For Sale By Owner - Is It Worth It?

Reblogger
Real Estate Agent with Smart Way America Realty AB067859
Original content by Mimi Foster

Do you want that stranger in your home?

Even though I've been in the business for decades, I try to look at this objectively and wonder, if I weren't a Realtor, would I try to sell my house on my own? 

There are many dangers in listing your home For Sale by Owner (commonly known as a FSBO). But from any angle which I approach it, the idea of people selling their homes as Unrepresented Sellers is alarming.

There are a dozen drawbacks that immediately come to mind when I think of not being represented by a Professional Realtor. The one that makes me the most uncomfortable, however, is not something you can foresee, and that 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 for the price you’re asking?

Maybe they’re looking to see if you have a security system, a vicious dog, asking friendly questions to find out when you might be leaving town. Would-be Buyers unescorted in your home might be looking for the kinds of medicines you have in the bathroom cabinet, or the jewelry you left lying on the bedside table. And don’t even get me started on the dangers if you have children of any age.

Can you remain objective?

You’ll escort them through your home, you say? In decades of selling houses, I've never sold a home to a Buyer when the Seller was present during the first showing. People are uncomfortable discussing what they think of your home while you’re with them. And if they discuss the ugly wallpaper they would need to replace, will you to try to convince them that it's in as good condition as it was thirty years ago when you and your recently-deceased wife installed it?

They are not interested in how your Uncle John installed a new sink 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 – that's listed for $20,000 less than your home.

And because you’re there, they think they’re intruding on your time and your home. It's a situation not conducive to making a sale when you’re trying to get a prospective buyer to see it as their home.

So before you decide to stick that FSBO sign in your front yard, at least talk to a Professional Realtor. Find out what is really in your best interest. Or just text or email me with NO OBLIGATION. I'll be glad to discuss options with you, not the least of which is that Sellers generally net more money when they use the services of a Professional Realtor – even after paying the commission. Be safe, not sorry.

Originally published as Dangers in Listing Your Home For Sale By Owner by Mimi Foster

Selling homes throughout Colorado Springs, Old Colorado City, Manitou Springs, and surrounding areas

 

     

Mimi Foster

(719) 460-7570

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Mimi has received the honor of being voted one of the best Realtors in Colorado Springs five years in a row. With over two decades of experience, she is committed to making the home buying/selling process as painless and enjoyable as possible. Read Full Bio…

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Your Trusted Pro in the Poconos, Professional Results You Expect 

Kris Collis, Associate Broker

Smart Way America Realty

East Stroudsburg, PA 18301

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Comments (2)

Mimi Foster
Falcon Property Company - Colorado Springs, CO
Voted Colorado Springs Best Realtor

Thanks so much for the reblog, Kris. This is a good one that a lot of people need to see. Hope you're doing well.

Mar 08, 2020 09:35 PM
Kris Collis, Associate Broker

So true Mimi, thanks for helping sellers think through the issues when considering what representation is best for their home sale.

Mar 08, 2020 10:38 PM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Kris. Mimi has some solid advice when it comes to being objective and safe. The number of successful FSBO's verifies the concerns. Enjoy your day!

Mar 09, 2020 04:25 AM