While there are some attractive things about selling your own home without the aid of a realtor, there are also some drawbacks. While a lot of people see the attractive savings in real estate commissions, they don't realize the little things that the realtor does that help sell the property, find the right buyer, and even safeguard a sale from falling through.
For Sale By Owners, also called FSBOs, are willing to go to great lengths to sell their homes themselves. They often put in many hours for the sake of savings and independence. However, they often must put in these arduous efforts because they don't have the experience to sell their homes efficiently. Here are some of the hazards the dedicated FSBO may encounter during the sale process.
These are only a few of the problems a homeowner can encounter when selling his or her own home. Before you launch yourself into this world, consider all your choices carefully, and listen to a listing presentation from your local realtor.
The homes are on the market longer.
For one thing, the standard MLS only allows only real estate agents access, so this limits the self-marketer to smaller MLS publications and newspaper/Internet ads. This lack of exposure often keeps the home on the market longer.
The homeowner covers marketing fees.
While the cost of putting an ad in the paper doesn't seem like much, over time it gets expensive. Add in the costs of color flyers, a sign with brochure holder, Internet advertising space, and maybe even your own website, and it adds up fast.
Buyers or browsers?
Often the FSBO gets a different sort of buyer-those who only want to "see" the home and not necessarily buy. For some reason they don't mind inconveniencing the FSBO with their purposeless intrusions. Sometimes they will even get people who just want new decorating ideas. A realtor will screen those out.
Prequalification.
The FSBO also often does not pre-qualify buyers like a realtor will. Prequalifying cuts down on intrusions for showings that may amount to nothing.
Buyers want to save money, too.
If a buyer knows you are saving a commission, he or she may offer you lots less than you are asking. Although you can use this financial cushion for negotiating a final price for a truly interested buyer, you are wasting your time with buyers who think they are entitled to your entire commission savings. Your best bet is to speak to a licenced Palm Springs Realtor, if you need assistance selling your home we would be glad to help.
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