For Sale By Owner
Thinking of selling your own home? Read this first. Ask yourself the following questions:
- Do you have the time and the energy to do it yourself?
- Do you know where to find information and needed paperwork to complete a sales contract?
- Do you have enough contacts and the right contacts to get the job done?
- Will your results come out as good or better than if you had hired a professional Realtor®?
- Will the home-selling process go smoother if you hire a professional?
- Would you have sold your home for more if you had hired a professional?
- Do you have access to thousands of buyers?
Experts say nearly 15% of homeowners first try to save an agent's commission by trying to sell their homes For Sale By Owner (FSBO). Many of these sellers invest their time and money in the FSBO process, only to turn to a professional Realtor® for help in selling their home. Many times, this happens after months of frustration and lack of success in doing it themselves.
According to studies cited by real estate specialists, Realtor® - assisted sales usually put more money in the pocket of a seller than a FSBO transaction does. How much more? On average a seller will net 2-3% more per transaction after paying a real estate commission.
One of the biggest reasons for this difference is the way homebuyers view a FSBO transaction. Many buyers view FSBOs as a way to "get a deal." Some buyers automatically deduct a sales commission off the asking price of the home as a way to determine where to start sales negotiations. The old saying, "Both sides cannot save the same fee," comes forth in this situation.
There are other major emotional and financial reasons to consider before deciding to sell FSBO. As a FSBO seller, you must first try to decide on an asking price for your home. You cannot rely upon what your neighbors say they sold their home for. More than likely "a price they liked" may not be market value, or the price they were asking for. A Realtor® can offer you competitive pricing and marketing strategies that will give you market value for your home.
