For sale by owner
The tough housing market in Ontario is making it difficult for real estate agents to sell any type of real estate. Scotiabank has reported a slowdown in home sales in 2008 and prices have dropped. It’s definitely a buyer’s market as economic growth has slowed and people are looking to lower real estate agent fees wherever possible.
The FSBO.com Home Index recently revealed that, on average, FSBO properties were on the market for just over three months and sold for 95% of the asking price. The average amount saved in real estate commissions was more than $10,000. That’s a great incentive to move on to selling real estate on your own.
Not that it’s easy for homeowners to sell their homes without the help of a real estate agent. Finding the right buyer at the right price still takes some marketing savvy and a lot of work. The level of awareness of home marketing has improved dramatically, in part due to the proliferation of television shows and books on the subject of property sales. From remodeling to sales psychology, many people can prepare their home and show it to buyers.
Home sellers and buyers are discovering that real estate deals can be done without paying real estate agents’ fees. However, the question of marketing is a problem that they struggle with. Without having real estate agent listing service and an agent directing active buyers to your home, how do you make contact with many buyers?
If you’re selling a farmhouse in Muskoka, Haliburton, or other rural Ontario towns, there may be no traffic on the street, so putting up a lawn sign may not generate serious offers. Other marketing and advertising vehicles will be needed.
Search engine visibility is key to selling homes today
Internet is essential to sell successfully these days and it is also in the real estate sector. Search engines, DIY sites, and news sites offer great visibility to home buyers and sellers. Even top real estate companies rely on Google to connect with buyers and sellers. Real estate businesses attract significant traffic through Google from people interested in everything from real estate to mortgages to owner-for-sale listings. Fortunately, some websites appear at the top of the search lists and are highly visited. You definitely want to advertise on these sites if the cost is reasonable and if they will serve individual homeowners. Some real estate websites will not.
For Sale by Owner is not a new idea. Services to help sellers reduce expensive real estate agent fees have been around for some time. For these services to be successful, the company’s website must appear in search engine rankings. Some Home for sale by own companies have their own print magazines that can extend their reach to localized markets in small towns in Ontario. When you combine that reach through print and through web search engines, the overall ability to connect buyers and sellers is strong. These services are often low-priced and can help sellers save significantly on real estate agent commissions.
FSBO services often provide a package of services for a fee that may include a listing in print magazines, website listings, and various documents along with signs to be posted at street locations. Visibility is everything, and these packages can give you all the coverage and help you need to sell your home well. Some will even guarantee to sell your home or refund your service fee.
Some of the documents include tips on how to prepare the house and stage it for viewing. Take a look at companies that offer for sale by owner listings. The low price may surprise you especially because they offer a unique service that real estate agents don’t want you to use.