Why Sell For Sale By Owner?
Is this the same Multiple Listing Service (MLS) to which all area Realtors belong?
Yes. All participating MLS REALTOR®s belong to their local association of REALTOR®s. Wherever you may be located, we will have a Nationwide Network of REALTOR®s and will place you in the proper MLS for your area.
Will my listing appear on the Web Sites of other local Real Estate Companies?
Broker networking is where brokers give each other permission to share their listings on each other’s web sites. Your listing may be displayed on the website of other local real estate companies. Thus a buyer working with another real estate company who does a search of that company’s website may find your listing in their search results.
If I find my own buyer, will I still have to pay a selling commission?
No. You still maintain the right to sell your property on your own. If you find your own buyer, you will not be obligated to pay a commission on the sale.
Will Realtors show my property even though I went Flat Fee Listing instead of paying a high commission?
Yes. As long as your "buyer agent" compensation is competitive, REALTOR®s are unlikely to turn down earning a commission. In fact, they have a fiduciary duty to their buyer clients to show them all of the available properties that match their criteria. Regardless of whom you listed with or what you paid, your listing will the same as any other listing in form and style.
Will Realtors contact you or me for a showing?
You. REALTOR®’s will call before a showing or a preview of your property.
How long is the MLS listing period?
Listing term varies per listing program, but can be up to 12 months.
Must I have a lockbox?
No, but REALTOR®s depend on quick access. REALTOR®s show many properties within a very short period of time, access to your property may make a difference. We strongly recommend a REALTOR® lockbox.
How do I make changes to my listing?
You may make multiple changes to your listing by contacting us. There may be a charge for changes other than price or status after initial entry and review.
Will my listing look the same as a full listing commission to a traditional agent?
Yes. Your listing will look like all the other listings on your local MLS.
Is it true that Realtors using the Multiple Listing Service (MLS) sell most houses and that they usually sell for a higher price?
Yes, it's true on both accounts. According to the National Association of REALTOR®s, approximately 85% of all U.S. properties are sold through Brokers using the MLS and properties listed on the MLS average net proceeds of 7% higher than properties sold for sale by owner. The MLS will give you maximum exposure and this is the key to a successful transaction. There is no other effective way to sell your property and be successful.
4. MORE $$$ IN YOUR POCKET: Obviously, this is the main reason that most FSBO home sellers are selling their home themselves. You can save up to 7% commission by doing it yourself. On a $200,000 home you may save up to $14,000. Here’s another way of looking at it. Let’s say that your home will sell for $200,000 and you owe $144,000 on the mortgage… so you have $56,000 in equity. If you pay $14,000 in sales commissions, that’s 25% of your equity! Sell it yourself… and you'll save a very large portion of your equity!
5. YOU CAN SELL FASTER: If you list your home at a full commission with a real estate agent, you'll probably inflate the asking price to cover the cost of the commission. Two to four months later you'll come to the painful realization that no one is going to buy your home at that price, and you'll end up reducing the price (or accepting an offer) equal to the original amount you would have asked if selling by owner. Do it right the first time, and avoid taking the loss.
6. LESS UNCERTAINTY: Because you meet the prospective buyers, you have a much better idea how interested people are, what they like about the home, how serious they are about buying and what their timeframe and situation is. The direct feedback is easier to live with than wondering how things are going, or worse, why no one has made an offer yet.
7. IT'S EASY: "If you can sell your own car, you can sell your own home... it's that simple" said one of our home sellers. And he's right, once you find a buyer... lenders, lawyers or title companies take over (depending on your area of the country).
Call them at (952) 929-7355 with all of your real estate questions.
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