Choosing how to sell your home
You essentially have two choices once you have made the decision to sell your home.
You can either sell it yourself, or you can hire an agent or broker to do it for
you. It is possible that, depending on your abilities, (I.e. lack of time, the elderly)
that you may have to hire an agent to complete the process for you. For many, however,
the prospect of making thousands of extra dollars from the sale of their property
is just too good of an opportunity to pass up.
In 2005, a study was conducted by the National Association of Realtors to determine
the satisfaction level of those who chose to sell their home themselves as opposed
to those who chose to hire a realtor or broker to sell their home or property. The
study found that approximately 80% of those surveyed were very satisfied with the
FSBO process, while only 3% were very dissatisfied. Only 65% of those who chose
to hire a realtor described themselves as very satisfied, while 5% were very dissatisfied.
While this shows people are generally happier selling their home themselves, the
real shocking part of these numbers is that this survey was conducted by REALTORS,
and the questions only addressed the PROCESS. It would be reasonable to assume that
after saving thousands in fees and commissions, someone selling their home "by owner"
would have an even higher level of satisfaction at the completion of the process.
To emphasize this claim of saving thousands of dollars, a 2007 study by two economists,
at the prestigious Northwestern University, found that home sellers got a statistically
equal price for their home whether using an agent or selling their home FSBO. HOWEVER,
the economists concluded that this meant FSBO home sales "netted a significantly
higher sale price for the home owner" because of the omission of commissions and
other fees that a realtor will charge.
One of the biggest drawbacks to hiring a realtor is the lack of monetary incentive
they have to market your home aggressively to get you the best price. The more a
realtor spends, the more it cuts into their profits. Even if he is able to get an
additional $10,000 for your home to raise funds for marketing, that only means approximately
$600 more for them. This $600 can easily be blown in advertising, and the added
price drastically reduces the ability to sell the home. This can put the agent and
the home owner in a real "catch 22" situation that adds to the overall dissatisfaction
of using a real estate agency.
Realtors will often warn people trying tell sell their home themselves that the
legal and tax issues are just too complex for an amateur to understand. This may
very well be true! HOWEVER, this doesn’t mean that you need a realtor. Ironically,
these issues are also often too complicated for a real estate agent to understand
as well. At the risk of sounding too harsh, the fact is that a state certified real
estate license can be obtained with as little as 50 hours of training. It takes
roughly 1000 hours of training to become a state licensed beautician to cut your
hair! That is why agents turn to a real estate attorney to prepare and review the
contracts involved in the selling of the home. You can do this just as easily as
they can. There are plenty of specialized local attorneys who are ready to assist
you, with no need for the middleman and their fees.
One little known fact is that realtors often choose to use companies like Central
Florida For Sale By Owner to sell homes that they have already locked into a contract.
We are able to drastically cut down on most marketing costs and time by providing
easy to use templates for blogging, using Craigslist, printing fliers, open house
schedules, having a developed web address, social media, yard signs, and Google
mapping. The difference, however, is that EVERYONE can use these features, and it’s
always the same low price! CFLfsbo.com has thousands of potential buyers browsing
the website every month and they see a home sold by owner just as they see a home
sold by a real estate service.
Central Florida For Sale By Owner was designed with people in mind. We have a price
that is affordable for low income and fixed income customers, as well as the ability
to save home owners thousands with the vast number of services we offer everyone.
Selling your home FSBO is the future of home marketing, and we are clearly on the
cutting edge of technology AND price. We can help you not only survive, but THRIVE
in this current housing market. So,
click here to join the future today!