Market Changes Favor Fsbos


Market Changes Favor Fsbos

Market Changes Favor FSBOs
Drastic paradigm shifts in​ how the​ residential real estate market works have been on​ the​ way for​ several years now .​
The change has really become apparent over the​ last year .​
It is​ easier for​ people to​ sell their homes themselves as​ FSBOs for sale by owner as​ a​ result .​
Let’s look at​ how things used to​ work and​ how they work now in​ regard to​ the​ traditional method of​ using a​ real estate brokerage firm, and​ I​ think you’ll see why.
Real Estate Sales – the​ Old Way
Not so long ago, most people who wanted to​ buy a​ home would go to​ a​ real estate broker’s office .​
They would meet with an​ agent and​ tell him or​ her what sort of​ home they were looking for​ .​
The agent would advise the​ buyer to​ get a​ lender letter if they didn’t already have one and​ give them a​ short list of​ lenders .​
The agent would then do a​ computer search of​ the​ Realtor multiple listing services for​ them .​
After the​ agent found properties which met the​ buyer’s criteria, the​ agent and​ buyer would develop a​ list of​ properties the​ buyer wanted to​ see .​
The agent would print these out and​ make arrangements for​ the​ buyer to​ see them .​
They’d get into the​ agent’s car and​ go from house to​ house until the​ buyer found something he wanted to​ buy .​
Then they’d work up a​ contract offer together .​
Sometimes this process could be completed in​ one day especially if​ the​ buyer already had a​ lender letter in​ hand .​
Sometimes it​ took several days’ sessions.
Real Estate Sales – the​ New Way
Today most homebuyers do their own computer searches .​
They may have favorite sites like realtor.com or​ homes.com, or​ they may do a​ generic search engine search to​ find a​ site .​
Some do search engine searches specific to​ the​ area where they want to​ buy, such as​ San Diego + California + homes for​ sale .​
Results tend to​ turn up both sites with Realtors’ listings and​ sites with FSBO homes .​
Today’s buyers tend to​ call an​ agent about Realtor listings often making an​ appointment to​ meet at​ the​ home and​ call owners about FSBO listings .​
Many buyers are confident enough to​ look at​ both .​
Less experienced buyers may do their own searches and​ then ask an​ agent to​ show them the​ Realtor listings which interest them .​
Then, if​ they feel comfortable with the​ agent, ask if​ the​ agent can show them the​ FSBO homes as​ well .​
Most will .​
Especially if​ the​ buyer is​ willing to​ sign a​ Buyer Broker agreement.
Exceptions
There are now and perhaps always will be people who prefer to​ work with an​ agent in​ the​ old way .​
People who are very busy earning a​ good living are an​ example of​ one group which is​ apt to​ want someone else to​ do pick and​ shovel work for​ them .​
Older people who have lived in​ their homes a​ long time and​ want something they can handle with less work are also apt to​ appreciate full, old fashioned real estate service from agents .​
Still, larger and​ larger numbers of​ people are doing their own initial searches .​
These searches tend to​ turn up FSBOs as​ well as​ Realtors’ listings .​
In fact more and​ more people are actually doing searches specifically designed to​ seek out FSBO listings.
The New Tilt
I think you​ can see why this movement toward buyers’ doing their own initial searches on​ the​ Internet works in​ favor of​ FSBO sellers .​
The propensity for​ some buyers to​ include FSBO in​ their search criteria tilts things even further in​ favor of​ owners who are selling their own properties .​
These seemingly simple changes have completely restructured the​ way the​ residential real estate market works .​
If you’re a​ FSBO, you​ can smile all the​ way to​ the​ bank.






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