The Pros and Cons of Selling Your Home On Your Own
What is the big "pull" about wanting to sell your home yourself or "FSBO"? Here are some common answers.
Save on real estate commission
More control over the process
No "middlemen"
But if you are not a real estate professional dealing with the market every day, do you really think you know how to market your home? If you live in the type of community where most houses look the same and there are specific reasons for buyers to buy your home, such as school district, proximity to employment and transportation, community amenities, etc, then yes, it may be quite possible for you to sell your home without the help of a Realtor.
But if you live where we live, chance are, your home and its location are quite different from the home down the road. We are blessed to live in an area with many different kinds of homes, sizes and shapes of lots, price ranges and market appeal. We have second-homers, first time buyers, luxury home buyers, and everyone in between. Do you really know where YOUR home fits into the mix?
How do you deal with "tire kickers"? Those seemingly nice folks that e-mail you several times, call you, chat about everything from their kids to their neighbors and make appointments that they cancel more than once. And what about the people that insist on seeing it when you have other plans and can never come back again.
Some facts:
80% of all For Sale By Owners end up hiring a Realtor
90% of all home buyers start their search on the Internet
The most utilized real estate website for home buyers is Realtor.com
The only way to get your home listed on Realtor.com is to have it listedon the MLS
Buyers look for FSBOs because they think they will get a better price than if they went through a Realtor. FSBOs think they will get MORE money because they are not using a Realtor.
Another fact:
Automated valuation sites like Zillow just don't work. It's a great idea, but the data is grossly incomplete and consistently compares "apples to oranges". In a rural market such as ours it is impossible for a computer to tell you what homes compare to what. Besides, the agencies that report closed sale information for public consumption are about six months behind.
Conclusion:
It's probably a break even proposition
The definition of Market Value, is what a willing buyer in an "arms length" transaction will pay for a home exposed on a maximum exposure market. If your home is not posted on MLS, it is not being exposed to the largest available market.
How can I Get My Home on the MLS without using a Realtor?
You can't. The only ones having access to the Multiple Listing System (MLS) are licensed Realtors.
Solution:
If you are confident that you are able to sell your home yourself but want to expose it to the widest possible market at the same time, UlsterCountyByOwner.com offers FLAT FEE MLS listing service through our affiliate, Hudson Valley Homes and Land, licensed Real Estate Broker. For $495, you can have your home posted on the Ulster County MLS, which will also place you on Realtor.com. You pay only a buyer broker fee to any Realtor who brings you a buyer.You can save up to 3% on you commission.
