Recently, a past client asked me about the differences between listing your home with an agent versus listing For Sale By Owner (or FSBO).
First of all, when you list FSBO you’re going to be doing all of your own marketing. A Realtor will be able to offer you a much more extensive marketing program. Realtors can put your home on the Multiple Listing Service and expose it to a vast number of buyers.
When you list your home FSBO, only one person is selling your home: you. Statistically speaking, FSBO sellers tend to net 17% less money than sellers who listed with a Realtor.
One thing I tend to remind people of is the fact that as a homeowner, it is hard for you to be an objective seller. You are emotionally invested in your property, which can cloud your judgment when it comes to important decisions about your listing.
Having a third party like an agent to help you navigate the process is going to make a big difference for your listing.
Also, remember that legal issues can arise when selling FSBO. There are a lot of disclosures that must be made throughout a real estate transaction. Information about lead-based paint, mold remediation, and dozens of other disclosures all need to be made.
If you don’t know how to properly provide buyers with this information, you could end up facing legal issues.
Another issue is that sometimes buyers don’t pan out. There are a lot of things you need to look out for, and these issues will be much easier to identify with the help of an agent.
I understand that many people believe they’ll be saving money by listing FSBO. Truthfully though, this is not generally the case.
If you’d like more information, have any other questions, or would like to talk to my team and me about how we can get you the most for your listing, feel free to give me a call or send me an email. I look forward to hearing from you soon.