As the economy continues its downward spiral, real estate is taking a huge shift from being a seller’s market to a buyer’s market. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Your expectations must be realistic as far as how much effort it will take, how much time it will take, and how much money it might cost you.
One way to obtain cheap homes is to look for For Sale By Owner (FSBO) properties – or homes that are being marketed and sold by the owners, not an agency or Broker. A real estate pro looks at a house as structure, property and location without any thought to the clubhouse your kids built in the backyard, and that’s how you’ve got to think when marketing your home.
Your prospective buyers may view your home any time of the day or night. On average, 18 percent of FSBOs were unable to sell within their chosen time frame last year. Make sure there are two people in the property at all times. They are not using an agent to help them with the sale and the entire transaction will take place directly with the owner of the home.
No cash back if it’s a Purplebricks seller or a for sale by owner. However, competitive bidding will drive the price up. Sellers look to the Auction method when they are highly motivated to sell, wish to sell quickly because of circumstances or wish to liquidate to re-enter the market as buyers.
Hi G.E. – I’m a long time real estate agent myself, and I can tell you that you handled your FSBO the right way. This means that you can find lots of home bargains, but these cheap houses for sale by owner might not be in a great neighborhood. Homeowners who are wondering how to sell a house by owner should understand that it’s a learning process.