With home prices on the rise and buyer demand still strong, some sellers may be tempted to try to sell their homes on their own rather than using the services of a real estate professional.
Data shows, that those wanting to sell on their own to save a $9,000 commission wind up losing almost $20,000 in
Real estate agents are trained and experienced in negotiation while, in most cases, the seller is not. Sellers must realize that their ability to negotiate will determine whether or not they get the best deal for themselves and their families.Here is a list of just some of the people with whom the seller must be prepared to negotiate with if they decide to For Sale by Owner (FSBO):
- The buyer, who wants the best deal possible
- The buyer’s agent, who solely represents the best interests 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 termite company, if there are challenges
- The buyer’s lender, if the structure of the mortgage requires the sellers’ participation
- The appraiser, if there is a question of value
- The title company, if there are challenges with certificates of occupancy (CO) or other permits
- The town or municipality, if you need to get the CO permits mentioned above
- The buyer’s buyer, in case there are challenges with the house your buyer is selling
The percentage of sellers who have hired real estate agents to sell their homes has increased steadily over the last 20 years. In our area, only 1 out of 3,357 homes have sold through For Sale By Owner. Most of those have sat for more than 300 days. If you don’t have an offer on your FSBO call me today for a free no obligation sit down meeting. Call Now – 919-614-6288 Matt Price, Adcock and Associates, REALTOR.