I’ve become a very savvy computer whiz through my former education in Math & Science, being a former educator and having all of those SEO’s on ActiveRain teaching me and all of the other co-computer savy REALTORS®. The Information Era is here to stay!!!
Today, salespeople who accept & embrace the internet ultimately make their businesses more profitable, while the Realtor who chooses to ignore the internet usually pay the price by going “Out of Business” very quickly. The Realtors who recognize this & make it easy for their consumers to access their information and see what makes them superior also succeed in generating many more sales. We have on our fingertips, the ability to analyze our customer’s behaviors by the way they navigate on our particular websites. That can tell you a lot about your local customers.
So the question is; Will it create more FSBO’s (For Sale By Owner)? No, only if we educate the uneducated consumer on the benefits of using a REALTOR®.
Today, many uneducated consumers fail to see the value of the services of a REALTOR®. Consumers want to save on the commissions, but many don’t get the proper exposure of their property to their potential buyers. With today’s fluctuating market, many of these FSBO’s are either priced too high or too low. Therefore consumers don’t have the most accurate info on their fingertips about what their property is really worth. These consumers are NOT prepared for the disturbing phones calls, unqualified buyers and stressful negotiations that will be needed. The FSBO owner isn’t aware of the potential legal current issues needed before closing their property.
For Sale By Owner (FSBO) Statistics from 2008 NAR Source: 2008 National Association of REALTORS® Profile of Home Buyers and Sellers
FSBO’s accounted for 13% of home sales in 2008. The typical FSBO home sold for $153,000 compared to $211,000 for agent-assisted home sales.
FSBO Methods Used to Market Home:
- Listing on Internet/FSBO website: 45%
- Yard sign . . . 42%
- Friends/neighbors . . . 33%
- Newspaper ad . . . 22%
- Open house . . . 18%
Most Difficult Tasks for FSBO Sellers:
- Selling within the planned length of time: 13%
- Getting the right price: 12%
- Preparing/fixing up home for sale: 11%
- Understanding and performing paperwork: 10%
- Having enough time to devote to all aspects of the sale: 8%
Online FSBO’s offer a variety of services such as; online advertising or auctions, possible time on a cable network, sign kits, brochures or guides on how to sell your home, staging, lawyers, appraisers & access to mortgage brokers. They can charge home sellers $300-$1,200 depending on the services requested. The best part is that most consumers are not aware that these are all available for FREE from most real estate board offices, realty companies and their salespersons.
The BIGGEST problem here is those FSBO consumers don’t have access to the huge group of salespersons and their buyers, since they are NOT part of the REALTORS®' MLS listing system. So the homeowner is basically isolating themselves & their properties by eliminating most potential buyers and salespersons.
Professional REALTORS® will:
1) Receive all the calls: good & bad.
2) Ensure that only qualified buyers see your property, thus eliminating people who are just “nosey” and endless traffic in your home.
3) They gather all the feedback from potential buyers.
4) Address the sellers on any concerns coming out of the showings.
5) Discuss the latent defects that are usually not readily observable by the seller themselves.
6) Will negotiate the best possible deal for their sellers, from their exposure to negotiations on a daily basis.
7) Your successful agent will know how to find the right info (online or offline) and use it to their seller’s advantage.
8) Are aware of the time constrictions of their sellers and will help to sell it on a timely manner.
Now, knowing this, my question is; "Why would you not hire a REALTOR® to sell your home?"