Wondering how to sell your home? Do you use a Realtor or do you try to sell on your own?
Many home owners are facing a crossroads and having a hard time deciding which way to sell. Here are a few fact not suggestions not slanted view point...just plain facts.
So if you are looking at the percentages...it may be in your best interest to find a Realtor that offers the marketing and selling program that is cost effective to meet your needs.
"For Sale By Owner" save thousands of dollars in commissions....that is true....for 16% of those that do sell...here is another little fact...of the 16% only 12% of those selling were arms length transactions. That means that 4% of the 16% were related to each other. So the success rate just dropped to 12% unless you are selling to your mom, cousin, brother or sister.
Does this mean you only have a 12% success rate if you decide to sell on your own? NO, it means for the average seller this is what they are facing with the standard "For Sale By Owner" program. Is there a way to tip the odds a little more into the "For Sale By Owner" favor? Yes, but this too takes a bit of time and research....along with training.
How much commission does a home owner really save? Here is another fact...if you do not offer a Buyer's Agent (Realtor) a commission they have no incentive to bring a buyer to your home when they can show other homes that meet the needs of their buyer and get paid! So you could save all the commission and never sell! On the other hand by offering an acceptable commission to the Buyer's Agent you could save half the commission less your "For Sale By Owner" listing package fee.
Listing on the MLS service that Realtor's use. Many home owners do not know that many of the MLS sites that are on the Internet are not affiliated with Realtors at all...they only list homes and the general public can place a home on these "FAKE" MLS sites. You pay a fee thinking your home is going to be seen by local agents and buyers. This sadly is not the case for many uninformed home sellers trying to publicize their property. They spend their hard earned money and they are the only ones that know their home is listed on the "FAKE" site.
Realtor MLS sites only allow member Realtors to add or delete homes on their Internet sites. This means that the information tends to be more accurate. The sites are monitored for content and have strict rules on how and who can list homes. So having your home included on a "Realtors MLS" can be a big advantage. Not only do buyers find your listing...because it is likely your are listed in a search engine where placement is higher and easier to find.
Since I have your head spinning with these facts maybe you would like one more. "For Sale By Owners" end up selling for 6 to 8% less than when a Realtor sells the same home! This is according to the National Association of Realtors study. The reason is very simple. Most home owners price their homes wrong. Another reason most home owners become anxious with the selling process and give concessions to sell thinking they are saving on commission and have more room to negotiate. The fact is they pay one side and negotiate away more than they would have paid to be represented.
How can you decide which way is best for you? Here is a few guidelines.
How much selling and marketing knowledge to you have? If the answer is very little....you have to look a bit deeper before deciding to sell on your own.
Look at the For Sale By Owner program....does it give you the options you need? Do you know what you need?
Photo Listings is a must...would you look at a home you can not see a photo of before calling? Most likely NO is the answer.
Internet Exposure, does your home get the search engine exposure? Can buyers find your home?
Yard Sign, does it look professional or is it one of those blow side ways in the wind kind with the little wire stakes? A better sign makes buyers feel like you care...cheap means deals...bargain hurter prices for your home.
Brochures, can you print your own brochure on demand?
Can you add the Realtors MLS for a fee, if you want to maximize buyer exposure?
Can you take phone calls direct and set up your own appointments...or does the company screen your calls and take your buyers for themselves?
Paperwork, are you supplied with your selling documents or do you have to buy them?
Can you get help with filling out your documents?
Do you negotiate your own sale or can you get help if needed for an upgrade fee?y
Who closes the sale for you? Can you get a referral to a title company? Attorney?
How do you handle inspections and repairs if needed?
Are there classes offered to help you prepare for the selling process? How much is the cost?
This is only part of the issues "For Sale By Owners" face; you can sell your own home with the right selling program.
If you want a program that offers you the opportunity to sell on your own... www.OwnMax.com "Owner Options Maximized" has a website that offers you everything you need along with a 2 hour workshop to help you sell. Check out their website in Michigan. www.OwnMax.com Flexit Realty is committed to making sure you have selling options. We offer a full service option or the www.OwnMax.com option your home, your family your choice. "Our only goal is helping you reach your goal with a "SOLD" sign in the front yard!"
We will be publishing the next sellers workshop date in a city in Michigan near you. Check either website for the schedule.