FSBO or Realtor?
Would you sell your Hoboken apartment yourself (FSBO)?
I noticed this property at 1123 Washington Street had a big banner out front, clearly indicating that it was for sale by owner (FSBO).
They boasted that there was no brokers or Hoboken Realtors involved, which obviously means one thing: No middle man, and no fees.
On paper, this allows the buyer to pay a bit less, and the seller to keep a bit more (provided the condo is sold at less than it would had an agent been involved.)
The average price paid for a condo in Hoboken as of late is around $525,000. With the 6% fee, that’s over $30k that you can take out of the equation!
Is having a Realtor worth the 6% fee?
It definitely seems that the majority of home owners use Realtors versus trying to sell their apartment themselves.
Do the services that real estate offices provide justify the price? With some of the larger brownstones – you could be talking between $60k and over $100k! For what? Color brochures and open houses?
I can certainly understand that if your home is listed in the Hoboken MLS listings, that you’d certainly get more exposure.
But with sites like FSBO.com, Craigslist and Zillow – coupled with the fact that Hoboken is a “hot” market, perhaps either Realtors aren’t as necessary as they used to be, or could cut their commissions down in half or more?