American for sale by owner sellers speak out

More and more people are choosing to bypass traditional real estate agents and sell their homes themselves. Indeed, the Marietta Times recently reported that ‘thanks to an expanding array of websites, appraisal tools and advertising mediums, people are more capable than ever of selling their homes, cars and valuables without the help of a professional.’

While there are some disadvantages to selling property online without an agent, the cost savings often outweigh these, as we see next.

Old fashioned marketing and a dedicated web advert can work

One of the main criticisms of adopting a ‘for sale by owner’ approach is that FSBO sellers do not reach the same number of potential buyers as people who list their home via an agent.

According to the website for the US National Association of Realtors, most realtors will not show FSBO houses. The website also states that ‘for sale by owner’ homes are not allowed to be listed on multiple listing systems, which show houses from all registered realtors.

Marietta resident Myron Callihan admitted that listing their home on a ‘for sale by owner’ website hadn’t reached as many potential buyers. He said: “We didn't get as much exposure to the market as if we had gotten a realtor.” However, the Marietta Times reports that ‘the benefits of not having to deal with a realtor or pay a typical 6 percent realtor commission outweighed the convenience of a fast sale.’

"We weren't in a hurry to sell it. I don't see the need to get a realtor involved if you don't have a timeframe," Mr Callihan added.

Author : Nick Marr

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