![House for sale by owner sign](https://www.propertylistingsnorthwest.com/wp-content/uploads/2017/10/FSBO_1.jpeg)
By now, you’re aware of the benefits of working with a real estate professional. However, rising home prices coupled with the current inventory in today’s market may cause some homeowners to consider selling their home on their own (known in the industry as a For Sale By Owner). Believe it or not, an FSBO, as it’s candidly called, might not actually be a good idea for most sellers.
![](https://www.propertylistingsnorthwest.com/wp-content/uploads/2017/10/FSBO2.png)
Here are the top five reasons not to FSBO:
1. Online Strategy for Prospective Purchasers
Studies have shown that 93% of buyers search online for a home. That’s a pretty staggering number! Most real estate agents have an Internet strategy to promote the sale of your home. Do you?
2. Results Come from the Internet
Where did buyers find the homes they actually purchased?
- 52% on the Internet
- 29% from a Real Estate Agent
- 10% Other
- 6% from a Yard Sign
- 3% from Newspapers
The days of selling your house by putting up a sign in your yard or placing an ad in the paper are long gone. Having a strong Internet strategy is crucial.
3. There Are too Many People to Negotiate With
Here’s a list of some of the people with whom you must be prepared to negotiate if you FSBO:
- The buyer, who wants the best deal possible
- The buyer’s agent, who solely represents the best interest of the buyer
- The buyer’s attorney (in some parts of the country)
- The home inspection companies, which work for the buyer and will almost always find some problems with the house
- The appraiser, if there is a question of value
4. It Has Become Increasingly Difficult to FSBO
The paperwork involved in buying or selling a home has increased dramatically as more industry disclosures and regulations have become mandatory. This is one of the reasons the percentage of people FSBOing has dropped from 19% to 8% over the last 20+ years.
5. You Net More Money When Using an Agent
Many homeowners believe they’ll save the real estate commission by selling on their own, but the seller and buyer can’t both save the commission.
A report by Zillow revealed that FSBOs are inclined to do so because they believe it will save money (46% cite this among their top three reasons), but they don’t actually save anything, and eventually end up listing with an agent.
The same report revealed that:
“While 36% of sellers that (at first) attempted to sell their homes on their own, only 11 per cent of sellers—in other words, less than a third…actually sold without an agent.”
It appears working with a real estate professional is the best answer.
Bottom Line
Before you decide to take on the challenges of selling your house on your own, let’s get together to discuss your needs.
![](https://www.propertylistingsnorthwest.com/wp-content/uploads/2017/10/FSBO1.jpg)