For Sale By Owner = FSBO

As a FSBO, you only have four ways to attract buyers.

Classified advertising.
Open House
For-Sale-Signs
Internet

Over 80% of homes are sold because the Buyer's Broker or Agent was being offered a commission on MLS. This is one route not open to you as a FSBO. By not listing your home on MLS, you forgo the single homeselling strategy with the most impact.

FSBO's lack real estate sales and bargaining expertise and infrastructure. Buyers who call in response to your ads will be able to drive by without seeing the inside. For prospective buyers that drive by your house, how do you plan to follow up with them? What will their impression of you be when you call them? How will calling them affect your negotiating position?

You have only one property to show, and may not fully understand the complex paperwork involved in selling a home. Realtors have many homes to show and can match buyers to properties. Do you fully understand all the legal steps in selling a home? Many home sales fail due to incomplete paperwork, lack of inspections or not meeting the state disclosure laws that owners are required to make when selling on their own. Are you knowledgeable on all of these requirements? If not, it would be very wise to select a real estate professional.

FSBO's struggle to resolve bargaining impasses with buyers. Ask yourself if you possess the legal knowledge to work through disputes on any or all of the contracts necessary when selling a home, which subject sellers to a high level of potential liability. Again, this could be the difference in getting your home sold or having it sit on the market month after month, or the difference between selling it and moving on with your life, and selling it and ending up in court over the sale five or six years later.

FSBO's aren't familiar with the best inspectors and escrow companies. Randomly selecting companies can be disastrous. Disreputable or low-quality companies can slow, derail or even completely halt the sale of your home. A trained real estate professional will know which companies can be trusted to keep the sale of your home on track.

WHERE WELL-QUALIFIED BUYERS COME FROM

40% come from a Realtor's company name or salesperson contact.

82% are represented by a Buyer's Broker.

18% come from "For Sale" signs in the yard.

10% are referred by a relocation service.

72% look for properties and/or Realtors on the Internet.

4% come to an Open House but purchase a different property from the Realtor at the Open House.

1% buy a property they saw advertised in the newspaper.

2% buy for a combination of reasons.

Note: Very few buyers buy as a result of an Open House or newspaper ad.

Source ReThink Real estate international

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