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Real Estate Investing - Original Content

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Top 5 Reasons You Shouldn’t FSBO

In today’s market, with home prices rising and a lack of inventory, some homeowners may consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). Here are the top five reasons: 1. Exposure to Prospective Buyers According to the 2017 Profile of Home Buyers and Sellers from NAR, last year 95% of buyers search online for a home. Most real estate agents have an internet strategy to promote the sale of your home. 49% on the internet 31% from a Real Estate Agent 7% from a yard sign 1% from newspapers The days of selling your house by just putting up a sign and putting it in the paper are long gone. There Are Too Many People to Negotiate With Here is a list 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 interest of the buyer The buyer’s attorney (in some parts of the country) The home inspection companies, which work for the buyer and will almost always find some problems with the house The appraiser if there is a question of value 4. Realize that the main reason buyers look at FSBOs is because they also believe they can save the real estate agent’s commission. The seller and buyer can’t both save the commission. One of the main reasons for the price difference at the time of sale is: “Properties listed with a broker that is a member of the local MLS will be listed online with all other participating broker websites, marketing the home to a much larger buyer population. Members: Sign in now to set up your Personalized Posts & start sharing today!