FSBOs, why they don't always sell
Advertising is what sells a house. Getting it out there that your home is for sale. Whether you are a for sale by owner or have your home listed by a real estate agent it needs to be advertised.
The number 1 reason that for sale by owners don't succeed is the lack of advertising. You need to have:
1) a for sale sign out front with a phone number that goes to you directly
2) listing brochure out front of the house with all the facts of the home (the data sheet)
3) getting listed on the local Realtor multiple listing service.By being listed on the local MLS (multiple listing service) in Michigan your home's information is put on multiple websites like http://www.realtor.com/ and http://www.moveinmichigan.com/ . Your home is available to thousands of real estate agents and their clients by having an exclusive right to sell contract with a Realtor. Your home is on the INTERNET and available to thousands of real estate agents across Michigan 24/7. Whenever a client comes in and asks about Michigan Real estate and the criteria meets your home's criteria,.... your home will be one of the homes that will be emailed or shown to the prospective client. That is why most FSBO's don't sell, they don't reach a big enough buying audience. It's that simple.
For sale by owners usually don't have the time or dedication to put the advertising out there. They can get listed on the MLS but if they do not have an exclusive right to sell contract then they may not even be pulled up by the Realtors. The MLS was set up by Realtors so their clients and themselves can advertise and see all the properties listed easily any time of the day or night. The MLS is the give and take of information, and advertising at the touch of a few buttons. (That is not available to most for sale by owners)
Sure a for sale by owner that advertises well, has open houses, has good traffic by the house, puts the word out to his neighbors, family, friends, and co-workers will have a good chance of selling their home if it is in good conditions and priced right for the market.
But over 80% of the homes are sold by Realtors, real estate agents, and the MLS. So if you are thinking of selling your house, advertise, advertise, advertise! Go to http://www.russravary.com/ for more home buying information, home selling tips, search michigan real estate
May your home sell quick whichever way you decide to sell. Russ Ravary
Showing posts with label FSBO. Show all posts
Showing posts with label FSBO. Show all posts
Tuesday, July 17, 2007
Wednesday, February 28, 2007
With it being a buyers market in Southeastern Michigan it has become tougher on Realtors and For Sale by Owners, (FSBO) trying to sell their houses. If you do not have to sell your home do not put it up for sale. However it is going to take 3-5 years to come back to prices a year or two ago.
The three main reasons a house does or does not sell are location, price, and condition. So if your house is not selling think about this.
Location. Is your house on a main road, or back up to a main road? Can you see a shopping center, industrial buildings, cell tower from your house? Can you hear traffic from your house? Is a School close to your house? Does a lot of traffic come by your house? If you answer yes to any of these questions then location is a problem for you. What that means is that your house will have to be priced better than other comparable homes in your area and it should be nicer than other comparable homes. That is what will make it sell. You can't change those outside factors so you either have to reduce price or improve the house.
Condition. Some of the items that make a home in the "top condition" in Michigan are. Granite or Corian counter tops, updated wood cabinets, updated bathrooms, freshly painted (neutral is a plus), like new carpeting, walkout and finished basements. Do you have any of these? What are you lacking? These homes bring top dollar and move faster! Not many houses are selling in thirty days. If it is selling right away it is priced low to move it.
Price. Right now is Michigan price is the key. There is no way around it. It is not price it right, it is price it lower than your competition. Those are the houses that are selling. If you are not getting traffic then you need to lower your price.
Bottom line in Michigan is that people know it is a buyers market . Whether it is Oakland County, Livingston County, or Wayne County it is the same. They are taking their time to make decisions, because they know the house will be there. They know the price may drop just by waiting a week or a month. If they don't buy your house they will get a deal on the next one.
Buyers Bottom line is that unless you absolutely have to have a house, you should be putting in offers of 10% - 20% less for a house. Negotiation is the key now.
If you are selling your house search your competition on my website http://www.russravary.com/ Search the MLS. Put in number of bedrooms, number of baths, 150 square ft less than your house, and 3 cities around yours including yours. Look at your competition, and your price how do you compare. Thanks and have a great day. Russ Ravary
The three main reasons a house does or does not sell are location, price, and condition. So if your house is not selling think about this.
Location. Is your house on a main road, or back up to a main road? Can you see a shopping center, industrial buildings, cell tower from your house? Can you hear traffic from your house? Is a School close to your house? Does a lot of traffic come by your house? If you answer yes to any of these questions then location is a problem for you. What that means is that your house will have to be priced better than other comparable homes in your area and it should be nicer than other comparable homes. That is what will make it sell. You can't change those outside factors so you either have to reduce price or improve the house.
Condition. Some of the items that make a home in the "top condition" in Michigan are. Granite or Corian counter tops, updated wood cabinets, updated bathrooms, freshly painted (neutral is a plus), like new carpeting, walkout and finished basements. Do you have any of these? What are you lacking? These homes bring top dollar and move faster! Not many houses are selling in thirty days. If it is selling right away it is priced low to move it.
Price. Right now is Michigan price is the key. There is no way around it. It is not price it right, it is price it lower than your competition. Those are the houses that are selling. If you are not getting traffic then you need to lower your price.
Bottom line in Michigan is that people know it is a buyers market . Whether it is Oakland County, Livingston County, or Wayne County it is the same. They are taking their time to make decisions, because they know the house will be there. They know the price may drop just by waiting a week or a month. If they don't buy your house they will get a deal on the next one.
Buyers Bottom line is that unless you absolutely have to have a house, you should be putting in offers of 10% - 20% less for a house. Negotiation is the key now.
If you are selling your house search your competition on my website http://www.russravary.com/ Search the MLS. Put in number of bedrooms, number of baths, 150 square ft less than your house, and 3 cities around yours including yours. Look at your competition, and your price how do you compare. Thanks and have a great day. Russ Ravary
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