Did you know that over 80% of buyers use a real estate agent to buy there home? That's a pretty high number and it should be a real red flag to anyone who is thinking about trying for sale by owner.
How can they possibly sell their home for the most amount of money when they are missing a huge portion of potential buyers, and the basic law of supply and demand says that the more buyers that are looking for what they have the more they can sell it for.
The statistics bear this out because FSBO homes average a significantly lower sales price, over 10% less then homes sold on through realtors on the mass market.
Beyond the supply and demand downside of selling by owner they should also consider the professional representation they are missing. I mean who takes care of the FSBO seller to make sure the sale closes properly? There are title reports, inspection addenda, finance contingencies, feasability addenda, disclosures, escrow accounts, easements, and many other items that a seller should have a professional to represent them on.
On top of these things there are plenty of safety issues to consider. Are they comfortable opening their house to unscreened buyers? It is well documented that letting the wrong buyer in can result in theft, harassment, or worst of all assault. Is it a risk worth taking?
Considering the fact that FSBO'S typically net less money I can't see the upside to exposing themselves and their families to the safety risks... I know I wouldn't want my wife in that situation?
Our job is a lot bigger than marketing. It's about taking care of our clients and the reality is that there are a lot more ways we do that than first meets the eye.
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