Thinking For Sale By Owner: Think Again!

By creating the illusion that it's much more cost effective to use For Sale By Owner models, are these companies really being truthful with consumers about what happens in the real estate industry? They offer cheaper rates to get your home listed on the MLS, provide you with "for sale" signs and offer some real estate related services, but the real question is: who's bringing the buyers to the table?

"Although, on the surface, it looks like a good deal," says Lee Redwood, Vice President of Sales at Sundaybell Inc., "the truth of the matter is that licensed real estate professionals represent the majority of buyers. These agents end up negotiating a buyer's agency commission with the For Sale By Owner company, enabling the agent to show a potential home to their client. So, in essence, a commission is being paid anyway."

How does a FSBO homeowner really know at what price to sell for? Recent research showed that a certain For Sale By Owner company suggested to sellers that the sales price of their property should be based on a bank appraisal plus 3-5%. "Without an accurate property assessment and knowledge of property values in the area, along with a good evaluation of the local market and the expertise of a real estate agent, this is like taking a shot in the dark," states Andrew Brest, Vice President of Marketing. "Do you really want to leave an assessment of what is probably the largest asset in your personal portfolio to a 'shot in the dark' approach?"

Homeowners want to save money when selling their homes, but FSBO isn't the only model that makes it possible to do so. Sundaybell offers the general public, consumers and agents the opportunity to meet online in a no-pressure environment and really take a look at what the real estate business, including fee structures, entails.

"Real estate agent or commission free: it really is up to each individual buyer or seller. That said, if maximizing your returns and ensuring you are making the right purchasing decisions are of interest to you, as well as saving some money, then www.sundaybell.com should be your starting point," says Brest.

Once profiled, consumers and real estate agents are matched at www.sundaybell.com using a proprietary system that identifies key services, commission structures, rebates and other information within their profiles. It only takes a few minutes to create a profile and the site offers other additional educational material to assist in the overall process.

To learn more about Sundaybell, visit www.sundaybell.com.