3 Reasons Why It May Not Pay to Sell Your Home Yourself

By
Real Estate Agent with Coldwell Banker Residential Real Estate
Many sellers are tempted to list For Sale By Owner (FSBO) because they feel home prices are down and they don't want to lose one more penny by paying a real estate commission. But with fewer than ten percent of all home sales falling into the FSBO category, it's a challenging strategy. Here are three reasons why you should think twice about this strategy:

1. Personal Security - You have to safeguard yourself against prospects that have not been screened and qualified by a professional. When someone calls to request a showing, note their caller ID and keep a log of visitors. Stash away prescription medications and valuables before showings, and afterwards check that all your windows and doors are locked.

2. Liability - There are also legal considerations to take into account for your real estate listing and hopefully, your eventual sales contract. Be sure your listing complies with the Fair Housing Act, which prohibits discrimination against buyers. If you're unfamiliar with escrow and title insurance, hire a real estate attorney to draft, review and record all documents.

3. Financing - This economy makes securing a loan difficult, so it's wise to require a loan pre-approval letter from potential home buyers before accepting any offers. If you really want to get attention, sweeten the pot by offering a two to three percent commission to any real estate agent who brings buyers to you.

FSBO is not the easiest route to selling your home, and many impatient and frustrated home sellers end up hiring an agent to make the sale happen.

Mike Morgan
Team Morgan
Coldwell Banker Real Estate
“For Every Move You Make"

Whether you want to buy or sell a home in Miami, Palmetto Bay, Pinecrest, Dadeland Walk, South Miami, Coral Gables or Cutler Bay, you can depend on the Morgan team of realtors to assist you every step of the way during your real estate transaction.

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Rainer
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Amanda Perry
Cypress Realty Group - Florence, AL

This is great to show to potential Sellers. Short and to the point, friendly and helpful... Thanks for posting!

Jun 22, 2011 05:01 AM #1
Rainer
345,832
Charlie Dresen
Steamboat Sotheby's International Realty - Steamboat Springs, CO
Steamboat Springs, CO e-Pro

And I might add that if marketed correctly, which is what all agents do . . . ? the home just might sell for more and thus paying for the fees and more.

Jun 22, 2011 05:05 AM #2
Anonymous
Mike Morgan

Thank you for your response. Wonderful to know people are reading these. You are right, marketing does help. But not all agents market REO's as thery think that they do not have to. Listings should all be treated the same no matter the source of the listing.

Jun 22, 2011 06:57 AM #3
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