8 Reasons Why For Sale by Owner is a Dangerous Prospect

Homeowners are sometimes tempted by the prospect of selling their own home without the help of an agent. Outdated rumors and misinformation have been widely spread about for sale by owner (FSBO) home listings. Unfortunately, in many cases, this misstep can cost a seller in more ways than they may realize. 

  1. Your Time is Valuable- This is a given, but do you really understand all of the time it takes to list a property, market it, manage showings, handle offers, successfully counteroffer, deal with inspections, handle the mountain of paperwork, and countless other tasks that a sale involves? These tasks take experts a fraction of the time to complete versus the time commitment it would cost a non-agent.
  2. An Easy Target- We hear stories every day where owners list their homes for sale on their own and then they’re taken advantage of. Whether it’s a price gouging scenario, undervaluing a property, a legitimate scam, or someone choosing to engage in shady practices. It’s smart to have the name, expertise, and reputation of a professional agent when selling. A FSBO home is an easy target in a variety of ways.  
  3. Resources- Our office has a full-time staff to handle every part of your listing. We have photographers, web designers, marketing gurus, and someone on call constantly for our clients. These resources are a small part of the whole picture, but they’re something a FSBO home doesn’t have.
  4. Out of Pocket Expenses- Whether you’ve undervalued your home compared to comps or don’t have the right resources, for sale by owner can cost you big. FSBO homes traditionally take much longer on the market, which can mean many more months of paying a mortgage and living expenses for an owner. Overall, the out of pocket expenses for FSBO homes are much higher for sellers. 
  5. Marketing- A professional has the ability to share your listing in a huge variety of places, MLS sites, large social media platforms, in direct email marketing, and with a tight knit network of other agents. Marketing your listing involves a ton more than posting to a website and putting a sign in the front yard. The marketing that a professional can provide is a wonderful benefit of selling with an agent. 
  6. Listing Price- An online home valuation can be a wonderful tool, but it can only go so far. Much of the time, an experienced agent can help you to list your home for much more than you may think it’s worth. This, along with the ability to manage manage multiple-offer situations could net you much more for the sale of your home. 
  7. Expertise at Every Turn- We have been doing this for years. We are able to spot bad situations, and know this market inside and out. We are able to fight for you when the situation demands it and are an extra set of hands on your team. Our expertise doesn’t end with our agents. Every member of our team is an expert in what they do. They know exactly what it takes to sell homes in our area. This means so much for you as a seller. 
  8. Scams and Legal Problems- Real estate laws are ever changing and can be a lot for the average homeowner to manage. If you don’t know the laws and best practices, it can be easy for you to end up taken advantage of. Scammers target FSBO homeowners every day in a variety of ways. Working with an agent can protect you from these situations. 

Photo by Kindel Media via Pexels.com. 

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