When it comes to marketing a home, many people today are choosing to do it without the assistance of an agent. There are many reasons behind this, but the major reason seems to be for financial purposes. A person who sells their own home can in the end make more of a profit. Even though the preparations such as repair or remodeling can be costly, at the end of the deal the seller still comes out on top.
In 2008, 13 percent of sales were that of a for sale by owner. There are many ways for a seller to market a home . According to the National Association of Realtor’s listing a home on the For Sale by Owner website or internet was 45 percent of the marketing. The use of yard signs came in just shy of that at 42 percent. Using the all time favorite method of word of mouth, such as friends and neighbors were 33 percent of the marketing. Advertising in the paper came in at 22 percent while the lowest was 18 percent which was open houses.
Many people speculate that selling a home is hard . This may be true to some extent, but studies shows that the hard parts come where you would least expect it. According to the study, 13 percent was being able to sell the home within the time frame that was set. Setting the right price came in closely behind that at 12 percent. Preparing a home to be sold, whether it is repairs or just preparation accounted for 11 percent. Understanding the paperwork and completing the paperwork properly was right below that at 10 percent. Some think that being flexible may be the hardest part, but the study shows that only accounted for 8 percent.
The big picture is that a for sale by owner home sold for $153,000.00 while a home that was sold using an agent sold for $211,000.00. That is a $58,000.00 difference! That alone could show anyone why selling or buying a for sale by owner could be beneficial. The seller can save that difference and the buyer can get a great deal.
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