FOR SALE BY OWNER
Some homesellers choose to sell their house on their own. Their reasons for doing so are varied, but most of them involve the idea that selling on their own will save them money.
Homeowners ask themselves: "How tough can it be? Realtors just stick a sign in the front yard and collect a commission for doing next to nothing. I can do this myself and save a pile of money."
When the phone rings, it is usually a Realtor® trying to get a listing, not a potential buyer interested in the property.
The few potential buyers who come along can typically be described as "looky loos" or "bottom feeders'. The former are just wasting your time; the latter are just sniffing to see how desperate you are to sell.
If you do get an offer from buyers of these types, it is usually a lowball that leaves a bad taste in your mouth and raises your blood pressure.
The fact is that just as sellers are looking to save the commission by selling their own home, the buyers who are attracted to FSBO sales are also interested in saving the commission. In practical terms, the biggest reason to sell on your own is largely eliminated because the buyer is looking to grab any non-paid commission savings for himsel..
If a Realtor brings a potential purchaser, this can amount to a double whammy to the FSBO seller for 2 main reasons: 1) the realtor will want a commission for introducing the buyer to the property and 2) the FSBO seller is generally at a disadvantage in any negotiations because the Realtor is a well-trained negotiator who has a far more extensive knowledge of the marketplace.
In varying degrees of frustration and dillusionment, most FSBO sellers eventually end up listing their home with a Realtor® after their attempts to sell have not produced the intended results.
Most home sellers don't understand how the real estate selling process works and they don't have a grasp on the number of issues that must be addressed if the sale is to conclude successfully.
In order to assist those who wish to sell on their own, we have prepared a presentation for FOR SALE BY OWNERS that explains in detail how Realtors work to get houses sold.
If you would like further information on our innovative FOR SALE BY OWNER programs, we would love to hear from you.
