Im sure everyone has noticed that FSBOs (For Sale By Owners) are sprouting up everywhere. The more FSBO signs that get put on the lawn, the more the next door neighbor will seriously consider the same route, and the cycle is rampant! I have taken special note of this fact because I am in the real estate business and realize that homeowners are getting smarter and smarter. Many of them can no longer accept the tremendous loss of cash that they are giving away to a Realtor that lists their home. What every For Sale By Owner has in common is that they want to save thousands of dollars in Realtor fees. What normal human being wouldnt? Why not take on the task because in the end all the FSBO wants is a sale from a qualified buyer. The concept seems pretty simple, sell for top dollar in the least amount of time and put maximum cash in their pockets. Believe it or not, this can effectively get accomplished by the FSBO. Realtor commissions appear outrageous and they seem to be escalating. More and more Realtors are trying to justify an 8 10% commission! Can you imagine? In some areas, the average home sale is anywhere between four hundred thousand and six hundred thousand dollars. When a seller lists their home with a Realtor who commands a 6 10% commission, there goes $24,000 60,000 in cash! Most FSBOs and aspiring FSBOs would agree that this amount of money is well worth a little time and effort. I know how the business works and know that FSBOs are a great way to save a ton of money! I am giving this advice because for one, I can not possibly sell every home in America, and secondly there are people who honestly are not in a position to afford a Realtor. I have seen cases where a homeowner will let their property go into foreclosure because they dont know where on earth to begin to sell and because Realtors may have frightened them into thinking that they can not possibly do it on their own. I also know that Realtors sometimes use a bunch of scare tactics with a lot of legal jargon which ultimately mentally paralyzes the homeowner. Unfortunately when this happens, many homeowners resort to taking no action at all. In the case when a home has to be sold and the owner can not afford a Realtor, foreclosure results. This is an absolute tragedy! I will not say that I am disgusted with the business, but sometimes disappointed in the ways home owners may get exploited. Do the research, invest a little time to collect information so that you are confident in your endeavor. One last word, whether Realtors want to admit it or not, FBSO are here to stay! Whatever you choose, I wish you success! Carol Wilson |
