Selling On Your Own? Here's What You Need To Know

Consider These FSBO Truths Before Jumping In

Selling a home is a complex process, one that your trusted real estate professional is prepared for. While selling your home yourself might seem like an enticing opportunity, For Sale By Owner can lead to some tricky situations. Before going the DIY route, there are a few things you should consider.

1. FSBO homes sell for less & spend more time on the market - Pricing a home is far more challenging than most realize. Sellers are often too personally invested, pricing homes at what they hope it should sell for, or based on emotion. Buyers want a bargain, and know when a home is overpriced. Bloated pricing can cause the property to sit on the market for an extended time, often before drastic price cuts. It can leave buyers wondering what’s wrong with your home.
2. No one is looking out for you - Lacking the representation of a licensed broker can put the seller (or buyer, for that matter) into some hot water. There are a variety of contracts, disclosures, occupancy agreements, and more involved in selling and buying a home, and it can be very easy for an inexperienced seller to make a mistake. Liability is on the seller, and any mistake, no matter how small, could be a costly one. A licensed broker understands these legal pitfalls, and will always be there to help.
3. You won’t get the same exposure - A real estate pro knows the ins and outs of your market, and can effectively get your property in front of the right buyers. Sales strategy is key to selling a home, and a licensed broker will understand how to market your home in the most compelling way. Brokers also understand the power of the multiple listing service (MLS), which puts your property in front of thousands of potential buyers and their brokers. With FSBO, your home won’t go on the MLS, and is limited only to sites that cater to those listings.