House For Sale By Owner: Private House Sale Is A Growing Trend
For sale by owner
The tightening of the real estate market in Ontario is making it difficult for real estate agents to sell any type of real estate. Scotiabank has reported a slowdown in home sales in 2008 and prices have come down. It’s definitely a buyer’s market as economic growth has slowed and people are looking to reduce real estate agent fees whenever possible.
The FSBO.com Home Index recently revealed that, on average, FSBO properties were on the market for just over three months and sold for 95% of the asking price. The average amount saved in real estate commissions was over $10,000. That’s a great incentive to move into selling real estate on your own.
Not that it’s easy for homeowners to sell their homes without the help of a real estate agent. Finding the right buyer at the right price still requires some marketing savvy and a lot of work. The level of knowledge about home marketing has improved dramatically, in part due to the proliferation of television shows and books on the subject of home sales. From remodeling to sales psychology, many people can prepare their home and show it off to buyers.
Home buyers and sellers are discovering that real estate deals can be done without having to pay real estate agents’ fees. However, the question of marketing is a problem they struggle with. Without having a real estate agent listing service and an agent to funnel active buyers to your home, how do you make contact with many buyers?
If you’re selling a farmhouse in Muskoka, Haliburton, or other rural Ontario towns, there may be no traffic on the street, so placing a sign on your lawn may not generate serious offers. Other marketing and advertising vehicles will be needed.
Search engine visibility is key to selling homes today
The internet is critical to successful selling these days and it is also critical in real estate. Search engines, DIY sites, and news sites offer great visibility to home buyers and sellers. Even top real estate companies trust Google to connect with buyers and sellers. Real estate companies draw significant traffic via Google from people interested in everything from real estate to mortgages to homeowners-for-sale listings. Fortunately, some websites appear at the top of search listings and are highly visited. You definitely want to advertise on these sites if the cost is reasonable and if they will serve individual homeowners. Some real estate websites won’t.
For Sale by Owner is not a new idea. Services to help sellers cut expensive real estate agent fees have been around for some time. For these services to be successful, the company’s website must appear in search engine rankings. Some Home for sale by own companies have their own print magazines that can extend the reach to markets located in small towns in Ontario. When you combine that reach through print and through web search engines, the overall ability to connect buyers and sellers is strong. These services are often low in price and can help sellers save significantly on real estate agent commissions.
FSBO services often provide a package of services for a fee which may include a listing in print magazines, website listings and various documents along with signs to put up at street locations. Visibility is everything, and these packages can give you all the coverage and help you need to sell your home well. Some will even guarantee that they will sell your home or refund your service fee.
Some of the documents include tips on preparing the house and staging it for viewing. Take a look at companies that offer listings for sale by owner. The low price may surprise you especially since they offer a unique service that real estate agents do not want you to use.