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How many FSBO sellers does it take to kill a sale?

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

The answer is "One". You see... He thought selling his home on his own would be easy. The media is saying there is a shortage of homes for sale, so sells should be able to "name their price." On this Manchester NH area home. the seller soon found a dozen buyers. He really was not sure what to do next so turned to the Internet. It said to accept the highest offer so that is what he did. 

 

The trouble started when this buyer was getting a FHA mortgage. The seller was not ready or even familiar with FHA or what it meant. Soon the inspection took place and then the appraisal. Then came a list of $20,000 repairs that the buyer wanted completed along with a $12,000 credit towards closing costs. The seller was in  pinch. He already packed his whole house. He put a deposit on another home without any contingencies as he did not need a buyers agent either. The buyer added neutral interior paint throughout and all newflooring. 

 

Soon the sale of his home died. They asked for professionals to complete work and he did his best to do it himself. The sale was dead. He was lost. He was depressed. How could it go so wrong his wife asked her hair dresser. Guess who was their getting a haircut? Yes, me. She introduced me to Mrs Seller who invited me over. I went over that afternoon and it was head shaking worthy. Mr. Seller was ready to listen. We went over value. We went over the repair list. We went over him purchasing the new home. He loved my plan and signed. The first step was to get an extension or get him out of the purchase. A letter from his loan officer stating he was denied for a mortgage and needed to sell his home to get a mortgage worked within the deadline dates. 

 

We worked on the sale of his home. First with FHA they are looking at health and safety items. Working smoke detectors, hand rails, no peeling paint and screens on the windows. Certainly not $32,000 and all easy items. I told him who to call and where to go. Within a week, all items completed well under $500. The seller was more than happy. I lifted the stress from his shoulders as he readies the home for showings. We found him a new home with a proper home sale contingency that that seller accepted. Now to sell this once FSBO home the right way. 

 

 

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 theThat buyer said they signed up for the VIP program, how could this happen. 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(19)

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

Good morning, Scott Godzyk we'll be reading the sale pending post on his home within days...

Jun 02, 2018 06:20 AM
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning Scott and congratulations. There is always a cost in doing it yourself.

Jun 02, 2018 06:36 AM
Robert Caston
Home Junction Inc. - San Diego, CA
Real estate market data & tools - Home Junction

Very informative. Yes, selling your own home sounds easy until....they actually try to do it....

 

Jun 02, 2018 06:49 AM
Debb Janes
Nature As Neighbors - Camas, WA
Put My Love of Nature At Work for You

It's what you don't know you don't know that can trip you up - big time. 

Jun 02, 2018 07:18 AM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

FSBOs  usually have no idea the depth of what it takes to close a real estate transaction.  It's much more detailed than selling a used car.

Jun 02, 2018 07:39 AM
Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA

Love those chatty hair dressers. Thanks to Mrs. Seller's friend, they now have the opportunity to get this done.

Jun 02, 2018 07:39 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

The seller's market can be more of a minefield than a cake walk, can't it, Scott?

Jun 02, 2018 07:46 AM
Pat Starnes-Front Gate Realty
Front Gate Real Estate - Brandon, MS
601-991-2900 Office; 601-278-4513 Cell

.This post accurately describes what happens when Realtors are not involved in a sale. Thank you for sharing this story with us

Jun 02, 2018 08:16 AM
Kathy Streib
Cypress, TX
Home Stager/Redesign

Scott- if only the sellers had sought you out in the first place!!!

Jun 02, 2018 03:26 PM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

That is the plan Barbara Todaro 

Jun 02, 2018 05:20 PM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

There sure is Sheila Anderson , thanks for the comment

Jun 02, 2018 05:22 PM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

It sounds easy to many until the try it Robert Caston 

Jun 02, 2018 05:22 PM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

That is for sure Debb Janes EcoBroker and Bernie Stea JD 

Jun 02, 2018 05:22 PM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

That is so true Myrl Jeffcoat , thanks for the comment

Jun 02, 2018 05:23 PM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

It sure can Carol Williams , finding a buyer is the easy part, getting a home to close is the real test

Jun 02, 2018 05:25 PM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Thank you for the comment Pat Starnes, Brandon, MS 

Jun 02, 2018 05:25 PM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

I think that often Kathy Streib and share these stories in hope of reaching buyers and sellers before they make their choice

Jun 02, 2018 05:26 PM
James Dray
Fathom Realty - Bentonville, AR

Morning Scott.

I bet before they met up with you, they done their own dental work.  Thankfully, there was Scott to the rescue 

Jun 03, 2018 01:52 AM
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

When I worked with homeowner buyers my favorite homes to show were often FSBOs or "order entry" MLS listings which for all purposes was a FSBO. I figured that my over 3000 homes sold and negotiated but us in the drivers seat without having another agent involved that might push back.

Jun 03, 2018 01:24 PM