For Sale By Owner
Selling home by owner is known as a For Sale By Owner, otherwise known as a FSBO. These transactions are commonly seen when homeowners want to maximize their profits by not having to pay a commission.
Statistics show that when a Bergen County Realtor is contracted to sell a home, the owner earns a higher profit. The profit would be enough to cover the commission.
Selling home by owner without the representation of a Bergen County Real Estate Expert could cost a FSBO more money. Research shows that FSBO's sell their homes for a significantly lower price than those sold through a Bergen County Realtor.
Industry insiders claim that For Sale By Owner failure rates range from 75% to 95%. FSBO are left with the burden negotiation, scheduling appointments, follow up with all involved parties until the deal is closed.
If the FSBO never sold a home, they can leave themselves open to potential legal problems and a smaller profits.
When homebuyers are searching for Bergen County NJ Homes For Sale, they may view a FSBO. Most homebuyers target a FSBO because they know they are trying to save the real estate commission. This is why a homebuyer will offer a For Sale By Owner a low offer.
Homebuyers realize that they can get a bargain when they purchase a home from a FSBO.