FSBO or No? The Perils of Selling Your Own Home
Here's something you should know about selling your own home. Realtors frequently call people who are selling their own home to see if they've had enough of the hassle and if they want to finally unload it with the help of a realtor. Selling your home yourself may seem like a good idea because of saving yourself the realtor's commission but, in reality, the additional hassle oftentimes makes that realtor's commission seem very justified.
There is actually a field of law specific to real estate. The laws regarding real estate are complex and even getting everything in proper order before putting a home on the market is a tough job. Usually, when realtors take over a formerly FSBO (For Sale by Owner) property, they have to fix the paperwork to make everything right.
Marketing a home is a very specific skill. There are certain venues that are expensive and that don't really work and there are venues that are very inexpensive and that are very effective. There are certain types of photos that appeal to certain buyers. You have to know all of this to get the right people looking at your home and it takes years to learn the necessary skills.
Time and Money
Marketing a home takes a lot of time and a lot of money. You'd be surprised to see the bills that realtors pay for marketing. It's not just a one-time expense, either. Marketing is always an ongoing effort and realtors have to stay on top of the market and make sure that they're reaching likely buyers. This takes a huge investment of energy.
Selling Your Home
Any sales professional has to study sales techniques in great detail. They have to be practiced at conversation, putting their best foot forward as far as their product is concerned and, very importantly, ethics. Sales is about more than getting someone to sign a check. It takes a lot of technique to learn how to do it right and, if you haven't done it before, it's not a good idea to take up on-the-job training.
Negotiating will be the larger part of selling a home. A house is the most expensive thing that people buy in their lives, in most cases, and they're going to want to get the best deal possible. You'll have to be able to negotiate with them effectively to get a good price and that take skills.
Realtors will have websites that already get traffic, newspapers and real estate flyers where they already have accounts, photographers to come and shoot the house and inspectors to come and make sure that everything is in good order. They do all of this for you and you don’t have to lift a finger during the process.
Hiring a realtor is a much better option than trying to sell your own home. The mix of experience, resources and savvy that they bring to the table ensures that the deal goes off with as little hassle as possible for their clients.