Why Selling Your Own Home Is So Hard-Tips from Real Estate Expert Beverly J. Stewart
When it comes time to sell many homeowners think they can do all of the work themselves without an agent. The main reason they do this is to prevent having to pay a commission. But in the end, are they really saving anything?
A for sale by owner (FSBO) will always want to be there for all of the showings. This is because they have to be there to let them in. They have no way to screen potential buyers so they are, in essence, letting strangers roam through their house. This means that they have to be available all of the time, even if it is a last minute notice. If they aren't available, are at work, or on vacation they miss a buyer.
Buyers are reluctant to see these homes without representation. The owners always want to guide them through the home and this makes buyers nervous. Plus, buyers like to have a representative to ask questions to and get advice from.
FSBOs generally overprice their house at least a little because they aren't paying a commission. They do not have the up-to-date information on sales, the history of the neighborhood or the current market. They generally price based on emotional attachment and what they need or want to get for their home.
Many buyers are relocated by their companies or move to from another area. This means they have a buyer’s agent working for them in another state. These agents are looking at listed homes, and not FSBOs. These buyers do not have the time or desire to look for unlisted homes when there are so many listed ones available. FSBOs are missing out on this entire group of buyers.
Real estate professionals will probably not show these homes because the sellers are not willing to pay a commission. Even if they do agree to pay one, realtors know that they will end up doing almost all of the work since there isn't another agent involved.
A FSBO does not have the marketing resources available that realtors do. An agent listing a home allows every other agent in the nation to gain access to their listing, They are available to answer questions, fax, call and even show your home and negotiate everything from contract to closing.
To learn how to avoid becoming a FSBO, contact real estate expert Beverly J. Stewart at 317-514-9998.
