7 F.S.B.O. Myths

Here are 7 For Sale By Owner Myths:

Myth #1:  You Will Sell Your Home Faster Than Anyone Else

Fact: Nearly 90% of home buyers use an agent to find property.

In theory because you didn’t “raise” the price to include commission, your home will sale faster.  In reality, almost 90% of all home buyers use an agent to find their new home.  If your home isn’t listed, it is practally  invisible to those 90% of buyers.  It is dificult to sell your home faster AND for more money by ONLY marketing it to 10% of the active buyers in the market.

Myth #2: You Will Walk Away with More $$$$ in your Pocket

Fact: Homes Listed with Agents sell for 32% more than FSBO Sales

According to studies,  agent-assisted home sell for  an average of 32% MORE than FSBO sales. Which means when you think you are  “saving” 5 to 6%, you are actually losing 26%!  In addition, a majority of buyers that look at FSBOs are expecting a DISCOUNT on the purchase of a FSBO by the usual commission.  Unfortunately both buyer and seller can’t get receive a “Discount” so you will probably have to budge if you want to sell.

Myth #3: You Will Sell Your Home Better Than Anyone

Fact: Because  it’s your home, you will probably have a harder time selling it than a neutral third-party would.

Why? Because you have an emotional attachment to the property. It is very difficult to separate yourself from your home to “sell” it to a potential buyer.

Myth #4: You Will Sell Your Home, Period.

Fact: 90% of FSBO sellers  go on to list their home with a REALTOR®. 

You may have heard stories from someone you know boasting about how they sold their home all on their own, getting their asking price and terms with no hiccups in the transfer of title. Don’t expect this to be the norm, the 90/10 rule exists for a reason. You are welcome to roll the dice and hope you are one of the lucky 10% but you will be wrong 9/10 times.

Myth #5: You Will Have a Lot Less Hassle

Fact: There is a lot of work involved in marketing your home!

You are responsible for all of the advertising (including extensive costs), scheduling showings, previewing & qualifying buyers, preparing and showing your property, contacting appraisers, contractors, inspectors, etc. all while protecting your interest in hopes that you understand the terms involved in the trasaction. By employing an experienced REALTOR®, you will eliminate most of the headache involved in selling your home. What will you do with this extra time…we suggest using it to pack 😉

Myth #6: You Can Prepare and Understand Legalwork

Fact: All REALTOR®s must complete 90 hours of class time, including 6 hours of contract writing and ongoing continuing education.

There is a reason for all of this certification in order to obtain a real estate license; the current real estate purchase contract is 9 pages long, is always growning longer and includes plenty of fine print and clauses for “what if” situations. There are many terms and descriptions that the average seller is not informed about. As real estate professionals, we can walk you through the purchase contract line by line so you know exactly what you are agreeing to as you prepare to sell your most valuable asset.

Myth #7: Real Estate Agents Are Lazy

Fact: Actually we partially agree with this one. 😉

Sadly a majority of REALTOR®s will take a listing, put up their sign in the front yard, sit back and wait for a contract so they can collect a commission. YOU DESERVE MORE… List with The Stringer Real Estate Group and receive unparalleled marketing by experienced agents with the same common goal as you…SELL YOUR HOME FOR THE BEST PRICE POSSIBLE IN THE SHORTEST AMOUNT OF TIME!

For more information, view this post on Why Should You Hire a Real Estate Professional?