Selling your home is an exciting and stressful event. Often homeowners get lured into the “For Sale By Owner” approach by companies telling them its easy. Before you spend large sums of money upfront for little more than posting on a website, consider these pitfalls that very often come with the FSBO approach.
Bargain Hunters. Consider the type of person that would be shopping the FSBO sites for a home. If you were shopping for a new flat screen TV, would you go to a retailer that offers a selection, expert advise and little to no negotiations, or would you go to a garage sale? The kind of buyer that shops FSBO also shops at garage sales. Do you think your home should sell at full retail or at garage sale price? By listing with a Real Estate Broker you are going to get qualified buyers who have recently sold with a broker and are motivated, financially pre-qualified and are expecting to pay full retail.
Visibility. When you sell your home it is important that qualified buyers are seeing your listing. For Sale By Owner companies make claims of high traffic to their site. A lot of people go to garage sales!! When you list with me you get listed on sites where actual motivated and qualified buyers are looking like Centris.ca, Remax-quebec.com, alexmoosz.com.
Liability. Most homeowners are not even aware of what constitutes a legal warranty. How long are you responsible for hidden defects? What are hidden defects? If you did home renovations yourself or without a licensed contractor, how do you protect yourself? When you list with a powerful and productive Real Estate Broker you profit from their knowledge and experience. They will make sure you are making the necessary declarations and keep you from being held responsible for things in the future ultimately saving you thousands.
Negotiating the most money possible. Homeowners usually stay in a house for 2-10 years before selling and moving on. That means that they have had the opportunity to negotiate the sale of a home about that frequently. I successfully negotiate the sale of over 50 properties each year. If you had to go to court for a case worth a few hundred thousand dollars would you represent yourself or would you hire a professional lawyer that goes to court everyday. If you needed surgery would you pull out the first aid kit and head to the bathroom or would you go see a licensed surgeon that has the training and experience to get you healthy again? When the time comes to negotiate the sale of your biggest investment (your home) who do you think is the best person for the job; someone that has negotiating a few real estate transaction in their lifetime or a professional that does it every week?