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For Sale By Owner Information
Did you know...The median For Sale By Owner selling price in 2006 was $187,200, compared with $247,000 for agent assisted transactions. In other words, homes sold with the help of a real estate professional in 2006 sold on average for 32 percent more than FSBO sales.[1]
More telling than those numbers is this fact....40 percent of all FSBOs sold their homes to someone they knew prior to the transaction. This means that only 7 percent of all home sales are open market FSBO transactions. The rest are simply unrepresented sellers in private transactions.[1] |
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Approximately 70% of FSBO sellers eventually turn to a Realtor® to sell their home.
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Homes sell 80% faster when listed by a Realtor.
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Buyers who look for FSBOs usually offer 6-10% below the price of comparable properties because they know the seller is not paying a commission.
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Alleged failure to disclose such things as previous repairs, insects, exact lot lines, and the presence of certain types of mold/fungus in the property are the source of many lawsuits against sellers and can cost the seller thousands of dollars in legal fees.
SOME THINGS TO CONSIDER BEFORE SELLING YOUR HOME ON YOUR OWN
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Have I priced my home correctly to attract potential buyers?
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Am I getting the maximum market exposure in order to obtain the highest price?
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Is it cost effective to have an ad running constantly?
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If I don’t intend to advertise how am I to let people know my home is for sale?
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What plans do I have for people calling while I am not at home to talk with them? Will they leave a message on a machine?
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How do I make a proper flyer sheet for buyers to take home with them? Is the information 100% accurate?
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Should I have an Open House? If so, who will be coming to my open houses, and what do I do if more than one person come in at the same time? How do I watch them?
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Do I know which potential buyers can really afford my house?
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Do I let all callers come see my house? Are they wasting my time or staking out what I have for a future robbery?
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How do I weed out the unqualified buyer? How can I avoid problems with buyer financing?
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Am I able to ask a buyer to submit an offer on my house without appearing desperate?
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Can I effectively negotiate a real estate contract with the buyer?
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Am I familiar with all the related forms I will need in order to complete the sale? Have I protected myself? Can the buyer back out of the contract?
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How long will it take me to sell the house? Will the transaction close and close on time?
We Can Help!
If you need additional information regarding listing your home with a Realtor® versus selling your home by owner, please call or e-mail us. We will be happy to provide information about our services so that you can compare and make the most informed decision. We look forward to serving you!
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