There are times that you can’t blame home buyers who are not keen on considering FSBOs. Here are the major reasons.
1) FSBOs oftentimes tend to overprice their properties. Some average homeowners do believe that their own property is worth more than the comparable houses in the similar neighborhood. Sadly, they’re wrong. Overpricing houses for sale is a major factor which repels home buyers. Whereas, a real estate agent could make some focused tasks for you such as updating on the market conditions, advice on how to enhance the home buyer’s appeal and as well as an estimation of the expected selling price of one’s home.
2) FSBOs cannot list their houses on the MLS (Multiple Listing Service) since this industry membership community is only open to the licensed real estate agents and brokers. And that’s not all. Another disadvantage of FSBOs is that they don’t have the access to several search engines and web sites such as the very popular Realtor.com. It’s true that any determined and resourceful FSBO can post an ad in their local dailies/newspapers, or even put up a “For Sale” sign at their front yards to publicize the sale. Nevertheless, your home for sale will not yield the maximum exposure it needs like in MLS.
3) Prospective home shoppers are likely to feel intimidated. Potential home buyers feel intimidated at the presence of home owners during the showing and they won’t spend more time in a for-sale home. Aside from that, home buyers tend to feel shy to discuss with their agents all the details (some involve haggling and negotiation, of course) with their agents if they know that the owner is also there. Most often, they also feel reluctant to give an offer if they’re aware that they will be directly discussing and negotiating with the owner of the house. That’s why we have real estate agents–more than anything, so that they can act as an emotional absorber on both the side of the buyer and seller.
But the biggest reason by far why most people never consider an FSBO transactions is that FSBOs are typically vulnerable to fall prey into legal entanglements. For instance, an FSBO who neglects even a single required form can face a costly buyer lawsuit after a transaction closes.
- FSBO Disadvantage: Not Easy To Sell Your Own Home (sfrealestatetoday.com)
- Quick Sale of Your House (sellingrealestatesf.com)
- How to Buy a Home without a Real Estate Agent (sellingrealestatesf.com)
- Because There is No Commissionâ€¦ You Can Drop Your Price $15,000 and do OK! (sfrealestatetoday.com)
- Responsibilities Of A Real Estate Agent (sfrealestatetoday.com)
- The Benefits Of Acquiring A Short Sale Home (sellingrealestatesf.com)