For Sale By Owner Newspapers And Sites, Myths But No Magic

In this day of decreasing prices and fewer buyers many people are looking to save money anyway they can

. Unfortunately, millions of people trying to sell cannot afford to pay the traditional 6% commission. Doing so would result in their coming out of pocket with money they don't have.

What are their alternatives?

One is going it on his or her own without an agent. The options to market are limited by doing so. A sign in the yard statistically sells more homes that either newspapers or For Sale By owner Internet sites if the location is one that attracts drive by traffic. As we all know, the days of thriving newspapers and large Real Estate sections are history.

I can remember on a Sunday seeing multiple photos of color pictures of homes and numerous classified ads marketing homes by both agents and homeowners. These have dwindled. Newspapers are now driving traffic to a website and selling space on the site. Specialized newspapers advertising these homes By Owner are also on the decline. Unfortunately, people still pay rather large sums in bigger markets to advertise By Owner with little success. Some of these periodicals are affiliated with discount Real Estate agents and can save the consumer money vs. the traditional approach.

A further word about For Sale By Owner sites. They can brag about much traffic that when further analyzed is not so much compared to other websites affiliated with Realtors. Some of the biggest sites in Real Estate like Realtor.com, Real Estate.com, Zillow, Trulia, Move.com, HomeGain, and others attract millions of potential buyers because of the size of homes offered.

In my city there are over 5000 homes on the local MLS compared to several hundred on the top By Owner sites. Many of the homes on these sites are already sold, rented, or listed with a Realtor. No local MLS Board or Real Estate Commission is policing these sites to stay current. The sites promise a lot and don't deliver in most cases. They charge too much for what they do in my opinion. They admit defeat and state, oh by the way; the best way to sell your home is to go into the local MLS. That is a truthful statement. They will refer you to a local flat fee Broker and take the lion's share of the commission. They can sell you products that you can't use if you list. It is more prudent to list directly with a Flat Fee company to avoid delays and unnecessary expense.

by: Joe Glad

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