Why is it smarter for a potential home seller to list with an agent as opposed to attempting a for-sale-by-owner? Here are 7 key factors that deter most homeowners from selling without an agent:

 

 

  1. The decline of print advertising as a major lead generator In the past, newspaper ads would produce a fair number of calls on FSBOs. Today, a three-line ad in the local newspaper has little chance of competing with the wide array of information online, including video, color photos, 360-degree virtual tours, and a wealth of community and lifestyle data.

  1. Buyers seek rich content IDX and VOW solutions, and Realtor® websites provide access to virtually all the listings in most market areas. Most buyers comb these major sites simply because it’s more efficient than searching for single properties.

  1. Instant gratification A third problem for FSBOs is that people who surf the Web usually are seeking instant gratification. In fact, most visitors will only visit a website once and stay for 15-30 seconds. If the FSBO has no strategy for capturing the lead’s contact information or for immediately following up, the lead moves on to the next website. Even if the Web lead does contact the FSBO, unless the buyer gets back to the FSBO quickly, that lead is gone.

  1. Buyers want the savings Even for those who do search for FSBOs, most buyers automatically deduct 6 percent from the sales price because they want the savings in their pockets, not the seller’s. The result is that many FSBOs end up selling for up to 20 percent less on average as compared with sellers who hire a Realtor.

  1. The needle-in-the-haystack effect A major challenge for FSBOs is the needle-in-the-haystack nature of the Web. There are millions of websites including the hundreds of thousands of company and agent sites. Without search engine optimization, meta tags and a host of other branding strategies to achieve high Web placement, the probability of the Web buyer finding the FSBO’s single listing online is small.

  1. Web leads are reluctant to share contact information Another issue FSBOs must face is that most Web buyers are reluctant to provide contact information to a stranger, especially during the search process. Instead, buyers identify homes they want to see and then normally contact a single agent who can show them everything they want to see, not just a single home.

  1. Availability for showings Because FSBOs don’t have lockboxes, that means the FSBO will need to be present for every showing. There are numerous challenges with this situation, the most important of which is safety. Is the person who wants to see your house legitimate or not? Even if you accept an offer from a potential buyer, how do you know whether the person meets the income and credit requirements to close the deal?

If you are even considering selling your home, please give our office a call. We would be happy to provide a no-obligation Comparative Market Analysis of your specific property, including actual sold and active properties.  You can also email us with any specific questions you may have about your individual property of the overall market. If you know someone looking to buy or sell, referring your friends and family to us is the greatest compliment you can give!

Office Phone: 830.265.8865

Email: info@thebussegroup.com

 

*Info provided by: Bernice Ross. http://www.inman.com/2012/04/26/8-reasons-fsbos-should-list-with-a-realtor/