Lethbridge Real Estate For Sale By Owner

Lethbridge Real Estate - For Sale By Owner

I frequently get asked about homeowners who choose to sell their Lethbridge property 'for sale by owner' or FSBO as some call it.  We have no shortage of companies who promote this idea locally, propertyguys, comfree, housecentral, welist, etc.  I think currently in Lethbridge there are around 6 active for sale by owner real estate companies trying to compete with each other.

These Lethbridge businesses offer you a few services for a flat fee.  Typically they ask for between $300 and $900 for their 'help'.  What do you really get for this money?  Basically for your flat fee they will give you a corrugated plastic sign with their logo on it, a few copies of some blank contracts, and put a picture of your home on their website.

Here is basically what is wrong with that idea:

1. If signs sold properties the professional real estate industry would have disappeared decades ago.  Cant you buy a sign at Home Depot for $5?  Why pay more than that for a sign?

2.  The contracts they provide are not adequate to protect you from liability should your for sale by owner real estate transaction not go according to plan.  Does this happen? YES!  I would speculate that more than 50% of all private transactions experience a legal hiccup before closing. 

3.  The FSBO websites are there to sell their service, not your property.  They are designed to recruit more listings, not sell homes.  You see, the FSBO company has no vested interest in whether your home sells or not, they have already been paid.  They just want to recruit more listings.

Why Use a Realtor?

The only objection I have ever heard to not use a professional full time Lethbridge Realtor is $$$.

Yet, independent statistics consistently prove that homes listed with a professional full time Realtor will sell for more money than those sold privately.  Not only that, but Lethbridge home sellers who use the services of a Realtor, enjoy the legal protections, insurances, and advice of a professional.  That is not to say that there are some in the industry who are not better than others, but in general any Lethbridge Realtor is better than none, if not simply for the legal protections and insurances which help to protect the transaction and the parties involved.

Let's face it, there are some jobs you can do yourself and the results are relatively minor whether you use a professional or not.  Heck, I mow my own lawn.  Certainly I do not do as good a job as the guys who do it professionally, nor do I do it as quickly or without the odd incident of running out of gas or over top of something I probably should have moved, but it is a trivial thing.

Selling Lethbridge real estate is much more significant that mowing a lawn.  With most homes being worth several hundred thousands of dollars, to enter into any sort of legal contract without professional guidance is foolish.  The market is full of scammers and conartists.  Many of these criminals prey upon those people who are the easiest targets, which is often those with no professional representation.  Be Careful.

Is that Lethbridge FSBO company going to give you advice? NOPE.  Why not?  Because first off it is illegal for them to give ANY real estate advice at all.  Secondly, most of them are run by people with absolutely no real estate knowledge or experience at all.  Their skill lies in convincing people to give them $500 for a $5 sign, not in selling houses.

Am I against selling your home privately?  Certainly not.  There are times when selling your home yourself can make sense and can be a sound decision.  There have been real estate markets in the past in which it has been relatively easy to do so.  That being said, the market we are currently in is a fantastic and challenging one.

Real estate markets have changed, Lethbridge mortgage financing rules have changed, municipal government legislation changes too.  There are bits of knowledge and experience that a competent Realtor can share that will help you maximize your net dollars and minimize your potential for problems and liabilities.  In the end, that is truly what most home sellers want.  Maximum dollars, minimum problems and delays.