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Sellers 5 Reasons You Shouldnt Go FSBO
Dated: November 26 2015
Views: 716
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In today’s market, with homes selling quickly and prices rising some homeowners might consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons this might not be a good idea for the vast majority of sellers. Here are five reasons:
1. THERE ARE TOO MANY PEOPLE TO NEGOTIATE WITH
Here is a list of some of the people with whom you must be prepared to negotiate if you decide to For Sale By Owner:
The buyer who wants the best deal possible and will often deduct the commission from their offer.
The buyer’s agent who solely represents the best interest of the buyer.
The buyer’s attorney.
The home inspection companies, which work for the buyer and will almost always find some problems with the house.
The appraiser if there is a question of value.
Don't forget call from the buyer mortgage broker and title company.
2. EXPOSURE TO PROSPECTIVE PURCHASERS
Recent studies have shown that 88% of buyers search online for a home. That is in comparison to only 21% looking at print newspaper ads. As a local real estate marketing expert, I have an internet strategy to promote the sale of your home to buyers from all over the world. Do you?
3. RESULTS COME FROM THE INTERNET
Where do buyers find the home they actually purchased?
63% on the internet
9% from a yard sign
1% from newspaper
The days of selling your house by just putting up a sign and putting it in the paper are long gone. Having a strong internet strategy is crucial.
4. FSBOING HAS BECOME MORE AND MORE DIFFICULT
The paperwork involved in selling and buying a home in Florida has increased dramatically as industry disclosures and regulations have become mandatory. This is one of the reasons that the percentage of people FSBOing has dropped from 19% to 9% over the last 20+ years.
5. YOU NET MORE MONEY WHEN USING AN AGENT
Many homeowner1s 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. Studies have shown that the typical house sold by the homeowner sells for $208,000 while the typical house sold by an agent sells for $235,000. This doesn’t mean that an agent can get $27,000 more for your home as studies have shown that people are more likely to FSBO in markets with lower price points. However, it does show that selling on your own might not make sense.
Bottom Line
Before you decide to take on the challenges of selling your house on your own, giver me a call 772-370-8631. I will come see your, listen carefully to your needs and formulate a plan to get you where you want to be. You will be impressed with both our service and results.
Make it a great day!
About the agent: Richard L McKinney - Realtor,
Local Real Estate Expert & Nice Guy !
I'd love to hear from you! What do you think about this blog?
& The Results Team
Atlantic Shores Realty Expertise
C) 772.370.8631
RichardMcKinney.re@gmail.com
Selling the Treasure Coast - Port St Lucie, Fort Pierce, Stuart, Jensen Beach, Palm City and Hutchinson Island --- Homes, Condos, Townhomes & Land.
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Richard McKinney
I have been selling real estate in South Florida since 1998 with a specialization in homes, town homes and condos in St Lucie and Martin Counties. My service areas include the cities of Port Saint Luc....
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