Should You Sell your Home FSBO?
The success rate in selling your home FSBO is statically quite low. There are those sellers who have success and have done their homework in selling properties. Other sellers who are successful simply transfer ownership to relatives or tenants. Homeowners who want to sell their homes are most successful using a real estate agent. In fact, the National Association of Realtors reports that the majority of FSBO’s wind up listing their home with an agent.
Are you under consideration of selling your home yourself? Take a look at these reasons why not to go FSBO.
FSBOS cannot use MLS
The multiple listing services are open only to real estate professionals with a license. Realtor.com and most search engines for homes are not available to FSBOs. Exposure to online resources is limited to those who choose to sell their home themselves. Marketing is imperative to selling a home. Using a for sale sign and a tiny newspaper ad may not bring the largest pool of potential buyers to your doorstep.
Agents typically do not show FSBO’s
A real estate agent works to receive a commission on the sale of a home from the buyer. There is a process for agents to conveniently use realtor tools for appointments and home entry. Even when a FSBO offers a commission to a buying agent, most agents are reluctant to show FSBO homes. This means that your home’s marketing appeal can be limited to unrepresented buyers who may not qualify.
FSBOs are overpriced typically
The number one mistake of any seller is to overprice their home. FSBO’s typically do not have access to comparable home data that shows a home’s value according to the market condition. Without an outside opinion, most homeowners do feel their home is worth more others in the same neighborhood. This is just human nature.
Without legal advice and the proper disclosure forms, FSBO’s can find themselves with liability issues. There are disclosure forms that are required in almost every state. If a FSBO misses one form, there could be a lawsuit even after the closing.
Potential Buyers can be wary to make offers
It is a fact that a buyer will spend less time looking at a home when the owner is present. Discussion of potential issues with the owner can be downright intimidating. Thus, offers would be less likely when negotiated directly with the owner.
FSBO’s Home Condition
The condition of a home is also a major selling factor. It is important that a seller get an outside opinion of what to do to prepare to sell their home. Realtors are experienced in knowing those small steps that make the difference in selling your home. FSBO’s typically are not in market selling condition.
Consider the advantages and disadvantages of selling your home FSBO. Time is money. If your objective is to sell your home for the best price and short time, a real estate professional may be your best choice.