Rising home prices coupled with the current inventory in today’s market may cause some homeowners to consider selling their homes on their own (aka For Sale By Owner). However, a FSBO might be hard to execute well for most home sellers.
1. Online Strategy for Prospective Purchasers
Studies have shown that 93% of buyers search online for a home. That’s a pretty staggering number! Most realtors have a marketing strategy to promote the sale of your home. Do you?
2. Results Come from the Internet
According to the National Association of Realtors, here’s where buyers found the homes they actually purchased:
The days of selling your house by putting up a sign in your yard or placing an ad in the paper are long gone. Having a strong Internet strategy is crucial.
3. There Are Too Many People to Negotiate With
Here’s a list of some of the people with whom you must be prepared to negotiate if you decide to FSBO:
4. FSBOing Has Become Increasingly Difficult
The contract paperwork involved in buying or selling a home has increased dramatically as industry disclosures and regulations have become mandatory. This is one of the reasons the percentage of people FSBOing has dropped from 19% to 8% over the last 20+ years.
5. You Net More Money When Using an Agent
Many homeowners believe they’ll save the real estate commission by selling on their own, but the seller and buyer can’t both save the commission.
A report by Zillow revealed that FSBOs are inclined to do so because they believe it will save money (46 percent cite this among their top three reasons), but they don’t actually save anything, and eventually end up listing with an agent.
The same report revealed that,
It appears working with a real estate professional is the best answer.
Before you decide to take on the challenges of selling your house on your own, please get in touch with me. I help people sell homes across the Washington DC metro area. 703-963-0142 or firstname.lastname@example.org