Going back to 2013, there has actually been a boost in for sale by owner meaning trying to sell their homes without using a great advertising tool like Multiple Listing Services (MLS) or help of a Realtor®. Back in 2013, supposedly, slightly more than 50% of closings in USA were not advertised on the MLS. A vast majority of home owners are not licensed Realtors, therefore have no access to this extremely powerful tool – that is commonly used on a daily basis by millions of Realtors® across the country.
Home owners who intend to sell their property on their own are generally at risk of a sizeable loss of money due to the lack of Comparative Market Analysis (CMA) or simply poor knowledge of current Market Conditions. Frequently the home owner will determine his selling price based on the amount his neighbors property sold for, which is truthfully not the best strategy. A local Realtor®, who is constantly “in the Market” would be the best person to determine the true value of the property the home owner is planning to sell.
One important factor concerning FSBO sales that ought to provide home owner to be cautious is that a skilled Buyer’s Agent (ABR) may hold the advantage in a FSBO property deal. Why? The home owner might not have any clue how to properly negotiate issues and contingencies that could come up during the process., never mind state rules and regulations. Skilled REAL ESTATE AGENTS know how to circumvent these roadblocks quickly and also maintain a home purchase process on the way to quick closing.
Truth: For Sale by Owner Marketing Can Not Match the Realtor’s One
Working with any kind of specialist requires a compensation and Realtors® are not any different. For Sale by Owner marketing is limited to a Zillow, Realtor.com, For sale by Owner.com. , which respectfully are no match to a Multiple Listing Services, due to a simple fact that million’s of Realtors® are looking at all the listings first thing in the morning. That creates a tremendous exposure to any given listing.
But there is more. Let’s take a showing for instance. Majority of home owners have jobs and plenty of other responsibilities and might easily miss a phone call from potential Buyer which would translate into lost opportunity to show the house or possibly lose that very same Buyer.
For Sale by Owner and the Open House
Home owner should ask him/herself and answer very honestly – would I rather spent my valuable time on Sunday doing and Open House or spend this time with my family having fun?
Would you be willing to do a follow up calls to the people who visited you on Sunday night or would you set some time during the week? Would you know what to say?
Would you know the difference between FHA per-approval, VA or Conventional Mortgage?
The point of this article is not to discourage you, the home owner to give up on selling on your own, but rather give you some facts and valid points for making an intelligent decision.
Are you better off doing it yourself or maybe it is wiser to leave certain things to be performed by a professional.