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SO YOU WANT TO FSBO?  WHAT’S A FSBO (pronounced Fizzbo)? REASONS WHY YOU SHOULD NOT TRY FOR SALE BY OWNER

Fsbo is the real estate lingo for For Sale By Owner.

Homeowners who try to sell their home on their own should know this may not be a good idea.

Studies Show You NET More Money with a Realtor.

Homeowners believe that they will save the real estate commission by selling on their own.  The Buyer knows that the Seller is trying to save money by FSBOing thus the Buyer off the bat offers an additional 3% less off the sales price.  Statistics show a medium home sold by owner sells for $218K while a home SOLD by a Realtor sells for $246K.  Listing with a Realtor may not get you $28K more for your home, however, it does show that selling on your own can cost you more Dollars.

 

FSBOing is More Difficult than ever Before to Sell Your Home

It is amazing how much paper work is involved to close a transaction in the real estate industry.  When I first started selling it was 2 pages now it’s 20-25 pages to close a deal.  The reason is because of Agency, Disclaimers, and Disclosures, which have become mandatory in most states through out the country.  The number of FSBOs has decreased approximately 10% over the last 15+ years.

 

Exposure to Find Buyer’s on the Internet

Buyers search the internet more than ever to find a home.  A few years ago it was 70% of Buyer’s search the internet to find information now it is more likely 90%.  What kind of strategy would a FSBO have to find a Buyer on the internet?  Not much.  Some platforms on the internet do not allow FSBOs to be advertised.  A strong internet marketing plan is important.

 

It’s Not Just the Realtor You Have to Negotiate With

The Buyer’s Agent, the one who negotiates from beginning to closing wants to receive a fee.  The Title Company wants a fee including the Attorney not to mention title search problems that may arise.  How about the Appraiser, who is scrutinized more than ever for their work by the government and banks.  Home Inspector who works for the Buyer’s always finds something wrong with the home.

 

Remember Friends don’t let Friends try it on their own hire a Professional Realtor. Call, email, or text Jennifer and Frank Goswitz, The Goswitz Team at 865-806-3238 or 865-218-1159