Selling in Leisure World? Why you should not try For Sale By Owner

By
Real Estate Agent with Weichert Realtors | Silver Spring, MD Phone Direct 240-506-2434

Selling in Leisure World? Why you should not try For Sale By Owner

Senior couple2

As home prices rise and a lack of inventory continues, some homeowners may consider trying to sell their homes on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons why this might not be a good idea for most sellers.

 

Here are the top five reasons why this is a bad idea:

1. Exposure to Prospective Buyers

According to NAR’s 2018 Profile of Home Buyers and Sellers, 95% of buyers searched online for a home last year. That is in comparison to only 13% of buyers looking at print newspaper ads. Most real estate agents have an Internet strategy to promote the sale of your home, do you?

 

2. Results Come from the Internet

Where did buyers find the homes they actually purchased?

  • 50% on the Internet
  • 28% from a real estate agent
  • 7% from a yard sign
  • 1% from newspapers

The days of selling your house by putting out a lawn sign or putting an ad in the paper are long gone. Having a strong Internet strategy is crucial.

 

3. There Are Too Many People to Negotiate With

Here is a list of some of the people with whom you must be prepared to negotiate if you decide to For Sale by Owner:

  • The buyer who wants the best deal possible
  • The buyer’s agent who solely represents the best interests of the buyer
  • The buyer’s attorney (in some parts of the country)
  • The home inspection companies, which work for the buyer and will almost always find some problems with the house
  • The appraiser if there is a question of value

 

4. FSBO ing Has Become More And More Difficult

The paperwork involved in selling and buying a home has increased dramatically as industry disclosures and regulations have become mandatory. This is one of the reasons that the percentage of people FSBOing has dropped from 19% to 7% over the last 20+ years.

 

5. You Net More Money When Using an Agent

Many homeowners believe that they can save on the real estate commission by selling on their own, but they don’t realize that the main reason buyers look at FSBOs is because they also believe that they can save on the real estate agent’s commission. The seller and buyer can’t both save the commission.

 

A study by Collateral Analytics revealed that FSBOs don’t actually save anything, and in some cases may be costing themselves more, by not listing with an agent. One of the main reasons for the price difference at the time of sale is that,

 

“Properties listed with a broker that is a member of the local MLS will be listed online with all other participating broker websites, marketing the home to a much larger buyer population. And those MLS properties generally offer compensation to agents who represent buyers, incentivizing them to show and sell the property and again potentially enlarging the buyer pool.”

 

If more buyers see a home, the greater the chances are that there could be a bidding war for the property. The study showed that the difference in price between comparable homes of size and location is currently at an average of 6% this year.

 

Why would you choose to list on your own and manage the entire transaction when you can hire an agent and not have to pay anything more?

 

Before you decide to take on the challenges of selling your Leisure World of Maryland home or condo on your own, call Barbara Michaluk, Realtor and Authorized Leisure World Specialist at 240-506-2434 to discuss how she can help you navigate a sale in Leisure World.

 

Posted by

My AR banner 2017

Barbara Michaluk, Realtor

Phone 240-506-2434

Email: michaluk@verizon.net  /  Web: BarbaraSellsMDhomes.com

Authorized Leisure World Specialist / Senior Real Estate Specialist /
Internet Marketing Specialist / Certified E-Pro / Certified Staging Agent

Weichert Realtors / 3816 International Dr / Silver Spring, MD 20906

Authorized Leisure World Specialist     Barbara Michaluk Graduate Internet Marketing Specialist Barbara Michaluk Senior Real Estate Specialist   

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Home Selling
Location:
Maryland Montgomery County Silver Spring
Groups:
Seniors Issues
Activerain MLS Online
Posts to Localism
Seniors Real Estate
55+ Active Adult Communities Specialists Public
Tags:
leisure world
sell home leisure world md

Spam prevention
Show All Comments
Rainmaker
1,026,482
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Good afternoon Barbara Michaluk 

Thank you for sharing you information with us regarding FSBO's.

Have a great day.

12/31/2018.

Dec 31, 2018 10:40 AM #1
Rainmaker
1,094,263
Barbara Michaluk
Weichert Realtors | Silver Spring, MD Phone Direct 240-506-2434 - Silver Spring, MD
Top Producing / Full Service REALTOR in Marylan

Thank you Anthony Acosta. Wishing you a happy and prosperous new year!

Dec 31, 2018 11:14 AM #2
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
1,094,263

Barbara Michaluk

Top Producing / Full Service REALTOR in Marylan
Ask me a question
*
*
*
*
Spam prevention

Additional Information