1. There Are Too Many People to Negotiate With
Here is a list of
some of the people with whom you must be prepared to negotiate if you decide to 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
- Your bank in the case of a short sale
2. Exposure to Prospective Purchasers
Recent studies have shown that 92% of buyers search online for a
home. That is in comparison to only 28% looking at print newspaper ads.
Most real estate agents have an internet strategy to promote the sale of
your home. Do you?
3. Results Come from the Internet
Where do buyers find the home they actually purchased?
- 43% on the internet
- 9% from a yard sign
- 1% from newspapers
The days of
selling your house by just putting up a sign and putting it in the paper are long gone. Having a strong internet strategy is crucial.
4. FSBOing has Become More and More Difficult
The paperwork involved in selling and
buying a home
has increased dramatically as industry disclosures and regulations have
become mandatory. This is one of the reasons that the percentage of
people FSBOing has dropped from 19% to 9% over the last 20+ years.
5. You Net More Money when Using an Agent
Many homeowners believe that they will save the real estate
commission by selling on their own. Realize that the main reason buyers
look at FSBOs is because
they also believe they can save the real commission. The seller and buyer can’t both save the commission.
Studies have shown that the typical house sold by the homeowner sells
for $184,000 while the typical house sold by an agent sells for
$230,000. This doesn’t mean that an agent can get $46,000 more for
your home as studies have shown that people are more likely to FSBO in
markets with lower price points. However, it does show that selling on
your own might not make sense.
Bottom Line
Before you decide to take on the challenges of selling your house on
your own, sit with a real estate professional in your marketplace and
see what they have to offer.
www.linkme2okc.com
405-850-5065
troyndenise@gmail.com
TOP 3% IN PRODUCTION OF 3,300 OKC METRO REALTORS
