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Need assistance in making an informed decision on whether the For Sale by Owner (FSBO) route is for you? Find out why Caveat Emptor - buyer beware - applies with some FSBO homes.
BUYERS: There are some very good FSBO deals out there. However, there are homes for sale by owner that are also greatly over-priced, some by $10,000-$30,000 and more. To be fair, there are also lots of real estate listings that are over-priced!
Are you able to distinguish between For Sale by Owner homes that are listed at fair market value, modestly over-priced, or really over-priced? A buyer's agent can help negotiate a fair price, protect your interests, and remove emotion from the equation with a professional market analysis of the home you wish to purchase. The best part is that a buyer's agent does not usually cost the buyer any money, and your interests are protected when you work with an experienced Realtor (see Buying-Selling Homes). SELLERS: Buyers not finding you? As a successful For Sale by Owner before becoming a Realtor, I am uniquely qualified to assist you in this process. If you are selling FSBO, there are some questions you might consider asking before listing your home on a FSBO internet site.
- Do the For Sale by Owner sites that you visit post their success rates - the number of sales-to-active listings ratio, and their listed price-to-sales price ratio? If not, will they give you the statistics when you ask? If their numbers are not forthcoming, why would they hide information from you which is readily available to them?
- Do the For Sale by Owner sites that you visit use deceptive marketing tactics to secure your home listing? A 2003 study of the homes that were marked "Sold" in a popular Canadian FSBO publication, revealed that many of the homes were not sold by owner! They were sold on Canada's Multiple Listing Service (MLS) by a Realtor!
- For Sale by Owner sites promise to save you thousands of dollars in Real Estate commissions but do they really? By nature, For Sale by Owner - FSBO - shoppers are looking for bargains. Are you ready to be a target for low-ball offers? Do you know how to handle them when they come in?
- With so many For Sale by Owner websites on the Net and more cropping up daily, consider the monumental task that buyers face trying to find you!
- Why do most FSBOs eventually list their homes with a Realtor on the Multiple Listing Service (MLS)? One reason why is that the MLS marketing system is unparalleled for putting buyers and sellers together.
- Most buyers use Realtors, so marketing to Realtors is essential. Do you have a marketing plan in place for both Realtors and Buyers?
If you are thinking of selling your house For Sale by Owner, if you are thinking of purchasing a For Sale by Owner home, or if you are looking for more information before you make your decision, who better to contact than an experienced FSBO? Moreover, as an experienced FSBO, I respect and support the seller's decision to sell privately when they have made an informed choice.
For exceptional service, honest answers, and no pressure to list, contact me today, or download some of our resources in the Home Buying and Home Selling sections.
Elke Babiuk, Calgary Real Estate Agent, MaxWell Realty
For Service Beyond Outstanding – FSBO
Sold on Service and Sold on Calgary
A happy for sale by owner...
Dear Elke,
I just wanted to say thank you for all your help and advise you gave me. I am happy to report that I was able to sell my home as a FSBO. The conditions have been removed and it's a done deal now. Just have to pack.
You have given me lot's of good advise and I think you are a good agent. I wish you luck in your endeavors although I'm sure you don't need any. You have great follow up and are very personable and I would not hesitate to recommend you to a friend if they were looking for a real estate agent. I appreciated your efforts and help. Your kindness won't be forgotten.
Take care, Loretta
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