Do you want to know why people are afraid to buy from you? 
 
Many homeowners believe that to maximize their profit on a home sale they should sell it themselves. At first glance, they believe selling a home is a simple transaction.  Why pay a broker fees when it is obviously less expensive to sell it on your own? 

In reality, close to half of 2009 FSBO s said that they would hire a professional next time they sold property. Thirty percent said they were unhappy with the results they achieved by choosing to sell FSBO. 

Why?

Many FSBO s told us that the time it took to sell, complicated paperwork and everyday responsibilities involved were not worth the amount of money they saved in commission fees.  By the time they figured the amount of fees paid to outside consultants, inspectors, appraisers, title lawyers, escrow and loan officers, marketing, advertising... they would have been better off having paid the broker s fee which would have included many of these charges up front.

Selling a home requires an intimate understanding of the local real estate market. If the property is priced too high, it will sit and develop a reputation for being a tough sell, regardless of condition or maintenance. If the property is priced too low, you could cost yourself a staggering amount of net proceeds. Some FSBO s reported that the lost wealth as a result of poor do-it-yourself decisions far outweighed the commission that would have otherwise been paid.

Before you decide to sell FSBO, consider these issues and weigh the pros and cons of assuming the legal liability versus employing a professional. A little time spent investigating now will pay off tenfold in the end. 

FSBO's, did you know that you are legally obligated to complete disclosures regarding property condition, lead-based paint, and in some case, radon and mold?  Attorneys may be able to provide you with these forms, but you assume 100% of the liability risk if you choose to remain unrepresented by a Realtor.  

FSBO's, did you know that Realtors are required to maintain errors and omissions (E & O) insurance as a condition of being licensed professionals?  Are you? 


Questions To Consider Before Selling "FSBO":

Do I have the time, energy, know-how, and ability to devote a full forced effort to sell my home?

One of the keys to selling your home efficiently and profitably is complete accessibility. Many homes have remained on the market much longer than necessary because the owner was unwilling or unavailable to show the property. Realize that a certain amount of hours each day is necessary to sell your home.
 

Am I prepared to deal with an onslaught of buyers who perceive FSBO s as targets for low balling?

One of the challenges of selling a home is screening unqualified prospects and dealing with "lowballers."  It often goes unnoticed... how much time, effort and expertise it requires to spot these people quickly. Settling for a lowball bid can often be worse than paying broker commissions.
 

Am I offering financing options to the buyer? Am I prepared to answer questions about financing?

One of the keys to selling, whether it s a home, a car... anything, is to have all the necessary information the prospective buyer needs and to offer them options. Think about the last time you purchased something of value, did you make a decision before you had all your ducks in a row?  By offering financing options, you give the home buyer the ability to work on their terms and open up the possibilities of selling your home quickly and more profitably. A professional real estate agent will have a complete team, from lenders to title representatives for you to utilize at your disposal. It is not unusual for FSBOs to encounter people assuming they can lease the house cheaply, rent to own, or enter into a seller-financed contract.  Do you want to be used as a bank by an unqualifiable home seeker?
 

Do I fully understand the legal ramifications and necessary steps required in selling a home?

Many home sales have been lost due to incomplete paperwork, lack of inspections or not meeting your states disclosure laws. Are you completely informed of all the steps necessary to sell real estate? If not, a New Age Real Estate professional would be a wise choice.
 

Do I have the capability of handling the legal contracts, agreements and any disputes with buyers before or after the offer is presented?

Ask yourself if you are well versed in legalese, and if you are prepared to handle disputes with buyers. To avoid any disputes it is wise to put all negotiations and agreements in writing. Many home sales have been lost due to misinterpretation of what was negotiated. 
 

Have I contacted the necessary professionals....title, inspector (home and pest), attorney, and escrow company?

Are you familiar with top inspectors and escrow companies? Don t randomly select inspectors, attorneys, and title reps. Like any profession there are inadequate individuals who will slow, delay and possibly even cost you the transaction.  Working with a Realtor can help guarantee only capable and concientious professional will be included in your transaction.