Selling your home on your own as a “For Sale by Owner” (FSBO) can be tempting. With real estate commissions amounting to as much as 7% of the sales price, many owners consider selling their homes on their own to save money.
Selling as a FSBO is more complicated than it might seem, but if you can avoid the most common mistakes (noted below), you will have a better chance at a good outcome.
• Not Pricing the Home Properly – Doing market research on your own is tough. Too often a FSBO is not priced correctly.
• Not Advertising Properly – Marketing a home is more than an ad in the local newspaper. FSBO sellers can utilize online tools, like this Home Valuation site, just like the agents.
• Saying Too Much To Buyers – Homeowners are rightly proud of their homes, but telling buyers everything they know about the home, good or bad, can turn off a potential buyer.
• Not Disclosing Problems or Defects – Just because the home is being sold by the seller, it doesn’t mean they are not subject to the laws governing seller disclosures.
• Not Negotiating Terms – Not only the price but the terms are negotiable.
Selling a home without an agent can go well, but it’s very risky. Without doing the proper research ahead of time to know what to expect, it might end up costing more in the long run.
You can save yourself the headache and mistakes by hiring an agent. Contact me and I’ll help you get the best price for your home!