By Owner Real Estate is growing so don’t choose to buy on a busy street, even if it may be the only house for sale listed on MLS at the moment you’re looking for a new home, and this is only one reason why for sale by owner real estate is growing. We all know where and what we’re looking for but, often, we have to compromise in order to buy now within our budget.
Risk of buy now, sell later
Buying in the moment runs the risk of purchasing on a street or a home with higher than average turnover. Whether it’s for sale by owner or with an agency, there seem to be those streets that are flooded with houses for sale signs and those homes with evolving homeownership. Although a buy a home now, sell later strategy may seem like a good one, you may discover it takes a lot longer to sell than originally thought. Homeowners look to reducing the price to attract buyers, and at a lower cost of selling option such as for sale by owner, or owner to owner homes swapping, to help offset their lower list price, but the reality is a busy street can be a deterrent.
Knocking on doors to connect with homeowners is intrusive.
To avoid buying from the houses listed for sale on MLS, homebuyers have resorted to knocking on doors or leaving notes in homeowner’s mailboxes, asking owners to contact them if they’re interested in selling now or in the future. I came across the same problem myself, but people aren’t generally receptive to strangers at the door and are sceptical that notes left in mailboxes are from agents fishing for listings.
People like to know buyers are out there, but in general are somewhat suspicious of strangers, as Kelly Bennett from CBC news notes in, “Knock knock! It’s a Hamilton Realtor hoping you’ll sell”
As Founder of RuListing.com, I decided to help home buyers with a completely free service, to Post where and what you’re looking for, so homeowners can message send private messages. In the past year, we have seen that the interest in by owner real estate is growing. RuListing is a free FSBO site for buyers want ads service helping buyers connect with homeowners interested in selling for sale by owner or privately, off-market.
What this means is, you have options and don’t necessarily have to buy off MLS and on a busy street. You can plan ahead, look beyond the supply of houses for sale on MLS, post your interest and let homeowners contact you.
Interested in learning more about how to buy or sell a home in 2018, read our most popular blog, ‘How to Sell my Home Privately in 2018?‘.
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