When it’s time to sell your home, will you be the one who puts up the For Sale sign? The idea of putting up a For Sale By Owner (FSBO) sign will probably be a consideration with the hope of avoiding the majority of the 6–10% selling costs that come with having a real estate agent list your home.
With an FSBO, prepare to take on all of the duties and liabilities that you otherwise would be paying an agent to assume. You will have to find access to comps to accurately price your home, and you will need to be aware of the legal aspects of a home sale. Be sure to check your state’s laws for selling your home and determine if there are any regulations you must additionally comply with as a FSBO. Any omissions may be costly and litigious.
If you are an inexperienced seller and choose to market your home and take on the challenges of a For Sale By Owner, you will quickly appreciate the skills that a real estate professional brings to the table. FSBO listings usually have a hard time targeting the right buyers and are often underpriced and less attractive.
KEY TAKEAWAYS
- You might be tempted to avoid a real estate agent, save the commission, and just sell your home yourself—also known as “for sale by owner” (FSBO).
- While tempting, in most cases the risks of going it alone likely doesn't outweigh the benefits.
- Risks include having few potential buyers (let alone qualified buyers), making emotional decisions, not knowing how to negotiate properly, and not having enough free time to dedicate to finding a buyer.
- One of the biggest risks of FSBO is not having the experience or expertise to navigate all of the legal and regulatory requirements that come with selling a home.
Working with a real estate agent will help you avoid these common problems, assure a successful sale and still realize a profitable outcome. Our team is here to list
and market your home for you so your next home sale will be as stress-free as possible. Call or email us, and let’s put you in the best possible position when you sell your home.
Photo 1 by Sieuwert Otterloo on Unsplash and Photo 2 by Scott Graham on Unsplash
Posted by The Cobb Group on
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