Sometimes homeowners think it will be easier if they sell their own home. This way they can deal with buyers directly and have total control of the process. However, there are several reasons FSBO is unwise.
Unless you’re a realtor yourself, you could run into issues that fall outside your expertise. How well do you know the history of your home? Do you know what kind of people have lived in it in the past? These questions sound scary, but the truth is, you could be sued over something as simple as undisclosed history. Realtors have insurance to cover legal fees, just in case someone discovers something about your home you were unaware of. Another risk you face with FSBO is limited access to listing websites that realtors do have access to. If you do FSBO, you could be waiting a while for your home to sell simply because not enough people know your home is for sale.
It’s not cost-effective.
One of the most common problems with FSBO is that most homeowners don’t know what their home is actually worth. Factors like location, unseen structural issues, and unfinished details determine your home’s value. Realtors don’t have the emotional connection to your home that you do, so they can price objectively. They also know what the current market value and trends in your area are. They can help you get the most for your home while still keeping the price fair. After all, you don’t want to scare off prospective buyers just because you priced too high. But you also don’t want to set the price too low either!
It’s more work.
Selling a home involves a lot of paperwork, legal hoops, and conversations with prospective buyers. And this is all in addition to prepping your home to sell! Simply cleaning your home isn’t enough. Realtors are professionals at staging and marketing homes. So if you want your home to attract buyers and sell fast, get a realtor to help you sell your home.