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Real Estate Information |
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Selling by Owner = Saving by Owner?
According to the National Association of Realtors, For Sale By Owner (FSBO) home sellers comprised nearly 14% of all home sales in the United States in 2003. The Boston Globe reported that nearly 25% of homes sold in that area during that same time period were FSBOs. Although many FSBO home sellers have saved thousands of dollars in commissions, many others have lost money, and current statistics show that 80% of FSBOs will eventually list their homes after unsuccessfully trying to sell their homes themselves. However, if you're thinking of trying to sell your home without the aid of a real estate agent, here are a few tips for getting the most from the experience: Leave Your Emotions Out of Your Sales Process Selling your home often can be a painful experience, so it's important to emotionally detach yourself from your house and try to think of it as an investment in your future. Try not to be affected by unkind remarks you may hear from prospective buyers trying to get you to lower your price by attacking various features of your house. And although you should call your house a "home" to prospective buyers, think of it as just a "house." Set the Right Sales Price Of course, you want to get the highest price possible, but pricing your home too high will keep it on the market too long, which will lead people to think there's something wrong with your house. Look at the other homes being offered for sale in your market and compare them to yours, in terms of square footage, number of bedrooms, lot size, and other features that are similar to yours. Be objective, and then price your home according to your findings. You might consider setting a price range, instead of a fixed price, if you're considering helping potential buyers with their closing costs. Advertising Signs: Pick up directional signs at a home improvement store, list your phone number and the address of your home on them, and then display the signs in prominent places around your neighborhood. Most buyers use the services of a Realtor to look for a new home, but if your home's in a desirable neighborhood where other houses are also for sale, potential buyers may see your signs and come back later to visit your home. Place a professional-looking sign in your front yard, featuring your phone number in print large enough to be easily read from the street. Flyers: Think like a marketing guru and create a sizzling sales flyer, listing all the benefits and features of your home. Newspapers: Pick up copies of all the newspapers and advertisers in your area, and look at them, imagining that you're the one looking for a home in your area. Then create an ad of your own, copying ads that most attract your eye. Make sure to list benefits to potential buyers and not just the features of your home. Showing and safety: Ask prospective buyers for their phone numbers before you give out your address over the phone, and then call them back to verify the information. Also, make sure to have someone with you when you're showing your home to strangers. If you find that you need to turn to an agent for help, here are some tips for finding the right one to sell your home: Bear in mind that many real estate agents will make unreasonable promises to sell your home for a high price, but they're only hoping to get the listing. Like buying anything else, you need to be informed, so it's important to compare services. Interview several agents, ask for referrals from satisfied clients, and then call those home sellers. Saving On Real Estate Agent Fees You also have the right to negotiate the broker's commission. Since most homes are sold by a selling agent, rather than the listing agent, why pay 3% to the listing agent for just listing the home? Ask for a 1% listing commission if the agent does little to market your home. You might also offer to pay less to the selling agent--2.5% is a common percentage in high- priced areas--or point out to potential listing agents that since your equity is less than the selling price, you want to pay a percentage based on that figure, rather than on the sales price. Most areas also have flat-fee brokers. Some will charge a percentage of the sales price, while others may charge as little as a flat $395 to list your home with the Multiple Listing Service. Decide which services you're actually going to need, such as yard signs, showing help, and contract preparation, and then match your needs to the services offered. Selling your home yourself should mean that you save money on real estate fees. But if you're not a savvy salesperson, you could actually make more money and sell your home faster by hiring a go-getter real estate agent. (c) Copyright 2005 Jeanette J. Fisher. All rights reserved. Professor Jeanette Fisher, author of Doghouse to Dollhouse for Dollars, Sell Your Home for Top Dollar--FAST, Home Staging, and other books teaches Real Estate Investing and Design Psychology. For more articles, tips, reports, and newsletters, see http://www.sellfast.info/
