Is it a Good Idea to Sell Your Home Yourself (FSBO)?
Many people now are thinking of selling their home through a process called ‘For Sale By Owner’ (FSBO), where they do not involve a Realtor or other professional.
Let’s get the most obvious thing out the way first: I am a Real Estate Professional who specializes in selling homes. Yes, I will have some bias on this. However, this doesn’t mean that I think FSBO is always a bad idea.
In fact, there are several advantages of selling your home yourself, but there are disadvantages as well – and most people who dive into this are not aware of these.
So let’s examine this decision by looking at the pros and cons of both sides.
1. The most important PRO for selling your home yourself is MONEY.
Selling your home without the help of a professional means more money in your pocket! By selling it yourself you save the commissions and fees. These amounts really add up and can be thousands of dollars more for you. Obviously this makes FSBOing quite enticing.
Another advantage is that you are able to decide the times for open houses and showings. It is also completely up to you where and when you want to advertise. However, the counter to this is that, firstly, a good Real Estate professional should let you control this anyway and, secondly, your advertising is bound to be a lot worse than that of a professional. Check out our Top 5 Modern Home Advertising Techniques For Selling A Home and see how you’d score with these.
Unlike a real estate agent who is selling many houses, you can focus on YOUR house, because you are only selling your own house. It is obvious that you will have more interest in the sale than an agent..
1. One Mistake And All Those Savings Are Gone…
It’s easy when looking at this decision to get caught up in the amount you’re going to save in commissions. However, what people don’t consider is the costs if they make a bad decision along the way. If you make a mistake somewhere in the process, not only could it cost you thousands of dollars in legal costs (completely wiping out those savings) but it could cost you the sale.
2. Lack Of Expertise, Energy And Time
If selling a home was that easy, Realtors would not exist as a profession. Here’s the truth for you:
Badly selling a home is easy; correctly selling a home is difficult. Just like you could represent yourself in court badly to save money, or pay a lawyer to do it correctly.
Most people don’t know the difference between ‘bad’ selling of a home and ‘good’ selling, so they naturally assume it’s easy. This is true – it is easy to do anything badly!
However, there are good Realtors out there and I would say that the best Realtors will pay for themselves – our goal is always to get at least 5% more than what we think a house is worth so that we pay for ourselves.
Selling your home is not impossible, but it is a challenge. If this challenge excites you and if you are willing to learn then it is not impossible managing selling your home without the help of an agent. With some know-how and a lot of energy you can sell your house without the help of a real estate agent and save thousands.
So how to start? Well you’re luck in that we’ve already covered that for you – try our article: Steps To Selling Your Home
At the Home Sale System we specialize in using proven methods and techniques to get you the best price for your home. Get your free Home Sale Proposal in just 90 seconds at: http://www.HomeSaleSystem.com/Apply-Now