Sure it sounds like a great idea and you think you may save some money… but besides the time and stress that goes into taking on this frustrating task, there are other problems that come up when listing a home “For Sale By Owner” (FSBO).
1) Scams – Unfortunately raud is out there! As much as we would like to think it’s not and it can happen to anyone. From hackers to fraudulent paperwork, to foreign deposit checks and distribution of personal information and scammers that will do anything to earn extra cash.
2) Liability for the Seller – Getting caught in the middle of a tough situation because they either disclosed information about the house incorrectly, or didn’t disclose information at all. A seller can pay a lot of money due to the liability from information that was presented inaccurately. A licensed Realtor is an expert in selling homes and would know how to present the information accurately, plus a Realtor is able to cover it with E&O insurance if they were to make a mistake.
3) Paperwork – There is an a lot of paperwork that goes in to legally listing a home on the market. Inaccurate paperwork falls back to seller liability. A Real Estate Agent knows the ins and outs of of the correct paperwork for every transaction and can make the paperwork seamless.
4) Bad Deals Can Happen – When purchasing the seller pays their listing agent (typically 6% of the home sale price), which then is split between the listing agent and the buyer’s agent and because of this it is far more common for home buyers to use a Realtor when searching for a home. FSBO’s often list their home and then decline an offer because they would have to pay the buyer’s agent what the listing agent typically would pay out of their commission. How Many people do you know that buy real estate without? FSBO’s will commonly be stuck paying a commission anyway.
5) Lower Sales Price – Sure, a FSBO may save you money on the commission side of selling their home, but without the proper marketing, negotiations and sales techniques these homes typically have a lower sale price. Less marketing means less people through the door and less offers. Unrepresented sellers are not trained to negotiate and get the highest price.
6) Inspections Are A Headache – FSBO’s typically lose a lot of during negotiating the results of the home inspections. Realtors are are experienced in these negotiations and fight to get you more money. Without them you are losing money.
When you are ready to list your home with a Realtor, give us a call. You can continue to stick to your day-to-day life and allow the experts to take over and get your home SOLD.
MAKE AN APPOINTMENT WITH VENTURE ONE REALTY TODAY