Selling your home yourself may seem like a good idea on paper, but in practice it may be a little more than you had bargained for. Executing a successful home sale takes lots of patience, even more time, and a depth of knowledge surrounding the housing market and sales process.

If you’re thinking about listing your home as “for sale by owner”, read through this list of the top 5 reasons not to FSBO (for sale by owner) before staking the “for sale” sign!

Here are the top 5 reasons not to FSBO:

  1. Online Strategy for Prospective Purchasers

Studies have shown that 93% of buyers search online for a home. That’s a pretty staggering number! Most real estate agents have an Internet strategy to promote the sale of your home that has been carefully crafted and cultivated based on internet trends, and what has been successful for home sales in the past. Real estate agents will have an online strategy for selling your home, saving your time and research trying to figure out how it all works together.

  1. Results Come from the Internet

According to NAR, here’s where buyers found the homes they actually purchased:

  • 55% on the Internet
  • 28% from a Real Estate Agent
  • 10% Other
  • 6% from a Yard Sign
  • 1% from Newspapers

The days of selling your house by putting up a sign in your yard or placing an ad in the paper are long gone. Having a strong Internet strategy is crucial. A real estate agent can take care of the nitty-gritty internet lingo, and can share your home listing through newsletters, social media posts, advertisements, and more, without you lifting a finger.

  1. There Are Too Many People to Negotiate With

Here’s a list of some of the people with whom you must be prepared to negotiate if you decide to FSBO:

  • 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

If negotiating isn’t your strong suit or something you feel comfortable doing, trying to negotiate with all of these people, and potentially more, could cause a lot of headache and unneeded stress. A real estate agent will be able to negotiate on your behalf, and they will have tons of experience doing it.

  1. FSBOing Has Become Increasingly Difficult

The paperwork involved in buying or selling a home has increased dramatically as industry disclosures and regulations have become mandatory. This is one of the reasons the percentage of people FSBOing has dropped from 19% to 8% over the last 20+ years.

Don’t like the idea of paperwork? A real estate agent will take care of it for you.

  1. You Net More Money When Using an Agent

Many homeowners believe they’ll save the real estate commission by selling on their own, but the seller and buyer can’t both save the commission.

A report by Zillow revealed that FSBOs are inclined to do so because they believe it will save money (46 percent cite this among their top three reasons), but they don’t actually save anything, and eventually end up listing with an agent.

The same report revealed that,

“While 36% of sellers that (at first) attempted to sell their homes on their own, only 11 percent of sellers—in other words, less than a third…actually sold without an agent.”

It appears working with a real estate professional is the best answer!

Thank you for reading our real estate and homeowners blog. We are Weichert Realtors – The Place of Houses, and we’re happy to have helped you learn more about why you may want to hire a real estate agent rather than FSBO.