Westport, CT (PRWEB) February 15, 2008
The Wall Street Journal recently wrote that residential home sales were down almost 25% compared to a year ago, to one of the lowest points in the last eight years. CBS news reported that residential real estate inventories reached the highest level for that same period. Realtors have commented that it is the worst market in 17 years.
Historically when slumps like this have occurred, other trends have developed to take up the slack and this time is no different. There is a significant increase in the "For Sale by Owner" real estate sector called 'FSBO' (pronounced fiz-boh). According to the industry newsletter Real Trends, domestic FSBO sales have almost doubled over the last two years. They now represent about 20% of sellers, up from 12% in 2005.
The reason for FSBO's soaring popularity is simple: as home sales and prices decline owners seek to protect their equity which in many cases is their largest single asset. One way to do that is to avoid paying Realtor commissions, which can be as much as 6% of the sale price. On a home priced at $250,000 this is $15,000.
However, despite the increasing popularity of FSBO's, about two-thirds of homeowners who try to sell their own home eventually give up and switch to a real estate agent. Why such a high failure rate? There are many reasons like not pricing the home right, failure to properly prepare the home for sale, lack of marketing and selling skills, inability of buyers to obtain a mortgage, underestimating the amount of time required, inability to pre-screen buyers . . . plus many more.
Private Sale Partners has developed a totally unique "For Sale By Owner" home selling system designed to address these issues. A Home Selling Training Course is provided that educates homeowners on all aspects of the home selling process. Included is: how to set a timeline for the process, how to properly stage and price the home for optimum and timely results, proven marketing tools, tips on selling and closing skills, how to help your buyer obtain and qualify for a mortgage using Private Sale Mortgage and information about legal issues surrounding the sale.
Because 80% of home buyers search online for homes, Private Sale Partners has also developed a next generation website http://www.PrivateSalePartners.com where our FSBO members can register for one of the listing plans and post their home with a description and photos. Unique to this system, members can create a personal home visit scheduler showing the dates and times the home is available for appointments. Buyers after a pre-screening process can schedule an appointment online without needing to speak to the Seller or can call a toll-free 800# found on our "Private Sale" lawn sign to be connected to our call center with trained customer sales agents, Buyers can get property details 24/7.
According to Jerry O'Rourk, CEO, "A major advantage of live sales agents that most sellers have jobs and the prospective buyers tend to get voicemail. With live agents the property description is communicated effectively each time. As mentioned before buyers are pre-screened to weed out unqualified callers such as Realtors merely looking to obtain a listing. We have committed a significant investment to build our integrated online and call center system that connects sellers with buyers efficiently and delivers optimum results for everyone. In fact, we have filed for a systems and methods patent to protect our business model."
Private Sale Partners, a 'FSBO' company, was founded in 2007, and operates in all 50 states. The patent pending home selling system includes features not offered by any other 'For Sale By Owner' method such as a home selling training course; 100% money-back guarantee; 24/7 call center customer sales agent support for both sellers and buyers via 800#; interactive property listings with automated home visit scheduler accessible online or through call center; buyer pre-screening and blocking of real estate agent calls; ultra high quality lawn sign.
For more information please visit http://www.privatesalepartners.com or contact Karen Hughes at
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