Trying For Sale By Owner?
Showing homes throughout the Treasure Valley, I come across a lot of For Sale By Owner signs and I often wonder; How long have they been on the market? Is their pricing competitive with the rest of the market? Why are they choosing to market their property For Sale By Owner?
Because I have many buyers in the Boise area looking to buy real estate, I make sure to go out of my way to call the for sale by owner’s that are in my buyers area of interest to see if the property would be a good fit for my clients. What I’ve noticed is that they don’t put the property in the best position to sell. Many times a FSBO (For Sale By Owner) seller is too emotionally involved in the property to price it properly. They almost always feel that their property is worth more than every other property in the area because they installed rain gutters, or opted for the gas range instead of the electric. While that may help a client choose their home over another, it’s not the reason they come out to see the property especially when you are priced $15,000 above market value.
The FSBO’s that I see selling and selling well are typically in areas that get heavy drive by traffic or have many active neighbors (55+ communities come to mind). If you are thinking of FSBO there are a couple of resources that I would like to point you to before you “dive” right in. I’m only pointing out the flaws in FSBO because let’s be honest, you want to know more about for sale by owner then just rainbows and butterfly’s.
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Keep in mind, a Realtor will always need to put his money where his or her mouth is. They have capital invested in your property when they tell you they are going to sell it for a certain price (signs, lockboxes, flyers, advertising and of course time). If they don’t sell your property in the time you have agreed upon, you pay them nothing. If you decided to go the FSBO route, you could invest up to $1,000 in signage and contract information before you have the home sold.
Any questions about for sale by owner or Boise FSBO’s? Feel free to contact me or comment below.
Chase Craig
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