5 Reasons Why You Should Not For Sale By Owner!

In today’s market, with home prices rising and a lack of inventory, some homeowners may consider trying to sell their homes 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 the top five reasons:

1. Exposure to Prospective Buyers 

Recent studies have shown that 94% of buyers search online for a home. That is in comparison to only 16% looking at print newspaper ads. Most real estate agents have an internet strategy to promote the sale of your home. Do you?

2. Results Come from the Internet

Where did buyers find the homes they actually purchased?

• 51% on the internet
• 34% from a Real Estate Agent
• 8% from a yard sign
• 1% from newspapers

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.

3. There Are Too Many People to Negotiate With 

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:

• The buyer who wants the best deal possible
• The buyer’s agent who solely represents the best interest of the buyer
• The buyer’s attorney (in some parts of the country)
• The home inspection companies, which work for the buyer and will almost always find some problems with the house
• The appraiser if there is a question of value

4. FSBOing Has Become More And More Difficult

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. 

The 8% share represents the lowest recorded figure since NAR began collecting data in 1981.

5. You Net More Money When Using an Agent 

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’s commission. The seller and buyer can’t both save the commission.

Studies have shown that the typical house sold by the homeowner sells for $185,000, while the typical house sold by an agent sells for $245,000. This doesn’t mean that an agent can get $60,000 more for your home, as studies have shown that people are more likely to FSBO in markets with lower price points. However, it does show that selling on your own might not make sense.

Bottom Line

Before you decide to take on the challenges of selling your house on your own, let’s get together and discuss the options available in your market today.  Give me a call – J.P. Cook – 602-320-4253.

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6109 S 68th Avenue Laveen, AZ 85339

$549,000

5 Beds

3 Baths

3,402 SqFt

Status Active

MLS # 6781655

Property Type Single Family Residence

Price Type --

Your new home is waiting for YOU! This well maintained home offers 2 car garage, extended driveway for extra parking, RV gate, and low maintenance front yard. Incredible inside offers plank style laminate and tile, No carpet, 5 bedrooms, 3 baths, formal living & dining rooms, den/office that could easily be used as another bedroom, and large loft area can be used for a bonus room or pool table. Chef's kitchen is comprised of Stainless Steel appliances, Gas Stove, island, mosaic backsplash, walk-in pantry, and ample counter/cabinet space. Upstairs master suite includes walk-in closet, full bath, dual sinks, separate tub, and step-in shower. Huge backyard has built-in BBQ & covered patio extended with pavers. The Lot is almost 1/3 Acre! HUGE RV Gate area and plenty of space to use it! 3 Bay Garage/ 2 door entry, tone of extra space. Whole house sprinkler system. Close to Freeways, Sprouts, Home Depot and restaurants. Trailside Point community park features a fishing lake, water splash pad and covered play area. The Laveen Schools are rated A+! Don't miss this opportunity!

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11407 W Duane Lane Peoria, AZ 85383

$549,000

3 Beds

2.5 Baths

1,902 SqFt

Status Active

MLS # 6782259

Property Type Single Family Residence

Price Type --

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22807 E Via Del Palo -- Queen Creek, AZ 85142

$549,000

3 Beds

2 Baths

1,710 SqFt

Status Active

MLS # 6783813

Property Type Single Family Residence

Price Type --

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714 N Fox Hill Circle Payson, AZ 85541

$549,000

3 Beds

2 Baths

1,695 SqFt

Status Active

MLS # 6784866

Property Type Single Family Residence

Price Type --

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