For Sale by Owner How FSBO works in Real Estate Sales

by

Peter Butterss

Mention FSBO and many people immediately think of real estate sales. This is not what it is all about though. For sale by owner actually refers to any transaction that allows a consumer to sell something without the aid of a third party. Ebay and Trading Post are both great examples of companies who have enjoyed huge growth helping people do just that and receive far more money than they would have done had they brought in a third party.

The concept of For Sale by Owner aka FSBO has been successfully implemented in the US and Europe for years, in some places even accounting for up to 40% of annual real estate sales. Now FSBO is gaining ground in Australia, and quickly.

Now in Australia we are also seeing these new kinds of real estate marketing companies come to the forefront. Firms like BuyMyPlace.com.au are emerging as the perfect answer for homeowners who want to sell their property with the bare minimum of hassle and expense.

The first step to a truly successful FSBO real estate sale is finding a good company to help you with the leg work. We have used Buymyplace.com.au as an example because the service they offer is very comprehensive and efficient. The company will help arrange the valuation of your home, all the legal stuff and even the photographer to take the pictures of your home to lure buyers in. They also take care of getting your property listed on all the major real estate for sale boards and websites and will write an ad that catches people s attention. They will even get you For Sale for yard if you need one.

Decision Making Time

One of the first things you will need to decide about is the way you want to show your home. You could opt for an Open to Inspection arrangement but that will mean opening up your home to people at any time and they may not all be serious buyers. An alternative is to implement an appointment schedule but some sellers shy away from this because they understand that people have busy lives and that day they notice the For Sale sign may be the only free time they have to view the house for weeks. Another alternative is to use a service like Buymyplace.com s Property Assist A trained member of their staff conducts the showings whenever you need them too, saving you the trouble.

Negotiation Time

Here is the scenario. You have an offer on your home but it is lower than you d like. This is probably because the buyer has been around too many real estate agents. Bid low and work up is the tactic they recommend. However you are in control and who has time for games? Want to get the offer you were looking for? Politely tell the potential buyer that although you would really love to accept their bid because they are such nice people you do have other bids to consider and the asking price is not negotiable. You will be surprised how quickly most buyers will suddenly be willing to meet that original figure.

Handling the Settlement

Now for the final stage in the deal settlement time. The average Australian settlement takes about three months but as an FSBO seller you can set your own schedule with the buyer. It s really not that hard; get the deposit from the buyer, have everyone sign the right contracts and let your lawyer do the rest. There, as you can see, selling your home is not the nightmare that the real estate agency (who wanted your money) made it out to be.

Freedom from real estate agents and their fees are reasons that people are turning to companies like BuyMyPlace.com.au. But it is also the sense of control over their own destiny and the fact that

FSBO

is proven to work that is drawing more and more people towards the idea every day.

Article Source:

ArticleRich.com