Should I Try To Sell My Home Myself Or Use A Realtor

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Should I Try To Sell My Home Myself Or Use A Realtor

 

For Sale By Owner

For Sale By Owner

So you are thinking you can sell your home yourself (FSBO or for-sale-by-owner), and save the commission you would have to pay if you used the services of a professional realtor, below are 6 things to think about first.

1) FSBOs are not allowed to list their home for sale in the MLS (multiple listing service) because it is a industry membership organization and only available to licensed real estate agents & brokers. This also means that many websites and search engines including the most popular ones such as Realtor.com, Trulia.com and AOL will not list FSBOs as they get their listings from the MLS.

2) Real Estate Agents and Brokers are less likely to show FSBO homes because the buyers agent receives a percentage of the commission the seller pays to the listing agent. This percentage is agreed upon and shown in writing in the listing agreemement which is a legally binding document. So even if the FSBO says he will pay the buyers agent their commission their is no legally binding document in place so most agents won’t go through with the transaction.
3) Like many homeowners FSBOs usually overprice their homes because they believe that their home is worth more than comparable homes in the same neighborhood. The benefits of using a real estate agent is that they can provide a Comparable Market Analysis (C.M.A) which will help you price your home competitively and provide tips for improving the home’s appeal.
4) Buyers will spend less time in a FSBO if the owner is present during the showings, and they will feel shy about discussing its good and bad points with their agent if the owner can hear them.
5) There are many legal issues in a real estate transactions and FSBO’s who overlook any of the legal disclosure requirements could find themselves in an expensive buyer lawsuit after the transaction closes.
6. Only 9% of home listed by FSBOs sell and of those that do the majority sell for 6% or more less than those sold using the services of a realtor.

We are Frisco, TX home specialists. If you have any questions about real estate in Frisco, or any neighboring DFW communities, please fill out our contact form, or call 469-556-2393 for assistance.

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Nick Walton
JP And Associates REALTORS
469-556-2393
Nick@TrackingTheWeb.com

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