Main Content

Selling on your own?

Selling Your Home on Your Own? It’s Tempting, But Make Sure You Proceed with Both Eyes Open!
A home that’s listed as “For Sale By Owner,” or often referred to in the industry as a “FSBO,” usually starts out under a good premise:

Save money on the agent commission and maximize the return on investment.

As noble and noteworthy as this intention may be, often the opposite happens, and the seller not only makes less money on the sale of their home, but they have to take on all the headache and paperwork (and legal liabilities) on top of that. In fact, many studies show that on average, FSBO sales bring in less money than an agent-involved sale! Often people who do sell on their own soon realize they still have to pay commissions to an agent —the buyer’s agent—and without the expertise of an agent on their side, may not get top dollar from their home sale.

Some studies show that only 11% of home sellers end up successfully selling their home on their own, many eventually turn to the help of an agent in the end. And those who do sell it on their own, on average, sell it for approximately 26% less than an agent represented property. [National Association of Realtors® 2020 Profile on Home Buyers and Sellers]

There are many other numbers and statistics that show the perils of selling your home on your own. In fact, as the home sale process steadily gets more complicated and the legal liabilities increase, the number of people trying to sell on their own has steadily decreased, by nearly 50% since 1981. [National Association of Realtors® 2020 Profile on Home Buyers and Sellers]

The benefits of putting your home sale in the hands of an expert agent are many:
• An agent helps take much of the legal liabilities off your shoulder
• Agents statistically get 26% higher sales prices than a FSBO
• An agent can help you strategically price your property to gain the most attention and reach the most qualified buyers
• An agent’s marketing and pricing strategies can potentially initiate a bidding war, driving up the final price of your home sale
• An agent can take many of the headaches, legwork and responsibilities of getting a home sold away from you
In most cases the reasons for hiring an expert agent to sell your home greatly outnumber the benefits of taking on the sale of your own home yourself.
Phil Herman has helped many beleaguered For Sale By Owner clients who tried to do it on their own, but eventually realize they needed his expertise to get the job done, and get the highest price possible for their property.
If you are thinking of selling on your own, or are a current FSBO home seller who feels you are in over your head, Phil invites you to give him a call. Whether giving you advice that can help you get your home sold on your own, or actually taking on your home sale for you and maximizing your profits, he’s here to help you in any way he can. Fill out the form below and Phil will reach out to you to see how he can help.

    Required fields are marked *

    Skip to content