We all know about the impact that for sale by owners have had on Real Estate and especially over the internet over the last few years. Here is a good informative article. First though from my soapbox I am watching the West Wing and thinking about how Realtors spin their services and rates and quite often we will let FSBO’s do what they do because to the owner it all comes down to saving a huge commission and often Realtors do not know how to answer for big commissions. I see these 1% realty type adds all of the time and wonder how the Realtors look so proud when the average Realtor makes $31,000 per year. Shoot higher! When an owner says that they are going to save the commission ask them why the buyer is going to pay the commission to the owner? What kind of marketing does he really have? What makes him sure that he will not be sued by the buyer with no insurance?
I will end this tirade now and continue it again tomorrow
‘For sale by owner’ booms on Net
House-hunters like the no-pressure aspect afforded by the Web, while owners grin over saving money. But not everyone has such a pleasant experience.
For Ben Overton, the Internet is more than just a one-way tool for receiving information. It is also a way to sell his home.
And he is not alone. More and more buyers and sellers are taking to the Internet, a trend that has changed the way real estate is bought and sold.
Overton opted to go the for-sale-by-owner route, rather than use a real estate agent. Last month, when he learned a job change would move him out of the area, he listed his home on a Rockford for-sale-by-owner Web site.
“The information age is providing an avenue for many people to do their own creative marketing and information gathering,” the 31-year-old from Byron said. “The visibility may not be as prevalent as it would be with a Realtor, but the cost savings are substantial.”
While the Internet is helping self-sellers save money by not paying a commission, real estate agents also are benefiting from buyers using the Internet.
A 2004 National Association of Realtors survey showed 74 percent of all home buyers that year using the Internet to find information in their search for a new home.
The survey also showed that over the past decade, the number of buyers who first found homes online steadily increased. In 1995, fewer than 1 percent did so. A decade later, the number jumped to 15 percent.
Continued at the Rockford Register