Ready to Sell Your Home? Should you try to sell it yourself?

NO!  Why? There are many reasons you should not try to sell your own house. Here are just a few:

  • MLS – FiSBOs (For Sale By Owner) homes will not be listed on the MLS (Multiple Listing Service). Only licensed Realtors can post a home to the MLS and home buyers working with a real estate agent search the MLS for houses to show to their clients.

    Home for sale in Louisville, Realtor

  • In general, real estate agents won’t show FiSBOs because they have no guarantee of being paid. The main reason home owners try to sell their own house is to save money. Therefore, even if they offer a commission to real estate agents in the transaction, it is generally much less than the agent would earn with a Realtor listed house.
  • Would you do your own surgery?  Of course not! And while selling your home may not be a life threatening event, it can be a legal nightmare. Sellers can get in a lot of legal trouble if they don’t know what they are doing.
  • FiSBOs typically sell for less money. See stats below
  • Buyers may be intimidated by a FiSBO. Real estate agents have certain legal obligations to their clients which a home owner selling their own house, does not. Many buyers feel uneasy dealing directly with the seller of a house, without a Realtor representing their best interests.

 

Some FiSBO stats:

For Sale By Owner (FSBO) Statistics

FSBOs accounted for 9% of home sales in 2012. The typical FSBO home sold for $174,900 compared to $215,000 for agent-assisted home sales.
FSBO Methods Used to Market Home:

  • • Yard sign . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 48%
  • • Listing on Internet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32%
    • For-sale-by-owner websites . . . . . . . . . . . . . . . . . . . . . . . . . . 20%
    • Other websites with real estate listings (e.g. Yahoo, Google, etc.) . . . 11%
    • Social networking websites (e.g. Facebook, Twitter, etc.) . .  10%
    • Video hosting websites (e.g. YouTube, etc.) . . . . . . . . . . . . .     2%
  • Friends, relatives, or neighbors . . . . . . . . . . . . . . . . . . . . . . . .  30%
  • Print newspaper advertisement . . . . . . . . . . . . . . . . . . . . . . .   14%
  • Open house . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  12%
  • Direct mail (flyers, postcards, etc.) . . . . . . . . . . . . . . . . . . . . . .  2%
  • Video . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   1%
  • For-sale-by-owner magazine . . . . . . . . . . . . . . . . . . . . . . . . . . .  1%
  • Television . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  <1%
  • None – Did not actively market home. . . . . . . . . . . . . . . . . . . . 31%
  • Other. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  2%

 

Do yourself a favor. Leave the home selling process to a professional Realtor. You’ll be glad you did! 

Bruce Moore, Realtor
RE/MAX First
Louisville, Ky
502-640-6861 

ABR – Specialist in working with Home buyers.
E-Pro – Specialist in using the latest Technology to help buyers find and buy their dream home.
IRES – International Real Estate Specialist

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