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Spokane For Sale By Owner - Not so Hot this Summer

Hello Everyone,

Well we are past the half way mark for the selling season this summer and I have seen a lot of FSBO's (for sale by owners) sitting on the market not selling. Many are listing, but some are going out fo the frying pan into the pot by going from FSBO to discount broker.

There is an old saying that if you keep doing what you have always done, you will keep getting what you have always got. I think this holds true in the case of Spokane for sale by owners. This is a very tough and competitive market in Spokane Washington. I pulled a list of homes in a neighbrohood yesterday and there was 56 homes in the search criteria for sale. Compared to about 8-12 normally.

Bottom line is FSBO's need to stop trying to save a buck and start focusing on getting their homes sold, because in this market just getting it sold is going to be a challenge. You need to stop trying to hire the cheapest agent and start looking for the best agent or you will not get your home sold. This advice goes for all sellers in the Spokane Real Estate Market.

Spokane FSBO sellers are waking up, but then in many cases making the wrong choices. They are realizing that their home isn't selling, but then either hire an agent who comes in and underprices the home to get it sold instead of doing better marketing, or they go with a discount broker who may not market the home much better than they are. You have to realize that marketing matters in a competitive market and marketing quality and quantity should be one of the largest factors in who you hire in this tough market.

Call us 509-362-1966 of visit our website to learn what we do differently than other agents in this market to get our homes sold and visit our Spokane For Sale By Owner Section to learn tips and get straight facts about Selling For Sale By Owner in Spokane.

Team Quintana For Sale By Owner Experts!

Ross Quintana Your Spokane Real Estate Expert! Team Quintana Real Estate Spokane, WA	Work: 800-756-5251 Ext 1 Mobile: 509-362-1966 ross@teamquintana.com Spokane For Sale By Owner
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Posted by Spokane Real Estate - Ross Quintana on 07/18/2008 12:04 PM

Comments (10)

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10 Comments on Spokane For Sale By Owner - Not so Hot this Summer

JUL

2008

There are so many that think selling is a piece of cake. They also don't realize the potential for a claim from the buyer if they do sell

JUL

2008

We have too many homes on the market... not even counting FSBO's. Difficult times right now, no matter what you have, or don't have, in your arsenal!

I agree. You want to know what is worse? I signed in to my MSN home page today and there it was; an article about selling your home yourself. Front page. Of course, after that was the reasons you need an agent but the FSBO article is right in your face. :o(

JUL

2008

As a person who did a FSBO a couple decades ago (shutter) I can easily tell people why they shouldn't. However, it sometimes takes learning the hard way that it's not a good idea.

JUL

2008

Yes, people never get to hear the FSBO horror stories, because the FSBO companies want to keep them focused on the savings they might get.

JUL

2008

everyone seems to try an FSBO one time , like building a home, after you try once, you never want to again

That is so true, people need to wake up and count their carrying costs against the perceived savings of going FSBO!

AUG

2008

Hi. I hope you don't mind a FSBO guy jumping in and leaving a comment. I run a FSBO company in Durham Region, Ontario which is just outside Toronto on the east.

I was an agent for 15 years so I have seen the other side. I find most FSBO's to be lazy. They expect a sign on the lawn and internet listing to sell their property. And it might. However, most will not even read a small information pak I have prepared. Most FSBO's will not do open houses, pay for ads and other avenues to market their property.

Ross, I'm not sure if when you say 'FSBO horror stories' you are referring to those that spun their wheels for a few months and did not sell, or those that ended up in legal hot water. If it is the first one, I certainly don't hide the fact when a potential customer approaches me. I will be the first to tell them that the odds are against them. Is that honesty or what? But I also mention recent sales on my website.

I simply tell them if the idea interests them, they should give it a try. But expect to get what you put into it. If all you do is put a sign on the lawn, then expect to get what a sign on the lawn will bring. Agents will agree as they are aware that more marketing is required than this.

Most FSBO's don't realize that when selling privately they have a part-time job. They have to do everything they would expect an agent to do. Except they don't have the benefit of MLS.

If the statement 'FSBO horror stories' refers to legal problems in a sale, I have never heard of one. During my real estate career I never heard of litigation involving a private sale. I ran a good sized business and I know a lot of lawyers. I think that most FSBO's realize that when they get to the paperwork stage, they need to get a legal professional involved.

I run a small business here. There have been 7 successful private sales on my site in the past 60 days. I have communicated with everyone and they all have a smile on their face. I have had family members sell private (yes, when I was an agent), and they would do it again. But I will be the first to agree that it is not for everyone. You do need some patience and be willing to put some effort in it.

Will stop now before this turns into a book.

AUG

2008

Yeah, it isn't that they never sell, but yes there are many horror stories as far as problems with getting it sold and with legal issues. Many FSBO's don't even have the required disclosures and buying without an agent can lead to trouble for both parties.

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