FSBO: “For Sale By Owner!” — it can seem like a good idea when you first mull over the prospects for selling your house. A FSBO listing promises to allow a homeowner to sell without even consulting local real estate agents and depending on a home’s final sale price, the commission presumably saved looks to be substantial, wouldn’t you think?
While certainly the idea of doing it yourself does sound attractive, understand that statistics prove it’s not only more efficient to work with a real estate agent — it also frequently nets sellers more at the bottom line. And, there are logical reasons why it works out that way. They are the same reasons why – according to only one in ten homes are successfully sold as FSBOs.
First off, while it may seem easy to arbitrarily pick a price and just “see what happens”, without a timely professional assessment of your local market, it’s pretty unlikely to be ‘right priced’. Serious buyers are smart and do lots of online homework now and will certainly make current market comparisons to see whether a FSBO is a fair bargain being offered by a serious seller. If the answer is wrong, buyers move on.
I guarantee you, realtors’ are more than a convenience; we are risk managers who relieve you from the paperwork tangle can be decisive in preventing technical logjams. There are other technical issues, too: experienced buyers know that a FSBO-seller also has a lower likelihood of being familiar with protective disclosures or even area ordinances that can affect a sale.Busy real estate offices use today’s electronic signature platforms, scanners, printers and faxes to rapidly churn out legally binding documents that keep you moving forward toward closing day while vigilantly keeping you on legal target.
Then there’s the negotiation process. More than just working out a price, your agent can deal with all the details a prospective buyer sometimes throws into the mix. By sparing you the emotional cost every time you are asked to handle repairs or any number of other details, the odds rise that a transaction will stay on track and on time.