Why FSBO Isn’t the Way to Go When Selling Your Brooklyn Condo Or Home

Whether for Brooklyn condos or single-family homes, For Sale by Owner (FSBO) sales aren’t near as successful as those sold by real estate agents. In fact, by 2006, the average price for a FSBO home was at least $50,000 less than agent-run sales.

Why is that? Are real estate agents just naturally better at it? Although I’d love to say yes, the reality is that there are just some things FSBOs don’t know. Because they don’t know it, they make mistakes. Some of the most common are:

  1. Incorrect pricing – The market can only bear so much. By pricing their Brooklyn condos and homes too high, many FSBOs fail to sell. If your home isn’t selling, this may be the reason.
  1. Not understanding everything involved – Selling a home, whatever the type, takes a lot of time, energy, ability, effort and know-how. For instance, accessibility is especially important, and a lot of FSBOs can’t be available to show the property when a buyer wants to see it.
  1. Screening – You can waste a lot of time on unqualified buyers. You can also lose money by taking an offer that’s lower than it should be. Screening buyers can take a lot of time and effort, especially if you don’t have the experience to spot them.
  1. Financing questions – The prospective buyer wants to know their financing options. As a FSBO, you need to be able to answer financing questions and explain their options. To do this, you’ll need to build a network of financial experts.
  1. Knowing contracts – You need to be well versed in legal jargon, so you can handle contracts, agreements and disputes. Make sure everything – the negotiations and the agreements – is in writing.

These five points are just a few of the things you need to know to sell Brooklyn condos and single-family homes on your own. If you’re not prepared to do it all, hire an agent to do it all for you!

If you’re trying to sell your home or condo and need someone who knows the ropes, I can help. Call me Charles D’Alessandro of Fillmore Real Estate today at 718 253-9600 or email me at [email protected] for more information.

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2 Responses to “Why FSBO Isn’t the Way to Go When Selling Your Brooklyn Condo Or Home”

  1. David Pylyp says:

    Everyone is so concerned with Saving the most money! The Buyers are also fixated on that same amount, Other than showing their own home a FSBO does not add value to the Purchaser except to push their own property.

    The buyer will still need and experienced hand to shepherd them through Financing, Home Inspections, Clauses, contracts and Lawyers.


    Remember to always ask the important questions.

    David Pylyp
    Living in Toronto

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