The chances are good that you’ve heard a lot of negative statements about selling your home on your own. And, that’s not terribly surprising. After all, there are REALTOR® national and local associations that lose money every time a homeowner doesn’t use the services of their members. You won’t find such a group of FSBO buyers and sellers; they complete the transaction and move along. And, usually, buying or selling property has nothing to do with their livelihood.
In an effort to protect their jobs, however, some real estate agents have neglected the important step of fact checking before releasing information to the public. These unsubstantiated claims feed the biggest myths about selling on your own.
Before you list your home, it’s important to differentiate fact from fiction.
• Pricing is a pain – It’s not! You need to spend some time investigating similar properties to price your home appropriately… but that’s exactly what real estate agents do. And, you have access to all the same information they have. Property sales are a matter of public record – all you need to have is an unbiased picture of your home’s features.
• FSBO houses sell for less – This is one of the biggest fallacies in the market. Homes sell for whatever the buyer and the seller agree upon – that’s what the property is worth to both parties. Sellers, with or without an agent, aren’t forced to accept offers they don’t like.
• It takes longer to sell FSBO homes – There are so many factors involved in the sale of a house, from the asking price and the neighborhood norm to the state of the marketplace when listing. These variables affect the length of time to sell… as long as you’re available to show your home to interested parties.
• It’s impossible to market a FSBO home – Most buyers begin their home searches online, so that’s where you need to be. In addition to listing your property on MLSProvider.com you’ll attract buyer attention because it will be listed on the MLS. While this carries a small fee, it’s substantially less than an agent’s commission.
• The pros make closing easier – No matter what you do, you’ll need to bring in a lawyer to ensure that contracts are complete, and there are no clouds over the transaction. Typically, real estate agents don’t offer this service directly, and you pay for it anyhow. There is no difference when it comes to crossing the Ts and staying on the right side of the law and the tax man.
What’s holding you back? Hopefully, it’s not any of these myths! We’ve just busted all of them so that you can take control of your largest asset on your own. Oh, and in case you were wondering, you can show your home to interested buyers; in fact, who knows more about it than you?