MORE RESOURCES: Altadena’s rough real estate market: Slower sales, lower prices, lottery winner plucking up properties Los Angeles Times Real estate expert warns socialist mayoral candidate could trigger massive NYC exodus - Fox Business Real estate magazine reports Les Wexner as Blue Heron buyer The Martha's Vineyard Times Canadian psychologist Jordan Peterson sets up shop in the Valley, records show The Business Journals Bedrock flexes its real estate portfolio to grow Detroit's tech ecosystem - Crain's Detroit Business Bedrock flexes its real estate portfolio to grow Detroit's tech ecosystem Crain's Detroit Business ‘Taken advantage of’: Real estate agent ripped off friends, church, and federal government WSOC TV Office real estate wide open in Denver as vacancy rate hits 36 percent Colorado Public Radio Vail Valley real estate inventory is on the rise VailDaily.com NAR Real Estate Forecast Summit National Association of REALTORS® Real Estate Partners Dollar Tree Let's Talk Business: June residential real estate sales lagging, heritage grants and more Pueblo Chieftain A New Perspective: Here Comes the Groom | Real Estate Insights Piedmont Exedra Boston Real Estate Times Unveils 2025 Excellence Award Winners: Honoring the Visionaries Shaping New England’s Future Boston Real Estate Times Dawson County weekly real estate transactions, July 18 Central Nebraska Today State lawmaker joins Westport commercial real estate brokerage as vice president Hartford Business Journal Bard College hires real estate advisor and broker to sell Simon’s Rock campus - The Berkshire Edge Private Credit Surges in 2025 as Real Estate Developers Bypass Banks The World Property Journal Real estate news: Senior apartments in Tustin sell for $83M; Fullerton Metrocenter snares $118M Orange County Register 5 Essential Tech Tools for Real Estate Agents National Association of REALTORS® New York Housing Market Trends 2025: Is the Tide Turning for Buyers? Norada Real Estate Investments Los Angeles Water & Power commits $100 to real estate debt Pensions & Investments Today’s Mortgage Rates: The States Offering Lowest Rates – July 18, 2025 Norada Real Estate Investments Property management with an owner’s mindset J.P. Morgan Corcoran McEnearney Announces Evan Lacopo to Lead the Number One Real Estate Office in Alexandria, Virginia Alexandria Living Magazine SRS Real Estate Partners Arranges $4.53 Million Ground Lease Sale of Walmart Property in Deltona, FL citybiz Real Estate Market Report (June) highlandscurrent.org Licking County real estate transfers for June 30-July 4 range from $200,000-$14.6 million The Newark Advocate Banner Real Estate Group Breaks Ground on 334-Unit The Faywell Multifamily Development in The Heart MultifamilyBiz Bridgemarq Real Estate Services® Declares Dividend Yahoo Finance CBRE Announces Strategic Leadership Appointments Across U.S. & Canada Advisory Business Boston Real Estate Times Moon Becomes Next Real Estate Frontier, NAR Reports Higher Foreign Investment In US Huntsville Business Journal Gravelle advises on current real estate market in Grant County Columbia Basin Herald Frederick Ford, real estate executive and first Black Union League Club president, dies at 98 Chicago Tribune Mapletree Sells Sun Belt Warehouse Portfolio to EQT Real Estate for $241M Commercial Observer GenesisM Breaks Ground on 154,000-Square-Foot Biomanufacturing Facility in Bedford, MA Boston Real Estate Times AGC MA Announces 5th Annual Building Advancement Externship to Bridge Educators with STEM Construction Careers Boston Real Estate Times Operation Pawssible: Greenbrier Humane Society gets a boost from local real estate company Mountain Messenger What's the most expensive property sold in Rhode Island? July 18 real estate transactions The Providence Journal The Pipeline: Commercial real estate roundup for 7.18.25 Richmond BizSense LOCAL REAL ESTATE TODAY 7.18.25 KQEN News Radio Home Buyers May Have Accepted a New Norm on Rates National Association of REALTORS® SRS Real Estate Negotiates $4.5 Million Sale of Walmart-Anchored Property in Metro Orlando Shopping Center Business Miami-Dade’s self-storage surge a boom for real estate IslanderNews.com Home Buyers: Stop Freaking Out After the Home Inspection National Association of REALTORS® Tips on spotting real estate investment opportunities and avoiding risks, from experts at GR Property Group Community Impact Stage Point Europe Launches Its RWA Token $SPET, Setting it up as a Bridge Between Crypto and Real Estate Morningstar Hunt Companies Acquires Controlling Interest in Carter, Strengthening Real Estate Development Platform Business Wire New plans unveiled for Water Street’s second phase Tampa Bay Times Top Stocks for Real Estate Investment Elite AI Stock Forecasts - Massive wealth growth Jammu Links News July Economist Snapshot: What Will the Big Beautiful Bill Mean for Commercial Real Estate and Housing? Urban Land Magazine Vend Leans Into Verticalisation As Real Estate Revenue Grows 11% In Q2 onlinemarketplaces.com Is Apollo Commercial Real Estate Finance Inc. a good long term investment - Explosive market performance Jammu Links News Wood County Recorder reports on second quarter real estate activity BG Independent News Vendor & Real Estate Partners Dollar Tree Real estate sales in Jefferson, Bullitt and Oldham counties for Jan. 2-5, 2025 - The Courier-Journal Real estate sales in Jefferson, Bullitt and Oldham counties for Jan. 2-5, 2025 The Courier-Journal Development Services Offers Online Early Assistance for Commercial Real Estate Projects Prince William County Government (.gov) Choice Properties Real Estate Investment Trust 2025 Q2 - Results - Earnings Call Presentation (OTCMKTS:PPRQF) Seeking Alpha Manitowoc's real estate transfers include a sale of nearly $1 million to Riverside Dairy Herald Times Reporter Real estate transfers: Lake Township condominium complex sells for $5.61 million - Canton Repository Drake Real Estate Partners closes largest fund yet after pivoting to institutions Private Equity Real Estate | PERE Real Estate Transfers ~ June 25, 2025 The Bedford Citizen Stonelake Capital sells dozens of industrial buildings across US for $920 million The Business Journals |
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