Reasons Why You Should Not Do a For Sale By Owner

Some homeowners choose to sell their homes thinking they could save time and expenditures. The term For Sale by Owners is used in reference to properties put by the market by owners.

However, there are several reasons why deciding to do an FSBO might not be a good idea for many sellers:

1. Too Many People To Deal With

Sellers who want to sell their own homes have to prepare to meet and negotiate with different kinds of buyers, buyer’s agents, home inspections and appraisers as dictated by prospective buyers.

Scams may happen and FSBOs may even find hiring a representative which is an added expense.

2. It is Too Complicated and Difficult

The 2015 National Association of Realtors’ Profile of Home Buyers and Sellers  revealed that the paperwork  involved is just too much and can be daunting for owners wanting to sell their homes. Aside from the legal forms that has to be filled in, understanding them as well as customizing the contract to a one-size-fit-all can be difficult and time consuming.

3. Online Search Results More Common

Many FSBOs may not get the right selling price and get stuck in the market. Another reason for this is that more buyers find their homes in the internet:

44%  on the internet
33%  from a Real Estate Agent
9%    from a yard sign
1%    from newspaper

4. Dealing with Prospective Buyers

Most real estate agents have online marketing campaigns for their listings. FSBOs may simply rely  on their circle of friends and family and also social media. But these have setbacks and limitations as well.
With technology on their side, it won’t take long before a real estate agent sells a home in their listing. A homeowner may take longer to sell.

5. Earn More Net with an Agent

Homeowners decide to sell their homes with the purpose of saving money. Little do they know that they spend a considerable chunk of money for extras like flyers, home warranty, home inspection, contracts and so on.

Studies also have shown  that an FSBO in markets have lower price points.

So, before making any decisions whether to sell your home on your own or to work with an agent, contact a real estate professional, listen and see what they have to offer.

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