Denise Rubin Talks Real Estate # 2 FSBO’s are a waste of time October 2008

FSBO is an abbreviation meaning For Sale by Owner. The majority of owners seem to think all they have to do is list their properties on the internet, hang a sign and fill out some paperwork when it sells right? WRONG.

According to the National Association of Realtors, more than 70% of FSBO fail to sell their properties. Most individual home sellers do not know enough about CMA’s, proper pricing, the closing process and ways to reach people qualified and interested to buy their homes. In addition I am sure everyone agrees that properties in South Florida are staying on the market longer these days and the time is prolonged when sellers do not hire realtors.

Based on a recent study people who are Realtors net 16% more than FSBO’s that manage to sell themselves. Selling a home is one of the most important sales in your lifetime. Why wouldn’t you want to pay a commission? Would you have an operation if the doctor did not charge you? What matters is the amount of money you leave the closing table with.

A home in my community was listed with a FSBO company that charges a nominal fee to put the property in the MLS. Another realtor sold the property, so they had to pay an additional three percent. This was a community in Aventura, where all the homes are similar. The subject property was four bedrooms on the water, and it sold for $869,000. At the same time I listed a neighboring home for 6 percent commission. It was off the water and only three bedrooms but I sold it for $1,000,000. In this case, there was no expert advice to the homeowner and they received too little for their choice waterfront home, although they did save on the commission.

Especially in today’s market it takes a lot of expertise to sell a property, as listings have piled up more than in the last few years. An owner can try it by themselves, but will most likely end up turning to a realtor for help after wasting valuable time. If a property is vacant every month that it sits on the market costs the owner monthly upkeep, taxes, maintenance and mortgage payments. Once again, you get what you pay for and to get the right exposure you need the right realtor.

The South Florida real estate agent representing your property will do everything necessary to get the job done and sell your property for the highest price. They will put it on the MLS with pictures and offer a virtual tour, advertise locally, nationally and internationally. A skilled realtor will provide internet exposure, create a property brochure, and mail just listed cards to neighbors, his or her network and other realtors.

The right realtor will leave no stone unturned to give their property maximum exposure. Whatever the objections faced while attempting to enlist a reluctant client, a good realtor knows that winning business will require knowledge, perseverance and confidence. Aside from effectively addressing buyer objections, questions are asked to get to the core of the seller’s feelings. Once these are addressed, we are on our way to turning a FSBO to a FSB-US.

So call Denise Rubin Realty for the best results from one of our multi-lingual professionals. We speak your language. Call 305-932-9326 or visit Aventura real estate agent Denise Rubin's website.