Here’s what you should be thinking about before deciding to sell FSBO.
Are you thinking about selling your home without the help of a real estate agent? With such a hot, hectic market, many homeowners are considering the option. Today I’ll give you the pros and cons of selling your own home to help you make the decision that’s best for your family.
For most sellers, saving on real estate commission fees is the biggest appeal of selling their own homes. Before you make a final decision based on money alone, make sure you have a good grasp of the process and the amount of work and risk involved.
Even if you don’t have to pay a listing agent, you may still have to pay the buyer’s agent their commission. If you aren’t willing to pay them and the buyer takes care of it, the buyer now has representation in the transaction, and you don’t. That gives them a leg up in negotiations unless you’re a professional agent yourself.
“The home-selling process hasn’t gotten any less complicated.”
Even though homes are selling quickly these days, it doesn’t make the home-selling process any easier. You have to navigate through multiple offers, weigh terms, and more. Otherwise, you’ll want to determine a competitive price, hire a professional photographer, stage the home, market the home, and schedule showings. Once you’ve received offers, you’ll need to review and negotiate them, manage the contracts and due dates, and make it to the closing table.
Yes, you will save money on Realtor commissions by selling your own home, but research suggests that FSBO homes sell for 5% to 7% less than ones sold with a traditional real estate agent. In the end, you’re not really saving money, and you’re spending a lot of time on something that won’t bring you a positive ROI.
If you have any questions about selling your own home or real estate in general, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.
