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Home » Reasons You Shouldn’t Try to Sell Your Home For Sale By Owner (FSBO)

Reasons You Shouldn’t Try to Sell Your Home For Sale By Owner (FSBO)

Selling your house on your own is not a good idea at all. We get that you may want to forgo the standard 6% commission most brokers ask for, but in the end, you’ll end up consuming quite a lot of time and energy for disappointing results. Here are our five reasons you shouldn’t sell your home by yourself:

Costs

We get that a 6% commission translates into a lot of money, but the truth is that you’re going to have to spend quite a few dollars if you’re using the For Sale By Owner (FSBO) method. One of the things most homeowners are not aware of is that the broker’s fee includes some marketing costs as well, specifically those related to promoting real estate listings.

Not to mention, when you do it on your own, you have no guarantee that your strategy will work, as you lack the skills, know-how, and connections a broker has. So, you may end up wasting money for nothing.

Wrong Valuation

Setting the right price for your home is the key to making a sale, and we’re willing to bet you don’t have the resources to do that. It’s not a number you can guess and call it a day. It has to be relevant to the current market. The wrong valuation can hurt you in many ways. If it’s too high, nobody will buy it. If it’s too low, you’re just giving your home away. At RE/MAX Experts we will provide you with a no-obligation personalized Comparative Market Analysis (CMA) that will help you accurately place a value on your home. 

Other Agents

You may have skipped on hiring an agent, but who’s to say your potential buyer has? Unless you only consider selling to people without one, there is a high chance you’ll have to sit at the negotiation table with another real estate agent, and this one’s not on your side. It’s unlikely that you’re prepared to do that, honestly. According to the National Association of Realtors, “87% of buyers purchased their home through a real estate agent or broker—a share that has steadily increased from 69% in 2001.” That is an 87% chance that you will have a real estate agent involved in your transaction even if you decide to list FSBO. 

The Legal Stuff

How much do you know about contract law, property law, or any law, for that matter? Because you certainly need the knowledge when you’re trying to sell your house. While there are ‘standard’ contracts available online, keep in mind that if anything goes wrong, you can be held liable. Brokers have insurance for that, so even if they make a mistake, you and them will be in the clear.

The Wolves

No, we’re not talking about actual wolves, but people who will try to take advantage of your lack of experience. When you FSBO, you become a target for savvy investors who will try to weasel their way into a good deal for them and a bad one for you. They’re good at it too, so don’t expect them to be too aggressive. They’ll use their negotiating skills to drive the price down as much as they possibly can.

Even with a top realtor in Lakeland Florida, it can still take a while to find the right buyer for your home. But, if you do it the FSBO way, you’ll quickly become impatient and may lose a good deal because you were too eager to wrap things up. Let us assist you in listing your home, that way you can sit back, and let us handle the hard part.