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AllStar Powerhouse, 56 Central Avenue, Suite #201, Asheville NC, 28801  

 

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FSBO - CPO / Listing Storyboard Program

 

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Here's an article by Realtor.com about for sale by owner properties. Even though it paints a pretty dark story about selling on your own, at AllStarPowerHouse we will help you with a lot of the tools that you need. We offer a no-pressure, hand for you to get your home sold. Featured home value areas this week:

 

For Sale By Owner (FSBO) Statistics

  • FSBOs accounted for 9% of home sales in 2013. The typical FSBO home sold for $184,000 compared to $230,000 for agent-assisted home sales.

  • FSBO methods used to market home:

    • Yard sign: 36%

    • Friends, relatives, or neighbors: 28%

    • Online classified advertisements: 16%

    • Open house: 14%

    • For-sale-by-owner websites: 13%

    • Social networking websites (e.g. Facebook, Twitter, etc.): 7%

    • Multiple Listing Service (MLS) website: 7%

    • Print newspaper advertisement: 7%

    • Direct mail (flyers, postcards, etc.): 1%

    • Video: 1%

    • Other: 2%

    • None: Did not actively market home: 32%

 

  • Most difficult tasks for FSBO sellers:

    • Understanding and performing paperwork: 18%

    • Getting the right price: 13%

    • Preparing/fixing up home for sale: 12%

    • Helping buyer obtain financing: 3%

    • Attracting potential buyers: 3%

    • Selling within the planned length of time: 7%

    • Having enough time to devote to all aspects of the sale: 6%

 

Source: 2014 National Association of REALTORS® Profile of Home Buyers and Sellers

 

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. According to the National Association of Realtor’s 2013 Profile of Home Buyers and Sellers, the average FSBO sales price was $174,900, while the average price for a home represented by an agent was $215,000, a difference of $40,100.

 

FSBO Woes: Why It's So Hard to Sell Your Own Home 
For most people, a for-sale-by-owner (FSBO) transaction simply isn't in the cards.

By Marcie Geffner

 

Granted, some people are able to sell their own homes without the services of a real estate agent. Some of these successful do-it-yourselfers are very experienced home sellers. Others are transferring ownership of their home to a child, a coworker or a tenant who's already living in the home. These circumstances are the exception, not the norm, however. For most people, a for-sale-by-owner (FSBO) transaction simply isn't in the cards. Here are five reasons why.

 

1. FSBOs can't list their home in the MLS. FSBOs aren't permitted to put their home in the multiple listing service (MLS) because these industry membership organizations are open only to licensed real estate brokers and agents. FSBOs are also locked out of many home search engines and Web sites, including the gigantic Realtor.com. Sure, a determined FSBO can put a for-sale sign in his or her front yard and run a tiny advertisement in the local newspaper, but the home won't receive nearly as much exposure as it would through the MLS.

 

2. Agents won't show FSBO homes. In a typical home sale, the buyer's agent receives a percentage of the commission that the seller pays the listing agent. Without a listing agreement, there's no guarantee that the buyer's agent will be compensated for his or her services, unless the buyer has signed a buyer's brokerage agreement that specifically provides for such compensation. Even if a FSBO offers to pay the buyer's side of the commission, most agents won't want to go through a transaction with an unsophisticated self-represented seller across the table. That means the pool of potential buyers for FSBO homes is limited primarily to unrepresented and probably unqualified prospects.

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3. FSBOs usually overprice their home. Like most homeowners, most FSBOs honestly believe their own home is worth more than comparable homes in the same neighborhood. Usually, they're wrong. A real estate agent can provide an update on market conditions, an assessment of the likely selling price of the home and tips for improving the home's buyer appeal. Overpricing a for-sale home is a sure way to deter potential buyers.

 

4. Buyers will feel intimidated. Potential buyers will spend less time in a for-sale home if the owner is present during the showing, and they'll be shy about discussing its pluses and minuses with their own agent if the owner is within earshot. Buyers will also be less inclined to make an offer if they know they'll be negotiating directly with the seller. Having an agent on each side creates an effective emotional buffer between the seller and buyer.

 

5. FSBOs are likely to stumble into legal trouble. Real estate transactions are fraught with potential liability for unwary sellers, particularly in states that have extensive disclosure requirements (e.g., California). A FSBO who overlooks even one required form or legally mandated disclosure could face a protracted and expensive buyer lawsuit after the transaction closes.

Copyright © 2000 Marcie Geffner. All rights reserved.

 

Why For-Sale-by-Owner Sales Fail