{"id":2031,"date":"2017-12-26T11:00:02","date_gmt":"2017-12-26T11:00:02","guid":{"rendered":"https:\/\/thezakariagroup.com\/top-5-reasons-you-shouldnt-fsbo\/"},"modified":"2017-12-26T11:00:02","modified_gmt":"2017-12-26T11:00:02","slug":"top-5-reasons-you-shouldnt-fsbo","status":"publish","type":"post","link":"https:\/\/thezakariagroup.com\/top-5-reasons-you-shouldnt-fsbo\/","title":{"rendered":"Top 5 Reasons You Shouldn\u2019t FSBO"},"content":{"rendered":"<div>\n<p><img fetchpriority=\"high\" decoding=\"async\" width=\"648\" height=\"354\" src=\"http:\/\/files.simplifyingthemarket.com\/wp-content\/uploads\/2017\/12\/01123136\/20171226-Share-STM.jpg\" class=\"webfeedsFeaturedVisual wp-post-image\" alt=\"\" style=\"display: block; margin-bottom: 5px; clear:both;max-width: 100%;\" srcset=\"http:\/\/files.simplifyingthemarket.com\/wp-content\/uploads\/2017\/12\/01123136\/20171226-Share-STM.jpg 750w, http:\/\/files.simplifyingthemarket.com\/wp-content\/uploads\/2017\/12\/01123136\/20171226-Share-STM-549x300.jpg 549w\" sizes=\"(max-width: 648px) 100vw, 648px\"><\/p>\n<p>In today\u2019s market, with home prices rising and a lack of inventory, some homeowners may consider trying to sell their home on their own, known in the industry as a <em>For Sale by Owner <\/em>(FSBO). There are several reasons why this might not be a good idea for the vast majority of sellers.<span id=\"more-36656\"><\/span><\/p>\n<p>Here are the top five reasons:<\/p>\n<h4><strong>1. Exposure to Prospective Buyers<\/strong><\/h4>\n<p>Recent <a href=\"https:\/\/www.nar.realtor\/research-and-statistics\/research-reports\/highlights-from-the-profile-of-home-buyers-and-sellers\">studies<\/a> have shown that 95% of buyers search online for a home. That is in comparison to only 17% looking at print newspaper ads. Most real estate agents have an internet strategy to promote the sale of your home. Do you?<\/p>\n<h4><strong>2. Results Come from the Internet<\/strong><\/h4>\n<p>Where did buyers find the home they actually purchased?<\/p>\n<ul>\n<li>49% on the internet<\/li>\n<li>31% from a Real Estate Agent<\/li>\n<li>7% from a yard sign<\/li>\n<li>1% from newspapers<\/li>\n<\/ul>\n<p>The days of selling your house by just putting up a sign and putting it in the paper are long gone. Having a strong internet strategy is crucial.<\/p>\n<h4><strong>3. There Are Too Many People to Negotiate With<\/strong><\/h4>\n<p>Here is a list of some of the people with whom you must be prepared to negotiate if you decide to For Sale By Owner:<\/p>\n<ul>\n<li>The buyer who wants the best deal possible<\/li>\n<li>The buyer\u2019s agent who solely represents the best interest of the buyer<\/li>\n<li>The buyer\u2019s attorney (in some parts of the country)<\/li>\n<li>The home inspection companies, which work for the buyer and will almost always find some problems with the house<\/li>\n<li>The appraiser if there is a question of value<\/li>\n<\/ul>\n<h4><strong>4. FSBOing Has Become More And More Difficult<\/strong><\/h4>\n<p>The paperwork involved in selling and buying a home has increased dramatically as industry disclosures and regulations have become mandatory. This is one of the reasons that the percentage of people FSBOing has dropped from 19% to 8% over the last 20+ years.<\/p>\n<h4><strong>The 8% share represents the lowest recorded figure since NAR began collecting data in 1981.<\/strong><\/h4>\n<h4><strong>5. You Net More Money When Using an Agent<\/strong><\/h4>\n<p>Many homeowners believe that they will save the real estate commission by selling on their own. Realize that the main reason buyers look at FSBOs is because they also believe they can save the real estate agent\u2019s commission. The seller and buyer can\u2019t both save the commission.<\/p>\n<p>A <a href=\"https:\/\/www.simplifyingthemarket.com\/2017\/08\/24\/study-fsbos-dont-save-real-estate-commission\/?a=357097-d98bb2836a7be92ba06574347ce699e8\">study<\/a> by <em>Collateral Analytics <\/em>revealed that FSBOs don\u2019t actually save anything, and in some cases, may be costing themselves more, by not listing with an agent. One of the main reasons for the price difference at the time of sale is:<em>\u00a0<\/em><\/p>\n<blockquote>\n<p><em>\u201cProperties listed with a broker that is a member of the local MLS will be listed online with all other participating broker websites, marketing the home to a much larger buyer population. And those MLS properties generally offer compensation to agents who represent buyers, incentivizing them to show and sell the property and again potentially enlarging the buyer pool.\u201d<\/em><\/p>\n<\/blockquote>\n<p>If more buyers see a home, the greater the chances are that there could be a bidding war for the property. The study showed that the difference in price between comparable homes of size and location is currently at an average of 6% this year.<\/p>\n<p>Why would you choose to list on your own and manage the entire transaction when you can hire an agent and not have to pay anything more?<\/p>\n<h3><strong>Bottom Line<\/strong><\/h3>\n<p>Before you decide to take on the challenges of selling your house on your own, sit with a real estate professional in your marketplace and see what they have to offer.<\/p>\n<\/div>\n<p class=\"wpematico_credit\"><small>Powered by <a href=\"http:\/\/www.wpematico.com\" target=\"_blank\">WPeMatico<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In today\u2019s market, with home prices rising and a lack of inventory, some homeowners may consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons why this might not be a good idea for the vast majority of sellers. Here are [&hellip;]<\/p>\n","protected":false},"author":101010,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[100,106,101],"tags":[],"jetpack_publicize_connections":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.9.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Top 5 Reasons You Shouldn\u2019t FSBO - The Zakaria Group<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thezakariagroup.com\/top-5-reasons-you-shouldnt-fsbo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Top 5 Reasons You Shouldn\u2019t FSBO - The Zakaria Group\" \/>\n<meta property=\"og:description\" content=\"In today\u2019s market, with home prices rising and a lack of inventory, some homeowners may consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). 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