For Sale By Owner – Residential Real Estate Sales Strategies

Edmonton is an evolving city with a wide range of house values expanding over several neighborhoods. It is also very common in Edmonton to pay realtor fees of 7% on the first $100,000 of home value and 3% on everything after (split between each realtor). This has lead to many sellers looking to another option. Many home owners will look to sell their home themselves ‘For Sale By Owner’ (FSBO) but how do you achieve this goal? The first step is to understand the For Sale By Owner market place!


Who Buys For Sale By Owner Houses?

Comparable House Sales is run by realtors with a lot of experience in Edmonton’s residential marketplace. Many of us have bought For Sale By Owner houses before or given friends and clients advice on how to sell your home without a realtor. After spending a lot of time in this marketplace it is clear there are certain conditions that allow for a successful sale without a realtor.

The primary buyer of For Sale By Owner houses is renovation companies. If you have an older house that has not been maintained very well FSBO may be a useful strategy! These companies usually expect to get a discount in relation to houses on MLS but many houses that have not been maintained well will end up going for a discount on MLS anyways. This could be an easy strategy to sell your house faster without realtor commissions! Use your Sold Listings we’ll provide for free to ensure you’re not getting ripped off when attempting to sell your home without a realtor.

When Should I Not Bother Trying to Sell Myself?

A young couple looking for a starter home, or a family met with success looking to upgrade their home will be wary about FSBO houses. If you own an older home that has been upkept well or a newer home in a newer neighborhood you might want to think twice before trying to sell your house yourself – especially if time is of the essence. As future home owners will be much more risk averse, hoping to get a deal but also understanding the necessity of a real estate agent.

Normal home buyers looking for real estate they can live in will expect a large discount when buying a house for sale by owner – while some might not even consider it. In the eyes of someone who does not have a background in real estate or much of a risk tolerance buying real estate without the reassurance and professional advice of a realtor is extremely risky. If they do come across a for sale by owner house they may often expect the house to sell for the price it would on market minus any realtor fees if they do decide to go that route. On top of that, they will often not be qualified buyers.



What Is A Qualified Buyer?

A Qualified Buyer is essentially a buyer who has written notice from the bank confirming their ability to get a mortgage of a certain amount at a certain rate. Getting qualified buyers will be the hardest part of selling your house FSBO. You will get a lot of people hunting for deals but when it comes to actually being able to pull the trigger – they may be more likely to walk away than a qualified buyer represented by the buyer’s realtor.

What For Sale By Owner Tactics Should I Use?

For Sale By Owner is a strategy that works great under the right circumstances. To do it right you will need a online and offline strategy. Get in touch today, and we’ll help you to sort out the best For Sale By Owner Strategy for your property!