For Sale By Owner (FSBO – which is pronounced as “fizz-bow”) is the process where a home is directly sold by the owner to the buyer without working with a professional real estate agent. The benefit of FSBO is that it prevents the seller from paying the commission of the final agreed amount to the real estate agent. Although FSBO saves the homeowner some amount of money, it is dangerous and can result in a complication, which can prevent you from finding a buyer and selling your house fast. Therefore, to prevent this, you’re advised to hire a professional to handle your home sale for you. You still don’t want to hire a professional? Below are some of the reasons you should not “For Sale by Owner.”
One of the reasons you should not for sale by owner is to find a buyer for your property as soon as possible. According to a recent research carried out, it was discovered that more than 90% of homebuyers search for homes online while on 18% of the buyers search for homes on print newspaper ads. Therefore, for you to secure a buyer for your home as soon as possible, you are advised to hire a professional real estate agent to promote your home for you. This is because most real estate agents are professionals and would know strategies to use to attract buyers.
Most homeowners believe that they will save real estate commission if they sell on their own. According to research, a typical home sold by a real estate agent brings in more profit than the one sold by the homeowner. Apart from selling less, the stress undergone during document preparation will be more than hiring a professional. Therefore, this shows that selling your property on your own might not make sense. So, you are advised to work with a real estate agent if you wish to sell your property and make more income.
Another problem homeowners who want to sell their property without working with professionals do face is financing problem. Real Estate agents are professionals and experienced; therefore, they will know how to get financing and what to do to make it creative. But if you wish to sell your property yourself, you may run into problems . Therefore, to prevent running into problems like this, you should contact your real estate agent immediately.
Since you are not a professional in the area, negotiating and replying client would be awkward and very tricky. Even if you are an experience sale representative, you are still a novice in negotiating a home sale. Since the buyer’s agent knows every trick of negotiating a homesale, he/she has a better chance of winning the negotiation. But if you hire a real estate agent, he has negotiated many home sale; therefore, he will know how to negotiate with prospective buyers.
Although, most homeowners believed that selling their homes without hiring a real estate agent will save them money. However, reading the point listed above, I believe you now see it’s very dangerous and can lead to complications. So if you wish to sell your home, you are advised to hire a professional real estate agent.