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2016-12-27 10:22:23
Thinking of Selling of Going FSBO - 6 Reasons To T

In the Salt Lake Area there is a lack of inventory of homes for sale. This makes many homeowners consider attempting to sell their home on their own. In the Real Estate Industry they are known as a For Sale By Owner (FSBO). Here are six reasons you may want to reconsider this option.

1-To sell your quick and for the highest dollar you will need maximum exposure. Recent studies have shown that over 94% of potential buyers search online for a home prior to contacting a Real Estate Professional.The same study shows that only 17% search newspaper ads.

2- Studies show that 51% of Buyers found the home they actually purchased online. 34% found the home they bought from their Real Estate Agent. 9% found their home from a yard sign and only 1% found their new home looking in the newspaper.

3- Buyers with agents probably will not even know that your home is for sale.

One Agent in the market says 'There are only two reasons why I would show a FSBO: If there was no other inventory available or if the price is ridiculously low.'

4- The Real Estate industry has changed. There are too many other people that you have to negotiate with.

A) The Buyer who wants the best deal possible
B) The Buyer's Agent who solely represents the Buyer and their interests
C) The home inspection company that works for the Buyer and will find issues with any house.
D) The Appraiser if there comes any question of value
E) The Title Co.

5- The Paperwork to sell a home has become more difficult

Because the Real Estate Industry has changed so has the paperwork. The increase of disclosures and regulations that are now mandatory to sell your home is one of the reasons that the percentage of people going FSBO  has ped from 19% to 8%** over the past 20 years. **The 8% share represents the lowest recorded figure since the NAR began to collect data in 1981.

6- Buyers want the savings.

Even those who do search for FSBO's, the majority of buyers will automatically deduct 6% from the sales price because they want the savings in their pockets, not the Sellers. This will result in many FSBO's selling their home for up to 20% less on average compaired to Sellers who hire a Real Estate Professional.

If you are considering Selling your home in the Salt Lake Metro area. Give Me a call. Lets  talk about how we can get your home sold quickly and for the highest dollar.

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