‘For Sale By Owner’ sounds like a pretty good deal. There is no realtor’s commission required and, saving up to 6 percent by not involving a realtor is tempting enough to make any seller prefer FSBO. However, the extra money saved by taking the FSBO route isn’t always worth the added stress and risk.FSOB has its advantages and, there are tips to buy FSBO available. On the other hand, this does not outweigh all the disadvantages and risks involved with this kind of selling.
Hard to get clients
Realtors avoid showing “for sale by owner” homes to their clients. The buyer’s agent knows that, in an FSBO deal, there won’t be a professional agent on the other end to make a deal . Sometimes a client may request to see the house but, the agent might discourage them from making an offer by telling them the risks of making a deal without a professional presentation by the seller.
There is no assistance with negotiating
Negotiating is not an easy task-negotiating is an art form in many ways, especially when it comes to something as important as a home. You may believe you have the negotiating abilities to persuade a seller to accept your offer, but don’t hold your breath. Most sellers aren’t naive, they’ll almost certainly be accompanied by an agent.
It takes a lot of time
Selling your house becomes a full-time job where you work on the client’s time. When a client wants to see your home, you have to rush and show it to them. Having to market your house at every possible opportunity and is available to receive calls from potential clients. All these make it impossible for one to continue living their life as they always have, to be on call or they may end up losing clients.
Real estate agents have experience working with clients. It helps them to separate the jokers and unqualified buyers from the serious buyers. An FSBO lacks these experiences and these may lead to frustrations like rushing home after putting everything on hold to clean up and prepare the house for clients to come to see the house and they end up not interested in the house.
There is a lot of legal paperwork involved in a home sale transaction. One of the most important is the disclosure clause. A seller is supposed to disclose everything that affects the value or desirability of the property. Failure to do so could cause them to get sued by the buyer upon moving in and finding the flaw.
Saving more is the objective of any home seller, and considering FSBO may seem like an option to achieve this but it is not. Any prospective seller should first understand the pros and cons of selling without a realtor to avoid regretting later. Having a real estate agent work with you saves you a lot of time, money, and risks. A realtor acts as a seller’s representative, they’re aware of what the buyers need, the state of the market, and has the best negotiation skills. You don’t have to take the long risky way to sell your home. Let The Power Is Now Media walk the journey with you.
About The Powe Is Now Media Inc.
The Power Is Now Media Inc. is an advocate for the empowerment of the minority communities all around the United States. We engage with various thought leaders to make sure that you are equipped with knowledge about our economy. We have partnered with First Bank to provide you with products and services that will help you better prepare for the future. We are also advocating for first-time –home buyers. The Power Is Now Media Inc. can help you make your homeownership dream a reality. Go to www.rentagain.com and get started today.
Eric Lawrence Frazier MBA,
Vice President and Mortgage Advisor of First Bank,
President and CEO of The Power Is Now Media Inc.