Selling your own house in Nanaimo

Selling your own house in Nanaimo

There are pros and cons to selling your own house.  The obvious pro is saving on Realtor Fee's.  However, the cons may well outweigh the pros when trying to sell your own house.

Firstly, let's look at the three elements required when selling your own house:

•1.        Product

•2.       A price

•3.       Exposure

FSBO's have the first two elements but lack the most important element which is exposure.  In fact many FSBO's eventually come to the realization that it is very difficult to sell their own house without market exposure.

Below you will see some stat's from the National Association of Realtors in the U.S.   It stands to reason that FSBO stats would be similar here.

  For Sale by Owner (FSBO) Statistics

FSBOs accounted for 9% of home sales in 2010 in the U.S.  The typical FSBO home sold for $140,000 compared to $199,300 for agent-assisted home sales.

Most Difficult Tasks for FSBO Sellers:

•·    Getting the right price . . . 23%

•·    Preparing/fixing up home for sale: 18%

•·    Selling within the planned length of time: 14%

•·    Having enough time to devote to all aspects of the sale: 13%

•·    Understanding and performing paperwork: 10%

The FSBO statistic that stands out the most to me is the following:

69% of home buyers found their home through their Realtor. 

The above statistic emphasizes the difficulty FSBO's have in exposing their home to the buying public.  Selling your own house is not as easy as it seems.

To find out how REALTOR services may assist you in selling your home please call me.