Should I sell my home myself and save money?
This is a very common questions that comes to a seller's mind. Obviously, the idea is to save money in commission paid and pocket more money. Given the legal maize of documentation, disclosure requirements, contingencies, loan approval, time-lines, marketing, showing efforts, negotiations and more, this is a huge undertaking and not for every home seller. One wrong move can haunt you in a lost sale or a lawsuit. Besides, your Realtor usually does not make a penny until your house is sold. Therefore, it is wise to let a professional Realtor undertake the sale of your home. It's worth it.
Now, let's take a look at some statistics of FSBO (For Sale by Owner) to reveal surprising information:
FSBOs accounted for 9% of home sales in 2010. The typical FSBO home sold for $140,000 compared to $199,300 for agent-assisted home sales.
FSBO Methods Used to Market Home:
Listing on Internet . . . 27%
- For-sale-by-owner Web site . . . 11%
- Yard sign . . . 46%
- Friends/neighbors . . . 39%
- Newspaper ad . . . 12%
- Open house . . . 14%
Most Difficult Tasks for FSBO Sellers:
- Getting the right price . . . 23%
- Preparing/fixing up home for sale: 18%
- Selling within the planned length of time: 14%
- Having enough time to devote to all aspects of the sale: 13%
- Understanding and performing paperwork: 10%