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Thinking FSBO? Why That’s a No-No!

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Thinking FSBO? Why That’s a No-No!

When you’re looking to sell your home, you may consider a For Sale By Owner or FSBO. And, why not? It seems like a great idea… you put that “For Sale” sign out in front of your yard, notify your Facebook friends, take an ad out on Craigslist and qualified buyers will come flocking, right?

Well, not so much. The stats show that FSBO listings actually take longer to sell and often go for less than homes listed with a professional real estate agent. But, why? When you list a FSBO property, you’re saving on those realtor commissions, right?

What many sellers don’t understand about selling a home is that a 6% realtor fee is actually factored into the home’s sales price. So, you’re either splitting that commission between your own realtor and the buyer’s agent or you’re just giving it all to the buyer’s agent. Doesn’t make an FSBO so appealing, does it?

And, here are a five other reasons that an FSBO may just be a seller no-no!

1. No MLS Access: The Multiple Listing Service is only the biggest real estate industry database in existence and it just so happens to be accessible only to realtors – and their clients, of course. So, you want to give yourself maximum exposure when you list your home – and you have decided to try a FSBO listing? You’d better find a professional real estate agent that is willing to list your home without representing it, which may cost you an upfront fee – without any other benefit that comes along with simply hiring an agent.

2. Education: Though you may think that selling a home requires no professional education, keep in mind that to be a professional real estate agent, you must take real estate classes and pass a licensure exam. Agents receive education, training and pass a licensure exam that makes them more qualified than say, an average home seller. No, you’re not the subject matter expert you might like to be in this instance.

3. Marketing Savvy: While it may not be something they learn in class, professional real estate agents are trained to be well-versed in the proper marketing tactics to best sell a home. So, in addition to adding your home to their personal Facebook lists, they’re utilizing their professional social media sites and other more traditional marketing tools to get the word out about your home. Their work will most certainly top the FSBO sign you place in your front yard.

4. Experience: Whether it’s a few months or a few years, unless you’ve sold home after home after home in your life, a professional real estate agent has more experience than you. And, that’s OK. That’s what you hire an agent for! In this instance, it is OK to admit that you don’t know it all!

5. Personality: Are you ready to be on-call all the time, fielding questions, scheduling showings and simply representing every aspect about your home? A professional real estate agent is… and, guess what? Those are the very tasks that probably brought them into the industry. Frankly, everyone is not cut out to deal with potential buyers and their agents; but, when you hire a professional real estate agent, you can expect them to be in that right mood – all of the time. After all, that’s their job!

If you were planning a FSBO, but have since decided it’s a no-no, contact one of our experienced Pittsburgh real estate agents to discuss your home-selling options today.