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54 Comments on For Sale By Owner Advice--When Do I Know it Is Time to Hire A Professional?
Great info Doug! Another important point for FSBOs who try to go it alone when selling their homes is that they're more likely to leave money on the table IF the transaction makes it to closing at all. Always best to use the services and guideance of a professional REALTOR. Re-blogging!
Terrific post and some great conversation pieces to have with FSBO's.
When is it time to hire a pro? Well, FSBOs unfortunately tend to wait until they've tried for a year or more. The year on the market has made their listing shopworn and overpricing has driven away a good segment of potential prospects.
Excellent points made, Doug.
I respect homeowner's who try the FSBO route because I know that I would never want to do it, and I LOVE selling real estate (just not my own). Then again, I don't like selling off of Craigslist either. You just never know who's going to show up at your doorstep.
Good sound advice. I actually position myself to pick up all the pieces for frustrated and disillusioned FSBO's who finally woke up and whiffed the rotten roses.
Doug, this is such a well written and informative article article! I really like it. I would also add to to the FSBO that "You don't know what you don't know" and that could be expensive! We just had a lady on the news here who bought a FSBO without an agent and closed on the home. Went to the City to get some Winterization things done they were offering and when the inspector came over he informed her that her house was really an old garage that had been retrofitted so now it didn't even meet code as a single family home. She is now on pins and needles waiting for the City to evict her. She didn't know what she didn't know.....
Very impressive post Doug - the Mcdonalds analogy is priceless. I'm going to reblog, recently I've seen more FSBO's in the Northern VA area than in the past. Thank you for sharing.
Hi Doug, you make great points and some I have not heard before as a way to overcome those obstacles. Well done!
Hi Doug, Great informative post. Your 5th item is so critical to marketing a home. Emotional involvement is great in most things- not so much in our business.
Great post. I don't think most people think about the security issue, but that is a bigger problem for FISBOs than they realize.
Doug- well said! I hope people are willing to listen to your sound advice. Best of luck.
Doug:
Everything you say in your post is true. I especially like your points about security and insurance. I don't think many FSBOs think about either of those points, but they should.
Love the potato analogy.
Great advice Doug, probably many more reasons in addition to these to hire an agent, I am sure we will see these inthe comments.
Thanks
The FSBO can be successful if they have experience in selling real estate and a few do and great for them as you already stated. However, anybody who attempts marketing and selling their property without experience is losing money because time is money isn't it?
The FSBO fails to account for their lost time in the process of selling their property, consequently, they think they are saving money when in fact they are losing money because they don't account for all the time spent in the process.
During the time they spent, other qualified buyers were buying comparable homes of the FSBO from their RE agent, so they missed the opportunities of getting their homes sold. That's a fact, isn't it, so when FSBO's fail they finally hire a Realtor to sell their property, don't they?
Hi Doug, great list and congratulations on blogging for the real business reather than just AR members.
Good advise. People loose a lot of money trying to safe some. Penny wise and pound foolish.
These are excellent points to use with FSBOs. A lot of people think we just put a sign in the yard, but there is so much more that happens behind the scenes and knowledge that the public doesn't have.
It is a really difficult thing to sell your own home. Then try to compete with professionals.