In Redding's Real Estate market, with home prices rising and a lack of inventory, some homeowners may consider trying to sell their home on their own, known in the industry as For Sale by Owner (FSBO). There are several reasons why this might not be a good idea for the vast majority of local sellers.
Here are the top five reasons:
1. Exposure to Prospective Buyers
Recent studies have shown that 94% of buyers start their search for a home online. That is in comparison to only 17% looking at print newspaper ads. We have an internet strategy to promote the sale of your home to 1,000's of prospective buyers. You can review our Proven Marketing Strategies on our website: www.reddinghomes.com/proven-marketing-strategies/
2. Results Come from the Internet
Where did buyers find the home they actually purchased?
- 51% on the internet
- 34% from a Real Estate Agent
- 9% from a yard sign
- 1% from newspapers
The days of selling your house by just putting up a sign and advertising in the paper are long gone. Having a strong internet strategy is crucial to maximize exposure of your home. See the presentation of our listings at www.reddinghomes.com/buying/
3. There Are Too Many People to Negotiate With
Here is a list of some of the people with whom you must be prepared to negotiate with; if you decide to FSBO:
- The buyer who wants the best deal possible
- Buyer’s agents who solely represent the best interests of the buyer
- The buyer’s attorney (in some parts of the country)
- Home inspection companies, which work for the buyer and almost always find some problems with the house
- An appraiser if there is a question of value
4. FSBOing Has Become More And More Difficult
The paperwork involved in selling and buying a home has increased dramatically as industry disclosures and regulations have become mandatory. This is one of the reasons that the percentage of people FSBOing has dropped from 19% to 8% over the last 20+ years*. *The 8% represents the lowest recorded figure since National Association of Realtors (NAR) began collecting data in 1981.
5. You Net More Money When Using an Agent
Many homeowners believe that they will save the real estate commission by selling on their own.
Studies have shown that the typical house sold by the homeowner sells for $185,000, while the typical house sold by an agent sells for $245,000. This doesn’t mean that an agent can get $60,000 more for your home... As studies have shown, people are more likely to FSBO in markets with lower price points. However, it does show that selling on your own in Redding or Shasta County might not make sense.
Before you decide to take on the challenges of selling your house on your own, let’s get together and discuss the options available in the Shasta County Real Estate market today. You can contact me at 530-222-3800 or email me at firstname.lastname@example.org.