Going It Alone: For Sale By Owners In Knoxville TN

 It is true, I can give you many reasons why you should enroll me as you real estate agent as opposed to going it alone, for sale by owner or what is affectionately called FSBO or fizzbo.  Just be forewarned that although I do want to be your seller's agent, what I am about to share with you are is factual information and examples as to why the real estate transaction is as structured as it is and just why you need your own representation in the Knoxville, TN market as opposed to being a FSBO.

FSBO's naturally want to "save" money, their hard earned equity on their home and I understand that.  However, would you hire an engineer to do heart surgery on your mother because he would do it cheaper?  Of course, not. The engineer was trained to be an engineer, not a heart surgeon and you would willingly pay for the heart surgeon's education, training and experience and would want the best for mom, right? Then why would you hire anyone, even yourself, to sell your largest financial investment if you are not trained to do so?  Hire someone that was trained to do it and you do your job.

Why would you chance a potential lawsuit in trying to sell your own home since you are not trained to sell it?  You are not educated in the laws that make the real estate laws, "laws".  There are laws for a reason, protective clauses for a reason, forms, contracts, disclosures etc., etc., etc., that a for sale by owner does not know.

It isn't just the legal ramifications that you can encounter which is a topic that deserves its own posting, but also the marketing of your home, getting the word out there is very hard without the assistance of a real estate agent.  FSBO's do not have access to the thousands of agents working with buyers and many agents avoid working with FSBO's because of the potential legal ramifications, as well as, compensation.

The legal consequences of being a for sale by owner involve many issues or potential problems that would create liability on the seller's part.  In fact the majority of lawsuits are filed by buyers against their sellers (Realty Times).  FSBO's that want to go it alone may want to consult with a real estate attorney prior to this decision to discuss potential lawsuits that could result from not being professionally represented in the real estate market.

One such case that luckily I was not a part of, but heard of through a family member was that the "contract" between the parties was written up by the two parties, the seller and the buyers.  The sellers inadvertently listed the septic tank was the correct size for the size of the house, it was "true" to their knowledge.  Only the laws have changed, they did not have the septic tank investigated and receive the proper documentation and nearly a year later, the buyer sued and the seller had to install a new septic tank (thousands of dollars), repair their yard and damage done to the foundation and the buyer's attorney's fees.  Had they had professional representation from an experience real estate agent, this FSBO would not have had these problems because the agent would have obtained the proper disclosures and forms necessary to take this sale to closing. The cost of this lawsuit far exceeded what they would have paid an agent to handle for them.  Unfortunately, many FSBO's do not even get their transaction to closing and there are a host of reasons as to why which is too lengthy of a discussion for here.

Having a lawsuit filed on you can really ruin your year(s) and the best way to prevent a lawsuit is to be proactive and not allow it to happen in the first place.  Choose an agent that is a top flight agent, an agent that has great follow through and follow up skills, has the right education and training to get the job done right so that when you leave the closing table, you leave the closing table, once and for all.

In the end, it is much less expensive and less time consuming and less stressors and anxieties simply by hiring someone that has been trained to do this job, a professional real estate agent.  In the end, it may be cheaper to have this representation than defending yourself in court with attorneys fees and you may end up paying for your buyers attorneys as well if you pursue the fizzbo (FSBO) route of selling your home.

To every side there is an advantage, but the disadvantages often out weight the advantages.  Do not trust your largest financial investment to anyone less than a professional.