7 Financial Results Las Vegas FSBO Sellers May Face

7 Financial Results Las Vegas FSBO Sellers May Face

    Image title Once you have decided to sell your Las Vegas home, one of your first action items is to recruit a top sales team. About 90% of sellers choose a licensed Realtor® to head up their effort—not just because it’s the popular thing to do, but because the alternatives are few. You could recruit a business person from some other discipline, but few do that. Most in the minority group decide to do it all themselves—to go the FSBO route: “For Sale By Owner.”

    The reason for settling on this choice is usually a dollars and cents one: to eliminate the real estate commissions. Any home sale in Las Vegas is a weighty transaction—so pocketing that percentage looks like a businesslike decision. It usually does have financial ramifications, but not necessarily the kind that the Town FSBO seller was hoping for:


  1.     Statistics tell us that fewer than 3% of home buyers hear about their ultimate purchase directly from the seller. Missing out on 97% of prospective buyers greatly diminishes the chance that more than one party will compete to buy the property.

  2.     The longer a property lingers on the market, the lower its ultimate selling price is likely to be. Interviews confirm that only 1 in 8 FSBO sellers succeed in selling within their planned length of time…

  3.     …and even fewer “get what they consider the right price.”

  4.     Advertising expenses have to be paid by the seller. There is $5.95 for a front yard FSBO sign, plus $2.35 for the wooden stake that holds the sign-up. If no additional advertising expenses are incurred, it means there is no advertising—with likely outcomes described in 1, 2, and 3.

  5.     If the Las Vegas FSBO seller has regular job responsibilities, the time devoted to handling prospects and addressing the business and legal ramifications that accompany a residential real estate transaction can become costly distractions. High among the tasks past FSBO sellers rated most difficult was “understanding and performing the paperwork.”

  6.     The average price of a FSBO sale is 75% of one carried out by a professional.

  7.     Even if a sale is accomplished, the premium gained may be less than anticipated. Since the buyer is likely to be represented by a buyer’s agent, the hoped-for savings are cut in half.

    A financial result—the usual reason for most Las Vegas FSBOs—often comes to pass, but it’s the opposite of the one intended. You might say that the FSBO strategy should really only be attempted by those for whom money is no object. In effect, FSBOs are the champagne of real estate strategies…

    I’m only half kidding about that last—but not kidding at all when I suggest that you give me a call when it’s time to sell your own Las Vegas property!


John Gafford Headshot
Author:
Phone: 702-785-4699
Dated: September 1st 2016
Views: 122
About John: John Gafford, as seen on NBC’s The Apprentice, is a listing specialist. As the Broker Owner of the...

Property Search








RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

New Modern Style Home - Great Floor Plan inside Paseo
Tuscany - Beautiful 5bed/5bath/3 car garage/
Roof Top Solar Panels Savings Or Fraud - Thinking about purchasing a roof
Luxury Listing Price Reduction - 3465 PAMA LANEBEAUTIFUL!!! 6

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

The Gafford Group at Simply Vegas
1780 Horizon Ridge Parkway #100
Henderson, NV
702-761-3786


Other Locations