This is usually one of the first questions of a homeowner. It is a difficult question that does not have a easy answer and all sellers would agree that it seems like it takes forever. The fact of the matter is if all FSBO (for sale by owner) sellers had the knowledge and tools required to market a home, they can succeed. Do not believe for one minute that all homes listed on any local MLS board sell in 30, 60, or 90 days. In fact the average days on market for homes on most MLS boards probably exceeds 120 days and in some cases six months. It is also very common to see homes listed on MLS for over a year. The reason this is of note for the FSBO seller is because most sellers that try the by owner way do not give it enough time. Most by owner sellers give up after 30 to 60 days thinking it will sell quicker with a traditional real estate firm. Understanding the by owner savings in relation to your equity is a factor in the decision making process.
Selling a home will require evaluating your goals and approach after 30, 60 , and ninety days if you have not sold your home. This will also be the same process when listed with a traditional real estate firm in most cases. Your real estate agent will approach you to make price reductions for a quicker sale, cost you more equity.
Remember your chances of selling successfully as a FSBO seller would be much better if given the same amount of time on the market.
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January 19, 2008 at 2:59 pm
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