In today’s buyers market homes are selling quickly and prices keep going up. This could encourage homeowners to try their hand at selling their home themselves without the experience of a great real estate agent. This is called FSBOing (For Sale by Owner) in the real estate industry. As tempting as FSBOing may sound, there are several good reasons why you should say no to FSBOing. Here are the top 5:
You must have negotiating skills
Negotiating is part of the home buying/selling process, and you must negotiate with lots of people. Are you good at it? Do you enjoy negotiating? Do you know how to negotiate? If you decide to FSBO, you must be prepared to negotiate with the people mentioned in this list:
- The buyer
- The buyer’s agent
- The buyer’s attorney
- The home inspector
- The appraiser
FSBOing inhibits your home from being seen by prospective buyers
A whopping 89% of buyers search the internet when looking for a home. Only 20% look at print advertising. Most real estate agents have experience using the internet to promote the sale of your home and they do it well. Do you know how to market your home for sale online?
Statistics show how crucial a strong internet strategy is
Buyers find their homes online. Look at these numbers:
- 44% of buyers found their home on the internet
- 33% worked with a real estate agent to help them find their home
- 9% bought their home from a yard sign
- 1% bought their home from the newspaper
It’s pretty clear that buyers find the home they actually purchased online. The days of putting a sign up and putting it in the paper are over.
FSBOing is more difficult than it used to be
There’s a lot more paperwork involved in selling and buying a home than there used to be. Industry disclosures and regulations have become mandatory. This increase in paperwork is one of the reasons that people don’t choose FSBOing. The statistics have gone from 19% down to 8% since 1981.
You’ll end up with more money from the sale of your home if you use a real estate agent
Homeowners choose to FSBO because they believe they will save the real estate agent’s commission. Guess what? The main reason buyers look at FSBOs is because they believe they will save the real estate agent’s commission. But the seller and buyer cannot both save the 6% commission.
Studies have shown that the typical FSBO sells for $210,000. They also show the typical house sold by a real estate agent sells for $249,000. This doesn’t mean that a real estate agent gets $39,000 more when your home sells. Studies do show that FSBO’ing might not make the best sense.
You may be determined to go it alone and think FSBO’ing is still your best choice. Before skipping to work with a real estate agent, think hard about the time and effort you really want to spend trying to sell your home. It’s possible the process could drag on.
A real estate agent’s job is to help you set the right price and get buyers in the door. They have access to and stay abreast of up-to-date and current information about recent sales of comparable homes and the competing listings in your neighborhood.
Sit down with your Brooklyn real estate professional, Charles D’Alessandro and see what he has to offer. He will market your home aggressively, recommend what it will take to make your home look great and maximize your listing with quality photographs. He will “weed out” the serious prospects from the not-so-serious- prospects so you deal only with those who are serious, too.
And once you’ve found a buyer, he will negotiate, take care of paperwork and walk you through every step of the extensive home processes.
Just say no to the time-consuming drama and headaches of FSBOing. Contact Charles D’Alessandro. With over 30 years of experience marketing Brooklyn homes, Charles has the expert marketing skills needed to sell your home. Call Charles D’Alessandro, your Brooklyn real estate agent with Fillmore Real Estate at (718) 253-9600 ext. 206 or email [email protected] today.