5 Reasons why you shouldn’t sell your house by yourself (For Sale by Owner) but with a Real Estate Agent.
Some homeowners consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). We think there are several reasons this might not be a good idea for the vast majority of sellers.
Here are five reasons:
1. 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 FSBO.
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
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
Your bank in the case of a short sale
2. Exposure to Prospective Purchasers
Recent studies have shown that 92% of buyers search online for a home. That is in comparison to only 28% looking at print newspaper ads. Most real estate agents have an internet strategy to promote the sale of your home. Do you?
3. Results Come from the Internet
Where do buyers find the home they actually purchased?
43% on the internet (over 400 websites with your broker!!!)
9% 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. Having a strong marketing strategy is crucial.
4. FSBOing has Become More and More Difficult
The paperwork involved in selling and buying a home has increased dramatically as industry disclosures and regulations have become mandatory. This is one of the reasons that the percentage of people FSBOing has dropped from 19% to 9% over the last 20+ years.
5. You Net More Money when Using an Agent
Many homeowners believe that they will save the real estate commission by selling on their own. Realize that the main reason buyers look at FSBOs is because they also believe they can save the real commission. The seller and buyer can’t both save the commission.
Studies have shown that people are more likely to FSBO in markets with lower price points. and that selling on your own takes longer and you may get Unqualified buyer
Before you decide to take on the challenges of selling your house on your own, sit with a real estate professional in your marketplace and see what they have to offer.
Author:Yael Shanee Phone: 917-705-3717 Dated: July 13th 2017 Views: 247 About Yael: Real Estate Agent CBR (21 years experience)
Specialties: Buyer's & Seller's Agent, Income and Mixed...
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Prime Realty was founded by Mitchell Slavuter a licensed broker in 2009. Although, Prime Realty is a relatively young company, Mitchell has been in the business for 15 years. Mitchell's love of Real Estate has brought Prime Realty where it is today and continues to grow in leaps and bounds presently staffing over 80 dedicated and enthusiastic Sales Associates, which whom Mitchell shares his passion and eagerness for the business. Please get to know them and put a name to their faces as well, by viewing their individual biographies.
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