When selling your home, why put yourself at risk by trying to go it alone? Listing your home as For Sale By Owner (FSBO) carries a lot of pitfalls that you should be aware of.
One of the biggest risks associated with a FSBO property is wondering whether you’ve priced it correctly. You may think that you’re saving money by forgoing the costs of working with an agent, but you will truthfully net much less money in the end as a result.
Instead of being concerned with how much you spend at the beginning of the process, you should actually be thinking about how you can increase value in your transaction.
Most homes that are FSBO close for a lower price than they’re actually worth. By listing FSBO, you are losing money because of trying to save money.
Another thing you need to think about is how much paperwork really goes into the process. Are you really going to be able to handle the legal aspects of the transaction on your own? If you aren’t being advised by a professional, you could risk the entire home sale or even put yourself in legal jeopardy.
When you work with a Realtor, you gain access to their resources and networks. This means that you will sell your home faster and for more money than you would on your own. Many Realtors already have a list of ready and willing buyers who are looking for homes.
A quality Realtor will not only direct these buyers to your listing, they will also be able to determine which buyers are truly qualified to buy your home. Trying to weed through buyers on your own will be very difficult.
All of this just goes to say that trying to save money by avoiding commission fees simply isn’t worth it. Realtors tend to charge 6% for the overall listing. However, what you gain from working with them actually sets you even farther ahead than what you would accrue without paying that 6% fee.
Also, this 6% commission fee will actually be split between the Realtor and the buyer’s agent. This fee factors in marketing costs and a number of other things, all of which go towards helping you get the most from your home sale.
So before you decide to list your home FSBO, consider talking to a professional instead.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.