The Downside of Selling Your House by Yourself

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    One of the things we’ve been discussing with our clients recently is how much the business has changed, especially in relation to those who sell their home as For Sale By Owner (FSBO). While there are many tools out there nowadays to assist a person in selling their house without an agent, is this your best option?

    The whole purpose of selling your home as FSBO is to maximize your top dollar. However, when you don’t work with a real estate agent, there are many details of the business you don’t know about that can damage your attempt to sell your home. We’ve said it many times before: our business is like an iceberg – what you see at the surface is only a tiny fraction of what goes into a successful transaction.

    For example, not being informed of the intricacies of the real estate business can affect your home’s days on market. The more days your home spends on market, the less attractive it appears to buyers. To a homeowner, being on the market for two or three months doesn’t feel very long at all. That timeframe, however, is something a buyer will specifically focus on and be suspicious of.

    Our business is like an iceberg.

    This is something you want to take into account if you’re thinking about selling as FSBO. You want to be aggressive with your marketing, and you need to know how to follow up with any leads you may get. It’s easy to assume that you just need to get a buyer and everything else will resolve itself, but there are actually three stages to sealing a contract: marketing, attracting a buyer, negotiating, and closing. During the closing process alone, you’d be dealing with appraisals, attorneys, and mortgage lenders all by yourself.

    There are certain things that are too important to leave to chance. If you want to sell your house and do it alone, be mindful of what the potential consequences are. If you want to get in contact with us, we’d be happy to advise you. Whether you still want to do it or not is up to you, but we’re just happy to help.

    If you have any questions, be sure to give us a call or send us an email.

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