DID YOU KNOW...
- Average sales price for a For Sale by Owner is 20% LESS than homes sold by an agent. According to market research, the typical For Sale by Owner sold their house for $184,000 where an agent sold homes for an average of $230,000.
- Typical For Sale by Owner ends up hiring an agent within 2-6 weeks.
- The primary reason sellers choose to sell on their own is because they think it will save them money
- The primary objective for a buyer who purchases a For Sale by Owner is to transfer the the savings of the agent commission to their bottom line.
FOOD FOR THOUGHT...
- Put yourself in the mindset of a buyer. If you went to a garage sale and saw an expensive "Tiffany" ring in it's original jewelery box, untouched, receipt attached, in mint condition, what is the thought going through your head about the price? Are you thinking about paying full retail value? Of course not. Deep discount is what most people are thinking. After all it is a garage sale.
- If you saw that same ring in a Tiffany jewelry store, what is your expectation about price? Most people know that going into a Tiffany store, you're going to pay retail price not a deep discount.
- What's the only difference? The representation of the sale. The setting in which it is sold - garage sale vs. retail.
- Think about this... You're considering selling your own home for the purpose of saving on the commission. Any buyer considering your home is also chomping at the bit to put the saving of the commission into their pocket. How can both parties save on the same commission?
- The buyer takes a huge risk by removing a professional from the transaction. This means there's little to no recourse and they can only hold themselves fully responsible for any missed diligence that an agent would normally provide. What is the incentive for the buyer to put themselves at risk if they don't get a deep discount on price?
- Most buyers and sellers go through a real estate transaction every 5-7 years. When dealing with an asset worth hundreds of thousands of dollars, would you prefer someone with daily experience or leave it to someone who's rusty by 7 years? It this the case of "blind leading the blind"?
- Think about it this way. If your only child is going into surgery, do you want a full-time proven doctor with years of experience, or someone who just graduated from college with no experience? Your real estate sale or purchase is a BIG DEAL. Treat your hard earned money with the respect it deserves.
Are you losing thousands of dollars and you don't even know it? Don't give your house away. Get help.
Call Now (904) 280-3000.
DOWNLOADABLE FREE FORMS
- Purchase and Sale Agreement
- Seller's Disclosure
- Homeowners' Association / Community Disclosure Addendum
- Community Development District Addendum
- Lead Based Paint Disclosure
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