Why For Sale By Owners are Not on the Rise
In our electronic world, it's easy to see how homeowners believe they can sell their home by themselves. They place their home on Zillow to reach millions of prospective buyers but have no idea what they are going to do IF they get a buyer. So after dealing with the incoming phone calls, fake phone numbers and names, the no shows, open houses, low ball offers and unqualified buyers without success, they realize it's not as easy as they thought. They need a professional REALTOR® to sell their home.
Statistics show that Sellers using a REALTOR® net more on average than a For Sale by Owner (FSBO). Why? Buyers looking at FSBO's want to save on the same commission that the Seller wants to save on - but the buyer and the seller can't both save on the commission! More importantly, FSBO's usually underprice their homes. REALTORS® interpret the local market data and explain why the Zestimate on Zillow is not accurate as the statistics provided by the local Board of Realtors. REALTORS® will help to determine the appropriate listing price using this data so the home will sell quickly, appraise and close.
REALTORS® provide the property with exposure that a FSBO simply can't. A sign in the front yard just doesn't work anymore. 92% of homebuyers find their home on line. REALTORS® market a home on numerous internet sites to give it maximum exposure using professional photography and video. They know how and where to find buyers. They're reaching out to their personal data base, Facebook business page, other REALTORS® and prospecting daily to sell the home.
The paperwork required in this litigious society we live in is enough to scare even the most savvy seller! REALTORS® are knowledgeable and familiar with the different contracts and required disclosures to help wade through this process and make sure a homeowner is protected.
Sure, some sellers get lucky when they let everyone in their neighborhood know they're selling their home and somebody knows somebody and they buy. But in the real world, oftentimes doing business with a friend's friend can end with a disaster in friendship and the deal doesn't close anyway - we've all seen that. Get a REALTOR® involved from the beginning and start moving.
Written By: Kathryn Zorn