There’s no doubt that it’s a totally different marketplace now than existed in the US housing market in 2010. But some important statistics from 2010 might come in handy for homeowners considering for sale by owner as a method for how to sell a house. These statistics were compiled and published as the 2010 National Association of REALTORS (NAR) Profile of Home Buyers and Sellers and they should be of interest to every seller, not just those considering for sale by owner. It’s easy to see that homeowners who make the decision to market their own homes have a better opportunity to do so than ever before.
Following are the statistics that will interest a seller who is thinking about putting that for sale by owner sign in her yard. The percentage of buyers who are shopping for a new home and using these tools to do so are: internet 79% (that one’s a whopper, isn’t it?), real estate agent 69% (good news for agents), yard sign 22% (sometimes the old-fashioned ways are best), open house 12% (not too good), newspaper 9% (even worse) and home magazine 6% (might as well throw it in the trash).
Pretty interesting statistics about how to sell a home, aren’t they? Shows everyone who might have had their doubts that posting on craigslist.com and ebayclassifieds.com is the thing to do in order to get buyer’s attention these days. Whether your prospective buyers are working with an agent or not, they are undoubtedly looking for a home themselves online. It’s just too easy and too interesting to avoid. And everyone is so busy that they have to fit their search for a new home into their busy schedule, which can be quite a trick. Many people are surfing around online late at night when the long day is winding down.
As the seller you have the challenge of reaching out to find your buyers right where they are, and doing so in a way that works. According to the statistics above, newspaper ads and agent ads in local homes for sale magazines is not the way to go. A lot more people are looking for homes online, and they are still out driving around looking at for sale by owner signs, too. Besides those two top methods, almost 70% of buyers are working with a real estate agent, too.
So you will want to have your response prepared ahead of time for the day you receive a call from an agent saying she has clients who would like to see your home. She will want to know if you are willing to pay a commission on the sale or not. Of course, she wants the answer to be “yes,” but you are not obligated to pay a commission at all. Make sure you think about this scenario before it occurs so that your interaction is smooth and mutually satisfactory.
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