What's the Success Rate of Selling Your Own Home?

What is the Success Rate of Selling Your Own Home?

Before we can answer that question we need to ask another question first. What is is involved in selling your home?

When selling privately you have actually decided to become the real estate agent. As the new appointed real agent you will need to implement the very same activities professional Realtors do to cause a sale, thus ensuring you a successful sale. What are some of those activities?

Here are 4 selling goals:

1. Experience minimal discomfort during the marketing stages of the sale.

2. Sell your home at the highest possible market value price.

3. Eliminate last minute surprises that often cause a sale to fall apart.

4. Sell your home in the fastest possible time frame without it negatively

    impacting price.

Now we can come to understand the successful rate and the odds of success.

The facts: According to association statistics, every year 3% to 13% of homeowners nationally attempt to sell without employing the services of a real estate company.

How many private sellers are successful? 

Only 3%to 9% of those who try are successful when selling privately.

(Failure rate is 91% to 97%)

How long do private sellers sell privately?

The average private seller will try to sell on their own for 37 days before hiring the services of a real estate professional.

Why are the majority of private sellers unsuccessful?

Was it price? Were they asking too much for their home? No! Private sales are generally priced at or near market value. Then why were they not successful?

They failed because their marketing process did not attract qualified buyers. The marketing process is more important than price. Why do we say that? It's the organized system created to increase the odds for success.

Just doing open houses, advertising and signs are not enough.

The #1 problems sellers have is how to locate qualified buyers for their home. 

The most proven system professional real estate agent and the most effective home marketing process on the planet is called the Multiple Listing Service known as the MLS.

Realtors are members of their local MLS and are ready to add your home to the list where most buyers start their search and usually end up purchasing. By being a part of the MLS you are now seen by thousands of other agents who represent qualified buyers who are ready to purchase now.