For Sale By Owner
The myths of the "Unrepresented Seller."
Many homeowners believe they can sell their own home without the representation of a licensed real estate professional. We've all heard the term "For Sale By Owner" (FSBO), but aren't all homes sold by the owner? We believe that a better term is "Unrepresented Seller." While some are successful, for most people being unrepresented isn't their best option.
When considering whether or not to use a REALTOR®, here are four things to consider:
We are Real Estate Professionals. This is our full-time job, and we pride ourselves on our knowledge of the local real estate market. We know your neighborhood and can provide up-to-date market information on comparable home listings and sales, as well as suggestions on how to make your home more attractive to potential buyers.
- In today's highly competitive real estate market, the key to selling your home quickly and for a fair price is marketing exposure. Marketing your home takes more than putting a sign in the yard. The Multiple Listing Service (MLS) is the database that REALTORS® use to look for properties. Only homes listed for sale by members of the local, state, and national associations of REALTORS® appear in MLS.
- Recent studies found that more than two-thirds of buyers look for homes online. Our listings appear on multiple highly rated websites.
- In addition to print advertising, we produce our own marketing materials including postcards, door hangers, and more.
Cost vs. Value
Most Unrepresented Sellers are trying to save money by not paying a commission, but…
- According to the National Association of REALTORS®' 2003 Profile of Home Buyers and Sellers, the typical Unrepresented Seller's home sold for about 20% less than a REALTOR® listed home. You may save a little on commissions, only to lose far more in sales price.
- In most cases, buyers are represented by a real estate agent known as a "Buyer's Agent." This agent's commission is generally paid by the seller, even in the case of an Unrepresented Seller. This means that you're saving less and paying for someone to represent the buyer, but no one is representing you!
- A properly priced home sells faster. Our knowledge and expertise allows us to help you price your home to sell! Remember, the longer your house is on the market, the more you pay in mortgage, insurance, and other costs. A $400,000 home typically costs close to $3,000 per month to remain on the market.
Most buyers have limited time available to look at houses, and they expect the home to be available on their schedule. If not, they often move on to the next listing without rescheduling the showing. Do you have the flexibility required to show your home to prospective buyers during the workday?