Why For Sale By Owner Isn’t A Good Idea (Part One)

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Are you frustrated, wondering why your For Sale By Owner home isn’t selling? Maybe you’re just now deciding that you want to list your property for sale, but you’re not sure if you want to incur those “painful commissions” associated with agency listings. It’s also possible you didn’t realize what a tremendous undertaking selling your property without the assistance of real estate professionals would be like.

Regardless of the situation you currently find yourself in, it’s always a better idea to utilize a seasoned real estate professional to help you not only simplify the process of selling your home, but to also generate the most realistic prices and buyers available.

Why isn’t For Sale By Owner a good choice when it comes to perhaps the largest sale you may ever be involved with?

The Top Ten Reasons FSBO Should Never Be Considered.

1. Buyers Tend To Be Skeptical Of FSBO Properties
Purchasing a house can be a stressful process, especially for first-time homeowners. Buyers need the confidence of knowing their purchase was “sold” to them by a name agent and broker. When the only image they can place on the price tag of their new purchase is the current owner’s face, not a well-known brand, many subconsciously lose value in the faith of the transaction.

2. Agents Understand The Importance Of Your Initial Listing
Everyone has heard that you never get a second chance to make a first impression. This advice has never been truer than when it comes to announcing your property to local buyers. Professional agents have the experience and knowledge to not only price your home properly, but to effectively market the listing in a creditable manner.

3. Realistic Pricing Is Key
Real estate agents are able to price your property accurately using a wide variety of data and information. You may feel your property is worth more than it really is simply based on emotional attachment. Remember, buyers don’t have the history of memories that you do regarding your home. They are considering your property based on various other criteria. Your agent knows and understands this, giving you the best opportunity to quickly sell your home.

4. Being Included In The MLS Is Vital
When buyers are looking for a property, their agents always turn to the main source first, the MLS (Multiple Listing Service). If you’re house isn’t found in the MLS your chances of receiving any exposure is extremely limited. Is it possible to have your FSBO property listed in this necessary service? Absolutely, but it will usually come at a premium. When you list your home with an agent you can rest assured your home will be found in the “Realtor’s Daily Must Read”, the MLS.

5. If You’re Not Found Online, You Won’t Be Found
In today’s world, the Internet is the primary source to solve anyone’s need, especially when it comes to searching for a new home. According to a recent study performed by the National Association of Realtors, a whopping 82% of homebuyers begin their search online. If you believe advertising your For Sale By Owner property on little known social platforms or your personal website is simple, you may be right, but it likely won’t generate the results you’re seeking.

When partnering with an agency to list your home, all promotion is included; after all, your real estate agent has the same goal you do—to sell your property! Agents are experts in marketing homes, with the knowledge and access to get your house listed where the exact target audience will see it. Professional photos, visibility on proper websites, frequent updates and a variety of creative promotional techniques are all in a day’s work for a motivated agent. Do you really want to spend your leisure time struggling against professionally represented properties in order to save on commission fees?

Additionally, listing your property alone will more than likely cause you to spend more money than you think! Curious? Check out Part Two and we will explain in full detail!

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