For Sale By Owner in Mount Laurel, New Jersey

There are many reasons why a Mount Laurel homeowner decides to sell his/her home on their own, but mainly, it is because they want to save the commission or cannot afford to use a realtor.

Do For Sale By Owners Make More Money?

“In 2010, 9% of the total sales were those of For Sale By Owner.  The average For Sale By Owner Home Sold for $140,000 whereas the average agent assisted home sold for $199,300” explains NAR, the National Association of Realtors.  While many homeowners think they can save the 6% commission, they often find that they end up selling the home for less since they do not have the same resources a realtor may have.  Buyers and investors try to get a “good deal” from these homes, but soon realize that if they were not willing to spend the 6% on a realtor, they must not have that much wiggle room in the price.  And, more often than not, buyers and investors automatically take off the 6% commission BEFORE figuring out what they are willing to pay.

Advertising a For Sale By Owner Property

In the same report, it showed that 46% of For Sale By Owners advertised by using a yard sign.  While this is a great way to bring in local buyers, how do you advertise to the family relocating to Mount Laurel?  Many companies that are relocating employees use relocation companies to help them in moving families.  If someone is moving out of state, they are paired up with a realtor, a realtor who will take their client to see the properties advertised the the MLS.  Of course, realtors are also able to advertise on multiple websites, network with other agents in the office, and have a higher likelihood of selling a home through marketing efforts. We all know the more buyers that see a home, the higher the chance at a higher sale price in the end!

How to Buyers Deal with a For Sale By Owner?

Buyers will most likely be working with a realtor.  Realistically, it costs them nothing, and they have all the advice, resourses and market information provided to them, so it makes sense.  When a buyer contacts a for sale by owner listing, they worry about a few issues.  Is this owner hiding something about the property?  How do I know that the contracts will be fair? How will I know what has already ACTUALLY sold in the neighborhood?  How can I trust the information they are giving me on the value and condition? In fact, this year, the owner of, ended up needing a realtor to sell his home!

Using a Realtor

In todays market, most homes will sell with a licensed realtor.  Whether it be Mount Laurel specifically or the general South Jersey market, most families decide to work with realtors for the expertise, ability to find the best buyer and the ability to educate the client.  What many people do not realize about today’s realtor is that they handle a ton of stuff.  The contracts, the marketing, settlement, showings, getting clients pre-approved, home inspections and follow up.  Working with a licensed realtor in South Jersey is not only suggested, it becomes imperative.


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