When people decide to sell their home they do it for a number of reasons and what they net from the sale of their home is important to them. Sometimes sellers have a positive net sale - meaning they walk away from selling their home with some money in their pockets. And sometimes sellers have a negative net sale - meaning they bring money to the closing table.
As a Minnesota licensed realtor I have understood that each situation is different. Each set of buyers and sellers tend to create their own set of dynamics in the transactions of expectations, experiences and expenses. With each situation and transaction, fiduciary duties are required including loyalty, obedience, disclosure, confidentiality, reasonable care, accounting and lots of positive energy. :)
Some people are not aware of all that goes into selling a house and believe their best option may be to sell the property themselves. Sometimes this can be the case, but in other times - those sellers are missing out on many benefits of hiring a REALTOR. See the graphic below:
There is a ton of online marketing that goes on besides just listing a property on the MLS. As an e-PRO certified REALTOR, I can show you the value of my online marketing that can make a big difference in your bottom line.
In addition to negotiating with the buyer, buyer's agent, buyer's bank, the inspection company, appraiser, title company a REALTOR has access to buyers and buyers' agents.
Below is the research of for sale by owner as seen with the 2012 National Association of REALTORS® Profile of Home Buyers and Sellers:
But before you decide to sell your house, have a licensed REALTOR® meet with you to discuss how they can help you sell your home. Contact me today to set up a no obligation consultation regarding selling your property.
For Sale By Owner (FSBO) Statistics
FSBOs accounted for 9% of home sales in 2012. The typical FSBO home sold for $174,900 compared to $215,000 for agent-assisted home sales.
FSBO methods used to market home:
- Yard sign: 48%
- Listing on Internet: 32%
- For-sale-by-owner websites: 20%
- Sites with real estate listings (e.g. Yahoo!, Google, etc.): 11%
- Social networking websites (e.g. Facebook, Twitter, etc.): 10%
- Video hosting websites (e.g. YouTube, etc.): 2%
- Friends, relatives, or neighbors: 30%
- Print newspaper advertisement: 14%
- Open house: 12%
- Direct mail (flyers, postcards, etc.): 2%
- Video: 1%
- For-sale-by-owner magazine: 1%
- Television: <1%
- None: Did not actively market home: 31%
- Other: 2%
Most difficult tasks for FSBO sellers:
- Understanding and performing paperwork: 18%
- Getting the right price: 14%
- Preparing/fixing up home for sale: 11%
- Helping buyer obtain financing: 6%
- Attracting potential buyers: 6%
- Selling within the planned length of time: 6%
- Having enough time to devote to all aspects of the sale: 1%
