For Sale By Owner | Do Not Make This Mistake

For sale by owner (FSBO) as it is also know, has some great fatal traps for sellers. Motivations are generally different from that of most reasonable sellers and of course Realtors. Sometimes sellers mistakenly think that avoiding a Realtors commission and  maintaining control is in their best interest, but it is clearly not according to the historical statistics. The statistics show that many FSBO's simply fail to sell. Why is that? First and probably the most common is PRICE. Sellers don't know how important pricing real estate is in the process of entering the "for sale" market. Most FSBO sellers think that testing a higher price is the first step in listing their property because they can always reduce price later. In essence, they prolong the entire sale period, and mistakenly lead buyers into caution about making an offer. Second, the buyers that make offers to FSBO's are mostly bargain hunters looking for a good deal from unrepresented sellers. FSBO sellers are not saving a commission because buyers already factor that Realtor commission savings into their offers. MOST IMPORTANT, most serious buyers are looking with a Realtor. Can you hope the REALTOR will even show your property on their tour for their client buyer? Think about it.
  • March 09 2012 - Naples
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Answers (4)

However, those complicate matters are easy to solve.

* Hire at least 3 local realtors to do the Comparative Market Analysis (they do it for free, mostly) to get the idea on the home price then do the FSBO for yourself.
* Offer 2%-3% to the buyer agents, I almost certainly they will show your home to their buyers.

  • March 09 2012
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"Can you hope the REALTOR will even show your property on their tour for their client buyer? Think about it."

If enough of these comments by REAs are made, and there is an ability to demonstrate that REAs avoid FSBO in favor of traditional listings, even when there is a buyer side commission offered, then could the REA industry be exposed to "unfair practice" or "monopoly" class actions?
  • March 09 2012
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Its not a FSBO its an unrepresent seller....not only that but with most relocations, FSBO's are not an option....amazing that a person would never dream of setting their broken arm and go to a doctor, but they think they can sell their most important and valuable item without profession help!
  • March 10 2012
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Profile picture for Dunes ..

I'm sure Consumers everywhere are properly impressed and swayed by the Top Notch Marketing efforts of  RE Agents to Prospect FSBO's....


  • March 10 2012
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