For sale by owner, is it for me?

There’s a sea change in the way houses are being bought and sold in this country. At the turn of the century, everyone sold their own home, and it was like that until the 50s and 60s, when selling real estate became a popular career. In the 70s, 80s, and 90s, with real estate prices going into orbit in so many parts of the country, real estate became a quick path to high-flying success. But what goes up must come down, and anything that goes beyond the stratosphere must take the heat of re-entry. And that’s exactly what’s happened in the real estate field. When homes were twenty-, thirty-, or forty-thousand dollars, a six percent commission didn’t amount to much. But with homes now $500,000, $1 million, and higher, real estate commissions are a big deal. People simply don’t want to pay twenty-, thirty-, or forty-thousand in commissions. Which is why more and more people are going the FSBO route. How many more? According to the U.S. Government, by 2009, more than 50 percent of all homeowners will be trying to market their own homes! Currently, the main FSBO sites on the web collectively list more than a quarter of a million properties across the country! That’s a huge shift! So if you do decide that FSBO is right for you, you’re not alone. In fact, you’re part of a back to the future trend, selling property the way it used to be sold. And why not? No one knows your house better than you do. You’ve got the memories and insight that can only come from living in a house, memories and insights that enable you to talk about a home. Some real estate agents will look at your home as a configuration of rooms and features on a checklist. Sure, they might factor in “curbside appeal,” but the bottom line is that your house is simply a path to improvements in their bottom line.

But isn’t there so much to do, so much paperwork to manage and understand? Isn’t that why realtors are licensed, so they can handle the difficult forms and contracts? Has the process of selling a home gotten simpler so that anyone can do it? No, the process hasn’t gotten any simpler. It doesn’t need to, because it was never complex! Other than an offer to buy and a purchase and sale agreement (which are standard forms) – there’s nothing to do. The buyer’s attorney will do the rest. After all, whoever is funding the buyer carries the real risk and wants to make sure that the title is clear and that all the “i’s” are dotted and “ts” are crossed.

But … there’s so much to do in terms of pricing, getting the house ready, hosting an open house, or managing showings. Yep. There’s a lot to do, but even if you use a realtor, you’re going to do a lot of it anyways, like paying for any repairs or cosmetic improvements The rest is having someone serve as a guide and point you in the right direction But … I’m not a salesperson, you might say. I’ve never sold a car let alone anything as a big house. We’ll, when it comes to selling some things, size doesn’t matter. As I already explained you’re the person best equipped to sell your house. The rest is confidence, market conditions and psychology. But …what if I try to sell my house and then decide to use a real estate agent. Doesn’t that put me at a disadvantage? Not at all! You may in fact decide to go with a broker in the end. But if you walk a mile in a real estate broker’s shoes, you’ll have a much better understanding of the issues and you could probably cut a better commission deal. Most important, always remember that you’re part of a growing trend. Things change. When the automobile came along there were people who refused to ride in such “infernal contraptions.” In less than a decade it became the primary way that we moved ourselves from A to B. So, hop aboard, buckle up, and we will show you the lay of the FSBO land. I think you’ll like it. You can do this!

Ed Williams,
Publisher
http://www.zerobrokerfees.com