To FSBO or Not To FSBO, That is the Question
People who have a property to sell sometimes decide they want to sell it themselves and save that Realtor commission. Whether or not handling a FSBO (For Sale By Owner) is a good move for you depends on several factors. Here are some points to consider.
Do you have a realistic expectation regarding sale price? Almost always sellers think their home is worth more than it really is. It’s understandable, they have their heart invested in the property. But, in the end, it comes down to what an appraiser says it’s worth and that is based on recent sales of nearby similar properties. Improvements (or lack thereof) make a big difference. An appraiser uses much of the same data a Realtor uses to come up with a property valuation. And, a bank won’t lend on more than the appraised value. If a FSBO property is priced too high, it will not sell very quickly, if at all.
If the property is occupied by the seller, are you ready to answer the door to strangers 24/7? It seems easy to put a sign in the yard but keep in mind that dealing with the general public can be anything but easy. They will knock or call whenever they want. Then there is the danger factor of allowing strangers into your home. Realtors pre-screen the people they bring to your home and they accompany their clients, so you don’t have to deal with them alone.
If the property is not occupied by the seller, are you going to schedule all the showings? It will become your full time job to field inquiries and schedule showings.
Do you have experience negotiating? One of the great aspects of using a Realtor is that he or she plays the role of middle man, conveying the interests and concerns of each party, and working towards an equitable solution for all.
Do you have experience marketing? It takes more than a sign in the yard to sell a house. You have to hold Open Houses and you have to advertise. To that end, you can’t beat the exposure you get when a Realtor puts your listing in the MLS. With over 12,000 Realtors in the Orlando area, chances are good that SOMEONE is looking for a house just like yours.
What will you do if something goes wrong? Things happen, they just do. The longer I’m in real estate, the more strange situations I hear about. An experienced Realtor, with the backing of a great Brokerage, can navigate pretty much any sticky situation. From unexpected horrors surfacing at inspection to unexpected deaths of participants in the contract to financing falling through in the last minute, we’ve seen it all!
If you have some experience in real estate, perhaps you could handle a FSBO. For the rest of you, please consider calling me at 407-236-6559 for a free, no obligation consultation. I’ll show you how I can make the process super easy for you and sell your property quickly for top dollar. In the end, the peace of mind you’ll enjoy will make my commission well worth it. At the very least, allow me to write up the contract for a small fee and ensure you have all the necessary paperwork to cover yourself legally.