Realtors sell 92% of all homes in Pensacola, Florida while appoximately 8% go at it alone commonly know as the For Sale By Owner.
So why do Realtors seem to get more qualified Buyers? I think it comes down to TRUST when you have many many homes to sell you don't have to push to sell, you can let the buyer buy.
The For Sale by Owner in Pensacola is looking for one buyer while a Realtor is looking and advertising for many buyers. As a Pensacola For Sale By Owner what type buyer are you looking for?
The Relocating Buyer -
This type of buyer is being transfered by their company who pays for most of the cost associated with the move and generally wants to work with a professional Realtor. These buyers usually have a limited amount of time to find a home, and searching ads would be too time consuming. While these buyers are highly qualified to buy, they are moving into unfamiliar territory and generally prefer to utilize a Realtor that can show them the best homes in the shortest amount of time. The Relocation Buyer is one of the best buyers since they are highly qualified and ready to buy or shall we say must buy!
Special Needs Buyer -
This home buyer will generally work with a Realtor because they have certain requirements or features that they desire ( pool, large lot, unique amenities ). This buyer has a tendency not to purchase nearly as quickly, and may end up looking at newspaper ads or online to find what they are looking for. If they do not find it quickly, they will end up calling a Realtor, who has search programs to assist them in finding a home with that special feature. This is typically not the best for a For Sale By Owner due to the one home sale vs the many homes that a Realtor has available.
Discount Buyer -
This buyer is always looking for the best deal and would prefer that a Realtor not be involved so that they can try to lowball the seller. These buyers are professionals at this. This buyer rarely pays fair market value, and hopes to enter into a legal contract for the sale of the property at a discounted price. With this buyer, it is highly recommended that you as a For Sale By Owner enlist the services of a Realtor to protect and represent your best interests. Discount Buyers can become very demanding as well once they have a contract especially if it open ended and repairs and closing cost were not addressed.
Non Qualified Buyer -
This buyer, unfortunately, can not qualify to purchase a home. Most have already spoken with a Realtor, who more than likely, recommended they speak with a mortgage broker to become pre-qualified; however, they found out that they do not qualify to own a home the traditional way. This buyer will then call For Sale By Owners hoping to find a seller to enter into a lease purchase, or rent to own contract, realizing the seller has no true way to check their qualifications. This buyer will always go after For Sale By Owner.
Investors / I buyer
The basics of an Investor/ Ibuyer is this, take the appraised value of a property usually using their appraiser that they have sent many deals to and will shave the value to the bare minium, they the investor will minus off all the cost associated with repairs that their contractor says will put the house back in top saleable condition. Then they will take off an inflated closing cost that they say you as the For Sale By Owner would be required to pay although all closing cost are negotisable. They the Investor / Ibuyer takes off an inflated Realtors Commission usually 9% but could be as low as 7% which if the For Sale By Owner shopped around could list much lower.
When For Sale By Owner looks at the many buyers and find that the Investor/ Ibuyer, Discount Buyer and the Non Qualified Buyer are the ones who focus on the For Sale By Owners, you will understand why For Sale By Owners have such a hard time and most will eventually list with a Realtor.