FSBO Risks Explained

By JP Fluellen

JP became a licensed real estate agent in 2010 after being a real estate investor for 2 years. He’s been a top real estate agent at Coldwell Banker The Property Exchange and has recently started the Titan Real Estate Team at eXp Realty.

When considering selling your home on your own, there are several pitfalls to be aware of. Today, we’ll explore these challenges and why involving a real estate professional might be a better choice.

1. Accurately pricing your home. One of the main challenges of selling your home by yourself is setting the right price. Relying solely on online estimations, like Zillow’s Zestimate, may not provide an accurate value since these tools cannot assess the nuances and unique features of your home. Enlisting the help of a real estate agent for a professional evaluation can offer more accuracy.

2. Time commitment. Selling a home is time-consuming. It requires you to be readily available to show the home, answer inquiries, and manage all aspects of the sale process. Consider whether you have the time and flexibility to handle these demands effectively.

3. Dealing with represented buyers. Most buyers work with agents, meaning you might end up saving less than anticipated. If you’re trying to avoid paying a commission, remember that buyers’ agents will expect compensation, which might cut into your perceived savings.

4. Home showings and oversharing. If you choose to show your home yourself, there’s a tendency to overshare information with potential buyers. What sellers consider valuable might not align with a buyer’s priorities, potentially complicating the sale process. Professional agents know how to highlight your home’s best features while keeping the transaction straightforward and emotion-free.

5. Emotional involvement. Selling a home can be an emotional process. Agents can help manage these emotions, ensuring decisions are made with a clear, business-minded approach. Their goal is to sell your home quickly and for the best price, without letting personal feelings interfere.

While the For Sale By Owner route might seem appealing to save on commission costs, the expertise, market knowledge, and negotiation skills of a trained real estate professional can often net you a higher selling price, justifying their fee. Consider all aspects carefully before deciding on the best approach for selling your home.

If you’re pondering the For Sale By Owner route or just want more insights into the selling process, feel free to reach out at 307-772-1184. Let’s discuss how we can maximize the value of your home sale together.