It is very easy for a homeowner to apply different rationalizations to the choice of selling their home themselves, as opposed to with a real estate professional. When they are upside down on their equity, or under some other stressed sale circumstance, it makes it even easier to go the For Sale by Owner (FSBO) route. The underlying rationale or myth is that they can save a lot of money for themselves if they don't have to pay broker fees. In their perfect world, that might happen. In most cases it does not, which is why over 75% of FSBO sellers eventually list their home with a professional agent.
In the case of a really stressed situation, time can be the difference between getting the home sold, or going to foreclosure. In whatever case all sellers want to realize maximum return on their home investment.
I've listed below a few important considerations one shouild make before trying to do what a professional is prepared to do, and equipped to offer.
1. FSBO's are relying pretty much on local traffic for their exposure. If they advertise, it is pretty limited and untargeted. Whereas, my marketing goes well beyond signage and brochure boxes. I market my clients' homes nationwide through over 50 sindicated websites / consumer search mediums.
2. I can also reach over 8,000 Realtors in the greater market area through the Multiple Listing Service. Realtors have the buyers, and they don't have time to run up and down the road looking for homes FSBO.
3. The more buyers that see your home, the more offers you will get to entertain, and the higher the price you are likely to sell your home for. A FSBO simply can't produce that much traffic to generate the offers.
4. The first three points are sufficient, but the last one is the kicker. A seller will negotiate away more of their equity than I will.
Before you put your home on the market yourself, talk to an experienced Realtor. You owe that to yourself.
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