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Why You Shouldn’t Sell ‘For Sale By Owner’

Why You Shouldn’t Sell ‘For Sale By Owner’

All of us have, at some point in our life, tried to tackle a task on our own that was best left to the experts. 

Selling something as big as a house requires a lot more dedication, market knowledge, and skills. While some have succeeded, the charts show a decline in FSBO. 

The Increasing FSBO Decline Rate

So what’s causing this decline? Here are some reasons why FSBO is declining. 

1.      Time

When you embark on this journey, you should be prepared to sacrifice a lot of your time, from staging to taking perfect photos of your property to promoting it on social media. You’ll also spend your time showing your property and entertaining door-kickers.

For 5% of the people selling a home by themselves in the planned duration is a tough job. The hassle is a major reason why people are now straying away from the idea of FSBO.

2.     Cost 

When you’re selling your home by owner, you think you’re saving some bucks; however, it’s the complete opposite. You’re spending more money upfront without the guarantee of return.

Listing agents spend a calculated amount of money and do not charge you anything upfront. If the property does not sell, the cost upfront is on the agents, not on you. 

3.     Marketing 

You might be ready to post your house on Facebook and Craigslist, but you don’t have the ultimate home-selling tools that realtors and experts can bring in. These can be accessed by licensed agents and is the way you can get your house listed on sites like Realtor, Zillow, and Trulia. Around 17% of the people believe fixing up the home for FSBO selling is tough, which is where experts can come into play. 

4.     Liability

When you manage things on your own with limited experience, you run the risk of making mistakes that might end up costing you a lot of money. To protect themselves from such expenses, professional realtors acquire insurance. To avoid losses, one should gravitate more towards experts rather than taking it as a DIY project.

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