5 Reasons to NOT do “For Sale By Owner”
When looking over all of the costs of selling your home, it may seem like doing a “For Sale By Owner” (FSBO) could save you thousands. Here are a few reasons why that is not always the case:
1.Your agent does this full-time
When the phone rings and a buyer wants to see your home are you going to be able to jump out of a meeting and rush home to show it? Probably not, because this might not be your full-time job. Having an agent allows for a middle man to handle the showings and marketing of your home.
2. Negotiations take practice
If you are selling your home FSBO, there is a high chance that the buyer’s agent has a great deal of negotiating experience. And, if you have not had a career in sales, you’re probably lacking. Agents are experts on the market and will know exactly how to negotiate an offer in any given situation.
3. Legal risks
Home sales are not run like a quick sale. They involve a great deal of legal paperwork. Without an experienced agent guiding you through every step of the process, there are likely going to be slip-ups. In order to save yourself from any future legal trouble, trust the experts.
4. Avoid emotional sales
When an agent looks at an offer it is strictly through a professional lens. If you are selling your home FSBO you may be swung by the lowball offer with a love letter, rather than the buyer who can offer you more.
5. Network access & marketing
Lastly, one of the main reasons to hire an agent is due to the resources they have access to including connections, networking, and marketing. Agents have built relationships with clients who may have had positive experiences and are willing to share their names. They also have connections with other agents around your area and marketing resources.
Before you commit to selling your home FSBO, take a moment to consider these reasons to instead hire a professional.