The first decision a home seller must make is whether, as a consumer, the
seller considers the services of a realtor worth the 6% price. Once each seller
individually makes that decision, if you do not want to pay the 6% commission you must
consider the alternative marketing possibilities and develope Your Own Home Selling
Plan so you can succeed at selling your own home FSBO, like MILLIONS of other home
sellers have done already. Some home owners who try to sell their own real estate fail,
and although the FSBO failure rate is a LOT LESS than you hear Realtors talk about it is
still significant (when discussing the failure rates of FSBO sellers, the Realtors also
usually fail to mention that about 1 out of 4 or 5 Realtors MLS listings ALSO fail to generate a buyer
and are either terminated or expire). There is a unique explanation for the specifics of
each failure, but there are also a few common reasons for these FSBO failures. Examining
the most common reasons for FSBO failures, the Realtors methods of home selling, and a new
Hybrid FSBO - MLS marketing approach is a useful starting place for home owners to begin
evaluating what type of marketing plan they want to formulate to sell their real estate.
The Single Most Common Reason for Failure of owners attempts to
sell their homes for sale by owner sucessfully is their sheer lack of commitment to the
FSBO strategy. In effect they "Give Up" on their efforts prematurely before
their strategy has had time to work. Many owners go into the effort thinking "I'll
put up a sign and run a few newspaper ads and maybe even hold an open house and if I don't
sell it myself "right away" I'll call the realtor up and pay the 6%". Only
a few home sellers find that just right buyer and make a good deal "right away",
with or without a realtor. Maybe in a hot market and an unusually desirable neighborhood
sellers find a buyer quickly, but the average property "LISTED" in the Realtors
MLS is "on the market" for about 120 Days. Realtors have a tendency to quote
statistics for the average days on the market for property which has "SOLD"
lately rather than the average days on the market for "ALL PROPERTY LISTED", and
there is normally a considerably significant difference in those two numbers since a good
number of the Realtors MLS Listings have the listing agreements expire after 120 to 180
days without being sold at all. The average owner attempting to sell property FSBO which
gives up and hires a realtor, usually does so after only about 30 to 60 days. These
"average numbers" will of course vary and possibly they will vary widely in some
instances from the actual normal marketing times for different neighborhoods since some
areas move faster and others slower, but the averages generally establish the point I am
making that many FSBO sellers simply give up prematurely. I wonder how many people reading
this paragraph have already done some advertising of their home and have had more realtors
soliciting them as a result of their home for sale ads than interested potential buyers?
Realtors know that many FSBO sellers lack a serious commitment to their own marketing
effort, or they would not waste their time soliciting MLS listings from owners advertising
their home FSBO. Selling a house takes a good plan, a commitment to that plan, and the
patience to let the plan work, to successfully sell your own house you need all three
elements. To be successful you need to start with a comprehensive FSBO Kit, a good marketing plan, and the commitment to make it work. Selling a house usually does not happen "right away". If you go into
the effort expecting to call a realtor if you do not sell your home right away, why not
just call the realtor today and save yourself some wasted time, money, and aggravation?
Let me ask you, how many home sellers tell their realtors, if you do not sell my home
right away then I'll go sell it myself? Not many is the answer, and that is one reason why
the realtors method consistently works pretty good is because when the seller embarks on
it the seller is normally committed to the marketing effort whether it takes 30 or 180
days. If you are not committed to selling a home yourself, you probably should not try.
Put simply, if you are not committed to the effort, regardless of the quality of that
effort, it is really of no consequence whether your plan is good or poor, the general
likelihood of success (excluding the "luck" factor) is relatively low.
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