Lethbridge Real Estate - Welist FSBO Service coming soon?
Word on the street is that one of the 'for sale by owner' companies is trying to start up a listing service to add onto their FSBO business model. Nobody seems to know exactly how Welist will roll this out or add it onto their business model, but it will be a leap for them if they can offer this as an additional service for home sellers.
As the tough economy makes it harder and harder to sell a piece of real estate, does it make any sense to use a cheap fsbo service or even a discount real estate brokerage? Will buyers ever find out about your property?
These are important questions. Here is a quick and short answer on it.
The very best buyers are the ones who "have to buy". The buyers who are transfers into our city from someplace else where the prices are higher. These buyers come with money in their pocket and are ready willing and able to purchase. They want quick and clean transactions and do not mess around playing games. These are the greatest buyers and they often pay a premium price to get a quality home and a quick possession date. These buyers also work with a Realtor EVERY TIME.
The worst buyers are the ones who live down the street from you. The know everything about every house on your block. They know who build it, who lived in it, and every time it ever had a plugged toilet. They remember when the land it is one could be bought for $1500. The can't belive the asking prices and are sure that no homes in the city will ever sell and that soon they will all drop by $100,000. They do not have any intention of buying until they sell their house, which is not listed but they are certain it would sell in 2 days as it was build with extra good nails! These are the worst buyers. They like to look at 300 houses a month. They call every for sale by owner in town. They work with New Realtors for about a week, then nobody else wants to spend time with them. These people always shop the for sale by owner services like Welist.
So it is up to you, if you are serious about selling your home you would have to be an idiot to diminish your chances of getting top dollar from a premium buyer by limiting your market exposure, limiting the appeal to buyers, limiting the appeal to Realtors by using a fsbo or paying a discounted brokerage.
Will Welist listing be a success or failure? I expect they will list a lot of homes from desperate and cheap sellers, but just like their business has always been, a very small number will actually ever result in a sale. In fact, I bet that more people who choose to sell with a FSBO service actually list with a Realtor then actual sell using the FSBO service. Do the math yourself and decide if you are serious about selling or if you just like the idea of wasting your time and money.
Robert W May is a Real Estate Broker in Lethbridge Alberta, having now been in the industry for over 23 years. . He was also a licensed Lethbridge mortgage broker and financing expert with Canada First Mortgage of Calgary Alberta for the past 10 years. He is an industry leader always willing to help train and educate others in how to improve their business models for financial and personal benefit.