A Humble Proposal Against FSBO
Do we have your attention?
Of course we do!
The main rationale for anyone wishing to list their home is that they are looking to save money and these days who isn’t?
FSBO, or for sale by owner, properties have been around far longer than Realtors and continue to pop up throughout the marketplace among a sea of Realtor-assisted properties. While one can always respect the desire for a man or woman to maximize their investment and save money where one can, selling your own home is simply not an area in which one should take short cuts.
The facts against FSBO are in and while there are statistical outliers and exceptions to every rule, selling your own home instead of relying on a trusted, licensed professional is a waste of time and money at best and a life-changing nightmare at worst.
Together, we can take a glance at the pitfalls of homeowners attempting to sell their own homes alongside the benefits of hiring a trained, experienced Realtor.
FSBO? Just Say No
When it’s time to list your home and make that move, it can be tempted to list your home yourself and watch the savings pour in. The moving process is not free regardless of what route is taken and with large sums of money and investments on the line, it is critical for homeowners to receive the best possible outcome for them and their household.
The truth is that there are a lot of factors, details, and duties that are involved with the sale of a home and the exchange of property. These various points may be lost when first deciding on whether or not to use a real estate agent but they are important to remember regardless.
Taking a deeper look than the simple view that paying one less commission by not hiring a Realtor will save you money, is a great way to avoid additional stress and the loss of potential financial gain.
Pricing Your Home Out of the Marketplace
Understanding the price at which your home will sell at is one of the fundamental starting points when listing to sell a home.
The key here is to truly understand that statement. Pricing your home where it will sell, not the ideal price that you would like to receive or believe you should receive for your home.
Too often homeowners attach emotional value or perceived value to their homes in markets that simply dictate the home is worthless. The man cave that is a testament to your high school accomplishments, your customized iron gate with your family crest and name, or the fact that this was a “good” home to raise all 5 children in have little to no meaning or value to prospective buyers. Buyers are looking for a home of their own and while that new paint looks great and might add to the appeal of the house, vanity projects and personal tastes may not add the value you believe it should.
Realtors have no emotional attachment to your home and can, therefore, provide honest, expert advice without the rose-colored glasses you may be viewing your home through. Additionally, listing your home out of the marketplace can harm you in the long run due to the fact that you are doing two things when you list too high:
- You are pricing yourself in a position that allows your competition to show themselves as a more desirable home with better value.
- Besides selling your neighbors home, you may be missing your window of buyers who will find other homes and leave your home to remain on the market for additional time.
Using a real estate agent can avoid this completely by using their educated point of view and marketplace knowledge to position your home in an ideal position to sell without giving your home away.
Save the Hassle of Negotiations
Confrontation is not for everyone and even if you find that you are someone that isn’t bothered by it, are you equipped with the tools to handle it properly?
Real estate negotiations can be made or broken by things that seem to be trivial on the surface; however, buyers can view it as a bigger issue than sellers are willing or capable to perceive. The last thing a homeowner wants is to go through the struggle of listing and marketing a property only to finally find someone with an offer pending and it is derailed by a small problem.
Real estate agents once again come in handy because they are capable of taking the emotion out of the negotiation and can also advise their clients to do the same. Realtors are a buffer for buyers and sellers to speak openly and freely through a third party. This buffer allows for cooler heads to prevail should things get a bit heated and provides additional viewpoints for the respective sides.
You Aren’t Reaching All of Your Potential Buyers
Yes, even with that automated service that will only take a very small standard fee for selling your home and puts it on MLS.
Yes, even using your friend who is a Realtor who you promised a smaller commission to if they sell your home. They’re definitely going to market your home over a full paying client, you’re their friend after all right?
The truth is, using a Realtor with an expansive network and access to tools that you or other services do not fully have nor understand will open up your property to untapped potential that cannot easily be replicated. Maximizing your marketing reach and getting your home in front of the right people is exactly what Realtors specialize in accomplishing.
Even reaching buyers with agents may become an issue as FSBO homes can be looked down upon by agents. There are many things that can go wrong and if another agent isn’t on the other side fulfilling their duties, a buyer’s agent may avoid the property altogether to help their clients avoid unwanted headaches themselves.
Legal Liability For All Involved
The complexities that are intertwined with real estate contracts and the ramifications of those details can spell trouble for homeowners that decide to sell their home on their own. Protect yourself legally by hiring a Realtor who has resources to legal assistance and proper paperwork that will ensure your sale is legitimate and protected.
Remember the previously mentioned buyer’s agent that was keen to skip your property?
This is a perfect example as to why an agent may skip over your property to avoid legal problems and ensure their client is protected.
The Key to Listing in Humble, TX
These are just a few of the many things that can go wrong when homeowners decide to list their own homes. FSBO is a brave path to take but it is also one that can also prove to be foolish.
Reconsidering selling your own home?
The experts at Key Realtors are here to help and can provide a comprehensive marketing plan to ensure you maximize your home’s value in a timely manner all while being professionally represented and protected.