LIMCA - Long Island Comparative Market Analysis

"Avoid paying a real estate commision!!!"

The common advertising campaign of the local FSBO offices as well as the mindset of usually rational people who believe it would be cheaper to sell on their own.

The Real Estate industry knowingly sees FSBO homes as future business. they know there is much more to selling homes than just putting out a sign and taking out an ad.

So what exactly is involved when going FSBO?

Just hundreds of dollars to do everything YOURSELF!!! and No GUARANTEES!!

• YOU have to do all of your own advertising. All at your expense. Think about the size of the ads you are competing with from the big agencies.

• YOU have to Qualify everyone that walks through your door. Can they even afford to be there?

• YOU have to show your home. If you are unavailable your home is off the market!!!

• Who is even walking through your door? With no information on these people your safety is at stake.

• Where do you price your home? Well you are at the right place for that, but we do not advise getting a CMA and attempting the sale of your largest investment without the experience of a licensed agent.

What do you get for your money with a FSBO service?

A picture and a desription on their website. Minimal exposure at best. No print advertizing. No Multiple Listing Service exposure. No agents bringing qualified buyers. Not much of a chance to sell your home.

Not bad.... If your home actually sells.

If you are selling on your own and your home doesn't sell then you get your money back Right?......WRONG!!!! It may sound like a silly question, but something to think about.

Months can be wasted hoping your home sells.

Now the market has changed and money has been lost in more ways than one.

In this society, people are always looking for the best deal, the lowest price, the cheapest way out. This is why FSBO companies are still in business and people still think they can sell on their own, and get the best price.

Unfortunately FSBO offices have NO INTEREST if your home sells or not. They have already been paid.

FSBO Buyers are also bargain hunters and will offer much less for a FSBO house. Often they will offer an average of 16% less.

They are discounting the price of the house by 10% assuming typical owner markup and taking off 6% for the money they figure you are saving by not paying a commision.

You should only list with an agency that doesn't get paid until your home is sold at a price you are satisfied with. An agency that will bring to you the most services the bring the maximum number of qualified buyers to get your home sold quickly for the best possible price.

 

UPDATE:June 30th 2003

For sale by owner companies and websites make you believe it is as simple as purchasing some material from their site on how to sell your own home.

Unfortunatly for unknowing sellers, these sites also know that greater than 90% of FSBO homesellers eventually list with a qualified real estate agent and use it against unsuspecting sellers.

They actually make a list of sellers who will try to sell on their own and then sell this list to licensed real estate agents.

The homeowner has just wasted their money on useless info on how to sell on their own and wind up going with an agent anyway.

DON'T WASTE YOUR TIME OR MONEY!!!!