The two reasons Metro Detroit FSBO's don't sell are:
- The for sale by owner house is overpriced.
- The FSBO is not advertised in the right places
Advertising is what sells a house. Getting it out there that your home is for sale. Whether you are a for sale by owner or have your home listed by a real estate agent it needs to be advertised.
The number 1 reason that for sale by owners don't succeed is the lack of advertising.
You need to have:
1) a for sale sign out front with a phone number that goes to you directly
2) listing brochure out front of the house with all the facts of the home (the data sheet)
3) getting listed on the local Realtor multiple listing service.
By being listed on the local MLS (multiple listing service) in Michigan your home's information is put on multiple websites like www.Realtor.com and www.moveinmichigan.com . Your home is available to thousands of real estate agents and their clients by having an exclusive right to sell contract with a Realtor. Your home is on the INTERNET and available to thousands of real estate agents across Michigan 24/7. Whenever a client comes in and asks about Michigan Real estate and the criteria meets your home's criteria,.... your home will be one of the homes that will be emailed or shown to the prospective client.
That is why most FSBO's don't sell, they don't reach a big enough buying audience. It's that simple. For sale by owners don't have the time or dedication to put the advertising out there.
They can get listed on the MLS but if they do not have an exclusive right to sell contract then they may not even be pulled up by the Realtors.
The MLS was set up by Realtors so their clients and themselves can advertise and see all the properties listed easily any time of the day or night. The MLS is the give and take of information, and advertising at the touch of a few buttons. (That is not available to most for sale by owners)
Sure a for sale by owner that advertises well, has open houses, has good traffic by the house, puts the word out to his neighbors, family, friends, and co-workers will have a good chance of selling their home if it is in good conditions and priced right for the market.
Many For Sale By Owners get sucked in by some of the For sale by owner websites. Sure it is a website but it is not the real website to be on. You need to be on the local realtor MLS website to help get your home sold. Lots of homes get sold without being on the realtor MLS but in this tough real estate market it sure helps to sell your Metro Detroit home quicker.
But over 80% of the homes are sold by Realtors, real estate agents, and the MLS.
So if you are thinking of selling your house, advertise, advertise, advertise! And don't make thetwo reasons Metro Detroit FSBO's don't sell. Price your home right and get it listed on the local real estate MLS.
Russ Ravary your Metro Detroit real estate agent
Feel free to call me or email me if you are thinking of selling your Metro Detroit home.
cell 313-310-9855
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