What’s FSBO for Homeowners?

Hi

Let me start off by saying this as a real estate professional: selling a home is a complicated process.?

You need to make sure it's presentable and in good condition. There is also the painstaking task of promoting your home and hoping an interested buyer makes an offer.?

Despite these obvious challenges, some homeowners would prefer to sell their homes without the need of a middleman (in this case, a friendly neighborhood realtor).?

If you find yourself in this situation, your home is considered to be "for sale by owner" or FSBO.?

But why go through FSBO anyway when you can save yourself the hardship of selling your home??

Let's look at a few reasons why you MIGHT prefer FSBO:

You are in control

Your home, your rules! That's the beauty of FSBO. In every aspect of the selling process, you get to call the shots. You decide how to stage the living room and promote the property to potential buyers. There's also added advantage if you already have real estate experience before.?

You get to save money

Many people tend to think they're better off saving money that would otherwise go towards an agent's commission. On average, realtors earn around five percent commission from every home sale. If you think about it, that five percent could go towards financing your new (and possibly larger) home.?

You are the captain of the negotiation boat

Since you are in charge of the selling process, you will be the one to decide whether you should accept an offer or reject a buyer's attempt at a compromise. You know how much time and effort you invested in your home, so you can always wait until the right offer is placed.?

Now, you might think it's the perfect option to undergo the FSBO process at this point, but it's important to know FSBO isn't ideal for most situations.?

Let me tell you why:?

You might lack experience

Anyone can sell a home, but it's a different thing if you sell a home successfully. So, while you can always rely on your common sense and curiosity as you navigate the selling process, there is still no replacing the experience, tools, network, and training that a licensed real estate professional can apply.?

You might get out-negotiated

Negotiating the final purchase price for your home isn't the same as selling a used laptop with outdated specs. As a matter of fact, it's not just the buyer you need to confront but also the appraiser, the home inspector, and the buyer's agent. If you prefer fewer headaches, then get a realtor to represent your needs in these negotiations.?

You might not get a higher price

Sure, FSBO allows you to save a little extra to move up, but consider how a real estate agent can fetch you a better price especially in this red-hot real estate market. While you still need to pay commission fees, but your agent can sell your property at a price that will more than make up for the initial expenses.?

FSBO is still a good option so long as you can afford to focus on the process itself.

But there is no denying the added value a real estate professional can bring to your home sale.

If you are selling your NYC home and looking to make the most of this year’s seller’s market, give me a call at 917-627-5677 or send an email to [email protected].?

I would love to help you with the process so you can move out with less hassle and more cash in your pocket!

Let’s talk soon,

Eli?