Jul 13 2017 32626 1

Jul 13 2017 32626 1

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5 Reasons why you shouldn’t sell your house by yourself (For Sale by Owner) but with a Real Estate Agent.

Some homeowners consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). We think there are several reasons this might not be a good idea for the vast majority of sellers.

Here are five reasons:

1. There Are Too Many People to Negotiate With

Here is a list of some of the people with whom you must be prepared to negotiate if you decide to FSBO.

  • The buyer who wants the best deal possible

  • The buyer’s agent who solely represents the best interest of the buyer

  • The buyer’s attorney

  • The home inspection companies which work for the buyer and will almost always find some problems with the house

  • The appraiser if there is a question of value

  • Your bank in the case of a short sale

2. Exposure to Prospective Purchasers

Recent studies have shown that 92% of buyers search online for a home. That is in comparison to only 28% looking at print newspaper ads. Most real estate agents have an internet strategy to promote the sale of your home. Do you?

3. Results Come from the Internet

Where do buyers find the home they actually purchased?

  • 43% on the internet (over 400 websites with your broker!!!)

  • 9% from a yard sign

  • 1% from newspapers

The days of selling your house by just putting up a sign and putting it in the paper are long gone. Having a strong marketing strategy is crucial.

4. FSBOing has Become More and More Difficult

The paperwork involved in selling and buying a home has increased dramatically as industry disclosures and regulations have become mandatory. This is one of the reasons that the percentage of people FSBOing has dropped from 19% to 9% over the last 20+ years.

5. You Net More Money when Using an Agent

Many homeowners believe that they will save the real estate commission by selling on their own. Realize that the main reason buyers look at FSBOs is because they also believe they can save the real commission. The seller and buyer can’t both save the commission.

Studies have shown that people are more likely to FSBO in markets with lower price points. and that selling on your own takes longer and you may get Unqualified buyer

Bottom Line

Before you decide to take on the challenges of selling your house on your own, sit with a real estate professional in your marketplace and see what they have to offer.


Yael Shanee Headshot
Author:
Phone: 917-705-3717
Dated: July 13th 2017
Views: 164
About Yael: Real Estate Agent CBR (21 years experience) Specialties: Buyer's & Seller's Agent, Income and Mixed...

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