Advantages and Disadvantages to Selling FSBO

by HOLLY HURD

Advantages and Disadvantages

 to Selling FSBO 

There are a lot of homeowners that choose to sell their home themselves.
There can be pros and cons to this and it's important to understand both of them
before you jump into the real estate market in a DIY sale.

Advantages:

You won't have to pay a real estate agent's commission. However, I say this hesitantly as
you may have to pay a buyer's agent commission. You won't have to pay a listing agent's
commission because there won't be an agent that actually lists

 and markets your home. But, if a buyer were to bring their own agent who wants to fulfill
and facilitate the transaction, 

you may be required to pay a buyers commission to that agent. Of course, you can refuse
 the buyer's offer or ask that the buyer pays their own agent's commission, but you could risk
 losing out on a sale. Related: Can I Buy a Home from a FSBO?

You can sell to friends or family. If you're planning on selling it yourself and you already
have a buyer 

lined up, selling yourself might be a no-brainer. You will want to understand all of the legalities
that come with the

 purchase and sale contract to make sure that both you and the buyer are protected.

There are no immediate timelines. The listing agent you usually sign either a three-month
 or six-month 

contract. There are time frames in place, and if the listing agent brings a willing and able
buyer at full price, 

you must sell to them otherwise run the risk of paying the listing agent a commission
regardless of whether

 or not you chose to sell the house. If you sell yourself, you can take the time to list the
 property and wait for the

 right buyer.

You have more control over who enters your house and the showings. When a real
 estate agent lists your home, 

they will put a lock box on your doorknob. This means that anyone that has a key code can
get into your house and

 view the property. Unless the property is vacant, there is usually an appointment that will be
 set up ahead of time, so 

you are well aware of when a showing happens. If you are the only one listing your house
and you have total control

 over when people see your house and who actually comes in. You will usually accompany
 that potential buyer through 

your house making you feel a little bit more secure about who's viewing what in your house.

Disadvantages

Selling a home yourself is practically a part-time job. There is a reason why real estate
agents make hefty commissions. There's a lot of negotiations; it takes a lot of time to list, present
 the home, marketed to potential buyers and 

buyers agents, negotiate, and keep up with all the legalities and paperwork throughout the transaction.

You won't be listed on the MLS. When you sell a house yourself, you cannot list your
home in the multiple

 listing service for your area. Only agents that are licensed for that area can list a property
 on the MLS. This

 removes 90% of potential buyers. Your buyers would need to come from personal
marketing, road signs, 

and newspaper or online advertisements. However, 90% of real estate buyers check
their local MLS First.

There can be additional costs. It's important to do your own home inspection report.
You don't want to open

 yourself up to accusations that you've not disclosed everything about the property. You
certainly don't want to

 face a lawsuit if problems are discovered later after the home has sold. You will also
 incur appraisal 

fees, services from title and escrow companies and possible attorney fees. This may not
be worth selling the home

 yourself.

You should screen all buyers. Real estate agents that show property take on the
responsibility of showing that 

property to a multitude of different people. It is their responsibility to ensure the safety
and protection of your personal belongings and your property during the sale.

Pricing your home may be difficult. Sellers immediately think they know what their
home is worth but after it has 

sat on the market for several weeks or even months, they may start to evaluate their
estimate. A real estate 

agent is proficient at doing the research necessary with comparable sales and listings
 to come up with an accurate

 price that will not only attract buyers but will pass appraisals.

If all this sounds too much to deal with, this is where a qualified, experienced and
seasoned real 

estate professional in the Columbus area comes into play. Don't mess with the stressful
 and confusing 

negotiations of a real estate transaction by yourself. If you'd like to know what your
 home is currently 

worth or would like information on listing it and how fast it could sell, call our
office today.

Holly Hurd~
Is a REALTOR with Berkshire Hathaway Home Services
Northville, Michigan 48167
#1 Firm in MICHIGAN
hollyhurd@hotmail.com
Sell / Buy a home in Northville,Michigan register today at:
www.Northvillehomes4sale.net
Holly Hurd ~
Living in the Northville, Michigan area for 40+ years , Holly Hurd is graduate of Northville High School, Schoolcraft College, Michigan State then raising her own family here Holly Hurd has first hand knowledge and knows the area quite well.
Please feel free to contact her for all your real estate needs #homerocks#YourHomeNorthville Michigan Real Estate Homes for sale in Northville Michigan Northville, Mi. 48167 #realtor #realestate#realestatemarket #realestateforsalemi #hometown #hollyhurd #home#homesforsale #historicnorthville #buy #buyingahome #buildingahome#buyrealestate #condo #northvillemi #sellyourhome #sellingyourhome#smalltown #shop #bhhs #berkshirehathaway #moveinmichigan#greattimetobuy #puremichigan #SOLD