Are you a homeowner in Charlotte or Lake Norman? Do you want to know if you can save money when you sell your house on your own? And that is probably why you are on our website right now and reading this blog. Before you do that, it is for your benefit to read this article “Five Reasons You Shouldn’t For Sale By Owner (FSBO)”
To Save Money?
The main reason why For Sale By Owners (FSBOs) don’t use a real estate agent is because they believe they will save the commission that an agent will charge them. In today’s market in Lake Norman and Charlotte, some homeowners may consider trying to sell their home on their own for a while. If after a period of time with no activities or offer, then they seek the help of a real estate professionals. There are several reasons why this may not be a good idea. Here are the to 5 reasons:
Five Reasons You Shouldn’t For Sale By Owner (FSBO)
- Exposure To Prospective Buyers – Recent studies have shown that 94% of buyers search online for a home. That is in comparison to only 16% looking at print newspaper ads. Most real estate agents have an internet strategy to promote the sale of your home. In addition, agents network with other agents to promote their listings.
- Results Come From The Internet – Where did buyers find the homes they actually purchased? Having a strong internet strategy is crucial.
- 51% on the internet
- 34% from a Real Estate Agent
- 8% from a yard sign
- 1% from newspapers
- There Are Too Many People To Negotiate With – Many FSBOs do not have a firm knowledge of such contracts and might not understand exactly what they’re agreeing to or how to negotiate particular portions of the contract. There are so many people with whom you must be prepared to negotiate with.
- Inconvenience And Not Safe – are you prepared to get calls from strangers who want to see your home? Do you know if they have been pre-approved by their bank? How do you know if they are legitimate buyers and not a criminal? If you are at work, how would you let them in your house? You have to arrange for a convenient time for you to show your home? What if it was a real buyer who needs to see your house right now, but you can’t leave work?
- You Net More Money When Using An Agent – Many homeowners believe that they will save the real estate commission by selling on their own. Realize that the main reason buyers look at FSBOs is because they also believe they can save the real estate agent’s commission. The seller and buyer can’t both save the commission.
Studies have shown that the typical house sold by the homeowner sells for $185,000, while the typical house sold by an agent sells for $245,000. This doesn’t mean that an agent can get $60,000 more for your home, as studies have shown that people are more likely to FSBO in markets with lower price points. However, it does show that selling on your own might not make sense.
If you are thinking of selling, FSBOing may end up costing you money instead of saving you money. Contact us at 704-975-2429 to get FREE report “Things To Consider When Selling Your House:.