Today I’m going to discuss why a person might list their house as For Sale By Owner (FSBO) and three reasons why you shouldn’t be listing your home without the help of an agent.
1. Buyers shopping for FSBO homes are looking for a deal. Why would a buyer ignore 95% of all other listings to look at a property that isn’t represented by an agent? The reason is that they’re going to ask for a discount. They’ll probably ask pretty quickly in the transaction if you’ll take off the 6% that would normally go toward commission.
2. It’s difficult to distinguish the lookers from the buyers. A lot of the people who come in to buy homes have frozen equity and have to sell a home before they can qualify for another property. A FSBO owner probably wouldn’t know to ask about that, meaning that they wouldn’t be sure whether a buyer’s offer is legitimate or not.
3. You’re emotionally involved with the property. This interferes with properly negotiating terms, price, and conditions on the contract. Negotiating on your own property is like a doctor operating on a family member; there’s a reason why they don’t do that.
Before you sell your home, you should consider working with a real estate broker. If you’re thinking about selling in the near future, feel free to reach out to me. We can have a discussion about which is the better option for you.