Five Reasons Why Selling Your Own Home is a Bad Idea

Transactions dealing with homes are often some of the toughest and most difficult, yet rewarding transactions the average Americans can make during the course of their lifetime. To sell a home requires professional marketing, financing, and several other skills most people just do not posses. Given there are those who can sell their own home, often called For-Sale-By-Owner or FSBO’s. Usually those who can sell there own home already have a bunch of experience selling homes and have learned the ropes or the tricks of the trade over time, or they are selling the home to someone already close to them like a tenant, a son, a relative or another relationship that is close and uncomplicated. Here are several reasons why FSBO’s are just not a viable idea or process for the average home owner.

The very first reason is that homes being sold by the owner cannot list the home on professional multiple listing sites that are used by realtors. Realtors or professional use a very useful and effective site called a MLS or multiple listing site. This site and other home selling web search engines receive a ton of traffic from serious professionals looking for a home to buy or sell, or tour for their client. An individual selling their home on their own will have to take out a small ad in the newspaper and put a sign up in their front yard. These small marketing means severely limit the amount of exposure the seller will receive for their home.

The second reason why for sale by owner is a poor decision is that the buyers agents, or in other words the realtor representing the buyer, will not show a FSBO. This single reason is good enough in itself to dissuade anyone from selling their own home. A realtor receives commission from the sell paid out from the seller’s agent and if the seller does not have an agent then the buyer’s agent will be afraid of not being paid. A buyer can sign an agreement to pay the buyer’s agent but even then the buyer’s agent will not want to have to do professional work with a unprofessional seller so they will not even waste their time. This means that the only people the FSBO gets to show their home to are unrepresented buyers who most likely will not even be able to qualify anyway.

The third reason to have a real estate agent is to inhibit the classic blunder of overpricing the home. Almost all homes owners think that their home is worth more than it is. They want to sell the memories and sentiment as well and therefore have a hard time pricing it right. A realtor will make sure that classic mistake is not made.

Fourth, a realtor will create an emotional barrier between the buyer and sellers. Buyers like frank and open discussion about the home; they want to know its downfalls as well as its benefits. It is much harder to view a home and be open about it if the owner is close by making the buyers feel uncomfortable.

Lastly, selling a home is like a legal minefield. One mistake could cost the seller an expensive lawsuit after the home is sold. A realtor has experience in real estate law. They understand what the requirements are and know what to be careful of. Selling ones home on their own is a much riskier way of bringing on an unwanted lawsuit.

Immobilienmakler Heidelberg

Makler Heidelberg

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