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The pros and cons of a “For Sale by Owner”

The pros and cons of a “For Sale by Owner”

The advantages of an FSBO sale

Are you still deciding whether or not to sell your house without the help of a real estate agent? Here are the pros and cons of marking your house “for sale by owner:”

  • The FSBO route always gives you the final say on every move you make in the process. You control everything. From pricing your property to the setting of schedules, who to entertain, and more.

 

  • Today’s variety of digital resources is easy. Thanks to the internet and social media. Advertising a property for sale is easier even without the help of an agent.

 

  • Paying commission is not necessary when you did all the hard work yourself while selling your home. You won’t owe anyone. You can potentially pocket more money out of the sale, provided that the entire selling process goes smoothly. This is rarely the case when you try to do everything on your own. You gain in terms of dollars, however, you lose in terms of the amount of time and energy.

 

  • You will feel a huge sense of accomplishment when you succeed Being able to sell your home on your own is sure to be a rewarding experience. Not only do you get money for your property, but you can also pat yourself on the back for managing to do everything by yourself, too.

 

The disadvantages of selling FSBO

  • You will spend a lot of time and energy doing a lot more work from learning the entire process of selling a house, to fielding offers from interested buyers, negotiating, and handling all the necessary paperwork, selling your home will surely take a lot out of you. Are you ready for all the stress and sleepless nights? An experienced agent, on the other hand, knows the home selling process like the back of their hand. You can leave it to them to do all the heavy lifting.

 

  • You will lack the advantages of having an expert’s guidance. While you are surely capable of making these on your own on any given day. A trained professional will give you a big boost when making crucial decisions involving a high-value real estate property. Example! Not everyone with a pre-approval is really approved. Only an agent would know what to do.

 

  • You will miss out on better deals while you might think you are saving on commissions by going FSBO. Did you know you are actually more likely to lose money by missing out on better offers when you don’t work with an agent? With an agent’s assistance, homes sold at a median price of $265,000, according to the National Association of Realtors. Meanwhile, FSBO home sales only fetched $200,000 on average. That $60,000 difference equates to a potential loss of 25% of your property’s actual value when you sell without an agent. Imagine that with your higher-priced, highly desirable South Florida property.

 

  • You will be first in line to hear every criticism and complaint against your home. Are you ready to hear what other people have to say about the place you’ve called home for years? Without an agent to represent you during home viewings and negotiations, you’ll be taking all the hits when buyers scrutinize every nook and cranny of your home.

 

  • You are at the mercy of your emotions and impulses don’t underestimate how emotional the process of selling your house can get. The emotions involved in parting with your home, as well as the mounting stress throughout the process can sway your most important decisions in harmful ways.

 

  • You have to do a lot of negotiating real estate agents are expert negotiators. They are trained to handle the tension and pressure required to seek the best possible outcome for your sale. Are you prepared to take on this responsibility when you go FSBO?

 

  • Buyer’s agents may discourage their clients from choosing your listing.  Would you work for free? You might waste your time entertaining the wrong buyer while it’s hard enough to find a qualified buyer. When you sell FSBO, it’s even tougher to evaluate a buyer’s integrity and capability to pay when you do not have the knowledge, training, and resources that a real estate agent has.

 

  • You might compromise your safety Planning to host an open house and home viewings? If you don’t know how to screen the people you welcome into your home, you may be putting your safety on the line.

 

Lauren Hershey’s Smart Seller Program: The smart alternative to FSBO

 

The drawbacks of selling your property without an agent easily outweigh the benefits. All things considered, selling a house is more rewarding with the help of a trained and experienced real estate professional.

But if you really prefer to sell your house on your own, consider being a Smart Seller instead.

List your home with Miami real estate expert Lauren Hershey at no cost, and continue marketing your home with a boost from Lauren’s professional resources. If you find a buyer first, you don’t have to pay any commission. You can also cancel your listing anytime you want.

Get your home sale started on the right track. Use this home seller’s legal checklist to make sure every important detail is in order by the time you put your property back on the market.

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Learn more about your home selling strategies and options straight from Lauren Hershey herself. Call 708.539.9319 or send an email to laurenhersheyrealtor(at)gmail(dotted)com.

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