FSBO’s To Solve Low Inventory Real Estate Crisis.
Written by Wena Roeloffze I FSBO Consultant I Realty Club 74 I Brokerage by Coldwell Banker Realty
There has never been a greater time to take the plunge and list your home for sale! It is easier than ever before to take advantage of technology, the current market and the buyer demand to get top dollar for your home.
Yes, there is a process to follow and yes, all the resources are here for you to use. If you are new to FSBO and need to know more about the process in Wisconsin, read it here. You will see our detailed 10 step process to follow, as well as have access to our Wisconsin FSBO Success Package.
We have been working and consulting with FSBO’s for quite some time and built great relationships with vendors and service providers to guide you through the process.
Here are our top 3 tips for FSBO’s to solve the low inventory crisis:
PRICING is a strategy and the most important aspect of advertising your home to the masses of buyers out there at the moment. If you price your home too high, it’s like standing on the shoreline and throwing one line into the water, which will hopefully catch 1 fish. When you strategically price, your advertising becomes a massive fishing trawler with 2 wide nets on both sides catching multiple fish for you to choose from. When you understand that pricing does not equal sales price, and apply this “secret sauce” to selling your home, there is no reason why you should not receive multiple offers or even a bidding war.
OFFERING compensation to realtors in your advertising is like striking gold. I think it is safe to say that you are a FSBO either because you had a bad experience with an idiot in the real estate industry or simply because you want to net more on your proceeds. And although you have every right to feel angry or protective over your most important asset, there is one thing you must not overlook. It is simply that buyer’s agents work with a huge amount of pre-screened and pre-qualified buyers. Instead of relying on your “gut” feel to assess someone who walks through your home, a realtor has a buyer who is already pre-approved and sometimes pre-underwritten BEFORE going on showings. Using this technique will have 100’s of realtors market your home FREE of charge, saving you thousands in dollars and a huge chunk of your time.
DISCLOSURES of your home condition is not a nice-to-have. If you elected to work with an attorney, you will most probably be advised not to fill this out. However, in real life, a qualified buyer who WANTS to pay top dollar, will feel far more confident making an offer on a home where the seller disclosed repairs, previous and current issues and provides open and honest information. An as-is home ad, targets cash buyers and bargain hunters looking for a flip opportunity or a passive income stream. Full disclosures make you look like a super hero without a cape, a homeowner who took care of the home and who deserves top dollar. Know which type of buyer you want to attract. Who do you want to purchase your home and conclude a transaction with? As-is does not mean the buyer will be waving a home inspection. You may even risk losing a transaction because you did not disclose any condition.
Let me bring my real estate expertise and experience to you, while you do your part to give a buyer an opportunity to own a home. Also see my blog on 9 tips to prepare your home for sale.
Here is a testimonial from one of my FSBO clients:
“As a homeowner who has basic tools and knowledge of home construction and repair, I have found selling my home through Zillow an effective way to save 3% sales commission and still get the legal help via the buyers broker by offering 3% to buyer's agent. This gives you, the seller, effective market penetration because Zillow is immediately giving you exposure online through dozens of other online listing sites, Trulia, Redfin, Realtor, etc. Additionally the buyers are confident their agent will be compensated and most buyer's agents are happy to assist as a legal dual agent once an offer is accepted. I've sold three properties this way and actually enjoyed the control I keep by not being locked into a 6 month exclusive seller's agent agreement.
In today's technically savvy world, most people have skills enough to take pics, write a brief description, and throw a little bias into the sales pitch since after all, it's your home! Who better to sell the positives of your own home than you? The tools are there and waiting for anyone with time and desire, so I encourage you to sell that house and then use the agent for the legal paperwork (which is boring and truly where the agent has inside expertise).
Good luck!” - Matt K.
Wisconsin FSBO SUCCESS PACKAGE:
Cost for full package: $750.00 (includes everything listed under a la carte services)
Costs for a la carte services:
Introduction to Title Company, compilation of net sheet, preliminary title search and order of title, in-person walk through of your home, comparable market analysis, list price and marketing strategy plus all legal forms: $200.00 (within 50 mile radius of Milwaukee);
Professional Photography (15 photos), Walk through Video and/or Drone, Virtual Staging (living spaces and 2 bedrooms) plus Floorplan: $550.00 (within 50 mile radius of Milwaukee);
Yard signs - 1 front of home sign and 2 directional signs: $75.00 (includes installation and removal within 50 mile radius of Milwaukee)
You can schedule your 30 minute call here to ask questions and get more detailed information.