The Pitfalls Of For Sale By Owner

Selling a house sounds easy. Take some pictures, get them on a for sale by owner website and watch the offers come in. The reality is, your home may sit on the market longer and you may price it below market value. These mistakes could cost you thousands of dollars.

Get an agent on your side when you decide to list your house. Agents and FSBO companies have different motivations. Your agent is working hard to sell your home for you and is only compensated once your home is sold. An FSBO website makes money when your home doesn’t sell and you pay for another month of listing.

Only your agent can help you determine a fair selling price based on comparable listings and sales in your neighborhood. This competitive market analysis can give you a realistic sales price. A home that is priced right will sell quickly in most situations. An FSBO site won’t offer specific information to determine how to price your home.

With an FSBO listing, you are responsible for scheduling and facilitating the open houses. It can be frustrating to watch potential buyers enter, then exit, your home in less than five minutes. They won’t stick around long enough to tell you honestly what’s keeping them from choosing your house. But an agent knows how to engage potential buyers in a meaningful dialogue that can reveal buyer concerns that might be keeping your home from selling.

Your agent also has the necessary paperwork for a buyer to make an offer. Selling you house is a transaction of many thousands of dollars. This is not the time to play agent and lawyer for yourself. Be smart when you list your home and use an agent.


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