So you are thinking about selling your home as a For Sale By Owner or you have chosen to not use a St George Realtor and look at and or attempt to purchase a For Sale By Owner on your own. Both of these choices are very scary propositions and i am going to help by sharing some valuable professional information. I speak from years of experience buying and selling St George Utah real estate. This information will apply to almost every scenario of for sale by owner real estate purchases across this great country. So I hope you find this information helpful. Below are some quick stats right from the 2013 National Association of Realtors. My experience tells me this is very accurate. Sellers who use a real estate professional make 16 percent more on the sale of their home than do sellers who go it alone. Unrepresented sellers often do not understand the complexity, range and timing of tasks they will have to perform if they don’t use a professional. REALTORS® are real estate professionals who are experts in marketing and negotiation. REALTORS® can help a seller set a realistic price and ensure the proper paperwork and various disclosures and inspections are handled correctly. REALTORS® know best how to prepare a home and maximize value, provide broader exposure to the market and are more likely to generate multiple bids than a seller on their own.
In addition, REALTORS® are experts in attracting qualified buyers. A professional can show a home more objectively than can a seller who may be emotionally attached to the home, and who might become unnerved by prospective buyers’ critical comments. The real estate pro also checks the financial capability and bona fides of buyers before allowing them onto a seller’s property.
For Sale By Owner (FSBO) Statistics
- FSBOs accounted for 9% of home sales in 2013. The typical FSBO home sold for $184,000 compared to $230,000 for agent-assisted home sales.
- FSBO methods used to market home:
- Yard sign: 36%
- Friends, relatives, or neighbors: 28%
- Online classified advertisements: 16%
- Open house: 14%
- For-sale-by-owner websites: 13%
- Social networking websites (e.g. Facebook, Twitter, etc.): 7%
- Multiple Listing Service (MLS) website: 7%
- Print newspaper advertisement: 7%
- Direct mail (flyers, postcards, etc.): 1%
- Video: 1%
- Other: 2%
- None: Did not actively market home: 32%
- Most difficult tasks for FSBO sellers:
- Understanding and performing paperwork: 18%
- Getting the right price: 13%
- Preparing/fixing up home for sale: 12%
- Helping buyer obtain financing: 3%
- Attracting potential buyers: 3%
- Selling within the planned length of time: 7%
- Having enough time to devote to all aspects of the sale: 6%
For buyers the story is simple and clean. I would ask myself why? Why do I want go this alone when a skilled professional Realtor won’t cost me penny and I get the benefits of a professional on my side! A Realtor can negotiate the sale with a for sale by owner so no worries about that. As a buyer a seller will take you seriously and actually looks forward to a buyer that has a Realtor representing them! You don’t have to look too far for the answer. One is a professional will make certain that the potential buyer is fully qualified to bring the transaction to a successful conclusion in the least amount of time. As a professional myself I always prequalify my clients prior to showing them homes or any St George Utah real estate. Recent studies have shown that 92% of buyers search online for a home. That is in comparison to only 28% looking at print newspaper ads. Most real estate agents have an internet strategy to promote the sale of your home. Do you?
Hope you enjoyed this post. If you need any questions answered about St George Utah For Sale By Owners feel free to contact me. It doesn’t matter if you’re a seller or a buyer I am happy to share my knowledge about selling or buying from or as a for sale by owner.