Thinking of becoming a "For Sale By Owner" in Worcester County Massachusetts?

Thinking of becoming a "For Sale By Owner" in Worcester County Massachusetts?

Before you decide to become a FSBO ( for sale by owner), consider the extra time and money involved. Remember, Real Estate Agents perform many tasks, the scope of which you may not realize and all of which you would have to complete solo if you sold on your own. Some you actually do not have the ability to do at all. Tasks that real estate agents may do for sellers include: 

•Creating a comparative market analysis of homes in your area to determine the correct pricing for your home compared with the competition.

•Uploading your home's information into the Multiple Listing Service, a database of homes on the market that can only be accessed by licensed real estate professionals.

•Coordinating all the necessary paperwork for your home at each step of the transaction to ensure a smooth and timely closing.

•Working with the buyer's agent, home inspectors, lawyers and mortgage brokers to ensure that all parties have the information that they need to keep a closing on track.

•Advertising and hosting open houses.

•Taking photos of your home for marketing purposes.

•Paying for your home to be listed in local papers and on websites.

•Creating a website and web links for your home.

•Networking with other agents and brokers to attract the buyers that they are working with to view your home.

•Analyzing the market daily to recommend changes in your home's pricing strategy.

•Staging your home.

•Representing your interest during the negotiation process.

 Final Considerations
Did you know that 50% of all successful FSBO transactions are between family members or personal acquaintances and therefore the home never hits the open market? Being a FSBO can reap many benefits, but it can also have many pitfalls and landmines if you are not careful.  So whether you go FSBO or decide to use an agent, it is always a good idea to research and become educated on the processes of real estate transactions and weigh the pros and cons for yourself.  Finally consider this, according to a recent survey after all is said and done in a FSBO transaction, only 19% of all homeowners who sold FSBO said they would do it on their own again.