To FSBO Or Not?

for sale by ownerAs you may have noticed, there are a lot of people who are selling their homes today. The importance of a real estate agent as an intermediary is reflected in the numbers, both in Australia and in the UK. Excluding off market transfers, agents generally sell between 90% and 95% of all residential properties in Australia – and this probably won’t change any time soon.for sale by owner

They’re paying for a lot of extras: signage, flyers, photography, MLS listing, attorney (required in multiple states for FSBOs), home warranty (optional but hard to sell without one), home inspection, a wood destroying pest inspection, credit report for buyers (if applicable), contracts and the list goes on.

This exposes your property to all Real Estate agents through the MLS database and most potential buyers through (remember over 70% of buyers found the property on the internet BEFORE they hired an agent) which enjoys over 7 million monthly visitors that generate over 350 page views.

As a contract between the owner of the property in the state of Michigan and the buyer or purchaser of the aforementioned property, a land contract in Michigan allows the transaction to take place for a pre-determined and specified monetary amount, in exchange for the rights to the land or home.

According to another study done by the National Association of Realtors, in 2012 90% of homebuyers looked for their new home online FSBO sellers can purchase ads in magazines or newspapers, or try and host the listing online, but real estate agents have more ways to get visibility to a home, like the Multi-Listing Service.