For Sale By Owner

Coldwell Banker® 
Understanding the Limitations of “For Sale By Owner”
 
 
Trying to sell your home on your own means trying to do by yourself what professional brokerages like Coldwell Banker® do everyday
 
  • Price & position your property in the marketplace
  • Professionally market your home online, direct to buyers and extensively to the network of local real estate professionals
  • Manage showings, meet buyers, conduct open houses
  • Handle paperwork, disclosures and other legal issues
  • Help potential buyers obtain financing
What sellers who sold on their own did not realize…
  • 49% of sellers who sold their own home say they “did not want to pay a commission” or fee.
  • Other reasons included:
    • 26% sold their home to a friend or relative
    • 11% were contacted directly by a buyer
    • 4% did not want to deal with an agent 
    • Selling your own home usually does not result in the best price:
      • The median selling price of FSBO homes was $172,000 compared with $215,000 for agent-assisted home sales. Sellers who “did it themselves” realized a 20% lower sales price.
    •  For Sale By Owners are not marketing professionals. They frequently use the least effective and most costly methods to attract buyers, including:
       
      Many FSBOs are not prepared for the complexities of the real estate transaction. As a result, they often lose potential buyers and valuable market time.
      • 44% relied upon yard signs
      • 22% placed newspaper ads
      • 15% effectively conducted open houses
      • Only 25% put their listing on the internet
      • 3% could send direct mail to a database of prospective buyers 
    • They may also face certain risks with respect to paperwork and legal issues.
      • 15% said they understood the paperwork involved
      • 15% said they were able to set the right price in the marketplace
      • Only 5% could help buyers obtain financing
      • 13% said they sold within the length of time they had planned on
      • 5% said they had enough time to devote to all aspects of the s
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