Sometimes things just happen. There are a few faithful readers that don’t see the value in a Realtor. Put a sign in the yard and sell it. That simple. I have to admit that its pretty ironic that I put a sign in the yard and it sold. But was it really that simple?Back when we started the project of converting a duplex into a single family, I did all the listing paperwork and withheld it from RMLS. Being Realtors, our company policy does not allow us to be a true FSBO- the buyer has to be represented. We would have referred them out to another agent if the buyers did not already have a Realtor. With a construction project you have two forces fighting each other. If you sell it early, you have to share decision making with the buyer. If you wait until it is finished, you have holding costs. The former is probably preferable to the the latter.
A couple of weeks back, I got a call from a Realtor who was outside with her clients. It just happened that I was in the area and it was easy for me to show. Still in the framing stage, it is easy to walk around so in reality, the timing is perfect. The next few weeks as finishes go up, it would have been hard to have on the market as showing it would have been near impossible. We came to an agreement last night: their offer followed by a 17 item seller’s counter followed by one additional item on their buyer’s counter.
It’s hard for me to gauge the experience as I can never be a true FSBO. I’d maintain that the sign in the yard is the easy part and the negotiation and getting to closing (which is a ways off admittedly) is the hard part. This project is a 100% true flip. There have been a lot of negative comments that this area of the market is dead. Build a quality product and there is a market for it.
And at this point in the transaction, from this side of the transaction, it doesn’t feel like zero sum. We are still putting together the quality project we had envisioned and are sharing some of the decision making on finishes.