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Athena Chilicas Saldanha
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I am a Professional Realtor in San Mateo and Santa Clara County of California. I truly enjoy what I am doing as a Realtor and I love working with my clients
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Athena Chilicas Saldanha answered:
Hi Dan! Great question! FSBO selling works well in markets where it is a "Seller's market". 2007 and 2008 are predicted to be more of a "Buyer's market" due to several factors: chaotic state of the lending industry, the impact of the foreclosure market, the terms of the loan and the impact of the media on buyer confidence.
The exposure from a FSBO on the market is usually between 2-5%. The exposure from a Realtor who has truly embraced the Cyberspace Market is in the high 80%. This is huge! This means that the Realtor will bring more qualified buyers to the table to bring you as the seller the strongest offer.
In addition, the buyer has ability to know what the comparables have sold for and will reduce your asking price by 5-6%. Your gain is a negative due to the fact that you spend time and money in selling your home for less walk-away dollars vs. using a Realtor and paying commission.
Now, if this was a seller's market where you could put a "for sale" sign in your yard and wait for the multifple offers - I would recommend that you give it a try... But that is not today's market.
The exposure from a FSBO on the market is usually between 2-5%. The exposure from a Realtor who has truly embraced the Cyberspace Market is in the high 80%. This is huge! This means that the Realtor will bring more qualified buyers to the table to bring you as the seller the strongest offer.
In addition, the buyer has ability to know what the comparables have sold for and will reduce your asking price by 5-6%. Your gain is a negative due to the fact that you spend time and money in selling your home for less walk-away dollars vs. using a Realtor and paying commission.
Now, if this was a seller's market where you could put a "for sale" sign in your yard and wait for the multifple offers - I would recommend that you give it a try... But that is not today's market.
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