For sale by owner is now an increasingly popular method of selling homes. Since the market values have dropped, sellers would want to get the most profits for sale by eliminating the agent commission. However, in the current economic condition, do you think for Sale By Owner is a smart thing to do?
The current real estate market is what you can consider a buyer's market. In here, the number of houses for sale exceeds the number of buyers. This is an advantageous condition for the buyers. However, this can mean an outstanding problem for sellers.
With so much supply in the market and less buyer, it is even more difficult to sell homes. With this scenario, for sale by owner may not be a good idea at all. The difficulty of selling homes what makes FSBO not ideal at this time. Currently, every seller in the country needs an expert, who knows the ins and outs of home selling. Extensive advertising may be easy to do but it does not guarantee of getting the right buyer. Perhaps, you may be planning to use the Internet. You can make the most of it but you do not have access to Multiple Listing Services, which is one sure way to get interested buyers.
Aside from that, FSBO means you will be doing things on your own, including the negotiation part. If you do not seek professional help at this time, you could end up losing money on your part. At this time, the buyers are in a good position to make claims. You need someone who can help you create tactics to prevent yourself from being taken advantaged of. According to statistics, being able to get professional help could mean selling your homes 16% more than FSBO. So what is 6% commission expense compared to losing the 16% more value of your home? This is just a small price to pay in exchange for maximum gains.
Beside, if you are a first time seller in your homes, you will always lack knowledge on what is right or wrong in the transaction. Real estate professionals like agents are able to pinpoint problems with the transaction that could soon become a legal issue. Here, with their aid you will be able to save money from lawsuits. And being able to avoid huge problems like this is very important for the current economic condition.
At some point, it may cross your mind that real estate agents may not be able to secure your best interests. But whether you like it or not, this people can help you in speeding up the sale of your homes. It is just a matter of carefully selecting your agent. Remember, paying the 3 to 6% commission is nothing compared to what their services can do for you. Not only will you be relieved of your anxiety but you will also be assured of more accurate decisions in selling. Aside from that, you will be able to gain more money that you could imagine and be assured of maximum gains.
So is FSBO not a wise decision for the current economic condition? You can try but it may not be worth doing.
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Source by Katrina Marie Santes