6 Reasons For Sale By Owner Is Not Your Best Option

Many sellers are surprised when they add up the costs of selling a home. This leads many sellers to consider selling their own homes to reduce costs. Here are six reasons why going the For Sale By Owner route is not your best option.

1- The Sales Price Will Be Lower

According to the National Association of Realtors, For Sale By Owner Homes sell for much less than agent-assisted sales. The 2017 Profile of Home Buyers and Sellers showed that the median price for agent-assisted homes was $250,000 and the median sales price for FSBO homes was $190,000. This is a difference of $60,000. Even after paying for agent commissions and closing costs, the net profit of an agent-assisted home will be higher. 

2- FSBO’s Take Longer to Sell

Unless the homeowner knows who they are selling their home to, FSBO’s take longer to sell. This is ultimately due to the lack of marketing and therefore lack of showings that are associated with them.

3- Lack of Marketing Resources

Selling a home involves so much more than cleaning it up, taking pictures and listing it on the market. There is a lot of marketing that goes into selling a home. Real estate professionals have access to the MLS, they have the resources to advertise your house across multiple platforms. These factors help the house to sell in a timely manner for top dollar.

4- The Costs of Selling a Home Add Up

The resources to market and sell a home can really add up. Some costs include for sale signs, advertising costs, and marketing resources. The amount of time energy and money that it takes to market a home is overwhelming for most homeowners.

5-  FSBO’s Are Missing Representation

Selling your home without a real estate professional puts you in a vulnerable position. There is a much greater liability when selling a home yourself. The paperwork can be daunting and it would be much easier for someone to take advantage of a seller without professional representation. Any of these scenarios can cost homeowners thousands of dollars and lots of headaches.

6- Agents Don’t Get Emotionally Attached

Real estate professionals are able to sell the home without any emotional attachment. They have a professional perspective on the process and won’t make any irrational decisions that could cost you thousands.

Ultimately, it is well worth the investment to have a trusted real estate professional to guide you throughout the home selling process. They will earn you a higher sales price in less time and make sure you aren’t being taken advantage of. Trust your real estate professional and feel encouraged that you are getting your money’s worth from the commission you are paying.