Real Estate
Report:
Why Selling FSBO Can
Be
So Unbelievably Difficult!
By Lynn Byrne
There
are a few reasons why homeowners try to sell their home themselves, but the
main reason is to save money. If you
successfully sell your home yourself, you can pocket several thousand dollars
that you would otherwise pay to a real estate agent. And selling a home is
easy, right? Wrong!
Do you really know how to market your home and get
buyers through the door?
FSBOs tell us the biggest problem they have is their homes
suffer from a lack of exposure. Most of them paid several hundred
dollars for a weekend classified ad in the daily paper. They also bought a “For
Sale By Owner” yard sign. But unless the market was sizzling, few got any
buyers through the door. Why?
The fact is, most legitimate buyers work with real estate
agents! And real estate agents research the Multiple Listings Service to
find homes for the buyers. Unless you are using a real estate agent, you’re not
in the Multiple Listing Service. This exposure alone is worth a lot of money.
The other problem FSBOs have is the buyers who are not
working with real estate agents are usually not the serious buyers.
People who are ready to buy use agents because they don’t have to pay their
agent a fee, and agents have the resources buyers need to get good homes at
good prices. Unfortunately, most of the buyers that are left over are merely
“tire kickers” and “low-ballers”. Sure, you may get a few people through the
door, but most of them will walk in and out without any serious interest. Those
who do might give you offending offers.
Most importantly, most real estate transactions are
broker-to-broker (between buyer and seller agents). Frankly, most buyer agents
do not like to bring their buyers through your door because they’re not going
to get paid! So you’ve eliminated over 90% of the qualified buyers who are
seriously looking to buy.
On top of the lack of exposure, do you even have the time
to commit to this?
One of
the keys to selling your home effectively is accessibility. Most likely you
work full time. If you’re not around to show the house, you are going to have a
very difficult time. Real estate agents spend a lot of their time at their
listings . . . this is what they do for a living! If you’re not
around, you are not going to sell your home.
Are you versed on the legal paperwork? You are exposed to
a lot of liability!
Are you completely informed about the legal aspects of
selling your home? Are you fully confident you are using all of the necessary
(and correct) forms? Not only that, is your disclosure 100% accurate? Are you
capable of handling the legal contracts? Any errors or omissions in these
contracts can result in legal problems! If you’re not 100% confident, it’s wise
to hire a professional real estate agent.
I hope this informational report was informative. As your
local real estate professional, I am available to answer any of your questions
about selling your home or helping you find the “right” home. You can call me
at any time for advice, and please remember that you are no obligation or
pressure of any kind. I would very much like to help you.
Best Regards,
Lynn Byrne
CenterPointe Realty
www.lynnbyrne.com
386-566-7503
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