Why Some For Sale By Owner’s Don’t Sell on Their Own
You may be faced with a number of challenges when selling a home on your own. Granted some homes actually do sell on their own (for sale by owner). The problem is – the stats are against you…
1. When you are selling on your own – you are basically waiting for a buyer to call you directly. This would be the same chances that a Realtor has of ‘double ending’ a sale – which amounts to the same thing – he or she gets a call directly from a buyer. The stats for this happening on MLS listed properties is less than 5%. Meaning that 95% of all sales comes through another buyer agent. SO – basically you are waiting for the same thing – a buyer to call you directly…..
2. When it comes right down to it – there are some homes that are just destined to sell on the MLS system. This could simply be that the demographic attracted to this type of home – prefers to work with a REALTOR®, or they are just not comfortable dealing with the owner directly. Or for more expensive homes – buyers are alittle more resistant or hesitant dealing either without representation or the owner directly.
3. The other resounding reason is really quite obvious: there are around ~3000 hungry Edmonton area REALTOR®’s all motivated to bring buyers through the door. This is quite a herd of sales people working on your behalf. Once a REALTOR® posts a property on line – it gets put into the general MLS mix and is open to all 3000 REALTOR®’S to help sell it. When you are selling on your own – you do not have this force working on your behalf. And keep in mind even with that force behind you – sometimes it still takes a while to sell. I can’t imagine how much longer it would take to sell that same property privately.
KENNEDY Real Estate understands that everybody has different needs for selling and a variety of methods to sell their property. The above is by no means a comprehensive list – but probably the most compelling.
** Please Note: At KENNEDY Real Estate, we offer a competitive (full) Buyer’s agent commission. After all – if 95% of all sales are brought in by the Buyers Agent -we certainly like to thank them with competitive compensation.
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