5 Reasons to not sell “For Sale by Owner” & use a Realtor
In today’s market, with homes selling quickly and prices rising, some homeowners may consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). Here are five reasons this might not be a good idea for most sellers:
1. There Are Too Many People to Negotiate With
- The buyer who wants the best possible deal
- The buyer’s agent who solely represents the best interest of the buyer
- The buyer’s attorney (in some parts of the country)
- Home inspection companies, which work for the buyer and most always find some problems with the house
- The appraiser if there is a question of value
2. Exposure to Prospective Purchasers
Recent studies have shown that 89% of buyers search online for a home. That is in comparison to only 20% looking at print newspaper ads. Most real estate agents have an internet strategy to promote the sale of your home.
3. Results come from the Internet
Where do buyers find the home they actually purchased?
- 44% on the internet
- 33% from a Real Estate Agent
- 9% from a yard sign
- 1% from newspaper
As you can see, having a strong internet 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.
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 estate agent’s commission. The seller and buyer can’t both save the commission.
Bottom Line: Before you decide to take on the challenges of selling your home on your own, sit with a real estate professional in your marketplace and see what they have to offer.
Click here to read the full article on KeepingCurrentMatters.com
Please let us know how we can assist you with financing.
Jennifer Henehan Sheil
Sr. Loan Officer
Queen City Mortgage Co., LLC
513-602-5498 (Cell)
513-297-5863 (Fax)
