By owner and flat fee MLS listing make for a powerful FSBO
Throughout America, there are hundreds of thousands red and white ‘for sale by owner’ signs all trying to garner attention and sell their homes. Selling anything involves marketing. Avon does it door to door. By owners do it by hanging a sign that says ‘for sale’ and awaiting a serious buyer But, of the available qualified buyers, how many see that FSBO sign and are they willing in this complicated real estate market to be unrepresented and buy without a Realtor?
The message ‘for sale by owner’ on a property is more effective in a seller's market. These days, seeing a “for sale by owner” sign is common and the sign may even be faded by time. Not a good marketing message to a buyer that may see your home as ‘old news’ and offer you less than what it is really worth.
Being that the majority of by owners will pay a buyer's agent a commission if they sell their home, it would only make sense to list their home with a flat fee MLS broker.
Flat fee MLS brokers charge a flat fee for listing and marketing the home on the MLS, Realtor.com and other important websites. This accomplishes a well-rounded marketing plan which capitalizes on the strengths of the MLS, the local Realtors and the Internet while keeping the independence of selling by owner.
The next two important keys to a successful sale are buyers and the price. To get both on the same page, list the home in the MLS exactly where you sell it and this will increase buyer traffic and ultimately a sale will occur.
In the world of Realtors, they care about helping buyers and getting their buyer a good deal. Of course they want the commission on the sale but focusing on the other things, such as getting a good value for their buyer, will ultimately get them that commission anyway! Realtors also have some personal interests in getting their buyer a good deal.
Sure the buyer's agent wants their buyer to spread the word that their Realtor got them a great deal, but as well, the Realtor is fighting the appraisal battle. If they offer a price that a board certified appraiser can't support with market comparable, then the deal is dead. Unless it's a cash buyer and not subject to an appraisal or possibly the deal can be re-negotiated.
Pricing a home competitively does draw out more buyers and ultimately more offers but it also allows the deal to happen at a price that will be supported by comparables in this highly difficult appraisal marketplace.
For sale by owners will also find that working with a Realtor (buyer's agent) will speed along the closing. More deals close when a qualified professional buyer's agent is handling the deal.
For all these reasons, by owners should embrace all the Realtors in their local market by listing with a flat fee MLS broker.
This article is filed under For Sale By Owner. View other articles in For Sale By Owner.
This article is filed under Flat Fee MLS. View other articles in Flat Fee MLS.