3 Surprising Truths about Selling your Property on your Own

Some people think that listing your home for sale by owner (FSBO) is better than having it with a licensed realtor. However, they should be aware of these things before considering putting up that sign in the yard.

1. The top reason why some sellers will opt to sell their home on their own is to keep themselves away from the 5-7% real estate commissions. What most of them don’t know is this. On the average, many FSBO’s have not much of a choice but offer a commission to the buyer’s agent if he is represented. However, the amount offered to the buyer’s agent is up to the seller. Sellers may not opt to do this but it would actually turn off the buyers. They do not like it when some sellers do not even offer a buyer’s agent commission and just pass the responsibility to the buyer. But with a licensed realtor, no hassle will be involved in negotiating with all the payments. All that the seller has to do is set the price that he wants for the property, sit back and wait for the real estate experts do what they are good at.

2. Fact: according to NAR, the average FSBO sold for $184,000 compared to $230,000 for agent-assisted sales in 2013. Some owners who sell their property on their own are not trained in negotiating and they do not have all the time in doing so. Selling your property on your own entails huge time and emotional investment. Most of the time, FSBOs only get lowball offers, making the owner equally frustrated and left with no choice but to accept the best offer that he thought he can only have.

Also, FSBOs sell for significantly less than properties that are listed with an agent. Coming up with an accurate list price is very important and it can also be one of the main disadvantages in selling your home on your own. Let the real estate experts do this stressful task for you. They are continuously looking at comparable properties and they have a good grasp of how the market is doing. Realtors have been inside many homes and they have access to a multiple listing service to look for records and past sales. Many individual home-owners do not know the most sellable and accurate price to go for, when to reduce the price, and the most reasonable offer.



3. Another huge disadvantage of listing your home For Sale By Owner is the absence of quick resources available for marketing and advertising. Licensed realtors have access to several advertising and marketing platforms and of course, Multiple Listing Services that they can use to highlight your property to potential buyers. The proven and tested marketing strategies that realtors often use are networking groups, signage, mailings, ads in newspapers and magazines ,open houses, flyers, the company contacts or referrals as well as past and current contacts and of course, the internet.
Currently, search for properties to buy are initiated online. Most organizations in MLS release their listing data to appear on dozens of other websites. What’s more is that realtors often hire professional photographers to create an irresistible appeal along with the new trend which is the virtual tours of your property. Anyone can replicate these professional services but they come with a high price and expertise.

The sale of your home can be a tiresome and demanding transaction. Not everyone can exhaust all of their resources for the success of this one. The requirements and laws of the real estate or housing industry are always changing. This is why it is always a wise decision to list your house with a realtor.