For Sale By Owner. Is It Really Worth It?

For Sale By Owner. We've all heard the phrase, otherwise known as a FSBO. Is it really that easy to sell a home on your own? Here are four reasons it really doesn't save a seller time and money to sell without an agent.

1. Do you really have the time and energy to devote to the sale? You may think you have the time, and maybe you do. But do you know what an agent does before showing a house?  The marketing, recommending repairs, preparing the house with staging and decluttering, the price determination using current market statistics, etc. Will you be able to market your home properly? Most sellers have no idea how much effort goes into creating a unique digital presentation, including video, social media platforms and more. Homebuyers will almost always have seen every aspect of a home online before visiting in person. REALTORS® have professional and expensive tech tools that are vital in today’s residential real estate landscape. Even a computer-savvy homeowner can’t necessarily create the type and amount of marketing an agent can. 

2. What about after the house is listed?  Agents are experts at scheduling clients, hosting open houses and, most importantly, listing the house with an MLS while likely already having clients looking for a house to buy. Networking with other agents is also something a homeowner cannot do. Understanding and knowing how to respond to questions from potential buyers is a skill in itself, as you as a homeseller need to know what information must be divulged as well as what to keep to yourself in order not to tip your hand.

3. Will you always be available to show the property? One of the things homeowners pay for through an agent’s commission is convenience. Potential buyers may want to see a house days, nights or weekends. Agents usually make themselves available 24/7, sometimes multiple times a day if needed. Add in all the phone calls, emails and texts and suddenly it’s not quite as easy or timefree to sell a house. Then there’s the negotiating. It can get tense going back and forth between a buyer and seller. An agent knows how to keep things going without letting emotions get in the way.

4. Will you need to get involved with procedures and contracts? While lawyers do much in terms of contracts and deed work, it's the agent who keeps track of many of the important details regarding the mortgage, selling timeline, appraisal, home inspection, other inspections such as smoke detectors and septic systems, referrals for all kinds of services, etc.  An agent will provide guidance and direction throughout the entire transaction.  Having the agent in the middle can lessen the stress, and almost always results in a higher sale price!