FOR SALE BY OWNER commonly referred to as a FSBO (Fiz-Bo), may seem like a great way to save money on a commission fee, but facts show that the majority of FSBO sellers end up regretting the decision. Consider some recent National Association of Realtors (NAR) statistics when evaluating your options:
· If they don’t see it, they can’t buy it. REALTORS are actively engaged in marketing and driving traffic to promote and sell their client’s property. We have comprehensive multi-pronged marketing systems to maximize market coverage and exposure for your home. This requires a substantial investment of time, money and resources.
· Do you have the time to devote to the task of selling your home? On average, it requires a minimum of 10 hours per week to effectively communicate with and show your home to buyers. In addition, you will need to screen and qualify buyers, prepare paperwork and communicate and coordinate with attorneys, appraisers, inspectors and lenders.
· The FSBO market is shrinking! FSBO’s only accounted for 9% of all home sales.
· 9 out of 10 buyers use the services of a REALTOR in purchasing a home. The seller may need to offer a commission to the buyer agents or the commission will be factored into the offered price. Effectively, a commission will be paid but the seller will not receive the benefit of the agent’s services.
· Majority of buyers that seek out FSBO properties have the expectation of a lower price because the seller is saving on the commission. Based on a national average of median sales prices, FSBO sold for 22% less than properties with agent representation.
· Presentation matters. Presenting a professional and high quality marketing campaign, which would include professional photography, 3D modeling, and schematics, videos, etc., as well as knowing which improvements will make you money and which will be poor investments, staging the home for prospective buyers are all instrumental in presenting your property in the best light.
· Negotiating is not just about price. Agents are aware that there are tactics and points other than price that can be negotiated to arrive at a successfully transaction.
If you are interested in learning about our approach to getting your property sold, just click below to schedule an appointment. We look forward to meeting you!