For Sale By Owner - Not a Good Option?

Let's face it, the reason most people use the "For Sale By Owner" or FSBO method is to save on the real estate commission. What those people don't understand is that the process of marketing and selling a home or condo is just that, a process. From start to finish the sale of your home can take up to six months. In the U.S.A. the National Association of Realtors (NAR) states that FSBO's sell for as much as 20% less than homes sold by Realtors. That is a far cry from the six percent real estate commission.

For a real estate agent there is one primary goal, selling your home or condo. The agent won't let his or her emotions get in the way like the owner of a home will. The truth is that most buyers feel very uncomfortable when the owner is home during a showing. Buyers tend to feel like they can't ask the questions they would like and can't voice their true opinions, so you can imagine what they feel like when they walk into a FSBO. When an owner shows their own home, they tend to make the entire experience too personal and geared toward their experiences there, and that turns off potential buyers which makes it harder to sell the FSBO.

FSBO's don't realize when they try to sell their own property that they will be subject to complete strangers walking through their home at all hours of the day. After a few weeks of FSBO's juggling their daily schedule to accommodate different buyers, FSBO's will generally get frustrated or completely stressed and call their local realtor to list their home for sale. Realtors will make sure that buyers coming through are pre qualified and looking for a property that is similar to your home.

If a FSBO does get lucky enough to finally get to contract, then comes the hard part, negotiating. Negotiating price and terms of the contract can be tricky and FSBO's tend to attract buyers looking to make low ball offers, or even worse commit fraud. They think if there is not an agent there looking out for the seller’s best interest, that they can take advantage of them. Realtors are trained to spot fraud and help to keep potential buyers from bringing low ball offers.

Many times you will see FSBO's agree to accept an offer from a buyer being represented by a real estate agent, and since most serious buyers have an agent this happens all too often. This scenario can be catastrophic for the FSBO in the negotiating process. An experienced agent knows contracts and contingencies inside and out and will structure deals in the favor of their buyer. Without an agent on their side the FSBO will generally accepts price and terms far below what an experienced seller's agent would be able to get for them.

These are just a few reasons to use a Realtor when you are ready to sell your home or condo. The sale of a home is usually the largest and most stressful transaction that people make in their life, so why not make it a pleasant experience and enlist the services of a Realtor.

Top Ten Reasons Not To Go FSBO

10. You open yourself to unneeded stress and aggravation.

9. FSBO's can be a security risk for the seller.

8. Unqualified strangers walking through your home.

7 Takes hours out of your day and some appointments never even show up.

6. You could end up negotiating with an experienced buyer's agent.

5. You may be unaware you are participating in fraud.

4. Advertising can be expensive and unreliable.

3. Most of the calls you will get will be from Realtors anyway.

2. You will probably overprice you home.

And the number one reason not to go FSBO…….who wants to ruin their weekend having an open house?

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