Tom Timberlake - Real Estate Broker Licensed - Rhode Island & Massachusetts     

THE CASE AGAINST FOR-SALE-BY-OWER (FSBO)

Dear Home Seller, 
  

If you're considering trying to sell you own home, here are some points to consider.

Ninety-five percent of people who sell their homes do so with the help of a real estate broker.
Only 5% of those who recently sold their home were able to pull it off on their own. That's about half as many previous years, according industry experts.

That figure is sure to drop again this year, according those who cite the current economic crisis, which includes a real estate market saturated with inventory, made worse by a mortgage credit crunch, short-sales and foreclosures.

 

Licensed to practice real estate brokerage in Rhode Island and Massachusetts, we can help. Through our resources, we have assembled a team of professionals who offer client services that cover all aspects of selling and buying real estate.

 

A professional collaboration, this group is comprised of experts from various specialized fields who share a common goal of helping clients and building relationships.

Included in our group are real estate brokers, attorneys, financial advisors, mortgage consultants, tax experts, appraisers, home inspectors and others.

Our team includes experts with a background in full-service advertising, writing, marketing and communications.

Our services include selling and buying real estate, marketing, advertising, communications, media strategy, publicity, eMarketing, Web design, creative writing and copywriting, and brand building/positioning.

 

With expertise like that, it's easy to understand why sellers got more money for their properties, and sold them faster with our help.

 

In fact, those same statistics mentioned above also indicate that sellers collected 32% money more using a real estate broker than if they would have if they sold their home on their own. That's more than five times than what they would have paid in fees associated with a real estate brokerage commission!

 

Please contact us today for more information about how we might help you.

 

Thanks, and best regards,

 

Tom Timberlake

 Top Reasons Why For-Sale-By-Owner (FSBO) Sellers Fail: 

 

Most FSBO sellers just simply give up before selling because they don’t realize from the start how difficult and complex it is to sell real estate.

FSBOs severely underestimate the significant time and energy needed. One of the keys to selling a home effectively and profitably is complete accessibility. 

Many FSBOs count the money they’re saving on commissions, instead of realizing, up front, how much it costs to properly advertise and successfully market real estate. 

Most FSBOs price their property too high. If a home is priced higher than other comparable houses in the market, it’ll get few showings and even fewer, if any, offers. 

Some FSBOs lack the marketing and advertising savvy required to call attention to their home, and separate it a cluttered marketplace.  

FSBOs are often insulted, and can’t deal with the onslaught of buyers who perceive them as targets for “low balling”.  Often, buyers think of a FSBO as somebody in financial trouble and desperate to sell. 

FSBOs don’t understand how to screen unqualified prospects. Many so-called buyers, especially in this market, are simply “Looky-Lous” who are curious and not serious about making an offer. 

FSBOs lack the knowledge about financing options, especially with today’s mortgage credit crisis. One of the keys to selling is having all the necessary information that today’s credit-challenged buyer needs. 

FSBOs get themselves in legal how water by not fully understanding the legal ramifications, documents and contracts required to sell property. Many find out too late that the lawyers fees they must pay to defend themselves in a lawsuit far outweighs the costs of brokerage fees or commissions.

FSBOs are not professional negotiators. Real estate brokers are, and when a buyer is represented, the FSBO is overmatched. Overcoming disputes are often part of the process. When a FSBO represents herself, she might find it difficult, and expensive if she can’t take emotion out of the equation.

FSBOs are often overwhelmed by the paperwork. Or worse, lose deals because of incomplete documents, including all of the disclosures required by law. 
 

FSBOs do not have an adequate network of all the professionals needed to complete a deal, such as mortgage originators, banks, lawyers, escrow companies, insurance companies, town and city officials, home inspectors, electricians, plumbers, carpenters, landscapers, cleaning companies, civil engineers, septic contractors and more.

Most FSBOs consider themselves lucky if they can sell their house. Usually, even if they're sucessful, it's a one-time event. Real estate brokers have the expertise to sell dozens of properties annually.