Homes for Sale by Owner: 5 Reasons Why FSBO Sales Fail
ORLANDO, FL – November 27, 2017 – According to Realtor.com, “homes for sale by owner, or FSBO, transactions are commonly seen in seller’s markets or whenever homeowners want to maximize their profits by not having to pay commission.” Sellers believe they are saving money, when in fact, they are losing money.
Statistics show that selling your home with the assistance of a professional real estate agent will garner you a higher profit, enough to cover the commission, as well as put more money in your pocket. According to the National Association of Realtor®’s 2016 Profile of Home Buyers and Sellers, the average FSBO sales price was $185,000, while the average price for a home represented by an agent was $245,000. That’s a difference of $60,000 and, over 30% higher! When you do the math, a real estate agent is only 6% and saves you time, money on marketing that you would spend on your own and negotiation skills.
There are many other reasons why someone should hire a real estate professional.
“If the seller does not use an agent and doesn’t know every law and required paperwork specific to their community, they open themselves up to lawsuits,” sourced from Realtor.com