Why do homeowners sell for sale by owner (FSBO)? We would guess that 9 out of 10 do it to save money on commissions. The other 1 out of 10 probably thinks they don't need a Realtor to sell their home.
While we get it and understand where FSBOs are coming from, we think most fail for many different reasons.
Exposure - When you list FSBO, there are very few websites where your home will be seen. A lot of real estate websites don't allow FSBOs which really limits your exposure.
Most buyers look on sites like Realtor.com and Trulia.com to name a few, and don't even think or know about FSBO sites.
When you list your home with us, it gets massive exposure on over 300 real estate websites including all of the big ones.
Qualified Buyers - We've spoken to many FSBOs that have had buyers interested in their home, but when it came time to get that mortgage they simply couldn't.
We qualify every single buyer that we show a home to before we show it and make sure that only qualified buyers are viewing our listings.
Contracts - Does a FSBO know what a purchase agreement is and how to read all 7 pages of it? What about an Alternative Dispute Resolution Addendum? Do you know how to word the inspection response so you are protected?
In a home sale in Indiana, there are an average of 10 different forms that are used.
We know these like the backs of our hands.
Negotiating - There are so many things to negotiate in a home sale including purchase price, possession, closing costs, earnest money, closing date, place of closing, home warranties, surveys, closing fee, appliances, personal items, inspections, etc.
We handle these things every single day.
Preparation - HGTV has plenty of shows about how to get your home ready and decorating ideas, but not everything from those shows apply to every market.
We have saved clients money by helping them with ideas about what they should and shouldn't do before listing. We also work with an interior designer that came come in and help as well.
Presentation - Anybody can take a picture, but it does take some training to learn how to shoot a home to present the best light possible.
We hire a highly skilled photographer to take pictures of our listings. We also use drone photography and video when needed.
Home inspections - What qualifies for a major defect? What rights do the buyers have if the inspection finds black mold? What if there are foundation issues?
We've handled both major and minor inspection issues for both sellers and buyers.
Price - The history of sold homes is public record. Anybody can get online and find other sold homes and come up with an idea of what theirs is worth, but are you comparing apples to apples?
We know the Fort Wayne real estate market. Almost all of our sellers get 95% or higher of the sales price because we know how to price homes correctly.
Title insurance - Do FSBOs even know what title insurance is and why it's important?
We have very strong relationships with a few title companies that always get the job done.
Appraisal - Who orders it? What is it? What is the appraiser looking for? What happens if the appraisal comes in low?
We know exactly what appraisers are looking for. We've had a small handful of appraisal issues over the years so we know how to handle them.
With so many issues going against FSBOs you see very few of them in the real estate market here in Fort Wayne.
A National Association of Realtors survey shows that less than 10% of FSBOs actually sell.
Why go through all of this hassle yourself? Let us do the work for you and let our experience help you not have a BAD experience.
Feel free to give us a call at (260) 704-0843. We'll even come to your home and give you a free consultation on everything that we have to offer.
Hope to hear from you soon!