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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: The Insult Comic Who Sells Million-Dollar Homes The New York Times Bay Area’s historic Green Gables estate sells for $85 million after steep price cut San Francisco Chronicle Texas now restricts Chinese nationals from buying property. Is it alien land laws all over again? The Guardian EXCLUSIVE: Bill Cosby Lists His Second New York Townhouse for $29 Million as Foreclosure Looms Realtor.com For value hunters to millionaires, these CT towns are on the hottest real estate run in 2025 CT Insider Average U.K. House Asking Prices Rise in September The Wall Street Journal Local real estate investment firm details positive federal tax policy changes for investors SiouxFalls.Business Real Estate Startup Aims to Help Clients Make Smarter, Data-Driven Decisions National Association of REALTORS® Mel Foster Co. School of Real Estate offers pre-license courses Quad Cities Business Journal Calvin Harris Accuses Financial Adviser of Stealing Millions to Fund ‘Boondoggle’ Real Estate Project variety.com Commercial Real Estate Roundup for Sept. 12, 2025 Idaho Business Review Real Estate Transactions, Sept. 15 edition Hopkinton Independent Matt Curtis Real Estate Completes 150th Home Build in Guatemala, Extending Global Mission of Service Huntsville Business Journal University of Alabama business school receives $5 million donation The Tuscaloosa News As AI takes over mortgage approvals, who’s watching the machines? Real Estate News by RealEstateNews.com Dunlap & Moran real estate attorney named to Best Lawyers in America 2025 Sarasota Herald-Tribune AI and analytics key to navigating ‘exciting inflection point’ in real estate, UBS CIO says Pensions & Investments Signs of more affordability, inventory in mid-Hudson Valley real estate market this fall Times Herald-Record Canadian Apartment Properties Real Estate Investment Trust (TSX:CAR.UN) Confirms September 2025 Monthly Distribution Yahoo Finance Choice Properties Real Estate Investment Trust (TSX:CHP.UN) Declares C$0.064 Cash Distribution for September Yahoo Finance Press Release: Korrin Petersen Joins Bowditch’s Real Estate and Environmental Law Practice Bowditch & Dewey Rare two-family waterfront home in Fairhaven sells for $1M. Weekly home sales SouthCoastToday.com Calvin Harris Accuses Financial Advisor Of Stealing $22.5 Million For Real Estate "Boondoggle" Stereogum Real Estate: September 1 to September 5 Newport This Week Ocean-to-lake estate hits the market at $134 million in Manalapan, south of Palm Beach Palm Beach Daily News Real Estate Notes: Downtown Hilton hotel opens Nashville Post Capital Idea Community Pulse - Lima One Builds Unique Lending Model For Real Estate And Construction Projects Greenville Online Like Real Estate? Earn 12% With AWP Seeking Alpha Inside Savannah Homes: 3 fully furnished condos overlooking Chippewa Square for $6.995M Savannah Morning News 261-unit River House along River Walk sold Texas Real Estate Research Center HAR.com Expands to Include Commercial Real Estate Listings Realty News Report Northwest Healthcare Properties Real Estate Investment Trust Announces September 2025 Distribution Yahoo Finance East Cobb residential real estate sales, Sept. 2-5, 2025 East Cobb News Best Real Estate Projects 2025: Channel 24 The Business Journals Hawthorne Capital Named Fastest-Growing Real Estate Company in the Americas by Financial Times Business Wire Senate Set to Confirm Miran for Fed on Eve of Pivotal Interest Rate Decision Norada Real Estate Investments Central Mass. real estate transfers, Sunday, Sept. 14 Worcester Telegram Navigating home inspections, objections and appraisals in Colorado real estate The Chaffee County Times Best Real Estate Projects 2025: Sutter Health Park Upgrades for MLB Play The Business Journals Strive305: Tico Casamayor & Irvans Augustin Talk Real Estate with Natalee Lima & Denise Sainz Miami's Community News The Rise Of Branded Residences: A Global Real Estate Trend With Local Impact - Harlem World Magazine The Rise Of Branded Residences: A Global Real Estate Trend With Local Impact Harlem World Magazine The “Most Expensive” Home In America JUST Hit The Market—and You Won't Believe the Price House Beautiful Linkhome Holdings Inc. Launches Platform for Real Estate Purchases Using Cryptocurrency Quiver Quantitative Renovated 125-year-old waterfront cape in Westport sells for $2.5 M: Weekly home sales Fall River Herald News Real estate company launches crypto-based platform National Mortgage News REALTY ONE GROUP POWERS INTO MEXICO CITY PR Newswire Chicago Atlantic Real Estate Finance, Inc. Declares $0.47 Quarterly Cash Dividend for Q3 2025 Quiver Quantitative A glance at Dayton's top commercial real estate transactions, totaling $18.8 million The Business Journals New Silver Introduces Commercial Real Estate Loan Program sg.finance.yahoo.com Norfolk sheriff, who moonlights as real estate ‘mentor,’ used campaign to bolster business interests, state officials say The Boston Globe How Quincy councilors voted on $1.9M deal to sell downtown property The Patriot Ledger Flagship Communities Real Estate Investment Trust Announces September 2025 Cash Distribution GlobeNewswire Brand-new, million-dollar home in Clive features fitness area, contemporary style The Des Moines Register Former CT dairy farm, spanning 87 acres, listed for nearly $2M The Register Citizen |
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