Many home owners are tempted to sell their home bypassing the services and fees of a real estate agent. Realtor’s fee can be a lot depending on the value of the property; if home owners can save this money they can sell their home for a few thousand dollars less. Dropping the price can lead to a quick sale.
Before you decide to go FSBO (For Sale by Owner), there are potential challenges that you might want to consider. You need a significant amount of time to sell your own home. Without a realtor, you need to research about your market condition and price your house accordingly, you need to make your home as attractive as possible, you need to plan your advertising, and you need to be available during showings.
You can do what an agent can. Realtors market your property to potential buyers and arrange for showing if any is interested. You can do this too. First, think of how much you are willing to invest in marketing your property. What marketing strategies are you going to utilize?
Do not limit your marketing plan to one method only. Remember, you have to reach as many buyers as possible. Use any means necessary as long as it stays within your budget; online listing, personal website, directory listing, flyers, and social media.
Agents are not lawyers. If you choose FSBO, hire a real estate lawyer to review contracts and provide advice on legal issues. A home owner’s common mistake is not disclosing relevant information about the house. If your house has a history of being infested by termites, you should let the prospective buyers know about this. Let them know what has been done about it and what the current situation of your house is.