I write about this periodically. Every home that is for sale is being sold by the owner but some home owners choose to sell without the help of a Realtor. I don’t have a problem with that at all but I have buyers who ask about these properties. When I do a little research I sometimes find out that the for sale by owner home was sold six months ago, or the owner was just kind of testing the water or the owner will sell if someone will pay an outrageous amount of money for the place.
Some are advertised with a sign and a phone number that is never answered. Calls go to a voice mail that is full or one that is apparently never checked. There is no way to know how much the seller is asking either.
I looked up the property that my clients were interested in that is being sold by the owner and it has a value of around $375,000 but the owner as it listed for 900K and has had it listed for a long time. The property was being advertised on some obscure for sale by owner web sites that most people wouldn’t know to look at. I doubt the seller is serious about selling but would sell if someone wants to pay 900K.
One for sale by owner let me show his condo and then told me that he really wasn’t that interested in selling but that he was kind of trying it out to see if people would be interested in buying. I can almost relate to that as I live on and own a home that is very unique. I see hundreds of homes each year but have never seen one like my own. I often wonder how a home buyer would react to it.
Sometimes when I show homes that are for sale by owner I end up listing the home. I think sometimes putting a for sale sign up is a strategy for meeting and interviewing Realtors.
Occasionally I find a home that is being listed by the owner that is a perfect match for my clients. I call the owner and they let me show the property and if my clients like it we make an offer and if all goes well the owner says yes and I get paid too.
Most homes that are listed by real estate agents are really for sale although I have to say I have run into some sellers who don’t seem like they really want to sell. I can tell when the home is on the market for much longer than any other in the area and has been at the same price for months or years and they have switched agents a few times.
I encourage my clients to let me know if they are interested in a home that is being sold by the owner. I’ll work with anyone and I am not afraid to knock on a door or two if a buyer likes a home that isn’t on the market.