Mike’s Real Estate Show

If you are are selling your home yourself–the FSBO, here are some thoughts on the process:  Do you know your market data? Do you know the trends? What’s the absorption rate for your neighborhood? Who are the buyers? First timers, move-up? 2nd home folks? Are you offering any buyer incentives like interest rate buy-downs? Is your home dated? Are you allowing “drive-bys” to elminate your property? Remember, only 2-3% of ALL buyers ever buy the home they call on in the newspaper or on-line.

Are you cooperating with the Real Estate Community? Selling Agent incentives? 4-5% to the Selling Agent? If everyone else is NOT selling in your neighborhood and you have dropped your price below that–then maybe the market entry is below YOUR price. Is there a reason you are not wanting to use a Realtor? If you’re trying to save the brokerage fee this is understandable but may cost you more in the long run. In a highly competitive market as Phoenix, where thousands of listing are currently on the market, getting a Realtor maybe your only salvation. Here are some reasons.

Who is going to look at your property? Remember, this is most likely the biggest, single, investment most folks will make. So the first time homebuyers might be totally scared of working with someone selling their home themselves. The “move-up” buyers have an agent already because s/he has either sold their home or currently has it on the market. You had better appeal to this agent because they may not want to make a move without them. The “Relocating-Buyer” doesn’t have the time to fool with a FSBO. They want to work with a professional who does not get them into trouble with an unknown entity. Who is left? Investors and they LOVE working with FSBOs.