Can I Sell My Home By FSBO? Maybe, But Here’s Why You Shouldn’t Try

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When you’re ready to sell your home, you’re probably sitting in front of the calculator, crunching numbers. You want to make money on the deal, but you know that there are fees involved with selling. Specifically, you’ve heard that real estate agents charge almost 6% in commission. (The national average is 5.37%.)

Since you want to put every possible dime in your own pocket, you start thinking about trying “for sale by owner" (FSBO). Stop right there, because you should really find a qualified agent to sell your home. Here’s why:

Why People Are Tempted to Sell by FSBO

Lots of people try to go it alone on the FSBO route. But they do so under a false understanding about what the process will really be like. Below, we debunk the myths about FSBO.

Myth: You can make more selling by FSBO because you don’t have to pay real estate agent commission fees.

FACT: Homeowners who listed with an agent got a 26% higher sale price for their homes than those who sold their homes on their own. There are multiple reasons for this:

  • Real estate agents are experienced negotiators.
  • Real estate professionals have vast networks, which they leverage to attract buyers.
  • Homebuyers know that FSBO property owners aren’t paying commission, so they factor that in when they make an offer.

Myth: It’s not that hard to sell a house. Just dress up, show off the house and make a deal.

FACT: Real estate agents spend money and time marketing property, having professional photos taken, hosting open houses, driving clients to show the house, qualifying buyers and more. They research neighborhood comps to ensure the house is priced right. Zillow and other general real estate sites might give estimates of what a home is worth, but that doesn't mean it will be accurate. Real estate agents show the house, answer questions, follow up with clients, and do a ton of other behind-the-scenes work that a homeowner wouldn’t even know where to begin.

Myth: An FSBO home seller can just hire an inexpensive lawyer to take care of the paperwork.

FACT: A lot can go wrong with a real estate deal. Real estate agents go through a lot of training to ensure that laws are complied with. They read real estate paperwork every day and know just where the potential pitfalls lie in any deal.

If you’re serious about selling, you need to be serious about hiring a professional to do the job. Only an experienced, top-rated real estate agent like those on Best Agent Today can provide an accurate value of your home so you can sell your home for the highest possible price. Contact us today.