Four out of five homeowners use the services of a real estate agent to list and sell their home. Twenty percent will try to do a For Sale by Owner — should you?
I think that if you have the time, patience and real estate transaction experience – absolutely. I sold my last house as a FSBO before I became a Real Estate Agent. But…I also had extensive experience as a result of 7 or 8 transactions in a 5 year period through investment real estate. I also had my own company with an experienced staff so I had the time for marketing the home, showings and follow up to make sure the deal went through. But it’s harder work than most realize. According to statistics from the National Association of Realtors, eighty percent of people who do try to sell their home FSBO will eventually list with a realtor
I think part of the reason people are compelled to sell FSBO is the perception that realtors just list your house on the MLS, print a few flyers and that’s it. Unfortunately, the reality probably matches the perception in a lot of cases. A good professional will do so much more than that. From helping you accurately price your home, being available day or night to answer your questions and those of potential buyers, to making sure you get the right buyer who can actually close the deal – there’s a lot of work a professional realtor performs if they are doing their jobs correctly.
I’m curious as to other people’s experience in this area. Any bad FSBO experiences? (Aside from the pushy suede-shoe, old-school realtors that kept trying to convince you there is no way you can do this with out them). Success stories? Those who started FSBO and eventually listed — what was the compelling reason? Any stories in defense of realtors?