In today’s market, some homeowners may consider trying to sell their homes on their own, known in the industry as a (FSBO). There are a few important reasons why this might not be a good idea for most sellers.
Where did buyers find the homes they actually purchased?
- 50% on the Internet
- 28% from a real estate agent
- 7% from a yard sign
- 1% from newspapers
The days of selling your house by putting out a lawn sign or putting an ad in the paper are long gone. Most real estate agents have an Internet strategy (which is where most exposure to potential buyers comes from) to promote the sale of your home, do you?
2. There Are Too Many People to Negotiate With
Here is a rundown of some of the people with whom you must be prepared to negotiate if you decide to For Sale by Owner:
- The buyer who wants the best deal possible
- The buyer’s agent who solely represents the best interests of the buyer
- The buyer’s attorney (in some parts of the country)
- The appraiser if there is a question of value
- The home inspection company, which works for the buyer and will almost always find some problems with the house
This is one of the most important reasons. Many homeowners believe that they can save on the real estate commission by selling on their own, but they don’t realize that the main reason buyers look at FSBOs is because they also believe that they can save on the real estate agent’s commission. The seller and buyer can’t both save the commission. There is some research that indicates FSBOs don’t really save anything in the long run, and in some cases may be costing themselves more by not listing with an agent.
Ultimately, why would you choose to list on your own and manage the entire transaction when you can hire an agent and not have to pay anything more?
Before you decide to take on the challenges of selling your house on your own, give us a call and we can get you set up on a successful path to sell your home for the most money.
Your Real Estate Consultant
REALTOR®, BOLD, EcoBroker, CNE, CHRE, ILHM, KW Luxury
Professional Denver Real Estate for the Urban at Heart