Posts Tagged ‘ for sale by owner ’

Why the Words “For Sale by Owner” Can Spell Doom for Your Home

Today’s real estate market can be trying for even the most eager of individuals. Many people might want to avoid the additional commissions, fees, and whatnot that are involved with realtors, yet having that ominous “for sale by owner” (FSBO) sign in their yards could lead to more problems than solutions. What makes a sale more difficult when owners attempt to do it themselves?

Tricky Sales
When you list a property “for sale by owner,” there is a limited pool of potential buyers. In most cases, the property won’t be showing up on the multiple listing service (MLS). Also, many people think that FSBO sellers are not always the most motivated to sell their properties, and are just putting a sign up to see if they can garner a high asking price. Many times, unfortunately, you see FSBO homes sitting on the market for an unusually long time.

Also, those selling FSBO might not have the experience of an agent in negotiating the best deal. The closing paperwork, if you have never sold a property, can be very complex and confusing. An investor, for example, usually makes the sale as stress-free as possible by handling all the paperwork, closing quickly, buying “as is,” and not charging realtor commissions.

Realtors versus Investors
There are many perks to listing with a realtor. It can be a good idea if the house is in good condition, you are patient, you don’t mind paying additional realtor commissions, and you are looking for a retail price. If the house needs work, however, you are looking to sell quickly, or you don’t want to pay a hefty realtor’s commission, contacting an investor might be a better option than choosing a realtor.

An investor is a great option to get your house sold if you need to sell quickly for whatever reason (including probate, inheritance, divorce, bankruptcy, or relocation, just to name a few). Usually, when investors buy houses, they can buy them in as few as seven days, in as-is condition, and without any realtor commissions. It’s up to you to decide which of these options best serves your ultimate purpose in terms of selling your house.

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Posted by: Guest Contributor on August 24th, 2012 under Guest Bloggers

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Are you using all your tools to be successful?

Sorry I haven’t been writing much lately, I have been swamped between helping new members of The eHomes Realty Network, which has been very fun and running Tropical Realty. On top of that our software is almost ready for release so I’ve been working with my staff to get all the bugs out. Now I know how hard it is to release software….who would have thought!

One thing I am learning as I’m helping Agents and Brokers around the country is the lack of diversity. I talk to Agents that only want to work on the Internet. I talk to others that don’t understand the Internet so they put all their resources into the old school way of doing business.

Recently I sat down with my most successful Agent in my office who is right around $8 million in sales (avg $168k per sale) and will end up around $11 or $12 million this year. This is an amazing number for our area right now. I wanted to figure out what she was doing versus most of my other Agents. Even though they are all doing ok, she is double my next best Agent. Her answer was very simple when I asked her. She said, “I just do everything you taught me to do.”

It was that easy. I have had other Agents Continue reading this post

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Posted by: Mitch Ribak on September 29th, 2008 under Best Practices

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A Whole Lot More (Part 2)

Part 2 – Your Sphere of Influence (Part 1: Back to Basics)

FSBO’s are home Sellers and Buyers and need a mortgage. (FSBO stands for ‘For Sale By Owner’) 70% of all FSBO’s list with a real estate agent that asks for their business.

If nothing else, they may need other assistance if they find a buyer, like escrowing, contracts, mortgage needs. I would walk up and meet in person as many FSBO’s as you can.

It will open doors and if will open our minds to opportunities otherwise missed. Make 2008 the year to personally meet and talk to 6 FSBO’s a week.

After all, they are easy to find, they are selling a home, and they are eager to hear what you have to offer, and if of benefit to them….new business.

What could be easier? I know, I know….doing nothing is much easier.

Your Sphere of Influence is every one you know or have known. It also can grow by introducing yourself to every one you meet during a day. The cashier, the hair stylist, the UPS man, the Teller, every one.

Why not carry your business cards and hand it to…every one.

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Posted by: Jeffrey Bastress on January 28th, 2008 under Best Practices

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