Let's get real about forsalebyowner.com people.
After a considerable amount of studying how this for sale by owner system works two things stand out to me - they supposedly hate realtors, yet their entire philosophy is based on what we do as professionals and all the tools they provide you are the same things you can get in any store or online yourself.
The fact that this site actually tells its consumers to stop wasting money on realtors offends me. When they say you can save thousands by selling your home on your own they conveniently leave out a lot of very important facts. The amount of time and effort put into selling a home is a full-time job, so if you already have one of those then how are you going to do it on your own? Do you have the time or knowledge to show up for every, single showing including weekends, the ability to answer every single phone call and email, the ability to scan a contract and make the proper decisions before signing, how to effectively market your home besides a stupid sign that they place so much emphasis on, how to actually show a property effectively, how to negotiate a contract, what entails an as is contract versus a traditional one, and your responsibilites as a homeowner prior to closing? Probably not. And even with their BS hotline for answering your questions are you going to be able to call them every few minutes something comes up?
Oh, but it gets so much better. All of their fees are charged up front. If you don't sell your home they offer a money back guarantee. Wonderful, if you list it with one of their realtors! And why you ask? So that the money they give back to you will be given right back to them via referral from the realtor they hire! You have no choice in the matter. And this refund comes only after you sell your home by the way.
Now here is how their fail safe home selling system works. Give them a few bucks and you get on their website. A monkey could do that. And where does it go you ask? Craiglist.com for crying out loud. And this is charged monthly by the way. Or you can upgrade their multi-media package, which is a fancy phrase for pictures anyone can do for free. And then for $549. they will add you to Zillow, the single most unreliable real estate site on the planet. All this will get you is a whole lot of tire kickers. And finally, my favorite, the MLS enhanced package. And why would they offer this when they hate realtors? Because it works when a realtor is involved, period. This costs a whopping $699. up front dollars + 3% to the selling agent and you still get to do all the work! Now how much is your time worth?
Next time you get hooked into one of these FSBO sites that seem to be the cure all to the realtor remember these facts; The national average sales price of a home sold with a realtor are 30% higher than by owner and more than 80% of homes sold are on the MLS with a listing agent. And finally, real estate brokerages are actually in more demand today than they have been in recent history. The bottom line then is this - no matter how much money you think you are saving or how much you think you know about the business you are always much better off with an experienced, knowledgeable realtor, period. So stop wasting your money and time with a real estate website that may have had a few success stories, but in the long run, really is the worst way to go when selling your home.
In conclusion, however, I'd like to ask all of you out there one question. If you were having heart surgery tomorrow, or were audited by the IRS, or were signing an NFL contract, or were on trial for murder would you represent yourself or hire a professional? Real estate is no different because it is one of the single most important and biggest decisions you will make in your life. Shouldn't your financial future be in the right hands?
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