For Sale By Owner is an interesting concept and as a real estate agent, I have dealt with many home owners trying it. In their mind FSBO has the potential of getting them more money as they save the real estate commission. For buyers the concept of saving the commission on the FSBO seems exciting. I cannot claim that some were not lucky and have managed to sold their property quickly, but these were the minority. The devil as always is in the details.
In the perfect scenario, the buyer and seller find each other, agree on all the details, the deal is fair to both of them and everyone lives happily ever after. But just as fairy tales, this happy ending does not happen often. Here is why?For sale by owner homes do not get the exposure that listed properties get from MLS access, hundreds of professional real estate agents competing to sell the property and dozens of dedicated websites that market the property.
The sign indicating the intent to sell and a listing on a website does not even come close. In addition to this, in the for sale by owner transactions, you have the psychological barrier of the buyers dealing directly with the homeowners knowing that they have all the interest in them buying the property. This is different from dealing with an agent who represents them. Many buyers also fear that for sale by owner did not go through the tough market value test. The market is the only real arbiter in determining the actual value of a home. This means that the home is priced according to what the owners believe it is worth and since it was not exposed to the forces of the market enough, due to the limited exposure, it may be overpriced.
Saving the commission while buying an overpriced property may not be that good of a deal after all.As a real estate agent, I believe home owners have more potential of getting better price for their homes through real estate marketing and exposure even after the real estate commision than with FSBO with all the hassle it brings. For buyers, buying a for sale by owner, exposes them to the risks of buying a property that may not be priced right and without the knowledge and experience of a real estate agent.
To sum it up, from my perspective as a real estate agent, I can say that although theoretically a FSBO should work and in turn provide a good deal for the sellers and buyers, in practice it has many flaws and the potential of creating problems for the buyers and sellers altogether. I have tried my best for my opinion not to biased by the fact of my profession as a real estate agent.
Reham Hassan, Real Estate Agent in Cookeville Tennessee,
Real Estate in Cookeville Blog, http://www.homesforsaleincookeville.com.
Business Website, http://www.rehamsellshomes.com.
Back with more news for you today. It’s amazing how much good information there is on this stuff out there if you know where to look. Three in particular that I found really valuable were…
Movies N Hacks- Full Fast Free Downloads: For Sale by Owner (2009 …
For Sale by Owner (2009) – DVDRip.XviD Direct Download Mediafire. Author: MOVIESnHACKS | Posted at: 12:22 PM | Filed Under: English MOvies (2009) |. INFO. Information: Release Group: iFN. Release Name: For.Sale.By.Owner.2009.DVDRip. …
Large condo the plaza jomtien investment sale
For Sale By Owner is a beautiful new View Talay 7 condominium directly on Dontang Beach in Jom Tien. This new project is on the baht bus route and is just minutes from Pattaya… read more. Chon Buri/Pattaya / Jom tien, Price: 6350000 …
COUNTRY HOME FOR SALE BY OWNER LOCATED IN WOODVILLE TEXAS – San …
country home for sale by owner located in beautiful neighborhood of ivanhoe, in woodville texas. nice area!!! this is wood frame house, with 2 bedrooms, one bath, has a tall ceiling, {vaulted or cathedral type} it's a fixer upper, …
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If you’ve been keeping up with my blog posts lately you’ll know I’ve come to adding a few news posts from around the web on this subject. I’ve got a couple more today that are new and updated, so let me know what you think of em…
Star Tribune, CarSoup.com Target Auto Ad Dollars
… become the local sales arm for CarSoup.com products and services in the Twin Cities metro area for both dealership and for-sale-by-owner advertising. … Read More…
Gotugo Adds a Director of Special Events Sales and Director of Construction …
Recently, she moved to the area from Alaska where she excelled as a real estate agent at For Sale By Owner for several years. She also held a sales position … Read More…
Sale boss hints at Edgeley exit
SALE Sharks owner Brian Kennedy has revealed that he is considering moving the club away from Edgeley Park. The multi-millionaire businessman … Read More…
That’s all the news for today guys, so until next time, thanks for stopping by.
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