FSBO First, Relax, and Let the Power of Self-Selling Work For You

The Reality of Home Selling

There’s a lot of marketing hype and social gossip about how homes are “flying off the shelves.”  When you watch Bravo’s “Million Dollar Listing,” homes are either sold by the first commercial break or some secret investor calls on the phone and buys the property sight unseen, wiring the money the next day.

In home selling, this is not reality, unfortunately; it’s called Reality TV.  The reality is, the typical home takes about 3 to 5 months to sell a house. Sellers get discouraged if their home does not “fly off the shelf” like they do on TV. Even if you don’t need to sell your home quickly,  people tend to get discouraged. The important thing is, don’t be discouraged. Homeowners taking on the selling process themselves may shy away from the task.  Often homeowners know they have the capability to sell their own home, but the fear of appearing stupid or of being humiliated wins. With this mindset, a home seller is inclined to sign on with a real estate agent. It’s easy, and they can blame someone else if they’re not getting any bites.

Do FSBO Homes Sell Faster?

Besides the large chunk of money – and equity – the home seller stands to lose in commissions in a brokered sale, independent studies reveal they will get a lower price.  Many times, selling your own home is the second plan of action. It should be their first. Especially if you want to sell your house fast. When I was contacted by an author with AllYou.com the author was writing a piece for their home section, on the subject of “Should You FSBO or Hire an Agent? How to Decide What’s Best For You.” The author received so many responses to the article by home sellers saying they had chosen FSBO only after they regrettably listed their home with an agent and it didn’t sell.

The few studies that have been done on what percentage of homes do not sell while listed with an agent. The number varies from 25-50%. For some reason, we believe listing a home with an agent is a guaranteed sale. FSBO should be your first choice, not your second.

A 2008 Consumer Reports study found that nearly all homeowners in their survey who sold on their own got their asking price, while sellers using agents received an average of $5,000 below their asking price (plus the commission). Similarly, National Association of Realtors figures show the average sales price for by-owner sellers was 97.5 percent of their asking price — while sellers with agents got just 95 percent.

Want a free step-by-step guide for professionally selling your home (and keeping all the profits)?

Download our free guide ‘INSERT NAME’ that’s the ultimate ‘For Sale By Owner’ handbook for homeowners who want to maximize their home’s sale price, sell faster and pay no commissions.

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