The BOTTOM LINE on For Sale By Owner

Although DIY or Do It Yourself projects are very popular, there are just some things you shouldn't do yourself! The main reason people do For Sale By Owner is because there is a perception that they will be able to save money. 

FULL AUDIO AVAILABLE HERE

The Garage Sale Analogy 

Let's say you go to an amazing store like Tiffany's and see a bracelet you REALLY like.  Later on, you go to a garage sale and see that same amazing bracelet. Are you expecting to pay the same price at the garage sale as you would have paid for buying the bracelet at the Tiffany's store? 

For Sale By Owner properties are like a garage sale -- people automatically think they are going to save and get a discounted price! 

THE STATS 

• The NAR (National Association of Realtors) state that the average For Sale By Owner home sales at $175,000 as compared to the average agent assisted home that sells at $215,000. That's a $40K difference! 
• Dave Ramsey states that the average For Sale by Owner home sells for $65,000 cheaper

So your range is that a For Sale By Owner home can average to be about $40K-$65K cheaper.. that's LESS money for the owner which means selling on their own did not add to their bottom line. 

So, Who Saves the Money?

If the buyers are trying to save money when they encounter a For Sale By Owner and the seller is trying to save money by selling on their own -- who is really saving money? 

The seller is taking on more stress and hassle by taking on this project.  How will the seller end up sharing that penny? The bottom line may not be as strong as it could be, because your buyer knows you don't have an agent. 

You can hire a real estate agent to assist you in selling your home (less stress and hassle!) Make sure hire the best out there. Someone who will make sure to use mass exposure to help you find the buyers that are willing to pay what your home is worth!

You'll NET MORE Using an Agent

Just like the stats from NAR and Dave Ramsey stated! Don't leave $40-65K on the table!

What are the SAFETY ISSUES?

Think about it: when you're selling a home on your own you are hoping people will come by the house to do a walking tour. These people are often times RANDOM people that you are letting into your home!  How will you know if they are serious buyers or just casing your home and getting a look at all of your stuff?

(Most) Realtors will not  show buyers homes until they are qualified; as in, they have their full background information and have sat down for a consult. That's right, there is a process before the buyers start looking at homes they are interested in buying!  For Sale by Owner homes will risk missing out on motivated buyers who have been vetted through this process. 

My Listing By Owner Program 

 For more information on how to sell your home on your own, please be sure to check out MyListingByOwner.com

This content was presented on WOKV 104.5's REAL ESTATE RADIO SHOW. You can listen to the full audio of this segment and other segments here

SHARE: