5 Things to Consider Before You FSBO

Let’s be honest. Realtors have pretty obvious reasons to discourage owners from DIY house sales. For Sale By Owner (FSBO) properties don’t yield commissions for sales agents though we understand why some sellers choose FSBO.

But the truth is, there are real reasons for sellers to reconsider FSBO plans. Realtors have seen sellers struggling to understand real estate law during the confusing maze of a 30-day close. If you aren’t willing to work with a buyer’s agent, you may receive less offers on your home. Potential buyers may not want to work with a seller who doesn’t want to work with their agent.

Here’s a few reasons to reconsider the DIY approach to selling your home:

Financial Security
Feeling financially secure throughout the home selling process is critical to your sanity. How will you determine if a potential buyer is financially prepared? Will you require lending documentation? Do you have a plan in place to ensure your property is secure during showings?

Pricing
Pricing is arguably one of the most important factors when selling your home. How will you know if your home is priced with the trends of the market? What statistics can you offer buyers who ask for justification for your home’s price? Are you prepared to handle multiple bids? Realtors are trained to price competitively, taking cues from your local market trends. We’re also expert negotiators and know how to navigate the bidding process.

Marketing
Good marketing can bring higher prices in a seller's market and it can mean the difference between "sold" or "expired" in a buyer's market. Good marketing might not sell your house but it will make the phone ring and if buyers don't call, you won't sell. How will you market your property? Do you have access to a photographer? Are you able to talk about your property without disclosing details that may put you at a disadvantage? From signage to digital advertising, our agents are specially trained in marketing your property. We’re experts in marketing a property and identifying the current real estate market in terms of the best promotional campaigns.

Contracts and Negotiations
Buying a house becomes a dance between buyer and seller as both push for their own best interest. Negotiating for a home is important since this is the largest asset and most DIY home sellers don’t know how to property negotiate. Did you know whatever is excluded from negotiations needs to be stated when the contract is finalized? How does one negotiate with a buyer? The agents of Innovative Realty Solutions are expert negotiators and advocate for you. As Realtors, we’re expert negotiators who will work to get you the best price for your property.

Closing
The closing process can be one of the most stressful (and drawn out) stages of the home selling process. There’s a lot that goes along with this process and having someone to help guide you through all of the steps is very helpful. Research from the National Association of Realtors shows that nearly 40% of home buyers rank understanding the closing process and the related paperwork as the top challenge. Our agents are experts in the closing process and have the knowledge, expertise in the connections to guarantee a smooth closing.

For more information, contact the agents of Innovative Realty Solutions.