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Disadvantages of Selling: For Sale By Owner

FSBO Sign in a lot of weeds
  • FSBO (pronounced Fizz-boh) is short for For Sale By Owner which means the home owner is hoping to sell his property without the expertise of a licensed real estate agent. The main reason home owners want to try this option is money. The thought of saving the money to hire a Realtor may be appealing, however, there are many disadvantages to doing this.

  • FSBO sellers may have an unrealistic value on the property. Many FSBO sellers may not know how to properly price their property due to lack of knowledge of the current market and placing too high of a value on the sentimental value of the property.
  • Advertising cost can be expensive. For the typical FSBO seller, they may have to spend hundreds of dollars on print and internet sites that may or may not pan out. By listing with a Realtor, your will be listed on the MLS and will be noticed by hundreds of other real estate professionals.
  • Showing the property. Home buyers will shop for a home during various times of the day. These times don't always coincide with a sellers work schedule. This means by selling your house FSBO, could mean lost wages when you have to run out of work and show your house every time someone wants to look at it. If you don't show the property when buyers want to look, you may have lost a potential sale with those buyers.
  • Qualified buyers. Typically FSBO sellers do not know how to properly qualify a buyer. Many sellers end up wasting a lot of time and energy working with buyers who are just "window shopping" or may not be qualified to even purchase a home. When you list with a Realtor, you are presenting your home to hundreds of agents already with qualified buyers ready to purchase a home. That home might be yours!
  • The final paperwork. FSBO sellers don't always know how to navigate the paperwork to sell a property or the laws they need to follow. This can all be avoided and "hassle free" had the seller contacted a Realtor in the beginning.
  • Call The Millers Today And Let Us Help You Sell!

  • Written by The Millers with Berkshire Hathaway HomeServices Ambassador. Copyright 2012. If you would like link to this article on your site or blog, please contact us here.