What is a FSBO?

For Sale By Owner, or FSBO (pron.: /ˈfɪzb/), is the process of selling real estate without the representation of a real estate broker or real estate agent. Homeowners may employ the services of marketing or online listing companies or market their own property but do not pay a commission and represent themselves with the help of a lawyer throughout the sale.  Okay, so you know I’m a Realtor…what do I think of this practice?

As a home seller, do you know what your home is worth?  My job as a Licensed Real Estate Professional is to know the answer to that question.  Are you overpricing your home?  Underpricing?  How are people finding your home?  How are you managing showings?  Telephone inquiries?  Is it interfering with your job?

With the prevalence of the internet, you can easily advertise your home but for many FSBO’s, you will likely get one of 4 types of buyers:

1.  Serious and in a hurry.  They may be moving here and have three days to find a home, or maybe they just sold theirs and need to get into another or they will lose their contract.

2.  Serious, but not in a hurry.  They can qualify; they may be a first-time home buyer proceeding cautiously or looking for that special home.  Are you willing to hold their hand through the process?

3.  Investors.  They want to buy everything ten cents on the dollar.  These folks are easily identifiable…they are going to quickly make you an offer way under your asking.

4.  Looky Lous.  They really aren’t buyers, they can’t qualify for a mortgage and Agents won’t work with them so they go out and prey on FSBO’s.

If a buyer is serious, they are going to be working with an agent…it doesn’t cost them anything!  Agents are searching the Multiple Listing Service for homes that meet their clients criteria…not Craigslist which is where a lot of FSBO’s advertise.

I will handle all these issues for you…and get your home sold for the best possible price in the shortest amount of time!  The market is moving in Indianapolis, let me serve you and get your home sold!

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Vicki Reed

Is your Realtor serving you?

As I work with Buyers, I’m often baffled by the lack of information on listings…you know, the Multiple Listing Service or as it is know in Indy, the Broker’s Listing Cooperative (BLC) or just MIBOR (Metropolitan Indianapolis Board of Realtors).  Information from this source is what feeds the internet…Trullia, Zillow, Realtor.com and a host of others…95% of Buyers find their next home ONLINE!  Are you certain your agent is getting your home online in the best possible way?

In addition to active properties, I am often trolling the expired listings in specific neighborhoods that my clients are interested in…who knows, it may be the perfect home for my Buyers and the Homeowners may still be interested in Selling!  I recently found an expired listing in the mid $200,000 price range, over 2,500 square feet and the agent had only 8 pictures of the living area, nothing upstairs, backyard and no virtual tour…and you wonder why this property never sold?

When considering who to hire when Selling your home, ask a lot of questions, not just about what they do to sell homes in general, but specifics!  How many pictures do you use?  Do you use a virtual tour?  Do you work with a lender partner?  Besides putting a sign in my yard, what will you do to sell my home?  ASK THE QUESTIONS!  Remember, YOU are hiring ME to represent you in the best possible way in the sale of your biggest asset!

The BLC allows for 24 photos AND a virtual tour…how many photos has your agent put on your listing?  The quality of those photos?  It is not necessary for your agent to hire a professional photographer, we’ve been in the business a while and understand the best way to take photographs and are generally quite good at it.  There are only 500 characters available for describing you property, but we want to make everyone count!

What about information packets in the home?  I always create a packet of information with the sales disclosures, a list of upgrades and features of the home, school, church and shopping information.  This same information is uploaded to the listing.  I also add a stand-up display for the home flyer along with bottled water and snacks for prospective buyers.

I want to Sell your home, I will work to serve you.  I am part of the Number 1 Real Estate Company in the Nation, you not only have me working for you, but every Keller Williams agent in the country.  Click here for videos about my service…then call me!


Vicki Reed