30 Jan 2 Myths About FSBO
Do you need a Real Estate Agent to sell your house? Technically no, but do you really need a Hair Stylist to cut your hair or a Barista to make your coffee?
A Realtor’s job is to make your life easier and get you the best value on your home. Do you need a Real Estate Agent? You may not need that but you certainly deserve it! Life is stressful enough, there’s no need to take on unnecessary challenges. Selling a home by yourself or FSBO, For Sale By Owner, does have a few pros but there are also some myths. I’ll clear up the 2 most common myths about FSBO.
Check out my post “6 Pros and Cons of Selling a Home Yourself”
The 2 Main Myths
1. Complete and Total Control – While this isn’t false it’s a drastic overstatement. Even when working with a Realtor you are in control of the price of your home, when showings can happen, what repairs or concessions you will or won’t do, and what offer you’ll accept. You own your home and get the final decision in every aspect. If a Realtor every makes you feel like you don’t, you need to find a new Realtor. Our job is to guide, advise, and inform, not tell you what to do.
2. You’ll Save Money – This one is a crab shoot. While you won’t have to pay commission, pricing a home properly takes in-depth knowledge of market trends and the worth of specifics like location and recent updates.
Learn about the 2015 Spring Real Estate Market at my post “Interesting 2015 Spring Market Trend”
Not paying commission won’t help you if you underprice your home by a few $10,000. While it’s true that many Realtors offer free price opinions with no obligation this profit loss can still occur during negotiating. Experience allows Realtors to advise you what concessions are typical and reasonable in an offer so you don’t give too much or chase off a buyer. During a FSBO negotiation you would also run into low offers due to buyers having to account for their agents commission or offering on a FSBO to save money.
Read my post “3 Rounds in a Home Negotiation”
The crowning jewel in the “save money” debate is how much is your time worth? All marketing will be done by you as well as setting up showings, inspections, and appraisals. You’ll also have to read up on the laws you need to follow and how to fill out the legal paperwork required in a sale.
See my post “How Long Will it Take My Home to Sell?”
When is comes to selling your home I would suggest finding a Realtor. We are trained professional employed to make the Real Estate process as easy for you as possible. Please contact me with any question at 612-889-6496 or [email protected]