sell their homes themselves. Thank you for sharing. 

Apr 25, 2018 01:32 PM