“FSBO”…is it right for you?
While “For Sale By Owner” continues to be a seemingly enticing proposition, one really needs to do one’s groundwork before selling a home. Most believe it will save them money, but using an experienced real estate agent with a wealth of expertise translates into a faster sale with fewer hassles and inevitably, a better price. Consider this:
- When you are selling your home you have to market it properly, it may not sell quickly and thus the price you receive for your home will be less. The longer a home is on the market the lower the selling price is. The longer it sits, the more apt the impression will be that there must be something wrong with the home and hence it isn’t worth as much.
- Most buyers prefer to deal with real estate agents, as opposed to the actual homeowners. Many find the process of negotiating with a homeowner cumbersome and trying.
- Negotiating the sale of a property is a skill that requires experience and expertise, neither of which an average homeowner has. The result can be a lower selling price or a sale that’s defaulted somehow. You will be negotiating against a real estate agent who will, typically, have much more experience in the process.
- Most buyers work with a real estate agent to find a home and most of those agents prefer to deal with other agents when negotiating a purchase. They do not want to deal with the homeowner.
- Some buyers will simply ignore homes that are for sale by the homeowner.
- If you offer a selling commission to entice agents to bring in potential buyers, you can expect the savings in broker’s fees will be reduced.
- The lawyer’s fee will be higher, if you use one to help you negotiate.
