FSBO (For Sale by Owner)
Thinking of selling your home? It may be tempting to try and sell your home on your own, using a FSBO, or ‘for sale by owner’ approach to curb what you spend on REALTOR® commissions. Truth be told, successful marketing of any home or property is not easy! You need an established network of interested buyers, sellers, and real estate agents - such as you would find when listing the property with a local REALTOR®. Homeowners that choose to sell their home on their own may find that they spend a lot of time and energy showing their property to people that are not actually viable buyers. Here are some more things home sellers should know:
So, who is buying the homes that are currently on the market?
It has been reported that around 93-96% of real estate sales in this country are handled by real estate professionals. Only around 7% of home buyers are direct buyers and approximately 90% of these direct buyers are not qualified to buy the home that they are looking at in the first place. These figures demonstrate how home sellers may have an uphill battle ahead if looking to sell their home independently, on the open real estate market.
Marketing is Key
If you want to sell a home quickly, effective marketing is key. Homes that sit on the market, month after month, become ‘cold’ listings and may require price reductions to see movement. Insightful marketing targeting the right buyer may be the driving force behind selling a home - your home!
Marketing strategies vary, depending on the home, region, and selling agent. However, some typical tactics include:
- Open houses
- Private showings
- Exemplary photography
- Video home tours
- Social media platforms
- Printed materials, like brochures
- Direct mailers
- A website for the home listing
These are just a few examples of ways that sellers get their home noticed by buyers widely. Talk to your agent at Team Hensley to learn more and determine the strategies that will sell your home.
Buyers are Becoming More Savvy
If this is your first time selling a home, you should know that buyers are more-savvy than ever before, which may make it difficult to get the price and terms that you want. Enlist a seasoned sales agent that can mediate and negotiate with prospective buyers on your behalf. They are prepared for whatever potential buyers throw at them. Plus, they will work hard to get you the price that you are asking.
Think Profits, Not Commission Rates
Industry experts recommend that home sellers don’t get hung up on commission rates- but instead pay attention to net profit from the potential sale. It is too easy to waste effort and energy debating commission rates with agents. Plus, you might miss out on the agent that will sell your home for what you are asking. Think of it this way: paying a reputable real estate agent a fair commission ensures that they will put time and effort into selling the property to get paid. It is that simple; go with a pro.
Thinking of selling your home? Selling a home requires effort, energy, and time; before you opt for a ‘for sale by owner’ approach, talk to a member of Team Hensley. We have an established reputation for representing both sellers and buyers - we can help sell your home, too! Fill out the contact form below or call us today so we can figure out what your options are.