| F.S.B.O
is simply an abbreviation for,
"For Sale By
Owner". Describing
people who embark on selling
their homes privately without the
use of a real estate broker or
agent.
By
definition, these home sellers
are also referred to as a FISBO
or FIZBO's.
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Did
you know that - Over 30% of all
the homes sold in the United States in
the last year were sold by owner.
They
usually place advertisements in the
"real estate for sale section"
of the local newspaper, put up a for sale
sign, maybe even a web site, hold a few
open houses and they're in business. If
it was only that simple...
Many
people will try to sell their own homes
initially - then when they get
discouraged or grow tired of real estate
brokers calling them at all hours, will
ultimately give in, and list their home
with a real estate company. Or even worse
after their home has been on the market
for months and the listing expires they go
FSBO.
In
the last few years it has become
increasingly popular to skip the real
estate agent completely and sell your own
home privately. Just think how much money
you can save eliminating those
commissions, $7,000 - $20,000? It's
easier to do this in a hot market however
it is all relative and can be
accomplished under any market conditions.
With all the discount and flat fee
agencies opening up it seems that real
estate agents have seen the light, or the
end coming?
For
years people selling their own homes have
been led to believe that the only way to
sell their home was to enlist the
services of a real estate agent, get it
on the Money Lost
System and pay
the big fees. In my opinion, this is such
a load of crap. Real estate brokers will
argue that the private home seller is not
represented adequately and they lack the
exposure and specialized knowledge of a
real estate company.
Let's
put it this way, you bought your home,
you live in your home, you pay the
mortgage and taxes, "who
is more qualified" - you
or some broker off the street.
The
best way to describe myself, an
excommunicated, traitor real estate
agent. I spill the beans about what I
feel can be an unscrupulous industry. I
will share my experiences, insights and
reveal tips on how to sell your home by
owner. It is crafted to educate you about
the right way to sell your home privately
and to give you all the inside tips,
tricks and information needed gain an
advantage in the real estate business.
Before
we begin let me give you an example of a
boss/agent I used to have which clearly
demonstrates some industry wide
inconsistencies.
He
was the "David
Koresh" of the real
estate industry. A fire breathing, sermon
giving FSBO hater..
He
lived and breathed the benefits of his
National real estate companies services
and could not fathom how any
homeowner could live without them. He was
very successful. Fast forward a few
years, I was driving by and noticed he
had a for sale by owner sign on his lawn!
I was so surprised, so...
I
walked up in dismay and knocked on the "door
of his compound"
I
asked him what's up with the FSBO sign?
He invited me in and proclaimed he had
given up his real estate business and
felt that for years he had been misled by
his higher-ups and had strong armed
thousands of home sellers into believing
that selling their own homes was not a
viable alternative. When a big dog like
this changes his tune so drastically, it
must give you something to think about,
it certainly did for me.
So
when you have your home for sale
privately and your "friendly
neighborhood real estate agent "
stops by and goes into his unsolicited
presentation about how great his company
is and what they can do for you. Perhaps
you can ask yourself, does this guy
really believe what he is saying or have
you mistaken the twinkle in his eyes for
dollars signs?
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