Shorewest Shares: 5 Reasons You Shouldn’t For Sale By Owner Posted on August 20, 2014 by socialmedia by Some homeowners consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). We think there are several reasons this might not be a good idea for the vast majority of sellers. 1. There Are Too Many People to Negotiate With Here is a list of some of the people with whom you must be prepared to negotiate if you decide to FSBO. The buyer who wants the best deal possible The buyer’s agent who solely represents the best interest of the buyer The buyer’s attorney (in some parts of the country) The home inspection companies, which work for the buyer and will almost always find some problems with the house The appraiser if there is a question of value Your bank in the case of a short sale 2. Exposure to Prospective Purchasers Recent studies have shown that 92% of buyers search online for a home. That is in comparison to only 28% looking at print newspaper ads. Most real estate agents have an extensive internet strategy to promote the sale of your home. Do you? 3. Actual Results also come from the Internet Where do buyers find the home they actually purchased? 43% on the internet 9% from a yard sign 1% from newspapers The days of selling your house by just putting up a sign and putting it in the paper are long gone. Having a strong internet strategy is crucial. 4. FSBOing has Become More and More Difficult The paperwork involved in selling and buying a home has increased dramatically as industry disclosures and regulations have become mandatory. This is one of the reasons that the percentage of people FSBOing has dropped from 19% to 9% over the last 20+ years. 5. You Net More Money when Using an Agent Many homeowners believe that they will save the real estate commission by selling on their own. Realize that the main reason buyers look at FSBOs is because they also believe they can save the real commission. The seller and buyer can’t both save the same commission. Studies have shown that the typical house sold by the homeowner sells for $184,000 while the typical house sold by an agent sells for $230,000. This doesn’t mean that an agent can get $46,000 more for your home as studies have shown that people are more likely to FSBO in markets with lower price points. However, it does show that selling on your own might not make sense. Bottom Line Before you decide to take on the challenges of selling your house on your own, sit with a Shorewest, REALTOR®. To find an office, or an agent, visit www.shorewest.com Tags: current housing market, Home Sales, Home Selling, homes for sale, Housing Market, living in milwaukee, Milwaukee, milwaukee lifestyle, real estate advice, real estate agent, Realtors, selling a home, shorewest, Shorewest Realtors, tips and advice, wisconsin real estate Categories: Home Selling Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Δ Home Property Search Map Search About Me My Recently Sold My Reviews Videos Contact Me Reset Password Enter the email address for your account and we will email you instructions on how to reset your password Email* Reset My Password × Sign In Email* Password* Sign In Reset Password New to myShorewest? 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