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Milestone Germantown MD | Top 5 Reasons You Shouldn’t FSBO

By Fernando Herboso - Associate Broker MD, & VA

Managing Real Estate Broker with Maxus Realty Group of Samson Properties Broker - Realtor - CEO

June 19, 2018 09:22 AM

Milestone Germantown MD | Top 5 Reasons You Shouldn't FSBO

At a local level in Germantown Maryland, buyer confidence remains strong with some changes that varies on the price level and whit type of houses they are looking for.

Particularly in and around Milestone 20876 zip code. The addition of new store and business entities in the area makes Milestone one of the most busiest areas in Germantown.

As you are aware, for most families, choosing a new home is the biggest financial decision they will ever make and for that reason, there are many complicated decisions involved in choosing your new home.

Today I would like to talk to you about Top 5 Reasons You Shouldn't FSBO

In today's market, with home prices rising and a lack of inventory, some homeowners may consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons why this might not be a good idea for the vast majority of sellers.

Here are the top five reasons:

1. Exposure to Prospective Buyers

According to the 2017 Profile of Home Buyers and Sellers from NAR, last year 95% of buyers search online for a home. That is in comparison to only 15% looking at print newspaper ads. Most real estate agents have an internet strategy to promote the sale of your home. Do you?

2. Results Come from the Internet

Where did buyers find the home they actually purchased?

49% on the internet

31% from a Real Estate Agent

7% from a yard sign

1% from newspapers

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.

3. 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

The buyer's agent who solely represents the best interest of the buyer

The buyer's attorney (in some parts of the country)

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

4. FSBOing Has Become More And More Difficult

The paperwork involved in selling and buying a home 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 8% over the last 20+ years.

READ MORE: https://www.reallynicehomes.com/blog/milestone-germantown-md-top-5-reasons-you-shouldnt-fsbo/

???Thinking of selling your home? Let Fernando take over the marketing of your property with our unique 99 STEPS system
www.99SOLD.com - Call or text 240-426-5754 for more information.

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Dave Halpern

Dave Halpern Real Estate Agent, Inc., Louisville, KY (502) 664-7827 - Louisville, KY

Louisville Short Sale Expert

Excellent summary of reasons to have a professional Realtor handle the sale of your home.

Jun 19, 2018 09:27 AM

Mel Ahrens, MBA, Kelly Right Real Estate

Kelly Right Real Estate - Hood River, OR

Customized Choices for your Real Estate Needs

Keeping Current Matters continues to provide a limited, one-sided view when they prepare content about FSBO sellers. This is at least the 3^rd time this info has been published in the last year or so.

Regarding #1 and #2, yes, a robust internet strategy is needed. There are many vendors who can do so; a real estate broker may or may not have a robust internet strategy. Putting it in the MLS (and Zillow) is not a robust internet strategy. Many homeowners have the ability to put together a robust internet strategy given their background and career experience.

#3 Yes, negotiating is part of selling by owner. If the seller is uncomfortable negotiating, they could hire a real estate broker/agent to do so for them, at an hourly rate.

#4 The 8% FSBO figure includes FSBO sellers using a Flat Fee Listing to market their property in the local Multiple Listing Service. The actual FSBO seller % is higher since FSBO’s can now advertise in the local MLS. By advertising in the local MLS, does that mean they are not FSBO? No, they are just using the same tools as a broker/agent. In my MLS, the percentage of Flat Fee Listings has varied from 5% to 7% recently. Adding that to the 8% industry FSBO percentage increases it to 13% to 15%; down but not nearly as much as the misleading 8% figure.

Finally, #5 selling FSBO will net you less. Be careful buying into the study conclusions without knowing the details. The study was based on only 13 large population counties in the US; the smallest county in the study had a population of more than 750,000 residents. Is your county a large population county with more than 750,000 people? If not, can this study accurately forecast similar results for smaller rural counties? Does your county have a large enough population to use the methodology the study used? etc...

FSBO sellers do so because they want to save the money; they don't perceive the value of the commission payment for the services received. We should be looking at providing alternative solutions and choices to consumers, not just FSBO sellers.

Jun 20, 2018 10:21 AM

Milestone Germantown MD | Top 5 Reasons You Shouldn’t FSBO

Milestone Germantown MD | Top 5 Reasons You Shouldn't FSBO

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Fernando Herboso - Associate Broker MD, & VA

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