Throwback Radio Thursday - For Sale By Owner: Part Four
Published Thursday, November 5, 2020
Did you know that our very own Vince DePaul, Director of Your House Academy, started his career as a real estate broker and continuing education instructor in 1976? For ten years he produced and hosted a weekly, live call-in radio broadcast in Chicago called “Your House” where he was known as “Mr. Real Estate.” You will be able to read the content that Vince once broadcasted across the radio! The 11th topic we will be discussing today is for sale by owner, part four.
For sale by owner, or FSBO for short, is a term used for a certain method of selling a property. FSBO means that the owner of the property sells the property without the use of a broker or agent. Sellers who usually use this method want to try and avoid paying the real estate agent or broker commission on the sale. Let us go over the fourth and final reason why someone would want to FSBO their home.
Vince states, “Look, it's not rocket science, you say... all a Realtor does is put a sign in the lawn, run a few ads show the house to a few buyers and make a sale. How hard can it be...? I am confident I can sell this place myself... you are huh...?
Ask anyone, and they will tell you that they know just what a Realtor does... and most people believe it is really an easy job. Before someone can enter the real estate business, however, they need to have achieved a certain level of education, completed specific courses, passed a state exam, and affiliated with a licensed broker. Then they had to go through training, and they had to affiliate with certain professional organizations. When you try to sell your home by owner, you will quickly discover all the things you do not know that a competent and confident Realtor has had to learn. Although it is not rocket science, 8 out of 10 people who try to sell their home by owner, eventually list with a Realtor. That is the real estate reality... and I am Vince DePaul.”
Next week Vince will talk to you about a seller wanting an “X” amount of dollars from a home sale. See you next week!