"For Sale By Owner" (FSBO)
Why Not Sell It Yourself?

That was certainly a question that I asked myself a number of years ago when we were ready to sell our house. It was before my real estate career began, and at the time I did not fully understand all the benefits of hiring a professional REALTOR® to assist us with the process. In the end we did in fact hire a REALTOR® who sold our house in a timely manner and we had no regrets.

At the time I was somewhat aware of what we would have to deal with if we had decided to sell on our own. At the time I was still employed in the high-tech industry and worked full time. My commute to work took about an hour out of my day (each way), so I did not feel like I had a lot of time to deal with all the hassles involved in selling our house ourselves. For us, that's what it boiled down to. Avoiding all the hassles justified paying a REALTOR®.

My view has not changed today. In other words, I still think it is well worth it to hire a REALTOR® to help you sell your house when the time comes. Of course now I understand all the additional benefits of hiring a professional beyond just avoiding hassles! Here are a few of those reasons that you may want to consider:

Pricing Your Property. How?

That is probably one of the most difficult decisions faced by someone who intends to sell their house on their own. How do you arrive at the best possible price and not worry about pricing it too low and leaving money on the table or pricing too high and scaring buyers away who otherwise might be interested? You could pay a professional appraiser to come in and provide you with a price, but that is not a free service.

In fact, most people who sell on their own do price their home too low and end up selling for less than they should. Buyers also know that sellers who don't hire a REALTOR® are not paying a commission and will tend to make low-ball offers since they figure you are saving money by selling on your own.

A Professional REALTOR® uses well-established and proven techniques to help you price your home properly. With access to data on homes that have sold recently and homes that are currently on the market a REALTOR® will perform a CMA (Comparative Market Analysis). The CMA, along with the REALTOR'S® intimate knowledge of the local market will make sure you are not pricing your home outside the limits of its true market value.

Buyers Use REALTORS®

Most buyers enlist the assistance of a REALTOR® when they begin their search for a new home. With the majority of home buyers using the Internet in their search for a new home, it's not hard to figure out where most of them will be looking. Websites used by the large real estate companies receive thousands of visitors each week. The homes buyers are able to find on these sites are only those homes that are being marketed by a real estate professional.

Okay, say you decide to market your house on the Internet. Do you have the time and expertise to publish your own website? And even if you do, do you have the time and expertise to do the SEO (Search Engine Optimization) work that will enable home buyers to even find your site? What are the chances that buyers will find your site among the millions of other sites on the Internet?

The marketing opportunities for someone selling their house on their own are limited. There's newspaper classifieds, a sign in the front yard and maybe some posters placed in the area or on local retail outlets and meeting places. Effective Effective Internet advertising will cost money, and that is exactly what most FSBO sellers is trying to avoid. Some ads on cable TV could be purchased, but again there is a cost involved.

The best chance of selling your home comes with the best exposure to the market you are trying to reach. Hiring a REALTOR® to market your home provides you with the best chance to sell your home in a timely manner and to sell it for a price that reflects its true value. That's what my job is all about! See how I will market your home. (link)

Forms And Paperwork. Do You Know All You Need To Know?

As anyone who has attended a closing knows, there are multiple forms and paperwork that must be dealt with when a home is sold. Much of this paperwork is required by law and not using the correct forms can result in legal penalties as well as law suits by disgruntled buyers. When you sell a home you must know how to do so and stay within the law.

Many FSBO sellers hire an attorney to assist them with legal issues and paperwork. That's an excellent idea, but again, it will not be free. Add that to the marketing fees discussed above. A professional REALTOR® will provide you with most of the paperwork you need to complete the sale and help you coordinate each and every step of the process.

Does My Home Have "Curb Appeal?"

Most homeowners are a bit biased when it comes to the opinion of their own property. After all, it was a house they considered nice enough to live it and they may not be able to see it unobjectively. This can make it difficult to see little things that may need improvement or repair.

A good REALTOR® will be able to come in make helpful suggestions to the homeowner about what kind of repairs could be made to improve the home's "curb appeal." With an objective and experienced eye, a REALTOR® will know what needs to be done to have the home appeal to the widest range of potential buyers.

Lookie-Loos And Tire Kickers, Oh My!

One of the most dreaded experiences of the FSBO seller are the "Lookie-Loos" and "Tire Kickers." These are the folks that want to come in and see the home but are really not serious buyers. It could be someone who has always noticed your house and jumps at the chance to take a peek inside, or perhaps someone who is also considering putting their house on the market and wants to find out how you have priced yours. Whatever the reason, these people will raise the hopes and expectations of the seller and waste the sellers time for no good reason.

A REALTOR® can help you screen out people who are not really potential buyers and are just out looking at houses for entertainment purposes. Potential buyers can also be assisted with getting pre-approval from a mortgage lender, demonstrating that they are in fact serious buyers that can afford to buy.

Who Are You Dealing With?

The very nature of the FSBO sale requires that the seller open his or her house to total strangers and deal with them directly. This can be an uncomfortable situation. It hard to know if someone coming in off the street is genuinely interested in the home, or may want to see the interior and its contents for other reasons.

When you are working with a REALTOR®, you do not have to deal directly with any potential buyers until the time of the closing, and at that time they are not longer potential buyers, they are actual buyers. The experience and training a REALTOR® has will help avoid bringing people into your home that really should not be there.

Will you be available to take time off from work if someone wants to see your home during your normal work hours? When a homeowner markets their own home, their home is really only on the market when they are home! A good REALTOR® will always be available to answer inquiries from potential buyers and other real estate agents as well as schedule and conduct all showings and open house events.

Are You Comfortable Negotiating?

The emotional attachment a homeowner has to their home often results in less-than-objective expectations when it is time for negotiating with potential buyers. You have to be ready for people who will come on with ridiculously low offers and others who may enjoy the challenge of trying to wear you down with endless haggling.

Many buyers can also be easily intimidated when dealing directly with a homeowner. They are often afraid to make frank comments, ask uncomfortable questions and convey their true feelings for fear of insulting or angering the homeowner. This may prevent them from getting answers to questions they need to ask before making a decision.

With a professional REALTOR® working on your behalf, you will not deal directly with potential buyers. Your REALTOR® will present offers to you from potential buyers who are more likely to be serious, qualified buyers and will also assist you with your negotiating strategy.

Having the training and experience of a REALTOR® on your side during this time frees you from the stress of dealing directly with potential buyers that may not be serious and ensures that you have a professional looking out for your interests. Most people hire professionals to repair their automobile or put an addition on their house. Why wouldn't you hire a professional to assist you with something as important as selling your home?