I love the for sale by owner market! In the Grand Rapids, Michigan real estate market and the Michigan real estate market in general, trying to be a for sale by owner takes a lot of guts. I don't mean this in a bad way. What I mean is that it is tough enough to sell even when you are represented by a Realtor because there are so many homes for sale in the Grand Rapids marketplace. As of the end of May, the Grand Rapids Association of Realtors board (GRAR) reported that there were over 15,000 listings from January through May of this year. That is a lot of homes for sale and doesn't even include the for sale by owner population.
Forsalebyowner.com - Does it Work?
I don't know, you tell me? I do have an interesting story that I've heard about this website that I thought I would share. The person that shared the story with me was so disappointed with the service and the money that was spent that she swore she would tell others not to use the site. Obviously, as a Realtor I was very curious. Here's the complaints she had with forsalebyowner.com:
- She initially paid the money to be on the website, and the listing was incorrect and needed to be changed.
- When no phone calls were coming in, she looked at the website again and found that the number published was incorrect and transposed.
- She called several times about this transposed number to be assured it would be taken care of. Several times later, they finally got it right.
- After that, her listing would suddenly "not be there". She would call asking what was going on, it would come back on but would disappear again.
Obviously, this person was very frustrated with the system. Also, as a Realtor I personally can't confirm or deny how good their system is. The only thing I can do is tell you one of my stories or actually a story from a for sale by owner that I helped. Even though I provide great service, my goal is not to brag about me. It's just good to get another person's perspective about the for sale by owner process and some of the pitfalls with selling a home.
So here it is:
"I just wanted to let you know how much I appreciate all the hard work you did to sell my house. As you know, I had it "For Sale By Owner" for about 6 or 7 months with hardly any traffic and no offers. I thought because my house was in a good location and good school, I could sell it myself. And, maybe in a different housing market, I could have, but with the current house sales climate, I am so glad I had you working for me. You had great suggestions for making the house "pop" and I couldn't believe how fast my house was on the internet with so many beautiful photographs. When you drive around and see house after house for sale, many empty, it gets kind of scary wondering if your house will sell. Thanks for taking all my nervous phone calls. I know it only took you 2 or 3 months to actually sell my house, the waiting time is nerve racking. Thanks for being so patient with me. I also appreciate all the information you gave me and the phone calls keeping me up to date all the time. If I hear of anyone buying or selling, I will definitely recommend that they call you. You more than earned your commission! "
Saving on Commission
When someone tries to sell a home as a for sale by owner, they obviously want to save on the commission. I would too! It costs a lot of money to sell a home. The question you need to ask yourself is, "How much is your time worth?, Can you handle the stress of selling a home?, and What will it take in the Michigan marketplace to sell your home?"
I would be more than happy to answer your questions. For other articles and help, feel free to visit my website at: http://www.seegrhomes.com/.