Can I sell my home myself? Yes, you can. But there are three things to consider before listing as a "FSBO": For Sale By Owner.
Has the thought of selling your own home ever crossed your mind? Like most Lethbridge home owners, it probably has. Many home sellers consider selling For Sale By Owner or (FSBO) before they ever decide to work with a Realtor for a few simple reasons. They think the home selling process is fairly easy & ultimately to save the costs. But statistically, the real truth is over 80% of FSBO’s who do try selling themselves, end up listing with a Realtor at some point.
So before you consider going down the ”By Owner” home selling path, some due-diligence on your part is highly recommended. Take the time you need to fully analyze your own life situations & decide whether or not this is the right game plan for you.
Can I sell my home myself, is a question I often get. If you want to do it on your own, you should know that listing your own home for sale by owner can be a very difficult and time-consuming process. There is certainly a lot more than meets the eye
It's hard work, involves a lot of time, some expenses and having a plan. You really need to decide whether the cost savings are worth the effort involved. Gone are the days of simply putting up a yard sign and posting a classified ad in the newspapers. In today's online world there’s certainly a lot more to it than that.
Most FSBO posting/listing websites claim they can offer the same or better exposure to buyers nationally as the big name sites like MLS.ca or Realtor.ca which only agents can post to, they fail in comparison. If the opposite was true, why then wouldn’t banks sell their foreclosed homes this way & save the monies? After all banks are all about making a profit, right. The fact is they use a real estate agent.
Why? Websites don’t sell houses. Realtors do. Agents do a hard job and also add value to the transaction.
Full-time real estate agents are experts when it comes to the local marketplace. They have the knowledge and have the means to gain you tons of locally targeted traffic searches. In fact almost 90% of all real estate searches or inquiries start online. Realtors usually have a strong network of prequalified buyers on hand and also know of other agents with possible active buyers that they work with on a regular basis. Real Estate is a business where it pays to network and more contacts equals greater exposure.
All sales are a numbers game. The more buyers that know your home is for sale the higher the likelihood it will sell. And the more who see it, the more offers you’ll receive, and the more offers your receive the more money you will make.
Still asking: "Can I sell my home myself?" Let's continue.
It’s a well known fact, most for sale by owners start off at the wrong asking price & the asking price is the most important factor that goes into marketing any home. In order to price a home properly you need to know your local marketplace and understand the current trends, otherwise you'll have an extremely difficult time pricing any home accurately.
Again, as previously stated, selling a home is definitely a lot of work. Most homeowners just don’t have the time to do what it takes to sell a home. They have full-time jobs. Juggling their busy schedules around family obligations and household chores, with little or no time left over for themselves. Let alone showing the home to prospective buyers or scheduling open houses, inspections or appraisals, etc. when the opportunity arises.
Face to face negotiating with a buyer is a much more difficult task to handle without the help from a qualified agent. For one thing, as a seller your emotionally connected to the property. Therefore it's much easier to concede more than what's necessary or to set un-realistic expectations upon one's self just due to the lack of that helpful 3rd. party buffer.
Also, in most Real Estate Transactions, both buyers & sellers will have different terms & conditions. For the buyer it's normal to expect to see a subject to, financing or home inspection clause and or other specific terms in a purchase contract.
These terms & conditions are drafted mainly for protection of the buyer, in order to complete their due dilligence on the home before moving forward towards a final sale. If issues are found during a home inspection, there's also possible grounds for re-negotiaon or the buyer could just easily walk away from the deal altogether. Do you then lower your price, fix the issue or offer an incentive to eliminate the issue. Or is the buyer just being un-realistic & pressuring you into giving up more than is reasonable.
So, are you still asking: Can I sell my home myself? In summary, take the time you need to carefully consider these 3 areas before making any final decisions about selling your own home. If you still decide to take the "By Owner" route, I sincerely wish you great success. Happy Selling!