For Sale By Owner (FSBO)

The current market has seen an up rise in For Sale By Owner (FSBO) homes. A FSBO is a homeowner who sells their home without representation of a real estate agent. It may seem easy to sell your home yourself, but is it really a good idea? According to The National Association of Realtors, “less than 10% of FSBOs actually sell.” The Realty Group Team is composed of expert agents who will help you sell your home fast!

There are two main reasons people may want to sell their home themselves: they don’t want to pay fees, like agent commissions, and/or they don’t think they need an agent’s help. Here are a few skills licensed agents have that the average homeowner may no

Marketing

Realtors work very hard to build their client database. This means that most people that are seeing their social media posts or emails are somehow involved in real estate. Anyone can market on social media, but chances are, the majority of their audience isn’t interested in real estate. With connections to other agents, past clients, and people involved in the business, your home will be seen by many.

Pictured Above: A listing from our agents, Teresa and Tracie Grant that went under contract in just a few days. This home was marketed on The Realty Group Team’s Facebook, Twitter, Instagram, LinkedIn and database of over 20,000 contacts!

Pricing

Agents are trained in pricing to ensure that you get the best possible price for your home. FSBOs often set their list price way too low. Without the training to accurately price a home, you could be selling your home for way less than its worth. If you’re interested in learning more about how realtors price homes, visit Determining Your Home’s Sale Price.

Dealing With Potential Buyers

In the current seller’s market, there is an increase of people looking to buy homes. Realtors help their clients screen potential buyers. If you’re not trained in real estate, you may not know which questions to ask to determine if a buyer is even able to buy your home. Agents also spend a lot of time handling buyer inquiries and answering questions. FSBOs most likely have careers of their own and aren’t always available to answer questions. If potential buyers aren’t answered in a timely manner, they may be less likely to buy a home.

Understanding Contracts and Following Timelines

Contracts can be full of contingencies and clauses that realtors are trained to understand and follow. If you miss a contingency or timeline, your whole deal could fall through and you could be subject to legal repercussions. There is a lot of behind the scenes work

There are many risks to consider if you decide to sell your home yourself. If you are considering selling your home, but are hesitant about working with a realtor, please reach out to Teresa Grant (434) 546-3202 by call or text.

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