Many times when homeowners decide to sell their property and relocate to a new location they often think that they will simply place a For Sale sign in their front yard, take the first reasonable offer they receive and be on their way to their brand new home.
Unfortunately the process of selling a home is never simple, but working with the right people and knowing all of the important facts can make it so. And if you do not know enough about the complexity of selling a home, you may end up getting into more than you bargained for by going the For Sale By Owner route (FSBO).
Reasons Why First Time Sellers Consider FSBO
Selling your home without the assistance of an agent may be very tempting for first time sellers. You get to avoid certain fees that come along with selling with a professional agent. Once you do a small amount of research and learn about what is involved in the selling process, selling your home on your own may seem like the perfect choice. And for those who have experience in the real estate business, it may be the ideal way for them to sell their home.
But for those who are new to the selling process, choosing to sell their home on their own without the assistance of an expert can lead to disaster. There is a lot more to selling a home than negotiating with buyers and adding more curb appeal to your property. It is a complex process that is full of tax laws, fees and mountains of paperwork.
Why the FSBO Option May Not Work For You
In order to sell a home quickly, you will need to have plenty of knowledge in real estate and be able to understand the importance of persistence and professionalism. You will need to be able to price your home in a fair and honest manner. This means all sentimental value should be set aside so that your home can be priced based on the current market trends.
Another reason why FSBO may not work for you is due to the fact that there is a lot of responsibility involved with selling your own home. If a buyer wants to stop by for a showing, you will need to be at home to give them a tour. You will also need to be neutral when it comes to selling your home and be able to point out both the good and the bad features in your home.
Selling your home on your own means that you will have to understand how to negotiate a contract, oversee the fine details of home inspections, confirm procedures with lenders and appraisers, and understand financing clauses. This can all be very overwhelming for someone who does not know anything about the real estate industry.
Choose an Agent in Destin to help you Successfully Sell Your Home
For best results, first time sellers should consult with a real estate agent before making a final decision on whether or not they should sell their home on their own. While there may be many costs involved with hiring a realtor, homes that are sold with the assistance of a real estate agent receive at least 32 percent more at closing than homes that are sold FSBO. And if you sell using a realtor, your home will be listed on their Multiple Listing Service or MLS, without this advantage you will only have about ten percent market exposure.
While it may seem like selling your home FSBO will save you money, it will only end up costing your more in the long run. Hiring a realtor will save your time and relieve you of all the responsibilities that come along with selling your own home. Real estate agents know how to properly negotiate home prices and can provide you with all the assistance and guidance that you will need in order to sell your home quickly.