Realtor.com| Aug 16, 2017
Going the “For Sale by Owner” route is a tempting alternative to hiring a real estate agent to sell your home. After all, listing agents charge a commission for their work that can eat into your own profits. So why not try to save money by selling your home yourself?
Here’s why: There are some major risks with going FSBO, from a lower sales price to landing in legal hot water. So before you pursue this DIY route, here’s a warning of some of the bad things you might encounter when you attempt a FSBO arrangement.
1. Your listing won’t be seen by many buyers
One key thing a real estate agent will do for you is create an eye-catching ad for your home, with attractive photos and a winning description that will reel in buyers (by, say, playing up those hardwood floors and granite countertops). Sure, you can probably cobble together your own ad, but there’s one thing you absolutely can’t do if you go FSBO: Post that ad on the multiple listing service.
Real estate agents pay to put their listings on the MLS, which is then distributed far and wide, including to sites such as realtor.com®. Which is great, since that way you know your home can be seen by thousands of potential buyers and their agents. With FSBO, however, your home won’t go on the MLS; instead, it’ll go on sites that cater to FSBO listings, which get far less traffic.
“There are thousands of agents trying to sell your house when it’s on the MLS, but when you do it alone, only one person is trying to sell your house—you,” notes Realtor® Denise Briez with Pro100 in Neosho, MO.
2. Your home could sell for a much lower price
Pricing a home can be far more challenging than most newbies assume. The majority of sellers price their home based on emotions, or what they hope it should sell for in some dreamy best-case scenario…