What is the number one FSBO tip? You should never sell it yourself! When it comes to FSBO, or for sale by owner, it can sell fast and for as much as it would have if listed with a real estate agent. Sometimes ? but not normally. Here are ten tips you should consider.
Buyers work with agents. Most look at MLS listings. Selling it yourself would mean that they won?t see or hear about your home. How do you find that ?right? buyer or get top dollar when you?re invisible to most of the market?
Your FSBO will get lower offers. Because you are saving the commission, it is natural for the buyer to think that you?ll take less. If you save $10,000 commission and get $10,000 less, then where is the advantage in that?
Advertising is expensive. The costs the real estate office normally pays are yours if you sell it yourself. If it takes a year to sell, then how much could you spend on ads? What they have are resources. The bad news is that you don?t. Agents have books of sold properties to look at, for example, to determine the best price for your home. What you can do is dig through county records but you do have to value your time too, right?
They are familiar with the market. What exactly is the target market for your house? Is it for young couples or retirees? What are the features that they want? Before you write your ads, you should know these things first. An experienced real estate salesperson will know.
They also know the laws. Who pays for the real estate transfer tax and what exactly are written disclosures? When you sell it yourself you don?t get to ignore the laws.
Perhaps you consider yourself a good salesperson. Can you develop rapport and properly answer objections? Perhaps your defensiveness can scare off a buyer who criticizes your home. Think back on your own purchases, and you?ll realize that a good salesperson makes a difference.
When it comes to paperwork. Will you help the buyer properly fill out an offer to purchase? An agent would. What about the other closing documents, do you have them ready?
Agents will do the negotiations for you. Do you remember the last time you learned a new negotiating technique? Can you counter-offer without scaring off a buyer? A good salesperson is trained in these skills.
It is likely that you may not save anything. The documents, newspaper advertising, signs for the yard ? it?s all your expense when you sell it yourself. After your hard work, you may get low offers and negotiate poorly. In fact, when sellers try to save commission, then they would often net less money from the sale.
Most ?FSBO? sellers eventually turn to a real estate agent for help. But do you think it?s worth it to spend all that time and maybe not even save any money even though you could learn the things that an agent does? You should not sell it yourself unless you really know what you are doing. That?s the number one FSBO tip.
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Source: http://thefinancialmarketwatch.com/2012/02/20/why-you-should-forget-about-fsbo/
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