Ever thinking of selling your home by yourself?
When you're able to sell on your own, saving up a potential of $4–$8k in closing costs looks like a fantastic deal, right?
Simply pick up your phone, get some pictures up, put it online or on Zillow, and people will undoubtedly rush to buy it!
Well.. if it's just really that easy, then why did it failed 80% of the time this year?
Here at The Williams Team, we will give you 4 reasons why going FSBO (also known as "For Sale By Owner" ) - will not work as well as you thought it would!
1.) Say goodbye to financing
When you finally get a buyer that will not be closing a deal with cash, then you might have some serious problems moving forward!
In the current real estate market, lenders and institutions most likely will favor transactions that's properly represented by licensed realtors, especially those with worked out closing dates.
The thing is, these same institutions view sellers going FSBO as "not-so-serious" sellers and are often just trying to test the market to either get their house sold at a far-fetched price, or to set unrealistic standards for the perfect buyer to come along (which almost never happens!)
2.) You're almost never going to price it right
It's just near impossible to get a good deal without being represented by a realtor these days.
By stripping yourself of a realtor's years of experience from buying and selling, you lose the advantage of pricing your house right to sell quickly.
You could even have problems justifying the price according to market's standards on your own. You're basically throwing money away if you're pushing yourself in this direction.
You'll most likely get top dollar for your home if you just simply approach selling the usual way. Going FSBO will only give you headaches from not finding a buyer's agent that is going to work with you, especially if you have set unrealistic expectations towards selling your home.
3.) You miss out on the best option on the market
Realtors are created for the purpose of helping you buy or sell your home, and are still your number one option -
Realtors have the skills and experience to showcase and market your property so that it will meet the demands of the marketplace.
Deciding to go on your own without these years of experience is just basically inviting costly errors - not only with showcasing your home, but also with closing-related issues that only a seasoned realtor could navigate through.
Going FSBO also means that you will fund every procedure necessary to list your property. Listing agents do not charge anything upfront to sell your home. If they spent thousands and can’t sell it for the price you want, then they are out those thousands - not you!
You must do all the work yourself and face countless obstacles and disappointments along the way if you're going FSBO. If there's a better (and a much cheaper way) of doing things, then why deny yourself of that?
4.) You're still going to end up paying more at the end
Been wanting to avoid those commissions on the closing table? You're out of luck - you might still find yourself agreeing to a price where a buyer's commission and closing fees are taken into consideration.
Choosing to sell FSBO doesn’t really save you money. On average, homes sold by agents get 25%-40% more vs FSBO over the recent 5-month period.
When you find the right agent, they will price your property to get the most money in the shortest time, a combination that can mean 10-30% more net profit.
No matter what your reasons for selling your house are, there are many local real estate agents (including us!) that are willing to help you sell your home. You really do need to pick a real estate professional that is knowledgeable about and experienced in dealing with sellers of various types of properties.
Real estate belongs in the world of substantial wealth, and it calls for qualified experts who can perfectly evaluate how much a property is worth.
If you're going FSBO right now, it's not too late! visit www.thewilliamsteam.com and let's talk about how we can get your home sold for the price that you want.