The 7 Risks of Selling For Sale by Owner

The 7 risks of selling For Sale by Owner (FSBO).

  1. Showing availability. How do sellers plan on managing showing requests? Buyers schedules don’t match up nicely for the convenience of the seller. Handling appointments through a showing management system allows buyers the allotted time to look at the home in a thoughtful manner. Showing agents can pre-screen prospective buyers before scheduling the showing. Sellers can be reassured that a licensed Realtor is entering their home with a qualified buyer.
  2. Covid-19 safety. We are still in the middle of a pandemic. Realtors are educated and trained on implementing Covid-19 protocols including limiting the showing to the buying decision makers versus an entourage of family and friends.
  3. Multiple offers. Selling a home today can typically involve multiple offers. Your Realtor can help make sense of best offer and terms, the various contingencies, and timelines.
  4. The wrong listing price. Pricing is the first and most critical factor. Even in a hot sellers market, If your home is not priced correctly you are not likely to sell for the highest possible price. While many homes are selling very quickly, not all are. Every market has some properties that are sitting for various reasons, which usually has to do with price, condition, or both. The seller is usually unrealistic in these scenarios and won’t adjust the price or address the condition in some way to generate buyers.
  5. Lack of online exposure. Putting up a handmade “for sale by owner” sign in the front lawn and expect that to do the job just won’t cut it. A web savvy Realtor will work a multitude of online marketing strategies, including social media to market a home.
  6. Buyers want your commission savings. Buyers understand you are not paying a Realtor to sell the home. These buyers tend to be bargain hunters and since the seller is not paying a commission will feel justified in offering less for the home.
  7. Closing costs. Sellers may not be aware of the closing costs associated with the selling side and the procedures to bring a sale to the closing table. A Realtor will have the experience to handle the closing procedures, and to smooth out any bumps during the final closing procedures.

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