If you're attempting to sell your home on your own, you may want to know about "poor Norman". Check out his story in the video below.
Many people believe that they can save time and money by selling their home on their own. In reality, the statistics show otherwise. The above video and this quick blog will give you some solid facts to consider when you are deciding if you will try a for sale by owner (FSBO) or to work with a seasoned REALTOR.
In total, FSBOs made up only 9% of the home sales in 2013 and, on average, sold for $184,000. The remaining home sales that were completed through the assistance of a real estate agent sold for an average of $230,000. Further, many FSBO homes are not properly marketed. In fact, 32% of FSBOs were not even marketed at all. Here is a breakdown of typical FSBO marketing methods:
– 36% of people used a yard sign – 28% simply told friends, relatives, and neighbors – 16% used online classifieds – 14% held open houses – 13% used FSBO websites – 7% implemented social networking sites – 7% added their home to the MLS – 7% put in a newspaper ad – 1% used mail, flyers, postcards, and the like – 1% created videos
If you were to seek out the assistance of an expert REALTOR, then it has become common for them to create virtual tour marketing videos, list your home on the MLS, post yard signs, host open houses, advertise using social media, and more. Indeed, you will get much better marketing and assistance when you do not try to go FSBO. Also, some common difficulties that FSBO individuals stumble upon are the following:
– 18% understanding and filling out paperwork – 13% setting a smart price – 12% properly preparing, fixing up, and staging their homes – 7% selling their home within a planned time frame – 6% finding the time to work on all aspects that come with selling – 3% assisting the buyers in finding financing – 3% being able to attract buyers
So it is easy to see that those attempting to go FSBO will come across many problems and hassles and are also likely to make many mistakes. If you are looking to sell your home and avoid frustrations and setbacks, then contact me, Ray Wright, your local community and real estate expert. Call me today at (951) 888-0865.