Some sellers are tempted to maximize their profits and avoid paying a commission to a Realtor by trying a For Sale by Owner (FSBO) transaction in the midst of a sellers’ market. They think they can sell easily without any help from a professional Realtor.
However, statistics show that selling your home with the assistance of a professional real estate agent will garner you a higher profit, enough to cover the commission as well as put more money in your pocket.
Serious buyers only shop FOR SALE BY OWNER’S to save a commission, which is probably what the seller is trying to do, hence resulting in a sale price that is significantly below market. The typical FSBO home sold for $210,000.00 compared to $249,000.00 for agent-assisted home sales, according to the National Association of Realtors.
Most buyers shop on line before even contacting a realtor, so aggressive marketing is key! Having earned the prestigious membership in the top elite international real estate network, I know the importance of gaining global exposure to attract more of the right buyers to get the highest price. Our combination of unique marketing to local, national, and international buyers has resulted in some sales as high as 20% over the market value.
Some of the important tools and practices we use but are not limited to are professional photography, aerial tour from a drone, marketing the home like a professional developer with virtual staging (if necessary). A brochure of the home, a pro-active approach to selling by having our team to get on the phone and asking hundreds of people a day if they know someone who is interested in purchasing the property, qualifying the buyers who want to view the home, and special events that actually get traffic!
FSBO’s are also missing out on 25% of the buyers in the South Florida Market. International buyers typically pay top dollar and are cash buyers which means if your house is overpriced you’re going to need cash buyers as it will not appraise.
There is also the fact that FSBO’s are missing out on the power of a third party negotiator. There are many stages of the deal where it can fall apart.
Contact Rebecca Schmitt, from Paz Global Real Estate to discuss your options at (786)216-3557
