For Sale By Owner Success Story
How many people are successful selling their own homes?
Imagine this you start an online business called “ForSaleByOwner.com” to provide a place for those who want to undertake selling their home to save money. Selling one’s own home is much easier when it is a Seller’s market, but not so easy in the current buyer’s market. And that is what the founder of ForSaleByOwner.com discovered. He tried to get the deal done, and nothing happened. So what do you think he did? Called a Realtor of course, who was able to sell it for more money than originally listed with multiple offers. Ironic.
Mr. Sambrotto apparently realized there is more than just putting the home on the Internet with hopes that it will sell. The MLS system is the hub of all real estate listings and networking with local agents is key. When you try to sell your own home you are missing the biggest market of all–real estate agents. While we market to the end user there is probably less than 5 percent of the listings that are sold by the listing agent. It is another real agent that will bring the buyer.
Some homeowners believe if they sell their own home they will save the commission, that is exactly what the “would be” buyer is thinking “deduct the commission amount from the asking price”. In the end many for sale by owners do not save money, instead they end up spending probably the same amount of money whether it is in actual cash dollars or the value of their time spent marketing the home.
If you want to follow the example of someone who knows the value of a real estate agent – look no further than to the founder of “ForSaleByOwner.com”. Even he eventually ended up listing with a real estate agent.
Source: 360 Digest
Filed under: General RE Tips
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