In today’s market, with home prices rising and a lack of inventory, some homeowners may consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons why this might not be a good idea for the vast majority of sellers.
Here are the top five reasons:
1. Exposure to Prospective Buyers
Recent studies have shown that 94% of buyers search online for a home. That is in comparison to only 17% looking at print newspaper ads. Most real estate agents have an internet strategy to promote the sale of your home. Do you?
2. Results Come from the Internet
Where did buyers find the home they actually purchased?
51% on the internet
34% from a Real Estate Agent
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 crucial.
3. There Are Too Many People to Negotiate With
Here is a list of some of the people with whom you must be prepared to negotiate if you decide to For Sale By Owner:
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
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 8% over the last 20+ years.
The 8% share represents the lowest recorded figure since NAR began collecting data in 1981.
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 estate agent’s commission. The seller and buyer can’t both save the commission.
Before you decide to take on the challenges of selling your house on your own, sit with The Legaz Team and see what we have to offer.
Author:David Legaz Phone: 718-216-9990 Dated: January 7th 2017 Views: 1,434 About David: ...
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In today’s market, with home prices rising and a lack of inventory,
"Dear Nancy & David,
Lisa and I just wanted to express our heartfelt thanks for the fantastic job you did with the sale of our apartment in Le Havre. Your commitment, professionalism, and dedication could not be any greater. We were thrilled with every step of the process.
From the first time we met you, through the final closing of the apartment, we could not have been happier. The presentation of the apartment on your website was superb. We were especially touched with the way you personally called us to inform us of the progress of our sale AFTER the contract was signed.
We would not hesitate to recommend you as the real estate brokers of choice for any apartment or home in the Bayside/Whitestone area. Your knowledge of the neighborhoods and community are excellent. In summary, you have been a pleasure to work both. Thank you once again.