Home For Sale by Owner – Private Sale of Homes a Growing Trend3 min read
For Sale by Owner
The toughening home market in Ontario is making it tough for real estate agents to sell any kind of real estate. Scotiabank has reported a slowdown in home resales in 2008 and prices have dropped. It is definitely a buyer’s market as economic growth has slowed, and people are looking to cut out realtor fees wherever possible.
FSBO.com’s home index recently revealed that on average, FSBO properties were on the market for just over three months and sold for 95% of the asking price. The average amount saved on real estate commissions totaled more than $10,000. That’s a big incentive to move to do-it-yourself real estate sales.
Not that it’s easy for homeowners to sell their homes without the assistance of a realtor. Finding the right buyer with the right price still requires some marketing savvy and a lot of work. The level of knowledge about home marketing has improved dramatically, some of it due to television shows and books that have proliferated on the topic of flipping properties. From remodelling to sales psychology, many people are able to prepare their home and show it to buyers.
Homesellers and buyers are finding that real estate deals can be made without having to pay realtor fees. The question of marketing though is an issue they struggle with. Without having the realtors listing service and an agent funnelling active buyers to their home, how do go about making contact with lots of buyers?
If you’re selling a cottage in Muskoka, Haliburton, or other rural Ontario towns, there may not be any street traffic so posting a sign on the lawn may not generate any serious offers. Other marketing and advertising vehicles will be needed.
Visibility on The Search Engines is Key to Selling Homes today
The Internet is critical to successful selling these days and it is in real estate as well. Search engines, do it yourself sites, and news sites all offer great visibility to homebuyers and sellers. Even the major real estate companies rely on Google to connect with buyers and sellers. The real estate companies draw significant traffic through Google from people interested in everything from real estate, to mortgages to for sale by owner listings. Fortunately, a few web sites show up at the top of the search listings and they are well visited. You definitely want to be advertising with these sites if the cost is sensible and if they will serve single homeowners. Some real estate Web sites won’t.
For Sale by Owner isn’t a new idea. Services to help sellers cut out expensive realtor fees have been around for some time. For these services to be successful, the companies Web site needs to show up in the search engine rankings. A few Home for sale by owner enterprises have their own print magazines which can extend reach into localized markets in small Ontario towns. When you combine that reach via print and via the Web search engines, the overall ability to connect buyers and sellers is strong. These services are often low priced and can help sellers save significantly on realtor commissions.
FSBO services often provide a package of services for a fee that may include a listing in print magazines, web site listings, and various documents along with signs for placement on street locations. Visibility is everything, and these packages may give you all the coverage and help you need to sell your home well. Some will even guarantee that you’ll sell your house or they’ll return the service fee.
Some of the documents include tips on how to prepare the house and stage it for viewing. Check out firms that offer For Sale By Owner listings. The low price may surprise you especially since they offer a very unique service that realtors do not want you to use.