So, you have decided to become an "unrepresented seller" and broker your own Carlsbad home (or as more commonly called, be a FSBO), or wherever you are. My guess is that you have a number of reasons for choosing to do this on your own, rather than enlisting the services of a licensed real estate professional. My question to you is...what are you afraid of?
Let's talk about this from two perspectives: first, your possible reasons for making this decision, and second, concerns you may as an unrepresented seller.
YOUR DECISION:
Fear of Paying a Commission - well, perhaps fear is the wrong word, but you don't want to pay it and think you can save money by going it alone. Well, the statistics don't back this up (see below)
Fear of Not Making Enough Money - if you don't pay a listing commission, you will make more money. At least that is your rationale - it may not be the reality. And you need to make as much money as possible. Right?
Fear of Having Someone Else Tell you What to Do - again, fear may not be the correct term, but you want to handle it on your own and not have some pesky agent telling you what to do and how. You know it all, don't you? Or do you?
CONCERNS YOU MAY HAVE AS A FSBO:
Fear of the Required Paperwork - do you know what paperwork is REQUIRED (i.e., is MANDATORY by LAW) in your state? Are you afraid of missing something critical? Or of making a mistake when completing the necessary documents?
Fear of Disclosures- do you know what you are required to disclose? Are you afraid of disclosing issues with your home's condition (e.g., a leaky roof, problems with the plumbing, a known structural defect). Are you worried at all about what a buyer might do if they find out you have not disclosed something important? Or that you are required to?
Fear of Correct Pricing - do you really know what your home is worth in today's market, or are you relying on the few neighbors and friends who are counseling you? Or what you have read in the paper? Or based on the one home down the street that sold 1 year ago? Are you using a comparable (that really ISN'T comparable) in the next town over? Is your home priced to sell (maybe you really DON'T want to sell)? Or are you afraid to ask too much money for your home? Statistics show that FSBO homes average 16% less than homes sold by an agent. Are you underselling yourself? Or, conversely, are you afraid if you don't ask as much as you are that you won't be able to negotiate down and still make enough money?
Fear of Not Knowing What to Do - are you concerned about the selling process and all that it requires? Do you know how to effectively handle an open house? Do you know how to qualify buyers?
Fear of Negotiation - are you fearful of having to negotiate directly with a buyer who allegedly wants your home? Are you concerned about all the objections a buyer might raise and how to deal with them?
Fear of Buyer Requests for Concessions- are you concerned that buyers are going to play hardball and ask for concessions, on top of offering a low-ball price (e.g., a credit of carpet and paint; paying a portion of the closing costs)?
Fear of Spending Money - are you afraid to spend money for marketing and advertising? Agents aren't. Are you worried about being creative in your marketing? Are you afraid you will not get maximum exposure in today's competitive market? You should be.
Fear of Security Issues and Lack of Privacy - are you worried about theft during open houses? Loss of, or interruption to, your personal life so you can accommodate buyer requests for showings?
These are just some of the concerns you may have as you begin your journey as a FSBO. Hopefully it will not be a long one. Don't hesitate to ask if you have any questions, even if you are not prepared to engage a licensed professional to help you...yet. And best of luck. Perhaps you will be one of the success stories.
