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.

The New YMCA in West Champaign

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Pumping in pool finish laterial last week at the new YMCA.
The last touches are going in on the amazing new YMCA building in west Champaign. This place will be a huge addition to the Champaign Urbana community. It will compliment the local fitness centers as well as the ARC and other University of Illinois gyms.

The sign is up but there is still a few weeks work left on this new facility.

Crews are hard at work and Mark Johnson (Champaign County YMCA CEO) says the doors will open March 1st.

When these doors open the whole Champaign Urbana area will benefit.

Trends for the local Real Estate market

Champaign Urbana real estate is not in bad shape compared to the state and national averages according to some statistics released by the   “Housing Trends eNewsletter” .

The report says:

  • Prices are up from a year ago, but price growth is slowing
  • This area has held onto positive equity growth despite the national market decline
  • Most buyers in this market have access to government-backed financing

So the long and short of it for Champaign Urbana real estate is that sellers are in decent shape and buyers are in great shape- this is an excellent time to purchase one of the many homes for sale in Champaign Urbana.

We can show you this home for sale on Fairway Drive in Champaign or any other home on the market in the area.