In today’s seller’s market, it may be tempting to sell your home on your own, aka “For Sale By Owner,” or “FSBO.” But, just because you have the upper hand doesn’t mean the selling process will be easy. That’s why it’s important to have a knowledgeable agent on your side to help negotiate prices, explain documents, and analyze the current market so you can get the best deal.
Here are five ways that going FSBO could seriously hinder your home sale.
1. Bad First Impressions
When preparing to sell your home, there is a lot to think about, especially when it comes to staging. How you choose to stage will define your home’s overall mood and atmosphere. For example, do you want your home to appear minimalist or decorative? Will you incorporate color and design when you stage?
These are all factors that an agent will consider to create the best impression on potential buyers.
In addition, your agent will likely have an extensive network of professionals to help stage your home. Without these connections, your home could end up not “hitting the mark” and, in turn, sit on the market for long. Other staging considerations include:
- Should you remove personal items, like family pictures, to create a generic feel?
- How much should you do landscaping to enhance your curb appeal?
- Should you repaint specific rooms to appeal to updated trends?
Agents on the Erica Deuschle Real Estate Team are here to help you with all of your staging needs so you can get better offers quicker!
2. Limited Access to Market Data and Online Tools
Agents who become members of the National Association of Realtors® have access to the MLS or multiple listing services. Realtors can see more listings, off-market data, and expired listings with access to the MLS.
Another benefit to listing with an agent is their social media presence. The best agents have an active website and social media platform to reach a greater audience. They can post your home on their own site and market it to buyers in their circle. If you sell FSBO, you will need to list and market your home yourself.
3. Misinterpreting Important Documents
Selling your home alone runs the risk of misinterpreting legal documents leading to costly missteps. Working with an agent will save you time when navigating contracts and documentation. Your agent will answer questions and explain the fine print, so you aren’t left guessing.
4. Incorrectly Pricing Your Home
When selling FSBO, one of the biggest blunders is under or over-pricing your home. Overpricing can lead to your home sitting on the market and becoming a stale listing. On the other hand, underpricing will lead to you losing out of possibly thousands of dollars. Also, when it comes time for an appraisal, if the appraised value is well under your listing price, you could lose out on a deal.
Here at the Erica Deuschle Real Estate Team, all of our agents are certified realtors with access to additional market data, so your home will be priced correctly and competitively.
5. Bad Negotiation Skills
Unless you’ve sold a home on your own before, you will likely be new to the world of home negotiations. An agent will know the ropes and guide you through those hard conversations. They will use their experience with buyers, buyer’s agents, inspectors, and appraisers to reach an agreement that benefits you, the seller. You’ll need to prepare for and navigate negotiations alone when selling FSBO, which could lead to you losing out on some major cash.
Don’t navigate home selling alone in 2022! We offer a free consultation and home evaluation. So contact us now and let us guide you to your best deal.