For Sale By Owner, more commonly known by its acronym FSBO, is selling one’s home without the assistance of a real estate agent. The main reasons people choose to FSBO vary, but the principal reason is to avoid paying real estate commissions, which is typically around 6 percent of the home’s sales price. However, most people who try to sell their homes on their own end up regretting it. Here are the five reasons why FSBO is not a good idea.
1. You Don’t Have the Same Marketing Power
Real estate agents have access to powerful marketing tools and resources that FSBO sellers don’t. The Multiple Listing Service (MLS) is a great case in point. Real estate agents have a vast network of real estate investors who can buy your home almost immediately it hits the market. They also spend a lot of money on marketing their website and social media channels which helps get your home noticed by your intended audience.
2. You Could Be Legally Liable
There are a lot of legal parameters involved in selling a home, from disclosures to contracts. If you make a mistake, you could be legally liable and end up losing thousands of dollars. Good real estate agents are trained and experienced in these things and know how to protect you from any legal issues.
3. It Takes Up A Lot of Your Time
Selling a home can take a long time. The entire process is a big-time commitment. You’ll have to juggle showings, open houses, and paperwork. If you work full-time or have kids, it can be even harder to find the time to sell your home. So if you need to sell fast, FSBO is definitely the wrong option.
4. You Might Not Get as Much Money
Contrary to popular opinion, it is not a guarantee that you will make more money through FSBO. When owners decide to sell their houses themselves, they often either overprice or underprice the home and end up bungling the sale. However, real estate agents are experts at pricing homes correctly and will help you get top dollar for your home.
5. It’s An Emotional Rollercoaster
Selling your home is a big deal – emotionally and practically, and it can be hard to detach yourself from your memories. You will also have to deal with buyers directly, which can be difficult and draining. An experienced real estate agent will be able to take this stress off your plate.
Do You Want to Sell Your Home in Texas?
If you are ready to sell your home, FSBO is not always the best option. It’s important to remember that selling your home is emotionally demanding, and you might not be able to pull through in the end. If you would like to speak to a local real estate agent about selling your Texas home, please don’t hesitate to contact us at (281) 717-4412. We would be happy to help you.