There are several reasons why homeowners try to sell their home themselves. The main reason is to save money and many think selling a home is easy, right? Wrong!
Do you really know how to market your home and get buyers through the door? FSBOs biggest problem is that their homes suffer from lack of exposure. Unless you are using a real estate agent, you’re not in the Multiple Listing Service. This exposure alone is worth a lot of money. Many FSBOs have paid several hundred dollars for a weekend classified ad.
Another FSBO problem is the buyers are usually not serious buyers. People who are ready to buy use agents because they don’t have to pay their agent a fee, and agents have the resources buyers need.
Most importantly, most real estate transactions are broker-to-broker (between buyer and seller agents). On top of the lack of exposure, do you have the time to commit to this? One of the keys to selling your home effectively is accessibility. Most likely you work full time, and won’t be around to show the house.
Real estate agents spend a lot of time at their listings…this is what they do for a living. If your not around, your not going to sell your home.
Are you versed on the legal paperwork? You are exposed to a lot of liability. Are you completely informed on the legal aspects of selling your home? Are you confident you are using all the necessary and correct forms? Is your disclosure 100% accurate? If your not up to par with contracts you can run into a legal mess. If your not 100% confident, it’s wise to hire a professional real estate agent.
Source: Lee Dworshak. realtor.com
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