The rising prices of homes and lacking inventory prompts some homeowners to sell their homes on their own. This method is called the For Sale By Owner (FSBO).
Here are 5 reasons why it is not as beneficial as it may seem.
1. Limited Exposure to Potential Buyers
Real estate agents are part of a bigger network of potential buyers. If you want to sell your property, you cannot solely rely on your own.
2. Sales Come from the Internet
Majority of buyers search for property online, according to a study conducted by the National Association of Realtors. Having a marketing strategy online is one of the perks of selling your property through a real estate agent.
3. Hassle in Negotiations
Before closing a sale, you have to go through a lot of negotiations while talking to more than one person. You’re not just negotiating with the buyer. As a seller, you have to negotiate with the buyer, the buyer’s attorney, appraiser, and home inspection companies.
4. Doing FSBO is More Difficult Than You Think
Selling your property is not as easy as putting up a ‘For Sale’ sign on your lawn. There has been an increased amount of paperwork involved in buying and selling a home.
5. You Will Net Less Money When not Using an Agent
Without an agent, you might price your property too low or too high. FSBOs don’t save anything according to a recent study by Collateral Analytics. Selling through an agent allows you to have a bigger market that could compete with each other in a bidding war to buy your property, and make the price go up.
Before you make the decision of selling your house on your own, talk with a real estate professional and see what they have to offer.
At Burgess Group Realty LLC, we help our clients sell their homes at the best deal. Let’s talk so we can help you sell your property smooth and hassle-free.
CALL Catherine now at 303.506.5669.