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Top 5 Reasons Why You Shouldn't FSBO

FSBO SignSelling your home is a time consuming endeavor, especially for those inexperienced in the process. The allure of saving on agent commission fees leads many home sellers to forgo hiring a knowledgeable and well connected real estate agent. The “can do” independent spirit of the American homeowner can be put to far better use. Partnering with a real estate professional who knows how to best market and sell your home will free up time better spent on things a homeowner “can do” effectively and save you from costly mistakes. Your time is valuable. 

1. Time: A homeowner’s time is valuable. The process of selling your home by yourself takes on a lot of responsibilities which can lead to many unexpected time consuming and costly mistakes. You will be taking all of the pictures of your home and figuring out how to best describe the home to qualified and potential buyers. You may attract a lot of attention with your efforts only to discover the people you have ardently prepared for are nothing more than a time consuming and unrewarding group of people known as “lookie-loos” (nosy neighbors, open house crashers, unqualified buyers.) 

2. Scammers: Unfortunately scammers are a part of our modern lives. Scammers are another reason why you shouldn’t sell your home by yourself. Scammers may not need to look at the house, share their financial information with you carelessly through email, refuse to work with a real estate agent or recommend their own lawyers and foreign banks. A real estate agent will recognize the red flags from obvious scams, and other more subtle and hard to detect scams. They will save you from the burden of falling victim to an unexpected scam and navigate safely to serious buyers. 

3. Respect: When you choose to list your home FSBO you are essentially telling the real estate community you do not value the professional services they offer. The buyer’s agents you negotiate with will have the upper hand and little incentive to treat your listing with the respect it deserves. They will pick apart your property and price because they have the experience to do so. Many buyer’s agents will ignore your listing altogether to avoid the time consuming hassle of working with an FSBO listing (you will be missing out on the serious, qualified buyers they represent.) 

4. Liability: Did you dot your i’s and cross your t’s? There are a lot of details in the marketing and paperwork created when selling your home. A small mistake or omission could cost you dearly. Real estate agents carry “errors and omissions” insurance to protect against mistakes made in contracts. The mistakes made in contracts or misrepresenting a property will fall on the shoulders of the seller when choosing to sell your home yourself. 

5. Money: Money is definitely one of the top reasons why for sale by owner isn’t a good idea. Sellers often overprice their properties and turn away serious buyers. Conversely, if you list your property too low it may signal there is something wrong with the property or you are desperate to sell. A seasoned real estate professional will know the market inside and out. They will help you set the price according to the fair market value, and effectively sell your home in a timely manner. 

Phaidra McDermott is a life long resident of Sanibel Island. She is one of the most trusted real estate agents in the Sanibel and Captiva regions of Florida. When you partner with Phaidra McDermott you will be connecting to resources and relationships to move forward in the selling of your home quickly and effectively. Contact Phaidra McDermott today!

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