For Sale By Owner TipsNeed assistance in making an informed decision on whether the For Sale by Owner (FSBO) route is for you? Find out why buyer beware - applies with some FSBO homes.
BUYERS:
There are some very good FSBO deals out there. However, there are homes for sale by owner that are also greatly over-priced, some by $10,000-$30,000 and more. To be fair, there are also lots of real estate listings that are over-priced!
Are you able to distinguish between For Sale by Owner homes that are listed at fair market value, modestly over-priced, or really over-priced? A buyer's agent can help negotiate a fair price, protect your interests, and remove emotion from the equation with a professional market analysis of the home you wish to purchase. The best part is that a buyer's agent does not usually cost the buyer any money, and your interests are protected when you work with an experienced Realtor.
SELLERS:
Buyers not finding you? If you are selling FSBO, there are some questions you might consider asking before listing your home on a FSBO internet site.
Do the For Sale by Owner sites that you visit post their success rates - the number of sales-to-active listings ratio, and their listed price-to-sales price ratio? If not, will they give you the statistics when you ask? If their numbers are not forthcoming, why would they hide information from you which is readily available to them?
Do the For Sale by Owner sites that you visit post their success rates - the number of sales-to-active listings ratio, and their listed price-to-sales price ratio? If not, will they give you the statistics when you ask? If their numbers are not forthcoming, why would they hide information from you which is readily available to them?
Do the For Sale by Owner sites that you visit use deceptive marketing tactics to secure your home listing? A 2003 study of the homes that were marked "Sold" in a popular Canadian FSBO publication, revealed that many of the homes were not sold by owner! They were sold on Canada's Multiple Listing Service (MLS) by a Realtor!
For Sale by Owner sites promise to save you thousands of dollars in Real Estate commissions but do they really? By nature, For Sale by Owner - FSBO - shoppers are looking for bargains. Are you ready to be a target for low-ball offers? Do you know how to handle them when they come in?
With so many For Sale by Owner websites on the Net and more cropping up daily, consider the monumental task that buyers face trying to find you!
Why do most FSBOs eventually list their homes with a Realtor on the Multiple Listing Service (MLS)? One reason why is that the MLS marketing system is unparalleled for putting buyers and sellers together.
Most buyers use Realtors, so marketing to Realtors is essential. Do you have a marketing plan in place for both Realtors and Buyers?
If you are thinking of selling your house For Sale by Owner, if you are thinking of purchasing a For Sale by Owner home, or if you are looking for more information before you make your decision, please call me to discuss.
For exceptional service, honest answers, and no pressure to list, contact me today, or download some of our resources in the Home Buying and Home Selling sections.
************************************Paulette Upshall, BScOT, OT Reg (NS)
Realtor (R), Owner
CENTURY 21 Admiral Cove Realty
M: 902-877-8851
O: 902-835-HOME (4663)
F: 902-835-7214
Toll Free: 1-877-C21-ADMI
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