There are many dangers in listing your home For Sale by Owner (commonly known as a FSBO). It’s not because I have been in the real estate business for almost two decades that I very much dislike the idea of people selling their homes as Unrepresented Sellers.
There are a dozen reasons that immediately come to mind when I think of the drawbacks of not having a Professional Realtor represent you. The one that makes me the most uncomfortable, that is not something you can foresee, is the safety of the homeowner.
When you open your home to a stranger who just rang the bell, you have no idea who the person stepping through your doorway is. Friend or foe? Looky-loo or prospective Buyer? Qualified or just checking out the neighborhood? If they are qualified, can they get a loan anywhere near the price that you are asking?
Maybe they are looking to see if you have a security system, a vicious dog, asking friendly questions to find out when you might be leaving town. Often, would-be Buyers unescorted in your home are looking for the kinds of medicines you have in the bathroom cabinet, or the jewelry that you left lying on the bedside table.
You’ll escort them through your home, you say? In almost 20 years of selling houses, I have never sold a home to a Buyer when the Seller was present at the showing. People are uncomfortable in discussing with each other what they think of your home while you are with them. They are not interested in how your Uncle John installed a new toilet just last year, why you painted that particular wall purple, or how your house has granite countertops, as opposed to the identical house just down the street that has Formica – for $20,000 less. And because you are there, they think they are intruding on YOUR time and YOUR home. Not conducive to making a sale when you are trying to get them to see it as THEIR home.
So before a Seller considers sticking that FSBO sign in the front yard, at least talk to a Professional Realtor. Find out what is really in your best interest. Many people do not understand that Sellers generally net more money when they use the services of a Professional Realtor – even AFTER paying out the commission. Be safe, not sorry.
Dangers in Listing Your Home For Sale by Owner was written by Mimi Foster
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