FSBO or Realtor?

Decided to Sell your home?   Deciding whether to list with a Realtor or try to FSBO (For Sale By Owner) can be a tough decision.  The following quiz will help you understand some of the facts regarding how homes are sold. Take the following quiz and see if you're on the right track:  (Answers follow)

1.  About what percentage of home are sold as a result of media advertising for that home?

a)  More than 50%

b)  About 20%

c)  Less than 5%

2.  How effective is holding an Open House?  What percentage of visitors who visit an Open House buy that house.

a)  More than 50%

b)  About 20%

c)  Less than 5%

3.  Do homes sell through property signs?  What percentage of homes are sold from the property sign?

a)  More than 50%

b)  About 10%

c)  Less than 5%

4.  How important is the MLS (Multiple Listing Service)?  What percentage of homes are sold because the home is listed in the MLS?

a)  More than 50%

b)  About 20%

c)  Less than 5%

5.  Is the Internet an important way to market a home that's for sale?  What percentage of real estate transactions begin through the Internet?

a)  More than 50%

b)  About 20%

c)  Less than 5%

Answers:

1.  c.  Do homes sell through media advertising?  Media advertising brings in less than 5% of sales, meaning less than 5% of the buyers who call on a particular ad of a particular house buy THAT house.  Advertising primarily builds name recognition for the company and is used to impress most sellers. 

2. c.  Will holding open house sell your home?  Chances are not great that opening your home to prospective buyers will result in a sale.  Less than 3% of lookers buy the open house.  Agents hold open house to please sellers and to prospect for buyers. 

3.  b. Are property signs effective in attracting buyers?  Property signs will generate some good calls and about 10% of homes are sold because the buyer noticed that sign and called the agent.

4.  a. How effective is the MLS in generating sales?  The MLS is only open to member brokers and agents.  It is the most effective way available of selling your home.  Over 80% of all homes are sold because the home is listed in the MLS.  Interestingly most properties are sold by a member office OTHER than the listing office.

5.  a. Has the Internet proved to be an effective marketing tool?  Over 80% of all real estate transactions begin online these days.  So, Yes, the internet has had a tremendous impact on the purchase and sale of homes throughout the country.  In addition to our OUTSTANDING WEBSITE, which has one of the highest Google rankings around, we keep up to date with the latest technology to bring buyers and sellers together.  Take advantage of our internet skills and knowledge.

How did you do?  Are you surprised by the results?  Ultimately media advertising and sign calls do make up a large part of our marketing campaign,but please realize that we are cross-marketing with signs all over town.  People who call on one sign from across town may find your home is perfect for them.  Advertising should be done to get buyers in general, but if you're a FSBO, you're fishing in a very big lake for a small fish.  We sell more of our own listings than the average agent because of our comprehensive marketing package and the great website you're perusing right now.  Why not drop us a line to see if we can do business together.  We promise extraordinary service.  We answer the phone!