For Sale by Owner Can Mean Opportunity Lost
We promise, we do understand the desire to sell by owner. The equity from the sale of one house is often what is used as the down payment on another house, and it can feel like the best way to save money in a sale. However, when you skip the REALTOR you miss key benefits from having an expert assist in the sale of your home. The truth is many home sellers who start off with the mindset of selling by owner inevitably end up looking for a realtor instead. Here’s why:
Home Sale Price
- It’s tough for homeowners to fully understand the appropriate listing price of a home. Owners generally go into a sale with both an emotional attachment to their home as well as a desired outcome; both of which can cause them to drive up the asking price and miss out on opportunity. An experienced real estate agent will know exactly what homes in the area are selling for and how to accurately price your home.
- There are many steps involved in the process of selling a home – from qualifying the buyers to finding a closing attorney. Rarely do homes sell immediately at full asking price with no problems, but with an experienced agent making the sale the hiccups that can occur are handled with minimal anxiety to the seller.
- Buyers will have their own agent and that agent may be reluctant to work with a For Sale By Owner. Honestly, it’s often because the agent may wind up doing most of the work on both sides. Similarly, many buyers aren’t interested in working with a FSBO. It’s an enormous risk to work with a non-professional on one of the biggest investments of a person’s life.
- You’ve got a sign in your yard and your neighbors all know – so the offers should come pouring in, right? While placing a FSBO sign in the yard may bring the neighbors, it does not guarantee true prospects. Once the home is listed on MLS, however, realtors show it with clients that are qualified and interested in that home for a reason. Realtors are constantly networking and having conversations with people who want to buy houses!
- The number of laws and regulations surrounding real estate has grown immensely and are ever changing. While all information may be available, that doesn’t mean a seller is prepared to learn it all or understand it fully.
In the Nashville seller’s market today, the temptation to sell by owner is stronger than ever. And yes, it can still be done. But, if you plan to sell your home by owner, be sure you are prepared for all the ins and outs of the process and make an educated decision. If you would prefer to work with an experienced agent to buy or sell in the Nashville area, call DeSelms Real Estate today at 615.550.5565!