FSBO, or For Sale by Owner, means you are selling your house sans agent, thus saving a lot of moolah otherwise spent on realtor commissions. However, that doesn?t mean you should necessarily do it for the following reasons.
No Joke at All
Selling your home yourself is demanding. What if you spend enormous amounts of time, energy, and concentration in your business or profession? What if your job demands that you travel a lot? You an entertainer, perhaps? Invest long hours? Do a great deal of study reading just to stay as good at your work tomorrow as you were today? People whose work life includes those sorts of demands probably don?t need another project that requires time and attention.
You would be better off seeking the help of a Realtor if you work in a profession that is either one or more of the following ? fast-paced, difficult, stressful, exciting, never-a-dull-moment, time-consuming ? you get the idea. You would want to conduct interviews with a few agents once you have put your home up on the real estate market. Ask specific questions on their marketing methods. Ask if and how they would notify their clients about how their property is faring in the housing market. Do not just ask for, but INSIST on references ? no references, then tough. Only sign your name on the dotted line once you find the representative whom you are certain could do a good job and nothing less. You can get solid recommendations and a ton of insight from the best agents in the business.
About Being a Novitiate Home Buyer
In the event you have never bought or sold a home in your entire life, then your best bet would be to have an agent help you out. The same thing is true if it has been a number of years since the last time you bought or sold. Ditto if you have not bought or sold a home in this part of the county before. But of course, there will be exceptions to the rule, and you can certainly go whole-hog FSBO if you work for a lender or settlement agent. This would allow you to glean some valuable experience in the industry even if you do not buy or sell homes regularly.
Older people are usually better off working with an agent. In most cases, they would have been legal owners of their home for more than just a few years. The home has appreciated often more than the owner realizes. Now the owner wants to ?up the ante?, so to say, and is wanting to buy another piece of property, on one community level, with grounds maintenance and other exterior chores outsourced to an association. They need to sell one home and buy another. It?s often also desirable if they can add to their savings from the sale, and have the operating expenses of the new home be lower than the old. The idea of making a big change and the multiplicity of accompanying concerns is daunting. This is why I firmly believe hiring somebody with experience can be a boon to any homeowner.
If either of these situations describe you or your situation, going FSBO is probably not for you.
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Source: http://www.bluebirdfestival.info/should-you-go-fsbo/
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