For Sale By Owner - Why Do They Do It?

Real Estate Agent with Keller Williams Shore Properties 1005238

     As we all know, owners who try and sell their own home are doing it for one reason and one reason only; To save money!  But what most sellers don't realise is that, according to the latest statistics, they will actually get less for their house when trying to sell on their own; The typical FSBO home sold for $153,000 compared to $211,000 for agent-assisted home sales.  What?  Yes, that's a 58,000 dollar difference!

      What else doesn't the FSBO know?  When an owner puts their property on the market themselves, they are subject to all the laws that apply to the sale of any real estate and ignorance of state and federal real estate laws are not a viable defense if sued.  Sellers usually never talk to an attorney until after the process has started.  By then laws pertaining to, property disclosure, fair housing and lead disclosure may have already been broken.

     FSBO's never seem to think about personal security either.  Who would willingly let strangers walk into their home without hesitation or asking for any identification? A pertinent question to ask a FSBO is this, "if I strolled up to your door before you put your house up for sale and asked to look around, would you let me?"  Of course they respond, 'no.'   I then ask the rhetorical question, "how does the sign in your front yard negate safety concerns for your spouse and family?"  It doesn't!  But FSBO's very rarely think in these terms, they're thinking, "I have to sell my house, so I'll do what's necessary."  

     While crime isn't a factor for home sellers in my market area, from Point Pleasant Beach to Barnegat to Little Egg Harbor along The Jersey Shore, people need to be aware of the possible ramifications of trying to sell thier own home.  

     To me the problem, as with most things, is lack of knowledge.  We, as professionals need to educate those FSBO's about the true nature of selling their house on their own and that we can help...AND make them more money! 

Karl Hess, Barnegat Homes and Real Estate

Your Agent on The Jersey Shore

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 Licensed in New Jersey.  Keller Williams Shore Properties 

1400 Hooper Ave. Toms River NJ 08753 Phone: 732-797-9001





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Donna Harris
Donna Homes, powered by JPAR - - Austin, TX
Realtor,Mediator,Ombudsman,Property Tax Arbitrator

To be fair, the average is typically lower for FSBO because sellers in the higher ranges realize they need an agent so it's mostly lower-end sellers trying it themselves.

But overall, FSBOs still tend to net significantly less than sellers that are represented.

Jun 28, 2010 06:28 AM #1
Richard Green
U.S. Cybertek, Inc. - Houston, MO

My sister just sold her own home, the reason? The last Realtor she worked with was a total joke. So I can understand her reluctance to work with another one. However, do I think that she would have gotten a much better price for he home if she HAD used a Realtor? Yes, yes I do. It's a matter of showing the seller that you are committed to helping them get the best price for their house and ensuring that your professional conduct, is exactly that, professional.

Jun 28, 2010 06:50 AM #2
Karl Hess
Keller Williams Shore Properties - Barnegat, NJ
on The Jersey Shore

Thanks for the encouragement first blog on ActiveRain! 

Jun 29, 2010 09:43 AM #3
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Karl Hess

on The Jersey Shore
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