The True Facts About Selling By Owner By Serge Bourgoin
Monday, September 29th, 2014
Most people who try to sell their home themselves generally do it to save paying a commissions. But that is an illusion as you will see in the statistics provided below.
One thing that For Sale By Owners fail to think about is why a buyer would want to buy a home being presented by a For Sale By Owner? The obvious reason is to save the commission.
So how can both parties save the same commission?? Often a buyer who want to make an offer to a For Sale Buy Owner takes the asking price and reduces it by what commissions would normally be. There is no advantage to the seller.
As a matter of fact here in my marketplace of Edmonton I know that a significant portion of the For Sale By Owners either end up listing their home with a real estate agent or have their home sold by a real estate agent where the For Sale By Owner still ends up paying a commission.
If you are likely to pay a commission anyways wouldn’t it make sense to have someone to give you proper advice, get the highest selling price possible, with the fewest inconveniences?
Call us today at Team Leading Edge and ask us how we can get you the highest selling price, with the fewest inconveniences and problems. We can be reached at 780-634-8151
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. Which means real estate agents get you higher selling price and more money in your pocket.
•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%
•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%
