Why You Shouldn’t “For Sale By Owner”
By now, you’re aware of the benefits of working with a real estate professional. However, rising home prices coupled with the current inventory in today's market may cause some homeowners to consider selling their home on their own (known in the industry as a For Sale By Owner ). Believe it or not, a FSBO, as it’s candidly called, might not actually be a good idea for most sellers.
Here are the top five reasons not to FSBO: 1. Online Strategy for Prospective Purchasers
Studies have shown that 93% of buyers search online for a home. That’s a pretty staggering number! Most real estate agents have an Internet strategy to promote the sale of your home. Do you? 2. Results Come from the Internet Where did buyers find the homes they actually purchased? • 52% on the Internet • 29% from a Real Estate Agent • 10% Other • 6% from a Yard Sign • 3% from Newspapers The days of selling your house by putting up a sign in your yard or placing an ad in the paper are long gone. Having a strong Internet strategy is crucial. 3. There Are too Many People to Negotiate With Here’s a list of some of the people with whom you must be prepared to negotiate if you 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 (in some parts of the country) • 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
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