“For Sale By Owner” Is Not The Best Way To Sell Your Home

For Sale By Owner or FSBO.  It sounds like a good idea.  Besides, you can sell your home – right?  You know your home better than anyone.  While that may be true, there are very few people that can actually sell their own home properly.

Here are a few reasons why a “for sale by owner” is not the best way to sell your home.

1.  As an FSBO you cannot list your home in the MLS. The Multiple Listing Service is a membership only site that only licensed real estate agents have access to.

2.  As an FSBO you will be locked out of most of the major home listing websites such as Realtor.com etc.

3.  You will be limited to placing a sign in your yard and placing your ad in the classifieds.  This will drastically limit your homes exposure to potential buyers.  You will be depending on a small classified ad or for an interested buyer to drive by.  The chances are very slim.

4.  Many real estate agents will not show a “for sale by owner” home because they generally do not get paid a commission for showing a buyer your home.  In other words, most realtors will not work for free.

5.  Most FSBO sellers overprice their home.  You probably have an emotional attachment to your home and feel that it is worth more than it really is.  Additionally, you will not have the experience of a licensed real estate agent who knows how to dig up the true market value numbers of homes that have recently been sold in your area.

6.  A buyer generally feels very uncomfortable talking with the owner of the home about the homes pros and cons of their home.  And if they do, they may not always believe how  accurately the information is being presented.  In addition, a buyer usually does not like negotiating the sale of the home with the owner.  Buyers prefer leaving the negotiations up to their realtor.  The realtor is a good buffer between the buyer and the seller and is the best way to come to an agreeable offer.

7.  FSBO sellers are more likely to get into legal trouble.  Most people are not well versed enough in real estate to know what does and does not have to be disclosed.  If a FSBO misses just one form or a legally mandated disclosure, they could face an expensive buyer lawsuit after the transaction closes.

Just how much risk are you willing to take?  It is just not worth saving a few pennies now only to find that you have to spend thousands more later to get yourself out of an improperly handled real estate transaction.

Ultimately it is up to you, but consider talking to a Realtor to discuss how much it will cost and let them explain their services and how they plan to market your home.

10 thoughts on ““For Sale By Owner” Is Not The Best Way To Sell Your Home

  1. Superb blog you have here but I was wondering
    if you knew of any user discussion forums that cover the same topics talked
    about here? I’d really like to be a part of community
    where I can get feed-back from other knowledgeable individuals
    that share the same interest. If you have any suggestions, please let me know.

  2. Having peruse this I believed it hhad been very informative.
    I appreciate you taking the time and effort to get this information together.
    I yyet again find myself personally spending way too much time
    both reading and commenting. But so what, it had
    been still worth the cost!

  3. Hi, I do think this is an excellent website. I stumbledupon it 😉 I am
    going to revisit once again since I book-marked it.

    Money and freedom is the greatest way to change, may you be rich
    and continue to help others.

  4. I’m really enjoying the design and layout of your blog.
    It’s a very easy on the eyes which makes it much more enjoyable for me to
    come here and visit more often. Did you hire out a designer to create your theme?
    Great work!

  5. I blog frequently and I seriously appreciate your content. Your article has truly peaked my interest. I am going to bookmark your website and keep checking for new information about once per week. I opted in for your RSS feed too.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s