Here is a list of some of the people with whom you must be prepared to negotiate if you decide to FSBO.
The buyer who wants the best deal possible
The buyer’s agent who solely represents the best interest of the buyer
The buyer’s attorney (in some parts of the country)
The home inspection companies which work for the buyer and will almost always find some problems with the house
The appraiser if there is a question of value
Your bank in the case of a short sale
2. Exposure to Prospective Purchasers
Recent studies have shown that 92% of buyers search online for a
home. That is in comparison to only 28% looking at print newspaper ads.
Most real estate agents have an extensive internet strategy to promote
the sale of your home. Do you?
3. Actual Results also come from the Internet
Where do buyers find the home they actually purchased?
43% on the internet
9% from a yard sign
1% from newspapers
The days of selling your house by just putting up a sign and putting
it in the paper are long gone. Having a strong internet strategy is
4. FSBOing has Become More and More Difficult
The paperwork involved in selling and buying a home has increased
dramatically as industry disclosures and regulations have become
mandatory. This is one of the reasons that the percentage of people
FSBOing has dropped from 19% to 9% over the last 20+ years.
5. You Net More Money when Using an Agent
Many homeowners believe that they will save the real estate
commission by selling on their own. Realize that the main reason buyers
look at FSBOs is because they also believe they can save the real
commission. The seller and buyer can’t both save the same commission.
Studies have shown that the typical house sold by the homeowner sells
for $184,000 while the typical house sold by an agent sells for
$230,000. This doesn’t mean that an agent can get $46,000 more for
your home as studies have shown that people are more likely to FSBO in
markets with lower price points. However, it does show that selling on
your own might not make sense.
Before you decide to take on the challenges of selling your house on
your own, sit with a real estate professional in your marketplace and
see what they have to offer.
Author:Ann Marie Cancro Phone: 717-468-1301 Dated: November 11th 2014 Views: 403 About Ann Marie: LICENSED: Licensed Real Estate Professional since October 1990.
AFFFILIATIONS: Lancaster Assoc. o...
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