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Why You Should Think Twice about Going For Sale by Owner

With the market trending in sellers’ favor, you might be tempted to try selling your home on your own, AKA For Sale By Owner. Sure, you may not have to pay commission—but did you know that, on average in 2017, FSBO homes sold for $200,000 compared to $265,000 from agent-assisted sales?

In addition to missing out on major profits, there are a lot more mistakes that can be made during the selling process. Here are the top reasons why you should enlist the help of an agent.

Pricing Your Home

A row of homes on a fall day.

It might come as a surprise, but finding the best price for your home is one of the biggest challenges of the sale. If you price too low, you’ll miss out on maximizing your investment. But if you price too high, your home will sit on the market for weeks without attracting buyers.

You could use an online estimator for help, but those often rely on outdated information and don’t take into account any recent updates you’ve made.

When you list your home with a professional, you won’t have to worry about finding the right price—I’ll take care of it all. Give me a little background info on your home, I’ll research any improvements you’ve made, market trends, and what similar homes have sold for, and get you a competitive listing price ASAP.

Marketing to Buyers

A man on a laptop.

Once you’ve got the right price, you need to let buyers know that you’re open for business. A lot of FSBO folks use yard signs and personal social media, but not much else.

When you list with an agent, we’ll use the MLS database, local contacts, our social media platforms, local media, our website, and more to guarantee that all potential buyers know about your home.

Navigating Negotiations

People at a meeting.

Negotiating is a huge part of selling your home, and it’s not just the buyers that you’ll be negotiating with. Other parties include:

  • The buyer’s agent, attorney, & lender, all of which will be pursuing the best outcome for the buyer.
  • The home inspectors, who will be carefully investigating your home for issues.
  • The home appraiser, if the value doesn’t match their estimates.
  • Any construction or maintenance companies that have to come in and deal with problems raised during the inspection.

When you go for FSBO, you won’t have a professional in your corner to represent and fight for your best interests. Not only are negotiations stressful, but they can also be surprisingly time-consuming.

Want to Learn More What FSBO Takes?

There’s a lot more to selling a home than pricing, marketing, and negotiating—and there’s a reason that more and more buyers are choosing to list with an agent. If you want to learn more about the pitfalls of FSBO and how I can help you avoid them, then give me a call.

In the meantime, browse some more of the resources I offer sellers, and let me know when you’re ready to list your home.

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