2008 FSBO Trend
As I drive down the street I see numerous homeowners attempting to sell their homes by owner. Several companies are now offering flat fee listings and marketing packages to assist “for sale by owners”. Sellers are attracted to the low fees and compare them to the fees of a Realtor. There are advantages to the “for sale by owner” companies but only if you have the expertise and time to perform literally hundreds of tasks to complete the real estate process. I believe the benefits of listing with a Realtor far outweigh the benefits of using a “for sale by owner” company.
Let us compare the upfront cost associated with both options. To sign a listing contract with a Realtor it will cost you nothing. The only way a Realtor earns a commission is if and when the home sells. When signing a contract with a “for sale by owner” company the seller must pay the company a predetermined fee which is not refunded regardless of whether your home is sold. Remember that this predetermined fee typically doesn’t last until the home is sold so you may need to pay fees several times depending on how long it takes your home to sell…
Now keep in mind that once you have negotiated and settled on a commission with a Realtor that price is set and there aren’t any extra features that you need to purchase. “For sale by owner” companies typically require you pay extra for features including signs, photos, ads in magazines, internet advertising, and more. In addition, a Realtor’s commission includes payment to a buyers agent with no extra cost to you. Most “For sale by owner” companies require you pay buyers agents commission on top of their fees…
While at first glance a “For sale by owner” may seem like the answer, this simply isn’t true. If you are selling your home, I say give a Realtor a chance. Let them do the work so you can sit back and relax. The choice is now up to you: Hire a “For sale by owner” company, pay upfront, and take the risk of losing the upfront money or hire a Realtor with no upfront cost, pay Realtor commission once you have sold your home and lose nothing!
Heather Yocum, Nevins Realtors LynnandHeathersHomes.com
I have three years of experience as a licensed Realtor. I offer overwhelming dedication as well as creativity. Some specific accomplishments include: In the past 2 years I have leased and/or sold over 60 homes for a locally owned real estate company. Through drive and determination I managed thousands of buyer/tenant leads and always obtained an overwhelming response of buyer/tenant loyalty due to my attention to detail, outgoing personality, and dedication. I have developed and implemented various marketing strategies that accounted for low vacancy rates, average 7-14 days on market before occupied. In addition, these strategies reduced holding costs for the seller. Does this sound like the person you need? If it is, I am eager to speak with you. Call me Now! 502-235-5164
Article Source: EzineArticles.com expert - Heather Yocum
January 18th, 2008 at 9:39 pm
What about choicea.com ? It’s a free FSBO listing site in the NW.
March 26th, 2008 at 6:00 pm
FSBO Property can be difficult to sell in this market. while there are some people who have been successful at it it was only when they applied SOME of the techniques used by realtors. Massive marketing, competitive pricing, working with mortgage pro’s, and just being a constant marketer of your property. While a realtor DOES charge a commission they tend to get better results. It really just depends on your particular market and your willingness to sell your property.
August 25th, 2008 at 5:40 pm
Selling your FSBO property can be difficult in the current market and does require a vested effort on the owners part to make the sale happen. It will require research and a bit of know how about real estate buying and selling process. There are quite a number of homeowners who now need to sell and quite simply can’t afford to price their home properly and use a Realtor.
The people in this predicament need to utilize every resource they can and also use some caution in the FSBO services they select. There are a number of companies that claim to offer cheap services but by the time you’ve sold your house, you’ve spent almost the same amount you would have with a Realtor.
February 15th, 2009 at 9:25 am
Here in the UK many people choose to try both routes. As long as they have no clauses in their contracts with estate agents they are free to sell their home FSBO and use an agent at the same time. This not only maximises their homes exposure but it also enables the buyer to try and avoid the excessive agent fees. For a one off fee of under £50 to list your property on a FSBO site it is not going to break the bank but could save you thousands!