You’ve decided to sell your house. One of the options you might be considering is FSBO (for sale by owner). FSBO means you’re selling the house without the assistance of a real estate agent. Home sellers choose this option thinking they’ll save a significant amount of money on agent fees. Upon closer inspection, you’ll see this isn’t a good idea.
Here are some of the reasons you should not risk listing your house FSBO:
- Liability is on you (the seller) – If you don’t advertise the house exactly as-is or disclose all required information, you could be vulnerable to potential lawsuits. An agent knows how to avoid lawsuits from buyers and carries insurance to protect against such suits.
- Pricing the home accurately is difficult – The value of your home is dictated by the local market. If you overprice your home, it will sit on the market too long, severely diminishing its value. If you underprice, you’ll lose money. A good agent is knowledgeable about the local market and can use comps to price your house properly.
- There’s a lot of paperwork involved – The amount of paperwork involved with selling a home can be overwhelming. An agent will ensure you have all the right paperwork and that it’s all in order.
- You’re more likely to make mistakes – Serious mistakes can result in bad deals or lost money. Good agents have experience and can provide guidance to prevent serious errors.
When it comes down to it, FSBO simply isn’t a good idea. You’re much better off working with a local real estate agent. If you need a reputable real estate agent to sell your house, be sure to contact us at Randy Lindsay today.