Why For Sale by Owner Doesn’t Really Work
“For Sale by Owner” (also sometimes referred to as FSBO) is just like it sounds—it means that the owner of a home is selling it themselves instead of using a real estate agent. This is usually done to avoid paying commission to a real estate agent, but unfortunately, there are a lot of drawbacks to this method.
In any real estate transaction, there’s a long list of things to consider, such as financing, inspections, taxes, insurance—the list goes on and on. A real estate agent has the expertise to help keep you safe, and can help with everything from avoiding scams to helping you negotiate a fair deal.
Here are a couple of big reasons why “For Sale by Owner” is something to avoid:
The logistics of buying/selling a home are complicated.
Dealing with a buyer’s agent, dealing with a buyer’s attorney, dealing with the buyers themselves, working with home inspections, appraiser, banks—the list is a long one. Everything has to happen in a certain order, and papers need to make it to the right people at the right time.
It can be a lot to manage, and even if you’ve gone through the process of buying and/or selling a home, it can still be confusing since every situation is a little different! Working with an experienced real estate agent who has the necessary knowledge and background can ensure things run as smoothly as possible and can help prevent expensive mistakes.
A real estate agent is best equipped to market your home.
A real estate agent will have the experience, knowledge, and most likely the support and network of their brokerage to help market and sell your home. A big part of this includes getting your home exposure online!
These days, most buyers conduct their home searches online and find the homes they end up buying online. Without this exposure that a real estate agent can offer you, you’re missing out on a huge audience (and potentially leaving money on the table!).