One of the biggest thing that any FSBO seller has to worry about is getting their home sale advertised and recognized in the local marketplace. In addition, consider that the bank will do their own appraisal of the home, when lending money to buyers. FSBO sellers don’t have as much experience as seasoned real estate agents or brokers, whose credentials require years of study and practice. Single family homes have been selling for 153 per square foot of living area.
As you can see, before selling for sale by owner, weighing the pros and cons is a wise move. This way, you can establish contact directly with the owners and save money and time by bypassing Brokers or agents. If you are a FSBO seller, you are actually marketing your home without a real estate broker.
You need someone who can help you create tactics to prevent yourself from being taken advantaged of. According to statistics, being able to get professional help could mean selling your homes 16% more than FSBO. That may be why only 9Â percent of today’s sellers attempt to do the job without an agent, down from 12Â percent in 2006.
For example, buyers who want to own a home but have poor or damaged credit can often work with sellers on terms. Your buyer’s agent can help you make sure the negotiations, paperwork and sale process run smoothly. When my wife and I decided to sell our house, we considered our options of selling ourselves versus enlisting the assistance of a realtor.
Your real estate agent will also have the means toÂ promote your house to fellow agents to share with their clients. FSBO sellersÂ would have to shell out big bucks for advertising and still might not reach the most important audience. Not all FSBO sellers are born negotiators, but those comfortable with the give-and-take of dealmaking naturally have a leg up on those averse to confrontation.