A recent report by the National Association of Realtors (NAR) shows that 46% of those selling privately would do it again.
If you are talking to a Realtor, they will state that those that attempt to sell For Sale By Owner will list with a real estate agent the next time. This survey shows that is not true.
In the 2006 report by the NAR, private sellers were asked if they would attempt a private sale again.
- 46% said Yes.
- 44% said they were not sure.
- 10% stated they would use a real estate agent the next time.
These figures show that half of those contacted would do it again. The 44% that were uncertain had an experience that did not discourage them from considering the FSBO solution again.
The figures clearly show that 90% of those selling by owner will or might sell privately again.
So, 10% stated that they would list with a real estate company the next time they sell. Realtors will lead you to believe that this number is much higher and that there are many horror stories for those that did not.
For Sale By Owner sales currently account for 29% of real estate transactions. It is forcasted that this number will grow to 50% in the next 4 years. Successful private sellers will go the FSBO route again to save paying high real estate fees and control their own sale.
Learn more about selling For Sale By Owner.
Private list your real estate on our Owner For Sale website.
Check out our Private Real Estate company.
It is very good site. But year ago I was searching a site where I could sell my house. I found really great site!!!!! It was called Fizber. There were great services: scores and other. I think the best service was real estate forms at http://www.fizber.com/real-estate-forms.htm.
This is in response to the comment left by Kate Pokroshinskaya. Thank you Kate, it is nice to see our blog being read.
It should be noted that the website she is referring to - Fizber.com - is a For Sale By Owner company that covers the US only. Our company - HomesByOwner of Durham Region - covers Durham Region in Ontario, Canada.
The forms offered by Fizber are for US use only. Purchasing these for real estate sales in Ontario is throwing money away. Plus, it is senseless to purchase a form that you have no knowledge of completing. You could stay up all night trying to figure how to complete the paperwork. Since every real estate transaction is unique, certain agreements, conditions, warranties, etc. are necessary to complete the contract for each sale.
If you do spend the time to draw up an agreement between the buyer and seller, signing it before it is reviewed by a legal professional could result in financial suicide. No doubt the lawyer that reviews the paperwork will dispose of it and use their own forms. So this brings us to the point of why purchase something, spend hours trying to figure it out, then have a lawyer tear it up?
Our experience in private sales has shown us there are 2 possible scenarios that will happen when the buyer decides to proceed with purchasing the property. The first one is they will go to their lawyer who will draw up an offer. The buyer then delivers it to the seller, who will have their lawyer review it. As an alternative, the buyer and seller might sit at the kitchen table and verbally agree on the selling price, conditions that must be met, closing date and items to be included in the sale. If they elect to follow the second option, HomesByOwner of Durham Region provides a solution that everyone benefits from.
Our company is owned and operated by an ex-realtor that sold over 700 homes in this area over a 15 period. Therefore, there is a lot of knowledge and experience incorporated in the business. Since we are not licensed to hand out real estate legal forms, we provide a form that the buyer and seller can complete to record their verbal agreement. No signatures are required or recommended. Upon completion, it will provide a lawyer with the information required to draw up the appropriate paperwork to form a legal agreement between the parties.
To use our system makes more sense than buying a form you don't know how to complete. If you do, chances are it has not been done correctly. You are not going to sign anything until it is reviewed by a legal professional. Since laws vary all over the country, some clauses could be missing or have to be edited. Do yourself a favour and if you are selling privately, contact a lawyer the minute the buyer says ‘lets do it'. It will save you time and expense. Plus you won't lose any sleep.
Yes, there a lot of For Sale By Owner companies around. If you check them out, you will find 99% of them sell you a sign and a book to read. Do you want to trust the sale of your most valued possession to using a system like this? As stated earlier, our company is owned and operated by an ex-realtor with years of experience. You have unlimited telephone and email support for as long as you are listed on our website. We know Durham Region and the real estate business. Who better to help you sell your own home than someone that has ‘been there, done that'.
Bottom line? If you are selling your Durham Region real estate privately, our company offers more at a better price than any other FSBO company.