FSBO – For Sale by Owner
There are websites that have been built for those in the world that don’t think they need a real estate agent to sell their home. And I will be the first to tell you that it’s true, some – “some” – don’t need a real estate agent (realtor) to sell their real estate.
In the Santa Clarita Cities, when the market turns into a Sellers Market, we see FSBO’s start to pop up all around our valley. However, it’s not the sellers that typically have a problem with the selling of their homes, and their advertising and their marketing… It’s the Buyers.
Buyers don’t trust FSBO Sellers
“It looks Fishy Connor…”, Is a statement I heard recently from a couple of our clients that walked into a FSBO that was being held by the owner a couple of weekends ago.
“When we asked him(the fsbo seller), about using our Realtor to represent us, the seller was offended…”. “He said, there was no way he was going to allow a Realtor sell his home and that we could not buy it if we used one.” “Frankly, I thought it was a money thing, so Debbie and I told the owner we’d pay our own Realtor to represent us, so they(you), could be our guide…” “Apparently, it was not a money thing – the seller appeared to be hiding something that a Realtor might have uncovered..”
Founder of For Sale by Owner dot com
Did you hear the one about the founder of FSBO? The founder of ForSaleByOwner.com used a REALTOR to sell his home. It sounds like a great joke, and while it is terribly funny it is not a joke. The FSBO guru tried his best to sell his own property with all of the tools from his website, to no avail.
The ForSaleByOwner.com founder tried to sell his New York City condo on his own for 6 months and when he had no luck he enlisted the services of a REALTOR to help him. The REALTOR suggested that he raise his price by $150,000 and the condo was sold within weeks. The story speaks volumes for the value of hiring an experienced REALTOR.
This story also points out that using a REALTOR doesn’t necessarily mean that you will be making less money. In this particular case the seller spent countless hours, as well as his own money, on his own marketing techniques. His condo did not sell. Enlisting the help of a professional and raising his asking price got his home sold in a timely manner. The moral of this particular tale is that it doesn’t pay to go it alone when selling a home.
Bottom is hiring someone that knows what they are doing is the key to any venture in life. Whether it is needing to get a medical procedure completed or selling a home. Utilization of a Professional is the key to your(our), success.