A common mistake made by For-Sale-By-Owners is not pricing their properties correctly. About 10% under-price their homes, and these often sell in less than 2 weeks. Many of these are snatched up by investors on the lookout for under-priced FSBOs who often buy them for 10-20% under market. About 1/3 of all FSBOs are overpriced, and don't sell until they reduce their price. The other problem is that many FSBOs tend to be impatient, and expect to sell their home in less than a month. Even if a FSBO is priced right, it still takes an average of 4-6 months to sell. The reason it takes so long is that they are missing the major real estate market that is dominated by MLS Obviously, a house will sell quicker if it is exposed to 20 times as many buyers
Many FSBOs drop their price sooner than they should when their house doesn't sell right away. Most give up during the first month and list with one of many real estate agents who contacted them when they first put their sign in the yard or ad in the paper.
The biggest complaint from FSBOs: "I get a lot of calls, but they're all from real estate agents who just want to list my house!"
FINAL OUTCOMES FOR "FOR SALE BY OWNER HOMES"
92% End up being listed with a Realtor | |
3% Sell without a Realtor | |
5% of homes are sold through newspaper advertising |
*These figures include private party FSBOs only, and NOT professionals or investors
This is where you could add a description of your product or anything you wanted to list with a description. You could also place testimonials or product reviews here.WHAT'S THE SOLUTION ? I am not trying to discourage anyone with these statistics. The numbers are what they are. Message is very clear: by all means, sell your home as a FSBO, but take advantageof the marketing tools I can make available to you, and use the resources available on this website. I want you to succeed in selling your home, and we will provide you with the important link to the major real estate market for less than most FSBOs spend on newspaper ads .
FIVE QUESTIONS YOU MUST ASK YOURSELF
1. How do I ask someone to confirm with me that they are who they say they are before they go through my house?
2. How do I confirm whether or not they are tire kickers or even qualify for the financing to purchase the house?
3. Do I remove the sign from the front lawn every time I leave, or is it wise to create a situation for strangers to come to my door when I am not home?
4. What is my time worth to me - relative to all the family activities I could be doing?
5. Is all the work really worth it, when there's no savings in the long run?
People Have Been Hiring Professional Realtors For More Than 100 Years.
Anything That Has Lasted That Long Must Have Good Value To it. Call Liberty Homes & Estates, Inc today .(914.723.2600 x 312) , visit us at Westchester Properties