FSBO or “For sale by owner” may seem like a low-cost alternative for many homeowners, but below are some reasons why it is not as profitable as selling through a professional.
FSBO Will Make You Difficult to Negotiate
Through it all, you will not have the time and opportunity to know and understand your numbers – the price of the house you are supposed to set. You will not have the opportunity to ask tougher questions about the price with a professional and experienced real estate seller.
What you will achieve is a garage sale of your home sweet home that would attract more buyers for the low price. In addition, being in short of cash is not sophisticated, high-tech or cool, when you know in your gut that it is not okay to take unreasonable risks to end up becoming a victim of another financial crisis.
You Don’t Have the Experience
The speculative fever to get rich in the real estate market is driven by the allure of once in a lifetime opportunities. You, as a lonely homeowner and no one to help around, are likely to face problems while handling objections by potential home buyers.
In addition, real estate sale requires more exposure of the home to qualified buyers, which can only be done through professionals. Most home owners are limited in their skills and marketing tactics while selling their homes.
They have limited sources for friends, organizations, bulletin boards and other forms of advertising. A successful broker, on the other hand, is affiliated to a wide network of prospective buyers in the real estate market.