Here’s an important list containing 7 reasons why you might just re-think the allure of slapping a For Sale By Owner sign in your front yard. FSBO selling involves more than listing, actually selling and closing. Unpack them, though, and you’ll see how you might be doing yourself a favor by choosing to use an agent.
1. The FSBO market is a sinking ship. According to the National Association of Realtors, the FSBO market peaked – in 2004 – at 14 percent. The slide continues. In 2013, it was 9 percent.
2. The old “driving around neighborhoods” approach to finding a home has taken a back seat to buyers who increasingly rely more and more on technology to “digitally drive” and see options. And those yard signs? Numbers indicate they’re only really helpful in translating to purchases since about 10% of ALL buyers say a sign played a part.
3. In 2014, the NAR’s housing market profile confirmed that 92% of home buyers used the Internet. Why put your property on sites with free classified listings when reputable and qualified sites such as Zillow and Relator.com exist and serve the same function?
4. Facebook friends aren’t necessarily realtors, live in the area or know the market. The odds are that they’re socializing on social media, not necessarily using it to find a new home.
5. Few people buy homes they’ve never seen and few personal schedules are flexible enough to drop everything every time to “show” your home. Remember, buyers don’t really care if showing is convenient for YOU. They need to see when they need to see and a Realtor’s job is to be available for just that.
6. FSBO means “rock bottom prices” to some buyers. Selling agents have the ability and tools to know if a buyer is actually qualified to afford your listing. Wouldn’t you like to KNOW and not have it be a question?
7. Fees for selling agents –marketing your home, finding qualified buyers and their commission – can be included in your home’s prices making it easier to move along the process. As an FSBO seller, some of those costs could be yours.
How attractive is that decision to be an FSBO seller? Consider these 7 reasons to NOT join the ranks.