For Sale By Owner
"For Sale By Owner" is a real estate term that
indicates a property which is currently for sale (or previously
sold) without the assistance of a real estate agent. It can also
refer to the seller of such property. Often such property sales
are referred to simply by the acronym FSBO, with sellers being referred
to as FSBOs.
The For Sale By Owner method can help both property sellers and
property buyers save thousands of Australian dollars, by eliminating
unnecessary real estate fees.
For Sale By Owner properties usually advertise in FSBO classified
ads, use FSBO web sites such as smartvendor.com.au,
display "For Sale By Owner" sale boards and otherwise
find ways to sell without agents such as word of mouth advertising
through friends and family.
Whilst the Austalian for sale by owner property market has been
slow to develop in comparison to the US and UK, across Australia
a growing percentage of homeowners are discovering how easy, and
economical it is to sell your own home without using real estate
agents or brokers, not to mention how satisfying!
The main reason for choosing to sell For Sale By Owner usually
comes down to the potential savings vendors can make on real estate
commissions. A vendor selling their property for $500,000 would
usually have to pay around $15,000 to their real estate agent. When
the vendor chooses to sell their property FSBO they can decide to
either sell the property for $15,000 less to get a quick sale, sell
the property for the same price as an agent and pocket the $15,000,
or perhaps a combination of the two. As many homes in Australia,
particularly New South Wales (NSW) are now selling well in excess
of $1 million, imagine the savings that could be made selling For
Sale By Owner. On a $1,500,000 property real estate commission would
probably be in the region of $45,000. Or put it another way, a nice
new car, or a very, very nice holiday after the "hard"
work of selling your own home.
For Sale By Owner is certainly not a new concept. Long before the
advent of the Internet property vendors were placing their own classified
adverts, and erecting "Private Sale" signs outside their
property. There were even companies that assisted property sellers
in selling their homes "by owner".The continued expansion of the
internet has seen a large rise in the number of companies offering
For Sale By Owner services. These companies typically offer an online
database of properties for potential internet vendors, as well as
various for sale by owner marketing tools to target the non-internet
market.
However, before signing up with one of these For Sale By Owner
sites it is worth considering a few points.
- How much do they charge for a For Sale By Owner listing?
Obviously FSBO eliminates the need to pay real estate agent commision,
but vendors don't want to then have to give away all the savings
in FSBO costs.
Packages from smartvendor Australia start at only $49 for a basic
internet package, and range to just $1499 for a comprehensive
advertising solution.
- How many properties are listed on the site?
Despite internet FSBO listings being a relatively new concept
in Australia there are already a number of sites offering private
property sale services. Remember, all of these sites are not equal!
Just searching for properties on these sites will show that despite
often impressive claims, they actually are listing very few properties.
Be aware that surfers visiting the For Sale By Owner site in order
to buy a property will quickly leave if the discover that there
are actually only a handful of properties for sale. This is also
true of region. Some sites may have hundreds of homes for sale
in Queensland, but very few in Western Australia or Tasmania.
- How many people will see my For Sale By Owner listing?
As mentioned, there are already a number of Australian FSBO sites
on the internet. How can you be sure that any potential property
purchasers will visit a site before siging up and paying them
money? Reputable companies such as smartvendor
have optimised their sites so that they will rank highly on search
engine queries. Smartvendor also has links from many specialist
For Sale By Owner websites. Furthermore smartvendor advertise
heavily on pay per click and affilate advertising schemes meaning
that if an Australian is using the internet to buy a property
privatley, they will soon come accross the smartvendor site ..
and your listing! Furthermore, smartvendor also offers packages
which include listings on domain.com.au,
one of Australia's most popular real estate sales websites.
- What about the non internet For Sale By Owner market?
Although many people in Australia are turning to the internet
when looking for a new home, there are still a number of purchasers
who prefer to search by more tradional methods. This is why smartvendor
pty ltd also offer packages which include more "traditional"
elements such as newpaper advertisments, for sale signs and professional
designed and printed flyers to disribute around the local area.
More:
"For Sale By Owner"
- Wikipedia Definition
|
