5 Reasons FSBO Should be a "No"
Louisiana Realtors • January 31, 2019
We have the ability and the resources to do a lot of things that may have been out of our comfort zone a few years ago. Videos on YouTube give you step-by-step instructions on everything from changing your oil to cooking to playing an instrument. However, no matter how ambitious you may be, or how clear the instructions are, there are still some things that are better left to the professionals. Obviously the more complex the endeavor, the more risk it brings. One thing you never want to risk is your home; this why opting to sell it yourself can often be a mistake. So, before you place that “For Sale by Owner” sign in your front yard, here are a few reasons to reconsider and trust this process to knowledgeable, professional REALTOR®.
Buyers Prefer Not to Interact the Homeowner
Home shoppers can be uncomfortable when dealing directly with a homeowner. It makes them feel as if they can’t speak their mind and voice opinions, restricting their home buying experience. This self-consciousness could lead to many prospects declining to make an offer.
Lack of Access to the MLS (Multiple Listing Service)
Most home buyers use the services of a REALTOR®, and REALTORS® have access to the multiple listing service, more commonly referred to as MLS When you sell your home yourself, as a non-agent, you won’t have access to this database; meaning it will be difficult to be found. This greatly reduces the number of eyes and opportunity to sell it.
Paperwork
Real estate transactions are complex, complicated business deals. From the initial offer to the closing table there are immense legalities and obligations. If you are unfamiliar with the process and terminology, this could cause signification issues.
Pricing & Negotiation
Knowlegeable and professional REALTORS® have experience in negotiating on their clients’ behalf, as well appropriately pricing homes. Several variables are considered when determining the right asking price, and this is one of the most important decisions in selling a home. Oftentimes when homeowners attempt to sell their home themselves, they get caught up in personal and emotional connections that can interfere with their judgement and decision making when it comes to the transaction.
Perception of Value
Homes that are for sale by an unrepresented seller, on average, sell for 33% less and spend more time on the market than homes that sold by a REALTOR®. There is a perception that these homes are “on sale”, not “for sale”.
If you are considering selling your home, it is important to trust the knowledge, experience, professionalism, and expertise of a REALTOR®.
Invest in your real estate career with professional development and continuing education opportunities as a member of the Louisiana Association of REALTORS®.
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NAR is pleased to share the latest consumer guide about contract contingencies and clauses that buyers and sellers may encounter in a real estate transaction. The guide defines common contingencies and clauses and helps consumers understand what happens if the terms aren’t fulfilled. As a reminder, all guides in this series are available for download—in both English and Spanish—on facts.realtor . Please allow up to two weeks for the Spanish version of the latest resource to be translated and uploaded. For ease of reference, below is a list of the most recent guides: NEW: Real Estate Contract Contingencies Understanding Condo Ownership How to Protect Against Real Estate Wire Fraud 5 Home Selling Tips for Privacy and Safety Do You Need Private Mortgage Insurance? What Is the VA Home Loan Guaranty? Thank you for your continued engagement with the “Consumer Guide” series and for sharing the resources with prospective clients to ensure they have the information they need to find success in their homebuying or selling journey. Remember that these guides are for informational purposes only and are not meant to enact or change any existing NAR policy. Be on the lookout for the next consumer guide, which focuses on working with a remodeling contractor.
